I was once talking with one of my classmates and he said that in the future, there will be universal basic income implemented by entire world. I was not convinced at that time and thought he is just being stupid but given the layoffs happening and massive amount of unemployment, I am thinking about this possibility. What do you say?
That's how debt works for poor people. Rich people do what's colloquially known as a "buy borrow die". But an asset, take out loans using the asset as collateral for your entire lifetime, and then die in debt, while passing the asset (minus the debt) along to your heirs.
Dividends and cap gains are not taxes as income, they have separate (lower) tax rates. And those tax rates can be further avoided using the above strategy.
And the nice thing about stock is that poor people have 401(k)s now. Which are legally required to buy certain stocks. Meaning that even if the company shits the bed, every working class person with more than two cents to rub together is still propping up the stock price.
That's kinda why the spaceX ipo was so fucked. They specifically changed the rules so 401(k) plans would be legally required to buy shares after 15 days instead of 3 or 6 or whatever months. That allowed Elon musk to effectively pump and dump the entire US retirement system.