Forum Post: "My Advice to The Occupy Wall Street Protesters" by Matt Taibbi
Posted 13 years ago on Oct. 22, 2011, 5:13 a.m. EST by ComplexMissy
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Article from the current Rolling Stone issue:
http://www.rollingstone.com/politics/news/my-advice-to-the-occupy-wall-street-protesters-20111012
Good link...thanks.
Thanks ComplexMissy for the reference. Matt Taibbi has always had a pretty good finger on the pulse of the issue. I liked everything he writes in this latest article. He might have demonstrated better his claim that this is indeed a non-partisan protest/occupation by not naming a political movement in the first paragraph, which only serves to lose a few readers of his article who might otherwise do so. And, when it comes to political donations, I think we can go one step farther and suggest that no company or private citizen be allowed to contribute a single penny to federal and state elections. Matt's suggestion is probably more easily implementable however--starting with not allowing companies who have been bailed out to use that money for election contributions. Of course, I'd sure like to make sure that no private company, including banks and automotive companies, are ever bailed out again.
I will be the first official OWS candidate to win the next election for the CT 4th district. My platform is described on my blog that I have been writing since 2006. read it http://overthecoals.blogspot.com/
More to come. I will be the Green Party candidate. Please support me and please nominate a Green Party candidate in every USA district.
Invite me to the general assembly to hear my strategy. read my blog http://overthecoals.blogspot.com/
MIAMI (CBSMiami.com) – Florida is touting the new jobs it created Friday after a positive unemployment report. But based on numbers from all W-2’s filed in the country, the wages simply aren’t keeping up.
According to the Social Security Administration, 50 percent of U.S. workers made less than $26,364 in 2010. In addition, those making less than $200,000, or 99 percent of Americans, saw their earnings fall by $4.5 billion collectively.
The sobering numbers were a far cry from what was going on for the richest one percent of Americans.
The incomes of the top one percent of the wage scale in the U.S. rose in 2010; and their collective wage earnings jumped by $120 billion.
In addition, those earning at least $1 million a year in wages, which is roughly 93,000 Americans, reported payroll income jumped 22 percent from 2009.
Overall, the economy has shed 5.2 million jobs since the start of the Great Recession in 2007. It’s the worst economic downturn since the Great Depression in the 1930’s.
Another word about the first Great Depression. It really was a perfect storm. Caused almost entirely by greed. First, there was unprecedented economic growth. There was a massive building spree. There was a growing sense of optimism and materialism. There was a growing obsession for celebrities. The American people became spoiled, foolish, naive, brainwashed, and love-sick. They were bombarded with ads for one product or service after another. Encouraged to spend all of their money as if it were going out of style. Obscene profits were hoarded at the top. All of this represented a MASSIVE transfer of wealth from poor to rich. Executives, entrepreneurs, developers, celebrities, and share holders. By 1929, America's wealthiest 1 percent had accumulated around 40% of all United States wealth. The upper class held around 30%. The middle and lower classes were left to share the rest. When the majority finally ran low on money to spend, profits declined and the stock market crashed. Of course, the rich threw a fit and started cutting jobs. They would stop at nothing to maintain their disgusting profit margins and ill-gotten obscene levels of wealth as long as possible. The small business owners did what they felt necessary to survive. They cut moreo jobs. The losses were felt primarily by the little guy. This created a domino effect. The middle class shrunk drastically and the lower class expanded. With less wealth in reserve and active circulation, banks failed by the hundreds. More jobs were cut. Unemployment reached 25% in 1933. The worst year of the Great Depression. Those who were employed had to settle for much lower wages. Millions went cold and hungry. The recovery involved a massive infusion of new currency, a World War, and higher taxes on the rich. With so many men in the service, so many women on the production line, and those higher taxes to help pay for it, the lions share of United States wealth was gradually transfered back to the middle class. This redistribution of wealth continued until the mid seventies. This was the recovery. A massive redistribution of wealth.
Then it began to concentrate all over again. Here we are 35 years later. The richest one percent now own well over 40 percent of all US wealth. The lower 90 percent own less than 10 percent of all US wealth. This is true even after taxes, welfare, financial aid, and charity. It is the underlying cause. No redistribution. No recovery.
The government won't step in and do what's necessary. Not this time. It's up to us. Support small business more and big business less. Support the little guy more and the big guy less. It's tricky but not impossible.
No redistribution. No recovery.