Thoughts on Occupy Wall Street
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
- Thomas Jefferson
I think that there needs to be a serious look into the financial system of the US. It's an industry that creates very little (products, manufacturing etc.) and profits a ton from this, while putting every other industry on a roller coaster ride. I'm all for making as much money as you possibly can, that's the American dream, but it should be done in a fair manner.
Also, those that put up the big money to start their own businesses have every right to want to keep most of their profits, but when thousands of corporations can avoid paying taxes something is screaming wrong. No knock against these companies, if they are smart enough to find those tax loops, they have to find them. Their goal as a publicly traded company is to profit. I think that we should eliminate ALL corporate tax loops and charge a flat rate for all corporations like 20%. If corporations want the same "rights" as people, they should pay for it as well.
Another note on that, is that yes! a resounding YES! these companies are a great asset to our country, and provide high paying jobs (engineering FTW!) but they should have to pay taxes too, considering they were able to become as successful due to our infrastructure (highways, electric, telecom, etc.) which is publicly funded and is in awful condition.
I think that the people of OWS need to organize and write clear goals. Because yes something is wrong, but right now it looks extremely disorganized. I don't think that it's people necessarily wanting free hand outs, but I personally see it as a need for reform in the financial system starting with our tax structure and regulation of the banks (for a failed DE-regulation of banks see Iceland De-Regulation of 2001).
10/18/2011 11:57:13 am
Mike, I generally agree with you on OWS. I'm waiting to hear from a friend as I think they might have published goals (primarily related to financial regulations). It's shameful that GE did not pay any taxes. Yes, they're getting their money's worth from their tax lawyers, but in my opinion it's fundamentally unethical.
Leave a Reply.
Restless traveler, music lover, displaced Buffalonian. Love geeking out over cutting edge engineering technologies in aerospace & clean tech. Autodesker & ESWer