Comment by dangus

I’m sorry but the idea that anyone near middle class would make the decision to drop their entire retirement savings on a single high-volatility business in a new product sector like e-commerce is insane.

The average retirement savings at that age is around $500,000 according to Edward Jones. That’s average, not median, which means that a ton of people have a lot less money saved up than that by that age.

The Bezos family had $500k adjusted for inflation in money they could risk and lose 100% on. That money was also in an account the presumably was liquid enough to spend (I.e., I can’t spend my 401k money before retirement age without enduring a massive penalty and tax burden).

I must reiterate that no parent would liquidate their entire 401k for a business investment. Middle class people are not starting McDonald’s franchises. At best they are starting a Subway or a Dunkin with borrowed money, and usually the families that do that are putting the whole extended family in on that investment.

Finally, I will address the way in which you our bootlicking our hyper-capitalist system: you praise the virtues of a system that allows people like Jeff Bezos to make it big while downplaying the wild inequalities in that system caused by under-taxation of people like him.

10% of Americans, over 20 million people, have no health insurance. Why is that okay?