I’m not talking about “mom and pop” investors, and don’t disagree with anything you are saying. As a matter of fact, all of my personal income is derived from investments (not what I’m referring to as “wealthy” and spouse earns money from labor).
I’m talking about the fund managers and BIG-time, well-connected people who’ve never or rarely earned money via labor in their lives. These are the people who have direct access to politicians and can lobby on behalf of their own interests. I’m also referring to the amount of leverage these people use to move markets and funnel ever more money into their own accounts. People who use other peoples’ money to make money, yet take on none of the risks.
Very different from mom and pop who’ve worked hard and saved up over their lifetimes.
