Posted by Lor on October 19, 2011 at 12:26:01:
In Reply to: Book aobut the occupy wall street movement posted by JimHK on October 18, 2011 at 12:30:24:
Will it do any good? At least it is bringing media attention to a big problem in America, corporate greed and insensitivity toward their workers.
Even though Wall streeters are laughing the protests off, they can no longer ignore them. They ask, what is the rabble protesting about now? Well, here is the answer:
1. Inequity. The wealthiest 1% own 34.6 percent of all privately held wealth, and 42.7 percent of all financial wealth. The top 1% take home an average of $1.3 million per year (after they've written off every possible clever tax write-off), while the average American earns just $33,000 per year. And yet the Republicans (who represent the rich) refuse to raise their taxes. The bottom 40 percent of Americans (120 million people) hold just 0.3 percent of the wealth.
2. Greed. Because they set their own pay, the average S&P 500 CEO makes $11.4 million per year. This even after they got so greedy they bankrupted their companies and had to be bailed out by us taxpayers.
: What do you all think of the occupy wall street movement (that has now spread far beyond New York)?
: Some questions:
: Will it help or hurt? Make a change or not? Is this deja vu all over again (the sixties)? How will it affect next year's elections?