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Yeah I read theory
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this post was submitted on 16 Jul 2024
141 points (98.0% liked)
chapotraphouse
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You're welcome to dunk, I don't mind.
Assuming you engage in wage labor (despite it being antithetical to all of our beliefs) and your employer offers you a greater portion of the fruits of your labor via a matched savings account, is it wrong to accept it? I think it's not wrong at all, and workers should accept and make the most of their 401k.
Bruenig's video is a framework for understanding personal finance from a leftist perspective, or the "personal welfare state" as he calls it. These are things the state should handle, but instead has created a mess of rules we have to decipher.
I do, and it's not antithetical to my beliefs, it's the only acceptable form of wealth accumulation offered to me right now
Yes, it's called solidarity
It would work better if they actually had a leftist perspective
Most employers offer a match on 401(k) contributions. For example, you contribute $500 per paycheck and the employer contributes $250. By turning down this money, you are literally letting the company you work for keep extra money that would otherwise go to you. Fuck companies. Accept the match, so they can’t keep that extra money. You worked for it.
I’m a Marxist and want the downfall of capitalism. However, I’m investing in total market index funds in case capitalism remains the dominant economic system for the rest of my life, because I don’t want to be a wage slave when I’m tired, old woman.
You are free to do whatever you want, and you are not a bad leftist if you invest
But if you claim that you are not going against the most basic principles of socialism while investing is just sad
The most basic principles of socialism like checks notes letting your employer keep extra value from you by turning down extra money and having to work as a wage slave when you’re 80.
It's not extra money, it's a portion off the money they stole from you
I don't see how this contradicts the point.
A whole lot of things in our lives go against basic principles of socialism, not sure how this is that much different.
The difference is between capitulating on principles and capitulating for survival
Thanks for explaining. I won't be joining you in the boycott of retirement accounts, but I understand your issue of profiting from other's work.
I'm not boycotting retirement accounts, I have one myself, I just wanted to try to explain my ideology
Thanks for a good faith reading of my comment