by Summary:
401(k)s are a joke for the working class. The common belief is that 401(k)s are a solid retirement plan for everyone. But that's a myth. A trivial amount is owned by the working class, while the rich hold the majority. According to the Economic Policy Institute, the top 10% of earners own 84% of all stocks. So, when share prices increase, it's the wealthy who benefit, not the average worker. This isn't just a minor issue. It's a systemic problem. America remains a capitalist oligarchy, not a democracy. The rich get richer, and the rest are left scrambling. Think about it. If you're working 9 to 5, barely making ends meet, how much can you really contribute to a 401(k)? Not much. Meanwhile, the wealthy can max out their contributions and reap the rewards. It's
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401(k)s are a joke for the working class. The common belief is that 401(k)s are a solid retirement plan for everyone. But that's a myth. A trivial amount is owned by the working class, while the rich hold the majority. According to the Economic Policy Institute, the top 10% of earners own 84% of all stocks. So, when share prices increase, it's the wealthy who benefit, not the average worker. This isn't just a minor issue. It's a systemic problem. America remains a capitalist oligarchy, not a democracy. The rich get richer, and the rest are left scrambling. Think about it. If you're working 9 to 5, barely making ends meet, how much can you really contribute to a 401(k)? Not much. Meanwhile, the wealthy can max out their contributions and reap the rewards. It's
Topics:
Steve Keen considers the following as important:
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| 401(k)s are a joke for the working class. The common belief is that 401(k)s are a solid retirement plan for everyone. But that's a myth. A trivial amount is owned by the working class, while the rich hold the majority. According to the Economic Policy Institute, the top 10% of earners own 84% of all stocks. So, when share prices increase, it's the wealthy who benefit, not the average worker. This isn't just a minor issue. It's a systemic problem. America remains a capitalist oligarchy, not a democracy. The rich get richer, and the rest are left scrambling. Think about it. If you're working 9 to 5, barely making ends meet, how much can you really contribute to a 401(k)? Not much. Meanwhile, the wealthy can max out their contributions and reap the rewards. It's like trying to fill a swimming pool with a teaspoon. You'll never get there. This isn't just about numbers. It's about daily reality. People are struggling to pay rent, buy groceries, and cover medical bills. Retirement savings? That's a luxury for many. The system is rigged. We need to rethink how we approach retirement savings. Instead of relying on stock market gains, we should focus on more equitable solutions. Universal basic income, for example, could provide a safety net for everyone. Or how about stronger social security benefits? These ideas aren't radical. They're necessary. Because the current system isn't working for the majority. It's time to face reality. The American Dream is a myth for most. And until we address these systemic issues, nothing will change. The rich will keep getting richer, and the rest will keep struggling. It's time for a change. |
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So where are the trillions the workers have paid Social Security in the US. I know, but you can't admit to it.
How big are its debts?
Increasing asset prices only benefits the rich because social security has asset stripped the workers, splashed the cash, and not invested it.
"401(k)s are a joke for the working class.
A trivial amount is owned by them, while the rich hold the majority.
Increasing share prices only benefits the wealthy.
America remains a capitalist oligarchy, not a democracy."
Ok? I have over a million in my 401k, just because someone else has more doesn't mean I won't be living comfortably with mine in my retirement. You're just bitter and jealous. Go touch grass.
What is the ratio?
man’s spitting facts right here
The joke is that state st, vanguard, blackrock, use the retirement savings of ordinary workers, to own most of the stock market, yet vote the shares for capital interests not the laborers who gave them the wealth.