What these people don't understand is that the labor participation rate is only going to get lower and lower due, mainly, to technology. Ownership of capital is going to be more and more important and small or micro investments in capital should be more encouraged for lower income/wealth households if they want to make it in the coming decades.
The fallacy is that it is being made political. The right wingers won't see the truth, mainly because they have become experts at lying to themselves, and because they would rather blame Obama, or China, or the elite, or now Hillary.
https://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/1491591617