Forum Post: How to repair the American Economy
Posted 13 years ago on Oct. 6, 2011, 7:46 a.m. EST by Oursec
(4)
This content is user submitted and not an official statement
I think the movement needs a coherent and reasonable list of demands. Some of the ideas being posted here(http://occupywallst.org/forum/proposed-list-of-demands-for-occupy-wall-st-moveme/) lend themselves to communism, the failures of which are well documented. Free hand-outs such as education, medical treatment, forgiveness of all debt etc… results in wholesale abuses of the system. People value what they earn. Not buying stuff hurts US blue collar as much as it does white collar, especially for those items still manufactured or assembled in the US. Pulling all of our money out of the banks would not only hurt the banks and financial industry, it would devastate the US economy, and result in another depression, which would benefit no one; credit and banking are unfortunately necessary evils. The state of the American Economy and financial industry is in its present state due to a systematic destruction of safeguards installed during the Roosevelt administration in response to the Great Depression. All US citizens should watch the documentary "Inside Job". This movement needs to take on epic proportion. Occupy DC needs to gain the same momentum/traction that NYC has achieved. In my opinion this will require people from outside DC; people in and around DC will likely not actively participate due to career concerns and high employment. The message needs to be sent to DC just as strongly as it is being sent to Wall Street. The government (primarily republican, although democrats are certainly not guilt free) is the enabler in this mess. The stance of the T-party is COMPLETELY in the wrong direction. The control of congress by Lobbyist is total; we need a game changer. We need full scale endorsement of a list of demands by a majority of the current congressional members accompanied with bills, or we need a wholesale change of congress during the next election. Only those candidates that support our list of demands should be supported/elected. Many of my ideas have already been expressed by other members of this forum (http://occupywallst.org/forum/specific-demand-and -action-list-for-washington-dc/); however, I submit the following list for consideration:
- Reinstitute separation of banking, insurance, and investment (stock) (Glass–Steagall Act of 1933); eliminate trading on margin. Provide regulation to limit the ability to speculate on commodities markets if feasible.
- Reinstitute 90% tax bracket or Buffet Rule; allow accelerated depreciation for capital investments in the United States.
- Reinstitute corporate limits on campaign contributions. 4. Reinstitute the FCC fairness doctrine
- Wean off of lending from China and Canada; Implent trade agreements that recognize American cost for OSHA, minimum wage, and environmental protection.
- Build non competitive items without commercial equivalents, such as warships and fighter aircraft within the government vice paying a contractor.
- Make natural monopolies (electrical distribution, broadband, land-line telephone, natural gas, water) non-profit organizations with government over-site.
- Reduce corporate taxes; eliminate loop-holes, favor small companies
- Break up companies that are “Too big to fail”, especially the banks.
- Reduce lobbyist influence and enforce same standard to Congress and staffers regarding conflicts of interest with employment and representing a company to the government.
- Financially shelter/protect those industries essential to winning a war.
- Upgrade American Infrastructure to maximize economic productivity/competitiveness.
- Legalize and tax drugs that are no more harmful or addictive than alcohol.
- Place cap on prescription drug overhead/profit. Fund universities to make up for lost research capability.
" credit and banking are unfortunately necessary evils."
This statement needs the word LIMITED to start the sentence. No one needs credit for TVs, Toys, Computers etc. That is how the 1 % controls the 99 %.. The simple truth is that the 99 % created the greed of the 1 % by its insane desire for immediate gratification.