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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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.
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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This is the age-old argument against minimum wage increases and I think it would be stronger in this case if $15 were a solid wage in New York and not an unlivable one
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