Tuesday, October 11, 2011

Who are the 1%

As you know, the Occupy Wallstreet protests continue to spread.
One of the catchphrases you're already sick of is, "We are the 99%"
But who are the 1%?

Click here to read an article from the New York Post explaining that the "top one percent" are determined by average household incomes.
Which is missing the point. No one is protesting wages.
The 1% is not actually a numerical figure. It is not determinable by who cashes what cheque.

Here is an article that goes into much more detail about the real 1%, described by Citibank analysts as a plutocracy. Click here

So the 1% are the people who run the groups that have the greatest profits. For instance, a Bank's profits, lets' say, in the neighborhood of 6 billion per quarter. (Quite realistic.) So there will be bonuses for some and a short trickle down for those who gave "the extra effort." There will be the expected growth any corporation works toward.

The 99% knows these things happen. They happen in their lives too. (That is to say, if they have jobs and work hard, they too are rewarded.)

The problem is the descrepancy between our "leftovers" and your "leftovers."

Naysayers who come back with "if you take away bonus, you'll take away incentive." Again, are missing the point. Same with those of you who would argue that income tax shouldn't apply to corporate profit. Why not? Imagine what could be done.

Well, it has been imagined before.

I can tell you one thing, the 1% aren't anywhere near wall street. 

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