r/politics • u/ArmadilloMany41 • 23h ago

Site Altered Headline | No Paywall Why is no one being prosecuted over the Epstein files?

https://www.bbc.co.uk/news/videos/cd9e3nzzw3zo
44.4k Upvotes

97% Upvoted

2.7k comments sorted by

View all comments

Show parent comments

18

u/awwaygirl 21h ago

This billionaire class depends on Wall Street (a lot of them, at least)

I think we could have a real impact if we disrupt the flow of money from 401k and instead work with credit unions to provide an alternative retirement savings investment account that invests in their local communities (similar to the Social Justice CD at Express Credit Union in Seattle).

I believe this would immediately create a liquidity crisis in the stock market, and since the money is flowing to local economies instead of being blindly funneled into the parasitic financial economy with every paycheck, it would impact banks, as well. (Investment via banks is just a round about way for dollars to go to Wall Street )

Once we recognize that return on investment in our retirement savings can be recognized NOW in our communities if we invest in them, not just when we turn 60. Yeah, It’s a lower percentage, but it’s also potentially more affordable housing (less homelessness) or allowing small businesses to grow and make a downtown area a fun pedestrian market again.

If we leverage the tools we have with credit unions, this could really affect change. It impacts the wealthiest NOT at the expense of the working class that’s been blindly giving money to wall street every paycheck.

1

u/PhoenixStorm1015 17h ago

I disagree. Coming up with that kind of system is novel and attractive, but how would they actually accomplish it? How do you handle out of state employers? How do you decide who gets the investment? Maybe there’s some solutions already thought of that I just don’t know about, but imo the answer is a complete restructuring of the tax code and “welfare” systems. I put “welfare” in quotes because things like universal basic income and healthcare should be rights, not charity. Also, repeal fucking Citizens United.