JPZ

Aleksandr Isayevich Solzhenitsyn was a Soviet and Russian author and dissident

If you notice, amongst the Advanced economies the most purely capitalist economy is beating the pants off the social leaning democracies.

401(k) balances up on average $25,000 (when adjusted for inflation) during Trump's second term, where as under Biden, 401(k) balances were down on average $20,000 (when adjusted for inflation). We have a new class emerging. The investor / worker class has income outside of wages (from capital gains and dividends). The Socialists are a dying breed who needs Americans to see themselves solely as a worker class, with no investment in the economy. Sorry comrade those days are past. The new prosperity class is the investor / working class. Oh, did you hear that Elon Must is giving one share of SpaceX to every American child. Sorry, comrade, we are all capitalists...

California Billionaire tax estimated to increase California revenues by a negative $38.9 billion. "...we estimate that the Act will collect approximately $30 billion (range $28 to 36 billion), less than a third of the $100 billion projected by Galle et al. (2025). This range accounts for the publicly confirmed taxpayer migration that has already eliminated nearly 30 percent of the Act's wealth tax base, applies a litigation-survival discount to the remaining base, and is validated by the wealth tax base elasticity literature. We estimate that California's billionaires contribute $3.3–5.8 billion annually in state income taxes. The present value of permanently lost income tax collections from departures more than offsets the one-time wealth tax revenue, yielding a net present value of negative $38.9 billion." nber.org/system/files/workin…

Socialism is functionally dead in America *************** There is no substantial "wage earner only" class in the USA, anymore. Thanks to the Employee Retirement Income Security Act (ERISA), which was signed into law in 1974, and the Revenue Act of 1978 and Economic Recovery Tax Act of 1981 that expanded IRA eligibility to all working taxpayers and the Taxpayer Relief Act of 1997 which introduced the Roth IRA, and the Securities and Exchange Commission's deregulation of fixed commission rates on May 1, 1975 (known as "May Day") leading to zero-commission trading by 2019, all of which have contributed to the democratization of retirement funding (including employer contributions) for all Americans. Today, Over 72.2 million Americans participate in 401(k) plans, and nearly 65 million U.S. taxpayers own individual retirement accounts (IRAs). Roughly 60% of U.S. adults have money invested in a retirement savings plan like a 401(k) or IRA, with total U.S. retirement assets reaching $51.2 trillion by the Q2 2026. And, with the new Trump Accounts most all future Americans will be practicing capitalists at birth. The "wage earner only" class is dead. American’s who work, now have many tax advantaged vehicles available to them by which they can now own the GDP “inexpensively” and participate as the capital markets from cradle to grave. Hence, the working class in America is functionally dead. And, without a “worker only” class there is no class warfare between the Capitalist Pigs and the Downtrodden Workers. Socialists have no constituency, we are all working Capitalists, Comrade!