Forum Post: FIRST DEMANDS OF OCCUPY WALLSTREET --> REVOLT AGAINST WALL STREET
Posted 13 years ago on Oct. 7, 2011, 1:03 a.m. EST by ReformWallStreet
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OCCUPY AND DEMAND CHANGE NOW BROTHERS AND SISTERS!
Wall Street has looted this country of its manufacturing base, moved millions of jobs overseas and taken from all of us our future all in the name of bringing greater returns to their shareholders and rewarding themselves with billions in compensation. They’ve extracted those returns from our pocketbooks as they push everyone into debt whether it be credit card, student loan, etc., and its not from investing in America. They are the problem and we must occupy and gain in numbers and demand change from our politicians to stop the exodus of money from this country that is not going into our salaries or into investing into our futures.
Corporate America and its banks must re-invest into America and start raising our pay to match the inflation their banks have created. Corporate CEO’s must pay their fair share. They must only receive salary taxed as ordinary income and not stock options which is at capital gains rate.
Lower taxes on the middle class. Substantially raise the standard deduction to 20K per person and child tax credits to 10K. Tie the AMT (tax) to inflation.
End the housing stagnation and deadlock on this economy by allowing Fannie and Freddie Mac to be liquidated. As long as the treasury funds their losses they will drag this recovery back into a recession as every single recovery has been fueled by housing. Until housing recovers this economy is going nowhere. BECAUSE as long as the Banks try to inflate housing prices to keep people paying bloated mortgages that money people are making isn’t buying cars, paying for dinners, movies, or other products or services in this economy. Its going to the banks who spend it overseas. Paying a mortgage on a house the banks are trying to inflate to its book value is sucking all the money and value we created from our labor back to wall street and their pockets.
There MUST be mortgage reform, Obama caved to the banks in 2009. A bankruptcy court must be allowed to write down the mortgage like any other debt they already do. DEMAND!
We’re Not Gonna Take it Anymore! http://www.vh1.com/video/twisted-sister/54323/were-not-gonna-take-it.jhtml
end bush tax cuts , rebuild America bridges and roads , invest in middle class not banking class thats the occupy wall street message.
Here's how to get real reform: Term limits - 2 terms and gone, to limit corporations ability to corrupt. Line item veto - to allow a president to cut the pork. Force congress to be subject to the laws they pass. No waivers. Federal referendum.
There is no pork problem so to speak. Pork just helps bills get passed, its so tiny of a cost it really doesn't matter. Its all about entitlements, social security and medicare. Then its the national debt.
I totally agree with term limits. The original idea was a short term in the house which would cycle people in from the community. Not career politicians.
five. Hike them to 90%. six. Make college free
nine. 1 month paid vacation!
I propose a new political party!!!!!
I did in my post here: http://occupywallst.org/forum/offering-another-solution-here/
I completely agree, the two party system needs to be ex-laxed post haste.
More specifically, we need a Labor Party, we need employee rights and empowerment!!!!
This needs to result in a constitutional amendment to reform representation. (end corporate control of elections). The house needs proportional representation and the senate needs to be eliminated because corporations would just control that. threshold being 1% of the vote in the state. Therefore it makes government form coalitions to govern.
proportional representation = if a party gets 50% of the vote they get 50% of the seats, if 5% then 5 % of the seats and so on.
how about you guys demand to end the war, end bailouts, end giving away our money to foreign companies..
even if the government raises taxes.. they are still spending it on bullshit wars... dont you think>?
Yes, end the wars. They're too costly and don't do anything to mitigate future terrorist attacks. Reinvest the money in America.
Guess the 99% people are now ready to go live back in the STONE AGES!!!
Gee I didn't know Wall Street was forcing all the people to get credit cards, run them up to max then not be able to pay for it along with the house, car, boat they couldn't afford to start with????
If you reword anything you can make it sound silly.
Basically, 30 years ago a man could get a job out of high school buy a car and get a house with a stay at home wife/mom before 27. Nowadays, at 27 you're working 1-2 jobs and not buying a house till on average mid 30's. By then you need a second incomes and its still barely enough to get by.
This country has become so poor that debt is our greatest asset. We sell it everyday and its the only thing the world wants from us.
Banks have used the Federal Reserve (they're the shareholders of this organization) to cause inflation. Over time
Haha so pathetic. I made this image http://27.media.tumblr.com/tumblr_lsnl13Nmql1qldsiio1_r2_250.jpg
Putting that on every post?
end the Federal reserve ! End fractional reserve banking
As long as GDP grows through greater productivity and better services the credit expansion from fractional reserve banking fuels the accumulation of wealth for all of us. However, when GDP slows money growth takes it away. Ergo good sometimes, bad at other times.
They need to get the credit machine rolling and accelerate dollars into the economy.
BANKS MUST START LENDING AND WRITE DOWN THEIR MORTGAGE LOSSES
All the mortgage of the American people should be bailed out, not the banks. It is the people that are paying for the bail out after all.
What? No, inflation isn't doing that. If you want a CEO income cap, I think Germany does that. Their law might be a good place to start.
Ehhh. Why not just broaden the tax base and close the loopholes? We're going to have to address debt eventually.
What? Housing is dirt-cheap. That doesn't mean we can just forgive all debts.
Could you explain this more? I don't understand this one.
in 2009 there was a proposal to speed up the economic recovery by allowing Bankruptcy court to reduce a mortgage. They can do that with any other debt. The banks lobbied to death that amendment to the legislation and it was cut out. It needs to be in. Banks lose, we win!
I don't know how I feel about that. Why would banks lend if you can just get the amount reduced later? At the end of the day, this is a consumer problem, not a problem with the financial instrument.
Honestly, I think it would make a lot more sense if the government just used a massive stimulus package to pay off half of everyone's school debt and mortgages (on houses under a certain value).
True, banks will have to take that into account when lending. Its a renegotiation of the loan. The banks aren't doing it even though Obama said their was mortgage reform. Banks need to write down their loses, they are carrying it forward pretending everything is fine. It a huge phantom inventory.
A stimulus money has to come from somewhere. If the bank write down their loses we'll get a better picture of this economy and stop pretending in stagnation. Its time to say the emperor is naked.
Renegotiating a loan is a risky procedure, though, and undermines business confidence in our system. It'll probably just drive up interest rates massively, and not allow riskier loans. Maybe not a bad thing, but some poor people just aren't going to get houses and cars. Maybe we're okay with that.
I'd argue we should go ahead with stimulus spending anyway, though. It's painful now, but it'll be more painful if we wait.
Government doesn't need to do that. Let the banks take the hit on the losses, not the government bailing them out again.
Government can just write the laws to make the dischargeable for student loans and allow mortgage "cram down." Ergo no cost to taxpayers.
There is a CEO income tax in America. Its $1 million, they all avoid it with stock options.
Loop-holes are small. Collection is a big problem.
Mortgage debt in this country is almost $14 trillion being serviced right not. Its also dependent on where you are. In Seattle renting is cheap compared to buying yet in Los Angeles renting can be just as much.
Yeah, but Germany has a firm cap - something like 4 million.
You could create some kind of investment tax, but I'm not sure we should disincentivize investments - that money helps other companies grow.
the stock options are the most egregious examples of CEO pay compensation. Its what exploded the gap between worker and CEO pay in the last 30 years.
THAT I can agree with - the gap is pretty wide. I'm just not sure how to fix it.
The Securities and Exchange Commission required CEO pay to be disclosed awhile back. Once that got out there was a huge increase in salaries as everyone was comparing each other's pay. The genie is out, the only way back is
Banks control the regulatory agencies, lobby the legislative process and they’ve bought the NYPD after making a nearly $5 million donation contribution to them. The most un-American and dangerous thing they have done is threatened to ruin all our lives unless they get what they want. Rather than making them not too big too fail, they’ve only grown bigger!!! The next bailout funded by the taxpayers is coming unless we get Congress to break up the banks into smaller more local banks. Banks have extorted trillions from the US PUBLIC, do not let get away with it!!! The public debt for this bailout threatens America already. It has pushed the national debt up to America’s borrowing capacity and a large factor in America get downgraded from AAA to AA.
DEMAND that the mega- BANKS be split up.
DEMAND the reinstatement of usury laws which limit interest charges to 10%. No more extortion of the middle class! [ California Constitution already has it but Federal law trumps it!!!!]
REVOLT
Require 10% Capital Reserves in the banking system. (Banks must self-insure against another collapsing credit market without Federal Reserve assistance and money printing.
Re-instate Glass-Steagall Act.)Banking Reform needs to come back
Amend the Federal Reserve Act of 1924 and close the Federal Reserve banking system and FDIC to foreign banks and those with Credit Default Swaps. (No more bailouts of foreign banks or taxpayer funded gambles in CDS markets.)
Abolish high frequency trading and bid stuffing (Abolish casino gambling by wall-street)
Require oil traders to delivery of the oil for actual use and not resale (Remove speculators from the oil markets.)\
Criminalize Securities Fraud and make the SEC a criminal enforcement division
Nationalize all bailed out banks
Require parties to a Credit Default Swap to have an insurable interest. [people cannot buy life insurance on a neighbor, murder him and then collect the proceeds. The banks have sold CDS’s they knew was garbage to customers and then have run away with the proceeds].
Require banks to invest 50% of the capital they have in America. Banks in America are international and spend a lot of dollars investing in businesses and company’s in other countries depriving America of much needed investment into its future. Banks ought to be required to keep dollars in the US.
Reform for 99% of America.