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> Are those people "capital" or not? Probably not. In the sense it's being used in this discussion, capital are people whose majority of income comes from divi
by js8 1y ago
> Are those people "capital" or not?
Probably not. In the sense it's being used in this discussion, capital are people whose majority of income comes from dividends and rents. So your typical 401k (likely - I am not American) isn't in that category, rather they are labor with some savings for an old age.
The main difference is whether you need to work for someone or not. That determines your social class and to a large extent, self-interests.
- gruez 1y ago>capital are people whose majority of income comes from dividends and rents So the average boomer after retirement?
- triceratops 1y agoYes that's how retirement works. Other people work and take care of you. That's how it's always worked. I also don't see too many boomers funding Super PACs and getting their favorite laws passed.
- js8 1y agoI think you're making a good point. I have an honest question for you. Aren't you scared how American system pits retirees and their kids against each other? What you just said means, essentially, if workers want to improve their working conditions, they have to go against shareholder profits, and they're threatening their parents survival (which relies on these profits). Isn't it f'ed up?
- ac29 1y agoSocial security is the largest source of income for the median boomer (the median boomer has approximately $100k in financial assets, not nearly enough to generate substantial income)