Author Topic: Occupy Wall Street is wrong  (Read 293 times)

0 Members and 1 Guest are viewing this topic.

Offline Dixie Dude

  • Trade Count: (6)
  • Senior Member
  • *****
  • Posts: 4129
  • Gender: Male
Occupy Wall Street is wrong
« on: October 25, 2011, 07:14:27 AM »
Check this out:
 
http://finance.yahoo.com/blogs/daily-ticker/believe-not-wall-street-doesn-t-dominate-top-183915328.html
 
Statistics show different.  The 1% bubble is bursting. 
 
Top 1% breakdown:
 
Wall Street Executives:  14%
Other Industry Executives:  30%
Medical Professionals:  16%
Lawyers:   8%
 
Income threshold for top 1% is only $343,927 NOT $1million or more.
 
This same 1% is going to loose 40% from a year ago.  Therefore the bubble is bursting.  Most of these same people are the small business owners who create most of the jobs.  Doctors, for instance, hire nurses, secretary's, and receptionists.  Lawyers hire legal aids and secretaries.  Lots of small and medium industries in this so called top 1%. 
 
Get rid of manufacturing corporate income tax, and bring home manufacturing jobs.  Home building will follow. 

Offline Dixie Dude

  • Trade Count: (6)
  • Senior Member
  • *****
  • Posts: 4129
  • Gender: Male
Re: Occupy Wall Street is wrong
« Reply #1 on: October 25, 2011, 07:59:44 AM »
I somewhat dissagree.  Corporate taxes are set at about 30-35%.  They get tax breaks for offering medical insurance, 401-k plans, pension plans, and charity work.  That may be why some don't pay taxes.  However, if we don't tax manufacturing, maybe some of the American owned or even some foreign owned companies will come back or deside to locate here.  I also think we need to have a tarriff IF we find countries like China are subsidising an industry to put the American competitor out of business or get them to locate in China.  If we can get manufacturing back, it will be a bold step to putting Americans back to work, even if only half the companies come back it would drop the unemployment by 1-3% or more.  Add that to opening up drilling and fracking, onshore and offshore, then we lower it another 1-2%.  We can start to get back in business of growing the economy so the "pie" will be bigger for all.