Gerontocracy is fundamentally an issue of the few holding more than their fair share of wealth and power at the expense of others and pulling the ladder up behind them. It is a class issue same as everything else.
We’ve got Sam Altman and Taylor Swift in the millennial category off the top of my head. Elon Musk is Gen x, not a boomer. So boomers have Microsoft, Apple, Nvidia at the moment, but soon they’ll go to gen X and the problems will perpetuate.
Yes, and once boomers start dropping dead, gen Xers will be fighting tooth and nail to hold on to their slice of the state pension ponzi at the cost of everyone below them on the ladder the same as boomers did. That does not change my point at all.
There is no fair and equitable world in which state pensions can continue working the way they work now. The system was built on the expectation of infinite growth with every generation being larger than the last.
Yeah, if we saw something like an unavoidable 25% wealth tax on all wealth over $300 million, we would see around $2.5 trillion in taxes that could be distributed as a universal base income that would place $17,857 per average household (2.5) in the U.S.
If we actually combated housing prices, that could potentially cover housing everyone in the U.S. from that alone, then retirements would only need to cover food costs. There are a lot of changes that would need to be made, they just won’t come until the last second when people are dying in large enough numbers to make people do something.
turdas@suppo.fi 5 days ago
Neither of those are billionaires.
Gerontocracy is fundamentally an issue of the few holding more than their fair share of wealth and power at the expense of others and pulling the ladder up behind them. It is a class issue same as everything else.
LifeInMultipleChoice@lemmy.world 5 days ago
We’ve got Sam Altman and Taylor Swift in the millennial category off the top of my head. Elon Musk is Gen x, not a boomer. So boomers have Microsoft, Apple, Nvidia at the moment, but soon they’ll go to gen X and the problems will perpetuate.
turdas@suppo.fi 5 days ago
Yes, and once boomers start dropping dead, gen Xers will be fighting tooth and nail to hold on to their slice of the state pension ponzi at the cost of everyone below them on the ladder the same as boomers did. That does not change my point at all.
There is no fair and equitable world in which state pensions can continue working the way they work now. The system was built on the expectation of infinite growth with every generation being larger than the last.
LifeInMultipleChoice@lemmy.world 5 days ago
Yeah, if we saw something like an unavoidable 25% wealth tax on all wealth over $300 million, we would see around $2.5 trillion in taxes that could be distributed as a universal base income that would place $17,857 per average household (2.5) in the U.S.
If we actually combated housing prices, that could potentially cover housing everyone in the U.S. from that alone, then retirements would only need to cover food costs. There are a lot of changes that would need to be made, they just won’t come until the last second when people are dying in large enough numbers to make people do something.
Trainguyrom@reddthat.com 4 days ago
With the projected population decline, the inflationary effects of creating money in order to pay pensions could actually be beneficial