17 October 2011

More on the Occupiers

A couple quick points regarding some of the demands or whatever they are of the Occupiers:

The top 1% of earners in this country pay >38% of federal income taxes; almost 50% of others pay no federal income tax.

The American economy is not a closed system. Yes, the top 1% are taking in a higher percentage of GDP. But GDP growth over the last 40 years has out-paced population growth. The pie has grown at a faster clip than the number of people at the party, as it were.

Also, since the economy isn't a closed system, person A making $500 million/year doesn't "cost" me, you or anyone else one red cent. His wages, my wages and yours are based on the marginal product of our respective labor. Steve Jobs' $7billion estate didn't take money from anyone else.

The system is not perfect and life is not fair. Our country was established to create a more perfect union, the founders knew that it would never be perfect. They also established a government that was to promote the general welfare. A capitalist system where young people protesting the evils of capitalism while carrying iPhones and dressed in the heighth of hipster fashions and other benefits of said capitalism is exactly what this country is about.

The video below shows what some of the protesters in Oakland feel about the evils of capitalism and their utter disregard for property rights. I am not a fan of the ominous music piped through the background nor of the sketchy editing and I have no idea what Tea Party Television is (I am not a fan of the tea party movement, though I may agree with some of their beliefs).

But then, when it comes to their own property, some of the protesters do seem to have an appreciation for property rights. I guess it's OK so long as what is being taken is being taken from other people.

I have a new rule about not writing or posting after 11:00pm and I've instantly broken it. If there are any significant errors in grammar or reasoning, please either excuse me or let me know nicely.

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