this post was submitted on 11 Apr 2024
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In the US you can deduct the mortgage interest, which is even more of a benefit for the wealthy than the mortgage as a whole would be since the deduction decreases the longer someone stays in a home.
Social security being a flat percentage with a cap is also a form of class war.
Investment income being taxed less than employment income is another form of class warfare.
Why the hell do you pay more in taxes than Elon Musk?
There's nothing stopping people in the lower classes from investing.
If minimum wages are so low and working hours so long that people are too busy with their day jobs and/or don't make enough money to even think about the stock market, let's focus on fixing that rather than going after the stock market.
I think an argument is that because many people live paycheck to paycheck, investing simply isn't an option. Many costs in life are somewhat fixed
I buy similar groceries compared to someone who makes half what I make, and compared to someone who makes twice what I make; as a fraction of income it's a huge spread.
What this means is that making twice as much money doesn't mean you get to invest twice as much
you can invest way more, because the difference in income is largely disposable.