The old and the rich are the same. People over 55 own 52% of the US which is one of the best examples of inequality. Boomers all together own 8x more than billionaires. Any old person with a decent 401k or otherwise stock/index fund based retirement is one of the shareholders living off the working class.
After the billionaires are guillotined or otherwise disposed of, there would still be terrible inequality that needs to be taken care of. Put simply, the billionaires alone don’t have enough assets to fix this.
"The son of the worker, on entering life, finds no field which he may till, no machine which he may tend, no mine in which he may dig, without accepting to leave a great part of what he will produce to a master. He must sell his labour for a scant and uncertain wage. His father and his grandfather have toiled to drain this field, to build this mill, to perfect this machine. They gave to the work the full measure of their strength, and what more could they give? But their heir comes into the world poorer than the lowest savage. If he obtains leave to till the fields, it is on condition of surrendering a quarter of the produce to his master, and another quarter to the government and the middlemen. And this tax, levied upon him by the State, the capitalist, the lord of the manor, and the middleman, is always increasing; it rarely leaves him the power to improve his system of culture. If he turns to industry, he is allowed to work–though not always even that --only on condition that he yield a half or two-thirds of the product to him whom the land recognizes as the owner of the machine.
We cry shame on the feudal baron who forbade the peasant to turn a clod of earth unless he surrendered to his lord a fourth of his crop. We call those the barbarous times. But if the forms have changed, the relations have remained the same, and the worker is forced, under the name of free contract, to accept feudal obligations. For, turn where he will, he can find no better conditions. Everything has become private property, and he must accept, or die of hunger." - Peter Kropotkin (The conquest of bread)
The old and the rich are the same. People over 55 own 52% of the US which is one of the best examples of inequality. Boomers all together own 8x more than billionaires. Any old person with a decent 401k or otherwise stock/index fund based retirement is one of the shareholders living off the working class.
After the billionaires are guillotined or otherwise disposed of, there would still be terrible inequality that needs to be taken care of. Put simply, the billionaires alone don’t have enough assets to fix this.
Some few of the people over 55 own 52% of the US.
You are trying to shift the blame from the rich to the pensioner.
"The son of the worker, on entering life, finds no field which he may till, no machine which he may tend, no mine in which he may dig, without accepting to leave a great part of what he will produce to a master. He must sell his labour for a scant and uncertain wage. His father and his grandfather have toiled to drain this field, to build this mill, to perfect this machine. They gave to the work the full measure of their strength, and what more could they give? But their heir comes into the world poorer than the lowest savage. If he obtains leave to till the fields, it is on condition of surrendering a quarter of the produce to his master, and another quarter to the government and the middlemen. And this tax, levied upon him by the State, the capitalist, the lord of the manor, and the middleman, is always increasing; it rarely leaves him the power to improve his system of culture. If he turns to industry, he is allowed to work–though not always even that --only on condition that he yield a half or two-thirds of the product to him whom the land recognizes as the owner of the machine.
We cry shame on the feudal baron who forbade the peasant to turn a clod of earth unless he surrendered to his lord a fourth of his crop. We call those the barbarous times. But if the forms have changed, the relations have remained the same, and the worker is forced, under the name of free contract, to accept feudal obligations. For, turn where he will, he can find no better conditions. Everything has become private property, and he must accept, or die of hunger." - Peter Kropotkin (The conquest of bread)
Very nice quote! Thanks!
… while making up how many % of the population?
And what’s the distribution of that 55%?