Are you claiming that if Google only made $50 billion this year it would go under? That it wouldn’t be able to pay its employees? What exactly happens if they make less profit than they did last year?
What happens if they make less profit? Their stock goes down which affects millions of 401ks that are invested in the market.
Sounds like maybe we should go back to pensions, which don’t rely on the investor class.
How do you think pensions were set up?
The company holding the pension just invested in the market themselves instead of you getting to choose what to invest in yourself, and you lost all of that investment if you left the company before 20 years. There were more strict requirements for what they could invest in, and they had to be much lower risk than what an individual is allowed to invest their own money into. You still had issues with if the stock market tanked, pension funds would be affected.
Talk about people being tied to an employer over health insurance being terrible, you would lose your entire retirement if you left a company.
If you want to talk about a nationwide public pension system, that’s basically what social security is. And guess what, it’s invested in the market too. It’s one of the single largest holders of US bonds. Same with every other government pension system.
