One thing that always happens when there's stonk-related discourse is well-off media types who think owning stocks is normal getting very confused and irritated to discover most people on here think of the market as a gacha game for rich cokeheads
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I think 55% is probably a decent figure across the board for what percentage of the population has some access to the professional economy, with its assumptions about insurance, retirement funds, home ownership, etc., and the worldview gulf between them and the other 45% is wide
And also I think some of that 55% is only marginally invested. And also 45% is a lot! It makes it a pretty significant problem when returns to capital dwarf returns to labor.
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I'd rather see a radical expansion of the EITC than an increase in the minimum wage (they have the same effect of boosting low incomes), but I think we are past the point that we have to be looking at ways to improve returns to labor.
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My big worry with attacking the problem via minimum wage is the disparate impacts in different areas. $15 is a bit different in S. Dakota than it is in New York. EITC expansion would avoid that problem of potentially wrecking businesses in low-cost-of-living areas.
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