Saturday, October 29, 2011

Occupy Wall Street---Trying to Understand the Movement

Social activist and movie producer Michael Moore is in the upper 1% and he seems almost apologetic that he has achieved a very nice life style because of his success. Well, Michael, if you need to feel less guilty about your earned wealth, just wire this blogger $100,000 dollars if that will make you feel better!

Movie Producer Michael Moore

There is nothing wrong being in the upper 1% income bracket in the United States as long as you arrived there honestly with good hard work.

I have been trying to get a handle on understanding the Occupy Wall Street movement.

I view the Occupy Wall Street movement as composed of people who are angered that some of the very wealthy have corrupted laws and institutions that not only have made them incredibly wealthy but have destroyed the opportunities for those in the lower economic levels to be successful.

It is a well-deserved and directed anger towards a system that has allowed the purchasing of corporate stocks, bonds, and commodities which have made some people very wealthy on unearned income and at the same time have ruined not only the American economy but other economies abroad.

The Occupy Wall Street protestors are justifiably angered at a government system which has gone incredibly wrong and appears to be manipulated by the very affluent of Americans.

This is not a first time in American history that special interests have seized control of the government, but maybe this time the blatant corruption is very visible. Both political parties have been participants and of course the poster child  for corruption are the  Republicans which have no problem openly supporting the continued corruption under the guise corporations and lower coporate taxes and reduce regulations will stimulate a stagnant economy.
But before the lower 99% goes attacking the upper 1%, let’s recognize that many of those in the 1% have and still contribute quite handsomely to charities. Many of these wealthy individuals have established some foundations, such as the Bill and Melinda Gates Foundation, which benefit Americans of all economic levels. Many of these wealthy men or women as for example Warren Buffet recognize that those in their income level do need to contribute more in taxes.

Many of the wealthy entrepreneurs have invented products or have provided services, which benefit many people of all different economic levels, which have made the United States a successful economy. Americans love success stories as recently evidenced by the almost national mourning over the death of Apple Founder Steve Jobs.

The upper 1% income earners have entertained, employed, and governed the remaining 99% of us.  However, the American consumers have empowered these folks to earn ridiculously handsome incomes as evidenced by the salaries of corporate CEOs, athletes and celebrities.

The American consumers either by voting or not voting have placed in power the politicians who readily represent the special interests which have formed a banking system and government which appear often times to be the personal piggy bank of some of the wealthiest of Americans and corporations.

Those that complain about the 1% could it be out of jealousy of not being right up there with these with men and women?

Yet, is it not the American dream to achieve economic success?

Economic success does not mean millionaire status. Rather economic success is having a reliable income, which can free a person and his or family from worrying about the necessities of life. Economic success affords a person to have the opportunity to enjoy the simpler things of life as going out to eat, going on a family vacation, owning or renting a nice home; playing a weekly round of golf, assisting the kid through college, adding more money in the church collection boxes etc.

However, and this is not socialist thinking, along with economic success goes higher taxes to pay for and fund the American system which has allowed a person to become wealthy and live in a country which also secures his or her wealth.

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