Wall Street Protests

[BigV]

Originally Posted by TheMercenary

The wealthy pay almost all of the total tax in this country now, federal, state, and local combined.

What are the protesters seeking? There are a hundred answers to that question.

I want to say "Liar", but I'll content myself by saying "Cite".

And while you're at it, why don't you give us all *your* answer to your oft-repeated question "What constitutes 'wealthy'"?

Here's my cite.

But how many people know that households making less than $75,000 collectively paid more federal income tax than those making $1 million or more?

Or that income taxed at the next-to-lowest rate, 15 percent, brought in more government revenue than all capital gains taxes plus the two top brackets, which apply only to the top 2 percent of earners?

Or that almost half of the top 1 percent made less than $500,000? Or that five out of six made less than $1 million?

The fact is that the government relies far more on the bottom 99 percent than the top 1 percent for federal income taxes.

[TheMercenary]

Occupy Wall Street in chaos: Money disputes, freeloaders imperil protest

CHICAGO, October 25, 2011 – Organizing a global anti-capitalist revolution is not as easy as one might think – at least that is what Occupy Wall Street leaders are discovering.

From money squabbles and freeloading ex-cons to the complaints of New Yorker residents and the specter of public health code violations, protesters are being given a crash course in Government 101, whether they like it or not.

Recently, Occupy Wall Street organizers have found themselves besieged with problems from all corners. Questions are now being raised about the $500,000 in donations Occupy Wall Street’s Finance Committee has collected since the protests began.

The irony of the situation is not lost on Occupy Wall Street campers, who claim that Finance has yet to “redistribute the wealth.” According to news sources, drummers requested $8,000 to replace musical instruments that had been destroyed by vandals in Zuccotti. Occupy Wall Street leadership denied the request and now some protesters are threatening a split


Associated Press
“I hope Mayor Bloomberg gets an injunction and demands to see the movement’s books. We need to know how much money we really have and where it’s going,” said disgruntled protester Bryan Smith.

Smith, who has been raising money for Occupy Wall Street, also criticizes the lack of basic provisions for his fellow protesters. “So many people need things, and they should not be going without basic comfort items -- and I was told to fill out paperwork. Paperwork! Are they the government now?” said Smith.

But Occupy Wall Street’s financial red flags and internal conflicts are just the tip of the protester iceberg. By offering free food, shelter, and medical care to anyone who signs up, the organization has also made itself a beacon to every homeless person - and every freeloader.

Scores of vagrants and criminals have unofficially joined the protesters’ ranks. One of them, ex-con Matthew Maloney, 49, was released from prison on September 30. Maloney, a convicted thief, has spent the last three decades in and out of prison and says he learned about the protests on television.

But others are here because they cannot afford their rent or do not like the homeless shelters.

The strange brew of humanity has created unexpected security issues for the "Occupiers." Public drunkenness, knife fights, and theft are more and more commonplace. With the seasonal shift, campers are also dealing with dropping temperatures and rain. Dry clothing – even socks – are in short supply, and protesters are irritated with the "takers."

"If you're going to come here and get our food, bedding and clothing, have books and medical supplies for no charge, they need to give back," said Lauren Digioia, 26, told the New York Daily News."There's a lot of takers here and they feel entitled."

But, Tea Party leaders argue, isn’t this socialism at work? Inadvertently, Occupy Wall Street has created what it says it is demanding, albeit on a much smaller scale: free food and shelter for the less fortunate and free medical care for all. It is a system where some are working and others, taking. Even theft, arguably, is a “redistribution of wealth” the campers have listed in their anti-Wall Street demands.

"People are waking up to the plain facts that socialism does not work. There is only so much you can "redistribute" before there is nothing left," said Joe Terrell of Northern Illinois Tea Party. "A popular paraphrase of Prime Minister Thatcher says, 'The only problem with socialism is that eventually you run out of everyone else's money.' I think that quote sums it up perfectly."

Associated Press
http://communities.washingtontimes.c...es-freeloader/

[Undertoad]

But I think a far more important question to ask and answer is about the lowest two quintiles. Forty percent of our population is living on these kinds of dollars.

ME!!! My income, for the last three years, has been lowest quartile. This year, though a good deal of effort -- starting a business with no money down, during a recession -- I will move into the second one. I have gotten through by family and other charity. When you imagine the lowest quartile, think of me, won't you?

OUR REPRESENTATIVE GOVERNMENT DOES NOT REPRESENT THESE PEOPLE

SAME AS IT EVER WAS, but speaking as one of them, I voted and had more of my selections win than ever before in my life! Wheeeee!!

IT IS ENTIRELY IN OUR SELF INTEREST, ALL OF US, TO RAISE THE STANDARD OF LIVING FOR OUR FELLOW CITIZENS AT THIS END OF THE SCALE, THE "LESS FORTUNATE".

THE ONLY WAY TO DO THAT IS THROUGH ECONOMIC GROWTH, as a rising tide lifts all boats.

Where will he eat? Jail? Under a bridge? At a shelter?

Well, tonight it will be in front of the TV, watching "Jeopardy!" like everyone else. Thanks for asking!

[TheMercenary]

So let me ask you, we should redistribute wealth to the government so Obama can send money to Solyndra? How about to GE? They paid little to no tax, and Obama employs the CEO with our tax dollars. Maybe they should give them to the public sector unions?

Wealthy in this day and age is anyone who has more than "you" or has more stuff than "you" that you could never hope to have. If you are unemployed, wealthy may be the person who has a job while you have none. Wealthy may be the person who makes 2 million a year while you make 600k. Wealthy may be the welfare mother who has 6 children from 6 different babies daddies and gets more in public assistance than you, since you only have one kid. It is wealth is wealth envy.

The wealthy pay almost all of the total tax in this country now, federal, state, and local combined.

In 2009 Federal Income tax paid:

Top 1% PAID an adjusted rate of 24.01%

Bottom 50% paid 1.85%
(source IRS)

Total Income tax paid 1980 - 2009:

In 1980 the top 1% paid 19.05%, in 2009 they paid 36.73% (this is nearly a 100% increase in the amount of taxes paid)

In 1908 the bottom 50% paid 7.05%, in 2009 they paid 2.25% (this is more than a 100% reduction)

Look at percent of AGI paid by top 1% and the bottom 50%!

http://www.taxfoundation.org/news/show/250.html

Yea, I am correct.

What are the protesters seeking? There are a hundred answers to that question.

There is no single group or person who can elicit what these people want. None. This is, as I have said numerous times before, just like the WTO protests. It is comical.

I want to say "Liar", but I'll content myself by saying "Cite".

Why would anyone question the Great and Powerful Oz?

[classicman]

Originally Posted by TheMercenary

BLAH BLAH BLAH ...

Take it to the tax thread. >>>>>>

[TheMercenary]

Originally Posted by classicman

Take it to the tax thread. >>>>>>

Just answering the Great and Wonderful Oz!

Ummmm... and no. I will take this fight to where ever it may take me to make sure OBAMA is never re-elected. BY ANY LEGAL MEANS!

[classicman]

Is anyone else getting nervous that these protests are going to lead to something like this?

[Pico and ME]

Classic, she is just referring to the picture, not you because you posted it.

[SamIam]

Originally Posted by Pico and ME

Classic, she is just referring to the picture, not you because you posted it.

Exactly, Pico! I was referring to the comments on the sign that guy held - not Classic, personally.

[TheMercenary]

Originally Posted by SamIam

Exactly, Pico! I was referring to the comments on the sign that guy held - not Classic, personally.

Cry me a GD River......

[SamIam]

Originally Posted by TheMercenary

Cry me a GD River......

So, there we have it. Merc's final comment on low income children, seniors, and disabled who will be forced onto the streets in great numbers with no where to go and nothing to eat and no medical care. I'm beginning to think that you are very clueless or very mean. For your sake. I hope its clueless, although ignorance can often cause as much or as more harm as anything else.

[TheMercenary]

Originally Posted by SamIam

So, there we have it. Merc's final comment on low income children, seniors, and disabled who will be forced onto the streets in great numbers with no where to go and nothing to eat and no medical care.

Ummmm.... I never said that, those are your words. Or maybe you support that dumbassed VP who repeatedly states that more women will be raped if we don't pass President Zero's Jobs Bill? Or are you clueless or worse ignorant about the issue?

I'm beginning to think that you are very clueless or very mean. For your sake. I hope its clueless, although ignorance can often cause as much or as more harm as anything else.

Actually, no, I think welfare is a necessary evil of all civil societies, ours just happens to bread generations who learn to game the system.

[classicman]

Lucky for you, or I'd have you voted outta the club.

[classicman]

Dude - that's uncalled for.

[TheMercenary]

Originally Posted by classicman

Dude - that's uncalled for.

Actually no, that is how I feel.

Sling it, expect it to be slinged back.

Times are tough for a lot of people. I am completely sympathetic to that.

This country is heading for the shitter. And it has not a GD thing to do with me. But watch out for the back lash in 2012, there may be a few surprises on the horizon.