Posted 10 years ago on Sept. 10, 2012, 8:37 p.m. EST by Johnw
This content is user submitted and not an official statement
I want to play myth buster if I may for the "We are the 99%" slogan of the Occupy Wall Street movement.
1) Either you are part of the 99% or you are not part of the 99%. You might be lying, maybe you are part of the 1% and you are trying to hide it by holding a 99% sign? I'll take your word for it that you are part of the 99%. Holding a sign that states "I am the 99%" is as descriptive as a sign stapled to a cat that says "I am a mammal". Thank you for the obvious description.
2) Don't go out on a limb with that 99% claim. You may want to pull back on that number and give yourself a percentage point of wiggle room. Call yourself the 98% just in case you are on the cusp of the 1%.
3) The 2% probably associate themselves more with the 1% than the bottom 98%. Also, the 3% are like the 2% who lean toward the 1%. And the 4%, those guys definitely hang out with the 3%. By induction, we can continue this process. The 99% cut off point is arbitrary.
4) By the way, what does the income distribution look like? No one has ever shown me a graph, is it similar to a normal distribution? And how has the income distribution changed over time? Has there been income mobility? Over the past 10 years, have people from the 99% joined the 1% and vice versa have previous 1%-ers dropped in rankings?
4a) An outlier is an observation that is numerically distant from the rest of the data. Can we remove Bill Gates ($60B) and Warren Buffet ($44B) and see what the distribution looks like then?
5) Older people tend to earn more money. If you are 20 something and just out of college, do you really expect to be in the 1% or even close to it? Is the 99% slogan a form of ageism, where people older than 40 years old are discriminated against for having higher incomes?
6) 99% of the world relies on the cheap goods and services that corporations provide: computers, cars, gasoline, phones, pants, shoes, ....the list goes on.
7) A corporation is a legal structure where shareholders own the company and have a chance to share in the profits. Their dealings are by law publicly reported. Corporations are mutually owned by members of society. Are the 99% upset with such a legal structure? Or are they talking about corporate conduct? Please get your terms straight so you don't throw out the baby with the bath water.