To the Valley News:
I think the “Occupy Wall Street” movement has merit but the whining of the 99 percent is really getting under my skin.
I recall reading that some 40 percent of Americans are involved in Wall Street. If you are holding a mutual fund you are funding Wall Street in all its bloated glory. Consider also the luxury of a trip to one of the protest sites. I bet the 99 percent drives an SUV that gets 25 miles to the gallon or less, eats at McDonald’s and sips coffee at Starbucks. Heatedly argue if you like, but these things are really quite expensive. The waste of fossil fuel is, of course, priceless. I suspect it’s the 99 percent who are at work shredding the cosmic fabric by maintaining and expecting to maintain the highest level of wasteful consumerism on the planet.
We whine about the economy, What the devil are 8 billion people supposed to do for “work”'?
We already have a system that pays Americans handsomely to put strain on the global environment.
Perhaps we should be more inclusive? Many make twenty thousand dollars a year or more and whine about pay, pensions and health insurance: for shame!
I think Wall Street is important to the culture we’ve become. Apparently people in China and other places will walk or pedal to work to make the things that we buy. We fatten in our gas guzzlers while flipping money. Think about it; that million dollar bonus. The recipient is going to pay out 36 percent of it in income tax. I might pay out 15 percent of what I can scrape up if anything at all. That 300 billion dollar eighteen month run-up in Apple Computer stock in 2009-10 (likely an act of unprecedented greed) will certainly make the tax register ring. No wonder the SEC looked the other way when Bernard Madoff was being questioned and bondholders were about to be left holding the bag. Bernard was spinning the wheels! The “Great Recession” has changed none of this. It’s business as usual on Wall Street. Make no mistake; the Great Grab is in full swing. We now pay those who work for us, China, for example, with promissory notes and, if I read this culture correctly, we have no intention of paying them back with real money. We can walk into places like Iraq and Libya to, I’ll put this politely, “get” our money back but it may take some trickery to wrest it from China. Government debt now pays some 2% in interest. The greatest scam of all is dawning.
I’ll close this rant with some more direct opinions/ suggestions: Earn, save and invest; don’t expect a pension from any business or government and if you are lucky enough to have a good one don’t expect much of Social Security. Social security/Medicare/Medicaid should be just that-security; not a ticket to go on a Caribbean cruise. Health insurance should not be paid for by business. This is not the time to insulate individuals from a greedy financial monster. Each and every one should get a first hand taste of the ugly pilfering that is profiteering from human misfortune. If government chooses to cover its people, they should be equally and not lavishly covered. Government could be smaller or it could assume some private sector not-for-profit basis. All walks could share the work that there is to do a little more equally. The tax cap on capital gains and dividends is absurd; get rid of it and make the change retroactive to 2010. And, for Christ’s sake, get off the gas before we are all unable to afford bread. I’m suggesting that we lay off of the greed, share a little more, and stop trying to be so filthy clean when it comes to accepting risk.