The great unwashed masses descend upon Wall Street. To tweet.
Is this my generation’s “make love, not war?” I certainly hope not. Apparently a mixture of the unemployed, stoned, and those simply needing a break from their parent’s basement, took a couple of days away to protest The Man. In other words, some losers grabbed some sleeping bags and/or cardboard boxes to show Wall Street they mean business. What business you ask? No one’s really sure.
At least one person at the protest/sit-in/opportunity to smoke marijuana with strangers was willing to turn off the laser-light-show in her head long enough to talk with a reporter:
‘Wall Street is certainly the heart of why we’re here. It’s the corporations — the big banks in this country have been destroying this country,’ said Fithian. ‘Overfees or high mortgages, student loans, the banks are touching every aspect of our lives.’
She added that banks and the wealthy have taken money for their own interests and their own survival.
‘The people here are saying enough of that,’ said Fithian.
-Sigh- I’m willing to bet thirty five cents and an Almond Joy that Ms. Fithian is one of the thousands of youngsters who just graduated from five years of college, only to discover that a “sociologist” and “political scientist” are jobs that only exist at the college she just left. Is her anger warranted? Not really. But being a victim is not about warrants. Or something.
Are these really the issues that compel the bored to protest now days? “Banks and the wealthy have taken money for their own interests and their own survival?” What, exactly, does Ms. Fithian believe the banks and the wealthy should be doing? Not investing in their own survival? Should they instead take their paychecks and grind them into a pulp-like substance and feed it to starving children in Africa? Wait, don’t answer that one.
We can all agree that the economy sucks, and it’s only getting worse, right? Does Wall Street share some of the blame in causing the collapse? Sure. But has Wall Street done anything that could conceivably be linked to the continued economic slump? Not really.
Instead, we have a president who wants to give hundreds of billions of dollars to unions and local governments…which is something he’s already tried. And how’s he going to pay for all of it? Largely with tax hikes on everyone earning over $250,000/year. Of course, despite what the left and Warren Buffet will tell you, the mega-rich won’t be touched by the tax increase. Why? Because they don’t earn all that much in terms of “income.” The people shouldering the brunt of the tax increase will be those trying to become wealthy, as well as business owners who file as individuals. Want to truly affect Mr. Buffet? Try taxing his “wealth” gained from any source. Good luck passing that tax though.
Why do I continue to harp on taxing the rich? Well, for one, because I don’t believe increasing anyone’s taxes, for any reason, will spur economic growth. Will the stimulus create some jobs? Absolutely. But it will create temporary construction jobs that will cost the taxpayer an absurd amount of money per job created. And when the money is all spent, those jobs will go away, and the economy won’t be in any better position than it was before the money was spent. How do I know this? Contrary to the belief of thousands of my loyal followers, it’s not because I’m some sort of genius; it’s because I can use the Google to see what happened two years ago with the last stimulus.
So, instead of protesting a bunch of people who went to Harvard because their parents had a building named after them, why not go protest the White House? At least Wall Street isn’t trying to take your french fries away.