• 0 Posts
  • 100 Comments
Joined 1 year ago
cake
Cake day: August 14th, 2023

help-circle
  • The median net worth of a 65-year-old in the United States is about $390k, so the income it produces is generally a modest supplement to social security. At the 75th percentile, which is also generally considered middle class, net worth is about $1.1 million and easily enough to provide a comfortable retirement lifestyle.

    The idea that someone is middle class because they’ve earned a penny in bank interest is absurd.

    No, the idea is that the middle class (defined in the conventional way) spends time in both the “worker” category and the “owner” category.

    The ordinary middle class pathway is to work for 30-50 years and then retire on their savings (or a defined contribution retirement plan) or to rely on a defined benefit pension fund that is itself invested in securities, aka capital. This is the baseline expectation of retirement planning for the middle class in the U.S.: the investments/savings provide the cash to live on, while ownership of the primary residence shields the retiree from certain housing costs, or can provide cash flow through a reverse mortgage.

    Through the power of compounding, a 40+ year savings plan generally increases its value over time so that the vast majority of the value comes from return on investment rather than invested principal.

    If you want specific calculations, we can do that to show that the typical middle class path takes in more than “a very small amount” in their retirement savings/investments.

    Or are you planning on coming back with a load of caveats

    These details are obvious from my first comment in this thread, that the middle class in the United States works its way into an “ownership class” in time for retirement, through savings/investment. That’s exactly what I meant in that comment, and spelling it out makes it pretty clear what I meant at that time, and that I haven’t shifted my position in this thread.


  • Its not my definition. Its a different school of thought that has stood up to scrutiny. It is different to what a lot of people would refer to as middle class and, of course, different again from what you, personally describe middle class to be.

    I’m specifically pointing out the problem with the “how they earn income” definition, that it seemingly assumes that the two categories are mutually exclusive, to try to argue that there’s no such thing as a middle class They’re not. Most people who are in what most would recognize as “middle class” under the traditional definition get income through both methods, especially over the course of their lifetimes.

    So even under that definition, which attempts to pretend there isn’t a middle class, there is still a middle class: those who have income through both methods, or even hybrid methods (ownership of an actively managed business that allows them to earn money while working but wouldn’t earn money without their own labor).


  • Middle class generally means people whose incomes are in the middle half (ranging from 40th to 60th percentile to the 20th to 80th).

    If you want to pull out your own new definition based on whether their income comes from work or from return on investments, then I’d still point out there’s a large number of people who do both, especially when compared across the entire life cycle including retirement. So if you insist on this alternative definition, you still have to account for the big chunk of the population who do both.




  • If you work for your money, you’re part of the struggle. If you own for your money, you’re part of the problem.

    But the middle class is those who are able to leverage working for their money to accumulate capital to where they can live off of the proceeds of that owned capital. If you’re able to retire, you eventually become part of the ownership class.

    There is a shrinking middle class but the actual people in it are those who split their adult lives into eventually retiring on their wealth, accumulated through working.



  • Unions are legal in all occupations.

    One caveat: the legal protections of the right to unionize apply to non-supervisors. If you have people who report to you, your power to unionize is pretty limited.

    There are also some specialized jobs that aren’t allowed to unionize by either federal or state law: actual soldiers in the Army, certain political jobs, etc.

    But for the most part, if you are employed, you’re probably allowed to unionize (and protected against retaliation even in an unsuccessful union drive).


  • Who wants a bland white wall?

    Hang some shit on that wall. Paintings. Photographs. Random yard sale taxidermy.

    Modern styles can still have plenty of personality. Yes, one of the modern trends is minimalism, but that’s not the only modern trend, and there are plenty of ways to explore your own sense of style within a modern sensibility.

    I like having a house with really, really good insulation, with good plumbing and electrical up to 21st century fire/safety standards. I like having ducts for my central heat pump and air conditioning.

    I can fill in the appearance and style stuff after that on my own.


  • Oh and Best Buy owes its survival to investing heavily into cell phone plans and contracts. They would’ve folded without it.

    Radio Shack limped along for maybe a decade after their core business stopped making sense, because of their cell phone deals. This Onion article from 2007 captures the cultural place that RadioShack operated in at the time, and they didn’t file bankruptcy until 2015 (and then reorganized and filed bankruptcy again in 2017).




  • The filibuster makes a big difference when the president, the speaker of the house, a majority of the House, and between 50-59 senators all support something.

    If you don’t have all of those others lined up, the filibuster isn’t the only hurdle.

    For example, Biden hasn’t been president during a Democratic-controlled House, so everything he’s accomplished legislatively has been with the support of either Kevin McCarthy or Mike Johnson, who have been the critical veto point while he has been president.

    Plus with only 51 Senators in the Democratic caucus (and 50 in the last Congress), getting 50 votes through Manchin and Sinema has been a challenge sometimes, too.

    The last time the filibuster has mattered for a Democratic president in actual legislation was the 111th Congress, when Democrats last held a trifecta. The Democrats did abolish the filibuster for presidential appointments, which don’t go through the House, during the 113th Congress, when they controlled the White House and the Senate.

    I think it’s pretty obvious that the filibuster is gone the next time it matters, the next time there’s same party control of all 3. It’s just that it’s better if it’s Democrats in control.




  • Nader 2004: 465,650

    Nader wasn’t even the Green candidate in 2004. Nader ran as an independent in 2004.

    That year the Green Party ran David Cobb, who got 119,859 votes, putting him behind the Constitution Party, the Libertarian Party, and the independent Ralph Nader.

    In 2008, Nader ran again as an independent and beat the Green Party once again, with 739,034 votes, versus McKinney’s 162k. In between were the Libertarians in fourth place, and the Constitution Party in fifth place.

    The Green Party has never even come in third place, and several times hasn’t even come in fifth place, in our two party system.



  • to the downvote brigade I highly recommend go watch the full video and decide for yourself

    Yeah it’s obvious she’s weaponizing the police against a guy who she doesn’t like, by knowingly playing directly into the “police will overreact against a black guy” card, and faking panic in her voice. This is violent escalation to a non-violent situation. The faked panic is straight up sociopathic.

    People who don’t leash their dogs are assholes, and his response to that was relatively tame.

    I don’t see how you can watch this and respond the way you have, unless you’re also the type of asshole who feels entitled to walk dogs without leashes, or generally dislike black people, or are completely oblivious to the social context in which police in New York interact with black people.


  • “Feminism” is like philosophy in that over time it makes certain wins, and the discussion around that topic gradually sheds the label.

    In the same way that ancient philosophers were establishing the disciplines we now call mathematics, geometry, and physics, or early modern philosophers were establishing what we now call economics and political science, and mid-century/postwar philosophers were establishing what is now called computer science and information theory, the history of feminism is notching wins and making them normal:

    • In Anglo American law, women were able to own their own property beginning in the early 19th century, starting in the American South (somewhat ironically driven by southern concerns about preserving the institution of slavery).
    • Women were allowed to be considered for credit and banking services, equal to men, beginning in the 1970’s.
    • Women earned the legal right to equal pay for equal work in the 70’s, even as cultural attitudes in many circles still considered that to be government overreach (even today).
    • Marital rape and other forms of domestic violence were outlawed pretty recently. The last state to criminalize marital rape did so in 1993, the same year that Jurassic Park came out in theaters.
    • Liberalized divorce rules throughout the 80’s allowed women to leave abusive husbands more easily.
    • Most gender segregation in official government institutions were dismantled in the 1980’s and the 1990’s, including the abolition of male-only universities, and laws imposing different legal drinking ages between men and women.

    Today, many of us who were alive when these rules were in effect think of them as totally backwards. Nobody is seriously advocating for a return to denying women the right to have their own bank accounts, or giving husbands the right to rape their wives without consequences.

    But the cultural understanding of the meaning of feminism rarely considers preserving past wins, even recent wins. People only think of it as fighting for something in the future.


  • Most men have experienced the stifling gender norms that force them into a box: they’re not allowed to cry or show any feeling other than anger, there’s no such thing as non-sexual touch or romance, women don’t like sex so trying to get close to them is inherently rapey and goes against their desires.

    Feminism fights against that trap, that men are only men if they check certain boxes. That’s what’s toxic: telling men they’re not allowed to be certain ways.

    So yeah, feminism does have a lot to offer men. Toxic societal expectations are bad for everyone.