53 Percenters: Conservative campaign against Americans who don’t pay federal income taxes. – Slate Magazine

53 Percenters: Conservative campaign against Americans who don’t pay federal income taxes. – Slate Magazine.

The Economics of Occupy Wall Street

The protesters say the top 1 percent of Americans have gotten too rich. Are they right?

It is not easy to say just what Occupy Wall Street wants; there is no concise list of specific demands. But the gist of the  quickly snowballing movement is clear. Wall Street has not accepted responsibility for its role in the financial crisis and ensuing recession. It has done more harm than good for average citizens and businesses. On top of all that, average Americans are “getting nothing while the other 1 percent is getting everything. We are the 99 percent.”

One thing is inarguably true: The 99 percent don’t have 99 percent of anything, money-wise, in the United States. But just how bad is the skew toward the top 1 percent?

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Read the full story here: Slate Magazine

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Filed under banking, economy, poverty, society, taxation, USA

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