Not really complete. We did not shift the wealth from young to old. The old have money, because in their time, they still participated in the wealth they generated.
Nowadays most of the generated wealth goes to the wealthy, not to those who generated it. This hits both old and young.
The money that the youth is lacking went to the rich, not to the old.
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!
The old and the rich are the same. People over 55 own 52% of the US
… while making up how many % of the population?
About 30%. And they’ve had more years to work, that’s not a startling percentage.
As someone else said - mostly all rich people are old, but most old people are certainly not rich.
And what’s the distribution of that 55%?
The old have money, because in their time, they still
participatedhad opportunities to participateFixed it for you.
Nowadays most of the generated wealth goes to the wealthy, not to those who generated it.
🧑🏻🚀🔫🧑🏻🚀
This hits both old and young.
But the vast majority of the rich are old, and the vast majority of the young are poor.
The money that the youth is lacking went to the rich, not to the old.
Again, the rich are mostly the old.
Far from all old people are rich, but the vast majority of rich people are old and/or have inherited wealth.
The vast majority of the old are poor also. And the vast majority of the Rich would fit in a moderate concert venue.
Fact is that my generation, Millennials, are the first generation since the 1930s to grow up economically worse off than our parents and it’s only gotten WORSE for the following generations.
To the point that Boomer/Gen X middle of the middle class is rich by Millennial/Gen Z standards and will be considered economically obese by the time Gen A become adults.
Which may represent reverting to the norm of history where very few were rich and everyone else was a peasant. If you want to change this look to the governments after the Depression and World wars. What did they do? High taxation for real public good.
Its the working class vs the 1%, not generation vs generation.
So soon we’ll need a major global conflict to cull a good portion of the disgruntled unfortunates that might be inclined to rise up against the system
What if we all just said no to the 1%s war?
I recommend woodworking or metal fabrication in anticipation of future guillotine demand.
Or the collapse of society in general. Being a craftsman is a valuable skill when your society loses the ability to buy the cheap products of slave labor.
How much could one banana cost?
$10?
This question becomes less rhetorical and more academic by the day
When they can’t be grown locally and global supply chains have broken?
A lot.
If they don’t find you handsome, they should at least find you handy.
Rusty Cage built one in Florida, there’s a whole tutorial, happy crafting!
We can do the same thing with a rusty spoon.
Working on shop space now. If I get laid off the plan is to take a precision machine degree at th local community college
I hope you have the money saved up to let that happen.
Posse up, start raiding the homes of the rich for anything of value, burn down the rest, along with the inhabitants. Rainy/snowy nights are excellent opportunities.
Read about Italian illegalists for inspiration
Renzo Novatore’s wiki page is a great start
He justified refusal of work and he thought, in his personal philosophy of life, that he had the right to expropriate from the rich what he needed for his daily survival, and using force wasn’t a problem for him.
How interesting.
This isn’t gonna affect the rich at all, lol. You don’t know where the rich live. The nice house up the street you’re talking about robbing, that’s not a plutocrat. That’s just the local doctor. Still working class, just a bit better off.
It’s going to impact the dipshits who voted for a traitor.
The rich will get handled once we take control back
This is just to give karma a helping hand
…are you arguing that anyone with more than two brain cells to rub together or even the slightest bit of financial literacy voted for the GOP?
Okay pol pot.
Rainy/snowy nights are excellent opportunities.
Can confirm. Used to be a security guard. On rainy/foggy nights, exterior camera lenses tend to get wet and blurry and the cameras can’t see shit. They’ll be able to maybe tell that someone was there, but they won’t be able to make out any significant details. (Interior cameras will be unaffected, of course, so be careful of those.)
Extra bonus tip: wear a disguise! Just a wig and glasses or something can make you look like a totally different person. It may not fool people face-to-face, but it’s much easier to fool a grainy security camera picture. And if you have short, dark hair while the police are looking for someone with long, blonde hair, they’re very unlikely to ever figure out it was you.
And always leave your phone at home.
Not just phone. All electronics. And your car, which also has a modem talking to every coms tower and GPS at all times.
Yup, pull the fuse on the onstar or use an e bike, motorcycle, etc
and to top it off people are using credit cards to pay for mcdonalds. This is a land of the low IQ
Some people get cash back
Plus it builds your credit score. I just set up auto-pay and pretend that it’s my debit card, never buying more with it than I can pay off immediately, that way it’s impossible to end up in debt. Been doing that for almost a decade now.
Because the credit card companies get a bonus every time a customer buys some overpriced slop on their card, so they incentivise buying from these companies by saying ‘you get cashback’ (and the card company get a payout, the interest from your account, and all the associated data about your purchasing habits and location)
Yeah well it doesn’t matter since everything is short term oriented goals. Just keep the moment.
Use the credit card for the rewards then pay it off daily
I had a credit card for years before I even realized you could just… not pay it off every month? I still don’t understand why anyone would do that. Even when I had virtually no money I just bought the cheapest food I could with my credit card and continued to pay it off every month.
Spending money you don’t have just means you’re spending more money with interest when you don’t have money in the first place. Unless you know you’ll be in a better place soon and you just need to make it there, you’re just making things easier right now in exchange for making things even harder than now just a little ways down the line.
Credit cards should only be used to spend what money you already have, so you can build good credit to have when you start being more financially stable. Like, sure, we all hate the system that judges us like that, but we can better fight to change it if we’re not homeless.
Yeah, but, some cash you never get back
If you’re swiping your debt card for anything you’re a fool. Every single transaction goes through a credit card for easy cash back 2-5% depending on where I shop.
Secondly I never use my debt card for security purposes. There are potentially card skimmers (especially at gas pumps) and it’s much easier to contest a transaction with the CC company than it is with banks.
You remember that episode of ST:TNG “Too short a season”?
Oldies ruling…forming the govt for a youthful population. Yeah…I wonder what could go wrong…
I am typically against calls to divide the proletariat, whether it is because of race, gender, religion, or age. From the point of view of the capital class these are all good ways to keep us separated.
I will note that retired people have some similarities with the bourgeoisie, in that they earn a living on savings and investments, so no longer work.
Very few retired people “earn a living on savings and investments”. They barely have enough savings to withdraw necessities before they die.
Rich retired, yes, but the qualifier is rich, not retired.
no, the qualifier is “not broke” the fact so many people are broke is irrelevant to the definition of rich and middle class.
I don’t think that this is true in the United States. People do acrue wealth over their lives. I don’t know where you are talking about, so it is quite possibility true for there.
This site breaks it down by age, and not as a simple average:
https://wealthvieu.com/personal-finance/net-worth/net-worth-by-age-percentile/
Anyway, if you are correct and retired people have no money then you disagree to the original post, since the whole thesis is that older generations are taking wealth from the younger generations!
I basically agree with that interpretation, since I think the main divide is capital versus working class.
I have several people in advanced age in my life who decided to retired because they can’t physically work anymore, they have under $100k in retirement.
How long do you suppose they can live off that?
They saved their entire lives to have less than $100k, lived in the cheap parts of town, had shitty cars that constantly break down, never really spent much money on themselves, and what little they have to try to survive a few more years does not make them rich.
Richer than those who have nothing, sure. It’s enough money to cover 3 more years? and then what? Just die?
I’m sorry that you have people you care about who are in a precarious financial position. That sucks for sure, and is a sign of how a capitalist society treats working class people who can no longer work.
I would advise between generalizing though. Even one older person who is basically told they can freeze to death or starve is terrible! But that doesn’t mean that it is common.
It really doesn’t matter either way though. All people should be able to live good lives, regardless of their age.
That sucks for sure, and is a sign of how a capitalist society treats working class people who can no longer work.
Totally. That’s my point, just surviving capitalism and being able to “retire” doesn’t mean you’re suddenly rich or a capitalist who lives off interest on savings.
I would advise between generalizing though.
Yeah, that’s the point of my original comment. I completely disagree that we should lump anyone who happens to have more than the bare minimum as part of the capitalist ruling class, who want for nothing and exploit others’ labor for their benefit.
Being in the capital class means living by renting your possessions to workers and living off of them, or living by owning businesses and living off of the profits that your employees generate.
It doesn’t mean anyone who has a nice life.
There is no difference between rich and retired.
If you are fortunate enough to retire in this economy, you’re rich.
You’re either rich enough to retire, or you work till you die.
We need to vote these people out. We need to also vote with our wallets. And if it’s necessary then we riot for a change. People have rioted for less, tbh
You really only needed that last sentence.
Nah, we still need to vote. I’ve seen a lot of anti-voting propaganda lately, all conveniently before midterms.
And also setting up a massive surveillance network to keep those poors (aka nearly everyone) in line.
i truly think it’s about climate change and how they’ll maintain control over a depressing society ripping apart at the seams
Trying to get an internship around the time iPhones got popular was a nightmare.
So much scut work and entry level work (i.e. assistant and basic secretarial) just didn’t need a person any more.
I can’t imagine how bad it is right now.
The Great American Decline continues.
This is going to be a very bleak nation to live in within another decade or two. I mean it already is for many.
If you are a United States Citizen over 18 years old PLEASE make sure to check your voter registration and PLEASE vote!
Voting is always worth it. Even if you write in “anyone else” it still shows that you’re willing to get off your ass and vote unlike half of voting-eligible people for some reason.
Writing in some protest vote will re-elect the current authoritarian regime.
It’s still better than not voting. I hate it too but for the love of god fucking vote.
The vast majority of people who just choose to not vote will vote dem in the upcoming election.
I see a lot of propagada on this thread, blaming older people for society’s woes. Well shit! All we have to do to fix things, is abolish pensions, Social Security, and Medicare…just like the ruling party wants to do?
You’re buying bullshit. Getting angry at boomers, Zoomers, Xers, etc., while the ruling class laugh their asses off at the useful idiots who actually help further their agenda.
Slow down. Don’t ever believe FORTUNE about anything employment-related. They exist to make bosses feel good about bad decisions. Period.
This has nothing to do with generation warfare and everything to do with wealth. AI is a smokescreen, a scam, a waste of word count.
AI is just another fork of “moving wealth from young to old.”
“Let’s just steal from the future. It’s not like anyone’s living there anyway.”
When you’re old, you’re cashing in insurance claims often. See? If we had universal healthcare, this might be softened?
