JohnDinca on Taxing the 1%

I recently had the chance to talk to JohnDinca about various issues relating to Occupy Wall Street and the issues raised.  Those of you familiar with his work will know how knowledgable he is in various areas of politics and how this impacts everyday life in the US.  He has been speaking and writing about these ideas for years now.  Finally thanks to the work of OWS we are ready to listen.  I will post the video from that interview in excerpts.  The first one being the effect of taxing the 1% and how this will not impinge on job creation.

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We are the 99.98%: Or The 1% Error

Have you noticed how much catchier “We are the 99%” is than “We are the 99.98%”?

There has been an error in the understanding of the phrase “the 1%”.  Think of it as rounding up.  The level of wealth that causes or participates in the corrupt system of crony capitalism (as opposed to real capitalism which is good) is probably more around “the 0.2%”.  But that’s not much fun to chant in the streets.

Too many people seem to think that OWS is against some random person or small business owner who makes $380k per year.  People making money is not the problem.  I wish them well and hope they do even better next year – along with everyone else.  The problem is a system.  If you want to look at specific people look at politicians, lobbyists, and corporate heads taking away opportunities for others while benefiting themselves.

So much focus has been on how much money you have to make to be officially in the 1% that it has taken attention off of the actual problems of a corrupt system.  The phrase “the 1%” is meant to highlight the disparity between very few people with a lot of political power to influence the government compared to the rest of us.  You can make millions per year and still not be part of the problem.  Tom Hanks, Tiger Woods, and Oprah are not part of the problem.  Tiger has his own problems, but he’s not corrupting the government, and therefore not the problem.

My lovely revolutionaries, let’s make sure when we’re making our signs that it’s understood correctly.  And dear readers who make over $380k per year, understand that this isn’t about you.