meus intuitus

Why Occupy Wall Street?

leave a comment »

The top 1% hold 42% of America’s financial wealth.  Over the last 30 years, average CEO salary has increased from 50x that of workers to over 300x (http://sociology.ucsc.edu/whorulesamerica/power/wealth.html).

Job growth is actually the worst in this last decade with a 35% top marginal tax rate compared to other decades with 50%, 75%, and even 90% (http://www.americanprogress.org/issues/2011/06/marginal_tax_employment_charticle.html).

The Glass-Steagall Act, a bank regulatory law enacted in response to the first Great Depression that separated retail (your savings) and investment banking, was repealed in 1999.

Citizens United v. FEC (2010) grants corporations the right to spend unlimited sums of money on politics on the grounds that they have “personhood” and so have free speech rights.

Income inequality has been increasing since the 1970s: The “top 1%” are getting wealthier while the poor stagnate and the middle class shrinks (http://en.wikipedia.org/wiki/Income_inequality_in_the_United_States).

The solution:  Campaign finance reform.  Get corporate money out of politics.

Advertisements

Written by meusintuitus

October 18, 2011 at 7:02 pm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: