Forum Post: I am the 1% and I love you!
Posted 12 years ago on Sept. 29, 2011, 8 p.m. EST by Owen
(28)
This content is user submitted and not an official statement
Hi occupiers!
I am in the 1% richest in the US. I was born white, male, and in the United States, giving me a huge head start in the world in terms of wealth. I was also fortunate to be born with a mind that ever impressed teachers and fellow students alike. My parents weren't and aren't rich. They did care about my education though and they supported me as best they could in spite of a divorce wracking the family in my middle school years. I got into a great college, worked hard there and eventually got a lucky spot at an up-and-coming technology/finance company that was highly successful.
And here I am, not quite 30 and pretty darn rich. It's much different than what I imagined it would be like. It makes little difference to my happiness how rich I am. That's internal. I have always liked to feel free to do whatever it is I want, and I always thought I needed to be rich to have such freedom, but it turns out that this freedom was always right there and can never be taken away from me.
Anyway, that's enough about me. I just wanted to say that I'm happy that you all are out and recognizing that something is wrong with the system! I couldn't agree more. So let's fix it together. My one request is that you be inclusive! Don't exclude me just because I'm in the 1%! Can we be the 100% instead of the 99%?
Blessings, Owen
Hey, a little greed can be a great motivator :) It sounds great to be all inclusive, but anyone chasing and hording the almighty dollar has to be somewhat suspect. It's been my observation that people in the 1% don't get there because of honest labor, but achieve their money through dishonest means, and I don't necessarily mean illegal means since passing laws to tax and divert money from the U.S. treasury coffers is totally legal. Sorry to sound a sour note, but if the truth be told, a spade is a spade.
Cool. Can I borrow a couple hundred bucks? :o)
Depends on the interest rate :). Or, perhaps, what awesome thing you're going to do with it.
Have you looked at http://www.khanacademy.org/? They are doing awesome things over there. I read your other post where you said you were not a big fan of charities because of the "give a man a fish" mentality. This is most definitely the "teach a man to fish" kind.
Just kidding. I know many people in your position who support this type of movement/protest. There's no need to demonize anyone for their legitimate accomplishments. :o)
Owen - If you are indeed that wealthy, please see if you can show leadership regarding offshore tax avoidance. Read the book TREASURE ISLANDS by Nicholas Shaxson. It will greatly inform you as to how wealth: both illicit blood and drug trade and plundering dictators and legal gains such as yours are hidden within a global system to hide money from fair taxation. If you would lead on this issue, we don't even need to "tax the rich" or "cut services" to the poor. It would expose the worldwide tax avoidance scheme. Thank you, I am a Silicon Valley person.
My wealth was taxed a lot. I earned about twice what I kept. In other words, I was taxed at a rate of about 50% as I was getting rich. The income tax is one of the greatest hindrances to social mobility in my view. Once you're rich, you don't need much income.
I don't know anything about offshore tax avoidance, maybe I would be richer if I did :). Why do you think I am in a position to lead on this issue?
One thing to add, Owen, Offshore tax avoidance (primarily corporate) takes rightful revenue away from Gov't coffers to balance the books. This puts an increased burden on those who can least afford it. The wealthy lobby and are given more favorable rates (for what they do pay on cap gains). Half the world's revenue never gets taxed at all through offshoring. US standard of living is lowered (instead of a rising tide lifting all boats, a dropping tide lowers all boats). Offshore money is set up to hide. Fraud and malfeasance (destroying our economy) adds a financial layer of rescue upon the populace who never defrauded. Govt is lobbied (offshore money?) to "save" the fraudsters. Money stays offshore but wants to be repatriated on "holiday" if a "deal" can be cut to make low paying jobs here. What has happened is that govt covertly cooperates via lobbying (revolving door) to undermine taxation and we have an invisible "virtual" country for globalized wealth - and a visible "country" for globalized poverty. Fraud and evasion is at the heart of it. You may not participate but this system is being protected by the wealthy who can afford to rig the system. TREASURE ISLANDS, Nicholas Shaxson.
Just read Treasure Islands, Owen and you will have a very clear idea of the inequity and pain global tax avoiidance brings. Congratulations on not taking advantage of these tax strategies. I'm sure many may wish they had. I think you are in a position because if you are that wealthy, that you are in the 1%, you will have influence on the dialogue of equity and humanity if you choose (as you have here). Read some of Matt Taiibi's work in Rolling Stone. If global tax avoidance were equalized, everyone would be paying less, including you.
Welcome Owen. This isn't a club. It's about economic justice and fighting for meaningful social change. Since we share common values, I look forward to working with you soon.
welcome in! glad to hear from you! Say, need a djin? I'm from the very bottom of the poverty class, i was abandoned at the age of 15 to the streets of Denver in midwinter. I never got a car for my birthday, or an allowance.
Its neat to see people crossing over. you know me personally i am out to save the humans, not just 99 percent, but everyone. I think even the rich are living in a culture that does not meet their needs and most rich are actually even unable to meet their needs above the physical need class almost the same as those in poverty. money can't buy love and too much money brings isolation. I'm totally down to be the 100 percent, and i think the solutions i have for civilization would make it better for all of us. :)
Hi, thanks for the welcome. I've been gathering you're into open source governance type stuff, is that right? What do you think of what Justin Amash has done with publishing to facebook how and why he makes every vote he does? Or the idea of having a publicly accessible webcam in every office of every government building? :)
well, i think publishing your vote solves the problem of rigging the vote... they can't steal votes if the vote record is public... if enough people do that then those votes can't be stolen.. its like vote insurance. make sure you get your vote counted by the public- not just vote counters. I think every office of a public officer really ought to be full time webcam, esp congress and mayors and senators and such, and that they should not be allowed to discuss anything off camera unless its specifically classified. I'd like to see that combined in with running every major office out of open source websites, a forum, a wiki, you know.. allow the people to take back the lobbying power to the people instead of money... let everyone in to the table instead of right now shutting we the people out. To do that i think we do need to explore radical transparency, really make sure they can never get corrupt like this again, i think webcamming everything is about time.. i mean they webcam employees in any business nowadays and these are our public employees who have in essence used secrecy to turn against us. So webcams in all those offices in combination with an open source direct democracy interface replacing the corrupt lobbying process is where i think its really at.
hey, that vote publishing idea is fantastic! It seems this could be done in a pretty straight forward fashion, no? Is there any organization behind this particular issue yet?
not that i know of. having a hard time getting organization really much. keep asking for it...
Great to hear it Owen. I'm sure there are many more like you and I hope we really can make it about everyone vs greed instead of 99 v 1.
Hey, a little greed can be a great motivator :), though I appreciate the sentiment. I guess I was out at the square yesterday and really felt it hard to get in touch because "we are the 99%" seems like such a central thing, and I am not the 99%. It seems kind of odd to say it, but the 99% thing feels a little exclusive.
Think of the 1%, instead of being the richest, as being the ones corrupting government and sacrificing the good of the majority for personal gain; think of those engaged regularly in human rights violation and destroying our earth to bloat their bank accounts. In my experience talking to people here, those are the ones this crew is fighting against. They are just not doing a very good job of expressing it.
An offer of proof: many of us support Michael Moore's speech that he gave the other night and he is definitely part of the top 1% income bracket.
I don't think anyone sees themselves as abusing the system intentionally. It's more of a systemic problem and everyone sees themselves as doing their best. We'll get the best results by loving the people, and asking for the system to change. There are no enemies. At least, that's the way I see it.
I agree with this, in fact I often try to describe this idea to people like this:
There is no "Dr. Evil" in the world sitting in a chair behind a desk saying "MWHAHAHAH I am so evil" everybody thinks what they are doing is right, they think its right for them or for the world but they think it is right.
Even Hitler, arguably one of the most evil me to have lived, thought what he was doing was right for Germany.
I dare say you just included yourself - forget all other numbers & focus on 0 - Welcome to & lets unite to build a truly harmonious Circle of Life!
you guys rock
Help us build an Australian Movement - http://www.causes.com/causes/635262-occupy-sydney
We can be 100% when the rich 1% start leading a simple, healthy and happy life and voluntarily donate all their excess unused money to Charity or Poor. Funny, but You always have the option of coming out of 1% in a blink. The 99% don't have that option to go to 1%. Talk about inequality in this country.
BTW give some charity advice to your rich friends and to reduce their shameful excesses.
I've thought about it. I considered continuing my job but donating all of my income to charity. I guess if I go back to work that's a strong possibility. The primary motive, for me, would be not the charity but avoiding the taxes which go to building bombs and blowing people up. The blowing innocent kids up overseas part; that's really got me grim on the idea of working and paying income taxes.
I'm not big on charities for their own sake, only because most of that seems like "give a man a fish"-type stuff -- short term solutions. If I'm going to help I prefer to be personally involved, and that means I can't be spending all my time just trying to keep my own head above water. That's why being rich helps -- it frees up my time so I can contribute my skills, thoughts, etc. and support those others out there working for true, sustainable positive change.
How does one go about beginning to lead a simple, healthy, and happy life? Actually, I think I'm pretty strong on the latter two already. I'm vegan for the animals, the environment, and my health. I'm pretty happy, though I do long for a greater sense of community from time to time. My life is still not as simple as I'd like it, but it's getting there.
it seems to me if i was in your position my answer would be that donating to charity is not really the most responsible thing to help the most people. If i was in the one percent i would not be donating to charity, i would be working for social and civilization and trying to create open source direct democracy. too many so called cahrities are in any case some kind of con scam. You never know if a charities services reach the intended recipient unless you do every step yourself. I don't believe in donating to big charities i have never seen them do much of anything. It seems to me that despite being in poverty when somebody fresh comes into town it ultimately ends up falling on those who CARE about those people to help them out... and i end up doing that even tho i can't afford much for a lot of people... but real charity is not about giving people money most of the time its about walking them through their process. In short, nobody has any right to judge your financial choices, we hope that you think of something good to do with your life or money... but.. its not up to us to look down our nose at you...
Donating to charity could be the most responsible thing to help the most people. Depends on what my alternatives are, which depends on my skills, capabilities, connections, etc.
But basically, what you said in your first sentence was my answer, wasn't it?
I'm increasingly thinking my time is best spent creating open source money, actually. bitcoin is already close, but it's not quite right yet. I know what needs to be done, I just have to learn a lot of technical stuff to make it happen. Participating in this community, sensing the love and intense real-ness of it is inspiring me to get to work. So thanks y'all.
right, it seems to me that how you help the most people is to have the resources and maintain them to put in a long term effort. donating to charity relieves you of the responsibility and work and looks good to some people but then..what happens next? It seems to me that we all do what we are called to do with the resources we have, and that if you make a positive difference then thats all anybody can really judge you for.
Protip: Most rich people give to charities, wherein that it is a tax write off.
Also, sling that garbage elsewhere: everyone needs to get rid of their "shameful excesses"? Donate all their excess unused money? What are you doing on the internet? Do you realize that the expense you're paying towards a cellphone and/or internet access could be used to help promote that even keel you're touting? I'm sure there's plenty of people who are worse off than you who could use that money, such as the homeless and/or those forced to eat in soup kitchens. I love how people are quick to point the finger, but then don't realize just how many excesses are in their own life which could be nixed to better another's.
Not to mention, if they just offloaded their money into charities, you'd have less jobs than we do now. A large majority of the reason why unemployment is up is that the greedy folk you -should- be protesting aren't pumping money into their companies and, where they are, they're opening them overseas for tax benefits/lower waged workers.
Or, you know, you could keep spouting out garbage ideals that didn't even work well for the so-called 99% when Communism was being heavily practiced. Whatever floats your boat.
Awesome reply!
so you are saying the only way that someone who is part of the upper class to join the occupy movement is for them to give away all the welth they have?
Sorry but there is a difference between the people who worked hard for what they have and the shysters who screw over the whole country just to make a buck.
There is nothing wrong with working hard to get where you are and enjoying the fruits of your labor.
If anything the movement should be welcoming all people who genuinely want to help with open arms with out regard to sex, race, creed, or class.
we all have a problem and its all of our problem. if one percenters step forward into the process that empowers us all to solve the problems together instead of in a combative manner. Real solutions i think should be agree-able to everyone whos reasonable, being a one percenter does not automatically make you incapable of reason or ethics or insight or wisdom. Its important to see the problems as being the problems and separate them in many senses from people. Even the rich are victims in some sense of the problems. we can solve it if we try in a more evolved manner than most people seem to think.
agreed
Ok let's see. I am a harvard graduate with great management experience. I join a company as CEO. This company is making moderate/decent profits as of now. I made some decisions due to which my company has to make a loss of 5 billion (just like Bank of America now). Since company is at loss and wallstreet wants me to show profits, also since my job is at risk, I do a lot of cost cutting, I lay off 10,000 employees, outsource 10,000 to another country, cut all employees salary by 20% and finally I show a profit. Since I showed a profit, I get a bonus from my company. Now you tell me what should be the reward for this hard work of mine.
none it is your fault you had to scramble to turn a profit, you made the bad decisions that caused the company to take a loss and you should take the heat for that loss.
That's what you say ? Nobody cares what you think. I ain't getting any punishment, I get a bonus and a promotion. This is reality in Corporate America today.
You know who got the punishment, all the people I laid off and my current employees had to take a salary cut.
right but not all people with money get there by doing that is all I am saying