Majority of the US is owned by old people and boomers are such a wealthy class, they outweigh the billionaire class 8 to 1 (though there is a lot of overlap). People over 55 own 52% of all assets from real estate to cash to stock.
Boomers and their 401ks and pensions need to be a target too. It’s a natural consequence of an aging society: the young need to work more and keep less so the old don’t have to work.
That’s fair but also keep in mind that the most accurate statement is that it works for ‘the shareholders’ and over time ‘the shareholders’ have become less and less people and more and more entities that are holding the stock. Various Funds, Institutions, and other organizations. It’s a democratic council that is dictated by whoever holds the majority of voting shares. When we talk about millions of shares more often than not the voting majority is housed in one way or another within an institution. It’s not ‘A’ boomer, it’s a management fund holding the retirement portfolio of thousands of boomers if not just another company that managed to secure 15% or more of voting weight.
I push back because the focus should always be on the system and on the wealthy class. Not the demographic of some retired asshole that’s benefiting from the system itself.
And the board works for… Boomers. Seriously.
Majority of the US is owned by old people and boomers are such a wealthy class, they outweigh the billionaire class 8 to 1 (though there is a lot of overlap). People over 55 own 52% of all assets from real estate to cash to stock.
Boomers and their 401ks and pensions need to be a target too. It’s a natural consequence of an aging society: the young need to work more and keep less so the old don’t have to work.
That’s fair but also keep in mind that the most accurate statement is that it works for ‘the shareholders’ and over time ‘the shareholders’ have become less and less people and more and more entities that are holding the stock. Various Funds, Institutions, and other organizations. It’s a democratic council that is dictated by whoever holds the majority of voting shares. When we talk about millions of shares more often than not the voting majority is housed in one way or another within an institution. It’s not ‘A’ boomer, it’s a management fund holding the retirement portfolio of thousands of boomers if not just another company that managed to secure 15% or more of voting weight.
I push back because the focus should always be on the system and on the wealthy class. Not the demographic of some retired asshole that’s benefiting from the system itself.