2026-10-04 11:36 UTC
ownership class
pension funds
Same thing. Pension funds ARE the ownership class.
I’ve been commenting that people over 55 own 52% of the US and baby boomers as a generation own ~8x more than billionaires as a class, but I re-checked and I’d quoted the wrong number in a bunch of my comments. 52% is for baby boomers only. All over 55s added together are actually over 70%. Let that sink in.
The entire goal of the economy is to let old people enjoy the spoils of the young’s work. Even billionaires are just a symptom of a larger, systemic issue (which is not to say they shouldn’t be hunted for sport, that should still happen).
Replies (1)
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@karlhungus@lemmy.ca 2026-10-05 05:01
Over 55 isn’t babyboomers anymore that’s gen x. I think this kind of data is exactly what you’d expect to see in a somewhat equal society: you work your whole life, saving, of course you’ve got more savings then people who haven’t been working their whole lives. Really I suspect averaging here is skewing your perception, that 70% can hide a few super wealthy and many more poor (which is what you’d expect given 1% of the population own more than the combined bottom 95% ).