Occupy Wall Street/Share The Wealth

Occupy Wall Street (OWS) is an ongoing series of demonstrations in New York City based in Zuccotti Park in the Wall Street financial district. The protests were initiated by the Canadian activist group Adbusters. They are mainly protesting social and economic inequality, corporate greed, corruption and influence over government—particularly from the financial services sector—and influencial lobbyists. The protesters’ slogan, “We are the 99%,” refers to the difference in wealth between the wealthiest 1% and the rest of the population.
The initial protest started on September 17, 2011, and by October 9, similar demonstrations were either ongoing or had been held in 70 major cities and over 600 communities in the U.S. Internationally, other “Occupy” protests have modeled themselves after Occupy Wall Street, in over 900 cities worldwide. The inspiration of Lybia. Greek Austerity, and global poverty .
Several wealthy supporters have joined the protest, and have started a blog, west and with the 99percent in which they say, “I am the 1%. I stand with the 99%,” and give their stories. The granddaughter of oil tycoon H.L. Hunt, Leah Hunt-Hendrix, 28, was quoted as saying “We should acknowledge our privilege and claim the responsibilities that come with it.”[ Farhad Ebrahimi, 33, has been participating in the Occupy Boston protest wearing a T-shirt that says, “Tax me. I’m good for it.”
On September 19, Roseanne Barr, the first celebrity to endorse the protest, spoke to protesters calling for a combination of capitalism and socialism. With the destructive aspect of capitalism and alternative economy
There is a notion of sharing the wealth, since jobs are disappearing due to automation and quality jobs are rare. And the notion of Universal Income needs to spread.
1. No person would be allowed to accumulate a personal net worth of more than 300 times the average family fortune, which would limit personal assets to between $5 million and $8 million. A graduated capital levy tax would be assessed on all persons with a net worth exceeding $1 million.
2. Annual incomes would be limited to $1 million and inheritances would be capped at $5 million.
3. Every family was to be furnished with a homestead allowance of not less than one-third the average family wealth of the country. Every family was to be guaranteed an annual family income of at least $2,000 to $2,500, or not less than one-third of the average annual family income in the United States. Yearly income, however, cannot exceed more than 300 times the size of the average family income.
4. An old-age pension would be made available for all persons over 60.
5. To balance agricultural production, the government would preserve/store surplus goods, abolishing the practice of destroying surplus food and other necessities due to lack of purchasing power.
6. Veterans would be paid what they were owed (a pension and healthcare benefits).
7. Free education and training for all students to have equal opportunities in all schools, colleges, universities, and other institutions for training in the professions and vocations of life.
8. All people should receive a Universal Income of $30,000 annually. Teens should maybe get $4,000 a year.
9. The raising of revenue and taxes for the support of this program was to come from the reduction of swollen fortunes from the top, as well as for the support of public works to give employment whenever there may be any slackening necessary in private enterprise.
Enveloping a graduated progressive tax.

What the Occupy Wall street people need is a political party that will get them there. In States elected to change ballot access laws, nationally for a New Government. A Socialist one we hope.

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2 thoughts on “Occupy Wall Street/Share The Wealth

  1. Interesting concept you have here. Unfortunetely we need to educate the 99% on how the top 1% of the rich Fat Cats are controlling our economy and politics.

    Right now the Republican Party politicians have lost touch with the working class and the poor. The Wall Street Occupiers and those throughout the major cities in America have started to show the world that enough is enough. It’s time for the rich Fat Cats to show real compassion to those who have seen their jobs disappear, their wages and benefits [if they’re lucky to have benefits] decline.

    The income disparity in America needs to be corrected!

    Frank

  2. Wall Street is a confidence trick, a dazzling edifice built on paper promises, gambling, bets and rampant speculation. Wall Street doesn’t manufacture or produce anything. The Wall Street however attractive it may appear is built on paper.
    Modern day bank robbers are at Wall Street but they wear grey suits and not masks. Rampant speculators, propagandists and financiers of Wall Street are given some unfair advantage over the average consumers and taxpayers and the cumulative effect of the people watching selfishness prevail over the public interest has been an undermining of the public’s trust in the present US government. There’s no question the Wall Street is rigged against the average consumers and taxpayers. The Wall Street has a lot more information. Wall Street jerry-rig the system so that Wall Street always win. If the Wall Street loses trillions, the US Treasury will bail the Wall Street out so it can go back and do it again.
    50 trillion dollars in global wealth was erased between September 2007 and March 2009, including 7 trillion dollars in the US stock market, 6 trillion dollars in the US housing market, 8 trillion dollars in the US retirement and household wealth, 2 trillion dollars in the US individual retirement accounts, 2 trillion dollars in the US traditional defined benefit plans and 3 trillion dollars in the US nonpension assets. Greed, arrogance and incompetence created a massive meltdown, cost trillions, and still Wall Street comes out richer and more powerful.
    There are trillions dollars of new money taken again from Americans to make deals and hand out outrageous bonuses. And when these trillions run out Wall Street will come back for more until the dollar becomes junk. The value of the US dollar declined very significantly during the last 70 years. The value of the US dollar in 1940 was worth 2,000% more than the value of the US dollar now.
    Many big US manufacturers are outsourcing to Mexico and China to increase their profits, adding more unemployment in the USA. Manufacturing jobs in the USA declined 37% between 1998 and 2010. Since manufacturing industries declined in the USA, the US competitiveness in the global marketplace is also declined.
    Robust financial markets don’t imperil capitalism. In the early 1980′s Wall Street began to escape reasonable important regulations of the marketplace. The US government gradually adopted a “too big to fail” policy for the Wall Street, saving lenders to failing businesses from losses. The demise of Glass Steagall act helped spawn the credit crisis by allowing the Wall Street to create financial instruments that escaped reasonable limits, including constraints on speculative borrowing and requirements for the disclosure of important facts. The extremely liucrative hedge funds and other risk management derivatives including credit default swaps don’t fund or invest in successful growing businesses. The credit default swap market was the single biggest cause of the crash 4 years ago.
    The Wall Street’s suicidal capitalism built on rampant speculation eventually posed an untenable risk to the US economy—a risk that culminated in the trillions of dollars’ worth of the US government bailouts and guarantees that the US government scrambled starting in late 2008. But in 2008 the US government was compelled to replace private risktakers at the Wall Street with government capital so that money and credit flows wouldn’t stop, precipitating a depression. As a result, these Wall Street became impervious to the vital market discipline that the threat of loss provides. The Wall Street lenders to financial markets continue to understand that the US government would protect them in the future if necessary. This implicit guarantee by the US government harms capitalism and economic growth.
    The top 6 US banks had assets of less than one fifth of US GDP in 1995. Now they have two third of US GDP. The financial crisis was created by the biggest US banks to consolidate power. The big banks became stronger as a result of the bailout by the US Treasury. The big banks are turning that increased economic clout into more political power. Wall Street has undue influence on the US government policies and this situation reflects a failure of democratic representation for the other 99 percent Americans.
    Oligarchy is the political power based on economic power. And it’s the rise of the Wall Street in economic terms, that it’d turn into political power. And Wall Street then feed that back into more deregulation, more opportunities to go out and take reckless risks and capture trillions of dollars.
    Wall Street only has the lobbyists. Today more than 42,000 Wall Street lobbyists manipulate USA’s 537 elected officials with huge campaign contributions that fund candidates who support their agenda. It no longer matters who’s the President of USA.
    The political and economical leadership of the US has chosed to cartel profits and transformed the US economy to serve the colluding and unlawful oligarchy. The political and economical leadership of the US is bailing out failed paradigms with trillions of dollars while committing social injustice to its people. The political and economical leadership of the US including the US Congress have now become Wall Street’s “Trojan Horses”. The US banks are borrowing money at near zero interest from the US government, then lending it back to the US government at even mere fractions higher interest than they are paying. The net interest margin made by the US banks by lending the money back to the US federal government in the first 6 months of 2011 is 210 billion dollars.
    Due to the oligarchs’ rapacious looting and their purchase of a politically protected luxurious lifestyle, the people of the US are on the road to permanent serfdom under a police state. The democracy was not given to the people of the US on a platter. It is not theirs for all time, irrespective of their efforts. Either people of the US organize and they find political leadership to take this on or they are going to be in deep trouble.
    The failure of governance to address the current critical issues have already produced catastrophic consequences. Now we are experiencing a major global paradigm shift and it is still unfolding. Thirty-two US states including California, Illinois, Nevada, Arizona, Florida, New Jersey and Michigan are on the brink of insolvency as their tattered and fading economy is now more dire than ever. Inevitably in very near future the US government will order police or military to martial law which may lead to a second American revolution.

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