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Who Are The 1%?
It seems a significant pillar of the Occupy Wall Street (and offshoot) movements seems to be based on the fact, er "fact" that the "top 1%" (of earners) are running the world for their benefit only, necessarily to the detriment of the "99%." Many of these 99%'ers seem to think the majority of the 1% are Financiers of one stripe or another, as that is where much of their anger is focused. I think the below chart from Mother Jones (along with source data) would surprise almost everyone, whether in the 99% or 1%:
Mother Jones has a variety of other charts compiled from University studies that I think, were they to be widely read by many protesters, would force them to re-evaluate some of their most closely-held beliefs. Unfortunately, thus far all of my efforts to educate and inform those supporting OWS have largely fallen on deaf ears; not just deaf ears, but ears covered by a $450 Dre Beats headphones, unwilling to be taken off.
*This is not to ignore the fact that those at the very top of the Finance game are making more money now than ever before, and have been increasingly so over the past ~25 years. That is a topic to be addressed, in depth, another time.
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I'm going to be real short and to the point, plenty of people have doubted the figures and what they mean, but I think that misses the point -- There is a reason the protesters are not listening to OP trying to explain that financiers are not the top 1% -- The term "the 99%" is not really meant to be taken literally, it just sounds far better than "the 99.86%" (or "the 99.55%" if they count rich executives -- which they probably do.) Simple as that.
I think some of these executives could be included in what the protesters protest against, some are quite good and probably are worth every penny... but, getting paid millions or 10s of millions of dollars pulls a lot of money out of a company that could otherwise go either to the employees or to spend on improvements within the company (i.e. replacing stuff that is getting worn out -- computers, chairs, assembly line equipment, whatever), instead of making someone's fat bank account even fatter. It's especially galling when execs that drive a company into the ground continue to get payraises.
I'll bet Bruce Halle, the last on the list, is really pissed to be low man on this totem pole.
Imagine one day realizing you have a couple billion dollars, and YET, there's all those guys above you with 10 to 20 Times more money than you have.
Sacre Bulski!
I suspect the "0.9 % Unknown" is a false statistic. There is money power behind the public faces we all know and loathe who never want to be identified and care not about any country. Not to say that the blankfeins' of the world care about anything but serving themselves and pleasing their unidentified masters.
"Let me issue and control a nation's money and I care not who writes the laws." Mayer Amschel Rothschild, 1790
Hey, people. The Banksters are already doing this: http://www.youtube.com/watch?v=hNcz_A2msRU
What will happen when they lockdown the banks like they did in Argentina in 2001 when the sheeple could only ATM some $50 USD per month or some shit like that?
Apr 24th 2008 pre-Lehman crash | from Economist
WHO rules the world?
http://www.economist.com/node/11081878?story_id=11081878
He is also admirably ambivalent about his subject. He worries about surging inequality—the richest 1% of humans own 40% of the planet's wealth—and about the rumbling backlash against so much unaccountable power
Here's another really good article. It breaks down the upper 1% much better than this guys graph.
http://sociology.ucsc.edu/whorulesamerica/power/investment_manager.html
"People who "bought too much house" want the government to reduce the principal they owe "because they were tricked by the bank". Idiots who are this easily tricked would not get money from a loan shark - because he knows they will never make good on the vig."
They would if the loan shark could take out multiple insurance policies on default that would pay out a lot more (and sooner) than non-default. In fact it would be in the interest of the loan-shark to seek out the highest risk defaulters - which is what happened.
Ahhh, if only loan sharks (bankers) were that clever! The bankers needed the mortgage loans so they could make more MBS trusts as quickly as they possibly could - when you are selling the same mortgage into multiple MBS your incentive is to get the mortgage signed because you never planned on holding the note. The greater the amount of the mortgage, the better.
I don't believe there has ever been a time when so much criminal behavior is so easy to prove ... yet no one has gone to jail !?! How can this be?
Between MERS and the trust laws of the State of New York, a huge RICO conspiracy has been committed and meticulously documented.
Think about what that means .....
RICO allows seizure of ALL personal assets that can be shown to be obtained through the moneys received from the criminal conspiracy.
OWS is getting media time because it is a convenient distraction from other crimes committed AND being planned. The crime being planned is to forgive all the MBS & foreclosure crimes - and it is being planned by the state Attorney Generals and the Obama administration.
If you want to change the world - plan sit-ins at your state Attorney General's offices until they start mass prosecutions for mortgage fraud, tax evasion. foreclosure fraud and MBS fraud.
Additional benefit - hours of perp walks on every channel for the tens of thousands of partiipants in the conspiracy.
Priceless? Sending them to the standard "Pound-me-in-the-ass" prison where they will all be ..... BITCHEZ !!!!
barliman
The rich always blame the poor when it's the rich who fuck everything up. Have you ever heard of a credit defalt swaps or derivitives you fucking idiot. Quit trying to blame it own poor homeowners who got suckered by the banksters. How do you explain the collapse of the commercial real estate sector and all those empty skyscrappers around the world including Dubai. Did they try to buy to much house. Go lick some corporate boot if you can reach that high. There is so much world wide debt it couldn't be paid if there were 10 earths with everyone working 24/7. Haven't you learned anything on ZH?
To your unanswered question - Yes, the commercial real estate collapse is the same mistake as buying too much house and easier to get than a Jumbo loan for home mortgage.
barliman
Banks know desparate idiots would sign anything for a house, so they exploite them. I'm not supporting people keeping the house, but banks are guilty as well for not doing their job. If Barney Frank and Clinton told them to give loans to uncreditworthy people, then they should have bitched and moaned like they did with bankster bonuses after bailout, but they went along. If they are NOT allocating credit efficiently with due diligence, WTF are they doing? rubber stamping? we have best and the brightest rubber stamping?
Operative word - idiots
Rubber stamping - corrupt and greedy
Banks? See post below.
barliman
Apparently the fact that home prices had been escalating at such a rate exceeding 99% of wage gains of the working class for the last 16 years due to lax monetary policy and outsourcing of good paying jobs (masks price inflation of 'goods') is something some people can't recognize. People were actually pressured by the home price increases to buy otherwise they would be priced out of the market. Its wasn't a gun to their head, it was question whether they would ever be able to have a home and get out of apartments.
Ahhh, they had to keep up with the other lemmings ...
I didn't know that lemmings made a baa'ing sound
barliman
LOL!!!...zero taxes.
http://campaign2012.washingtonexaminer.com/article/solyndra-funder-kaiser-paid-zero-taxes-years
The Devil with all these negative comments ( and votes ) regarding this article -- which, based upon MY observations of the satellite "protesters" in the Financial District ( Boston ), are completely accurate...although, the Harvard crowd would not deign wear a headset made by one "Dr. Dre" or anyone else, for that matter, as they must always hear themselves talk. Of course, you can always tell a Harvard man, but you cannot tell him much.
Today, these Utopians come for the "Top 1%" so-called; tomorrow, they could come for you. Where does it end ? Co-opted by and comprised of, in no particular order, SEIU Purpleshirts, the NEA, Soros, organized labor platoons of every stripe, and the very children -- the privileged seed -- of this vilified "1%"...rank hypocrisy; damn them.
Read:
http://www.bostonherald.com/news/columnists/view.bg?articleid=1372681
Now comes Mr. Mort Zuckerman, who is clearly among those the POTUS has targeted with his class warfare. Turns out, Mr. Zuckerman has become disillusioned with the POTUS.
http://www.google.com/search?hl=en&site=&q=zuckerman+exasperated&oq=zuck...
This POTUS, while very much a pansy, seems big on warfare of all sorts. Any blood spilled will be on his hands.
As usual with Stone Street Advisors (unfathomable why Zerohedge includes their voice here--ever!), they have taken an approach to the situation which is simplified enough to accomodate their limited intelligence; in this case, literally interpreting the conveniently chosen 99/1 differentiation: Imagine the protestors having to say: We are the 99.999999999%.
Please Zerohedge! Don't we all have to put up with enough inanity and insanity already? To continue to include the blather of well proven idiots seems gleefully sadistic.
>> all of my efforts to educate and inform those supporting OWS have largely fallen on deaf ears; not just deaf ears, but ears covered by a $450 Dre Beats headphones, unwilling to be taken off.
Spare me you're smug bull crap. Little wonder folks wouldn't take off their "Dre Beats" to listen.
I wonder why politicians are not in that list? What with their sweet loans from Countryside, completely legal insider trading, $90,000 in their freezers, etc, etc etc. Obama made a couple million last year from a book he didn't even write. Nice try Stone Street. A hole.
polititians do not pay taxes that's why they are not on the list
deleted -- duplicate post
Yet another article about the OWS movement written by somebody who clearly has no idea what the movement is about.
Thank God, at least this one was short.
"... has no idea what the movement is about", but who does have an agenda and has attempted to frame the discussion around a false premise supported by questionable stats. Nowhere in the linked academic papers that Mother Jones cites can the data that Stone Advisors regurgitates be found, or at least in looking at all three external MJ links I have not been able to find the exact data. (the context of the data is another story that undermines the credibility of Stone Street Advisors, who if we are lucky will join Leo in Blogger Purgatory)
To their credit Stone Advisors have been successful in this article as evidenced by the various comments that enumerate the richest in America, clearly those readers have been suckered into believing that #OWS is about haves vs. have nots. If that were the case then every American would, in a global context, be counted amongst the haves.
I don't think the OWS movement knows what the OWS movement is about. I did see alot of signs about getting alot of stuff for free, ie health care, college education, student loan debt forgiven, etc, etc. They don't care who has to pay for them of course, just as long as they get it for free without doing or contributing anything.
Isn't that just as greedy as the Banksta's? Isn't that stealing money from one person who earned it and giving it to another who doesn't deserve it? In my mind it is.
I'm part of the 53% percent who has worked hard their whole life and actaully pay taxes. I despise anyone who steals from me, Wall Street and the OWS hippies alike. This country would be better off without BOTH of them.
So you despise the OWS hippies equally with Wall Street in spite of the fact that student loans have accumulated to ~$800 billion over 15 years or so and $16 trillion was used to bail-out european banks alone in less than 2 years? Sounds like you don't know who is really going to destroy all that you have worked for when the black swan of this global financial engineering charade finally lands. I'm sure the bankers will pay you well to shoot the OWS hippies while bankers fly away in their gulfstreams.
Us hippies have college degrees and have worked as long as you have bitch! You think we don't pay taxes? What can you buy without paying tax on it? Not even food. Income tax is only one of many. We will no longer be slaves to this debt system via the Federal Reserve or just sit on our ass like you corporate dick suckers!!
Crappy article with most of the comments in the Green cat. IMO. Worldwide riots are not against the upper-middle class earners, banking conglomerates are rather being targeted and their heads.
EEAAARRRNNNEERRRSSSS!!!
When referring to the top 1% WE ALL think if WEALTH! Not earnings!!!!
Nice try Stone Street but who do you think you are talking to?
Exactly. If your net worth is in the "top 1%", you don't have to work, certainly not for a "wage", and haven't had to work... probably for generations.
And, as observed elswhere in the thread, "1%" is a convenience figure that rolls off the tongue a little easier than the five 9s that us working stiffs get distracted by so easily.
"A plague on both your houses!"
In theory, this site is intended to enlighten, educate and provoke thought. The bulk of you tonight are acting more like a mob with verbal pitchforks and dim witted preconceptions planning to run the monstrous 1% to ground.
But if only someone will tell you what you want to hear - that whatever is upsetting you is someone else's fault ...
http://www.youtube.com/watch?v=V7GnOyd_z1w
(ahhh, that never gets old)
The Gordon Gecko "Greed is good" mentality is not limited to the top 1% of income earners, wealth earners, trust executors, banking families or anyone else some idiot in OWS with a sign or some political swine with an agenda blames for "the way things are".
People who "bought too much house" want the government to reduce the principal they owe "because they were tricked by the bank". Idiots who are this easily tricked would not get money from a loan shark - because he knows they will never make good on the vig.
'The "elite" are leading us around a maze of their own devising' is worthless drivel - if you have billions, you spend more time worrying about other billionaires than you will ever spend worrying about managing the 99% - because for the last 5,000 years or so the majority of the 99% are happy if they have food, water, shelter and the opportunity to procreate. A significant percentage of the 99% spends a fair amount of time looking to make an easy buck. They gamble, they embezzle, they borrow money they know they can't pay back because "this guy they met has a sure thing that will double their money". They live the "greed is good" lifestyle because after 150 generations they still make the same bad choices their parents and grandparents made before them.
Take some comfort that the same is true for that 1% you want to displace. Their pattern is that someone of great capability or megalomania came along and made a fortune at some time. That person's children were a "normal distribution of capability and greed" - meaning some of them were reasonably bright, most were not and the "family fortune" on average declines for the majority of them. The remaining minority's children are sometimes difficult to distinguish from congenital idiots - the bulk are the same as the 99% except they have the ability to FUBAR things on a much larger scale. There are few "family fortunes" that survive under the direct control - if the fortune still exists it is locked up in trusts to keep the family from destroying it.
(Anyone wanting specific references automatically classifies themself as an internet idiot. Seriously? Researching things in the age of Google is too difficult for you?)
If the extent of your contribution on ZH is to declare how much of a victim you are because of (fill in the blank) then you one of two things
Another "Greed is good" sociopath found across all possible groups within the 100% that wants what they want because they want it!
or
(Fill in the blank) paranoid schizoprhrenic sent here by (fill in the blank) dark forces to lead us "all astray/sow disonformation/identify dissenters"
SSA - no, I hadn't forgotten you. Either put caveats at the start of your posts that warns people that actual facts may cause disorientation or post articles that are useful to those of us trying to educate the economic illiterates about the markets. Some of us are still trying - just the other day I had to correct a famly member who thought what I had been saying for two years was "ETF's are the devil's work!" and are causing all the problems. I can't count how many times I've told him that Cramer is a minor demon of Satan and anything he says should be treated as such.
Summary: Stop baa'ing and moo'ing. Turn off the computer, television and all other electrical devices. Take a half hour and try to figure out what you will do if the water, electricity, food sources and other necessary for survival items disappeared over night. It doesn't matter how or who dunnit - cause the great likelihood is that you are part of the top 5% of the world population and would suddenly discover how the bottom 5% spend their days.
barlimn
Here's the top 96 wealthiest people in the USA according to Forbes (4 out of the top 11 are Waltons. so stop shopping at Walmart if you want to be a revolutionary):
http://images.forbes.com/media/assets/rl/icons.png); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; color: #000000; text-decoration: none; cursor: pointer; background-position: 100% -197px; background-repeat: no-repeat no-repeat; margin: 0px; border: 0px initial initial;">Rank Name Net Worth Age Residence Source 1
Bill Gates $59 B 55 Medina, Washington Microsoft 2
Warren Buffett $39 B 81 Omaha, Nebraska Berkshire Hathaway 3
Larry Ellison $33 B 67 Woodside, California Oracle 4
Charles Koch $25 B 75 Wichita, Kansas diversified 4
David Koch $25 B 71 New York, New York diversified 6
Christy Walton $24.5 B 56 Jackson, Wyoming Wal-Mart 7
George Soros $22 B 81 Katonah, New York hedge funds 8
Sheldon Adelson $21.5 B 78 Las Vegas, Nevada casinos 9
Jim Walton $21.1 B 63 Bentonville, Arkansas Wal-Mart 10
Alice Walton $20.9 B 61 Fort Worth, Texas Wal-Mart 11
S. Robson Walton $20.5 B 67 Bentonville, Arkansas Wal-Mart 12
Michael Bloomberg $19.5 B 69 New York, New York Bloomberg LP 13
Jeff Bezos $19.1 B 47 Seattle, Washington Amazon.com 14
Mark Zuckerberg $17.5 B 27 Palo Alto, California Facebook 15
Sergey Brin $16.7 B 38 Los Altos, California Google 15
Larry Page $16.7 B 38 Palo Alto, California Google 17
John Paulson $15.5 B 55 New York, New York hedge funds 18
Michael Dell $15 B 46 Austin, Texas Dell 19
Steve Ballmer $13.9 B 55 Hunts Point, Washington Microsoft 20
Forrest Mars $13.8 B 80 Big Horn, Wyoming candy 20
Jacqueline Mars $13.8 B 71 The Plains, Virginia candy 20
John Mars $13.8 B 75 Jackson, Wyoming candy, pet food 23
Paul Allen $13.2 B 58 Mercer Island, Washington Microsoft, investments 24
Phil Knight $13.1 B 73 Hillsboro, Oregon Nike 25
Carl Icahn $13 B 75 New York, New York leveraged buyouts 26
Donald Bren $12 B 79 Newport Beach, California real estate 26
Anne Cox Chambers $12 B 91 Atlanta, Georgia media 26
Ronald Perelman $12 B 68 New York, New York leveraged buyouts 29
Abigail Johnson $11.7 B 49 Milton, Massachusetts Fidelity 30
James Simons $10.6 B 73 East Setauket, New York hedge funds 31
George Kaiser $10 B 69 Tulsa, Oklahoma oil & gas, banking 32
Len Blavatnik $9.5 B 54 London, N/A diversified 33
Harold Simmons $9.3 B 80 Dallas, Texas investments 34
Jack Taylor $9 B 89 St. Louis, Missouri Enterprise Rent-A-Car 35
Steve Cohen $8.3 B 55 Greenwich, Connecticut hedge funds 36
Harold Hamm $7.5 B 65 Oklahoma City, Oklahoma oil & natural gas 37
Rupert Murdoch $7.4 B 80 New York, New York News Corp 38
James Goodnight $7.1 B 68 Cary, North Carolina SAS Institute 39
Philip Anschutz $7 B 71 Denver, Colorado investments 39
Andrew Beal $7 B 58 Dallas, Texas banks, real estate 39
Steve Jobs $7 B 56 Palo Alto, California Apple, Pixar 39
Patrick Soon-Shiong $7 B 59 Los Angeles, California generic drugs 43
Samuel Newhouse $6.6 B 83 New York, New York Conde Nast 44
Ray Dalio $6.5 B 62 Greenwich, Connecticut hedge funds 44
Edward Johnson $6.5 B 81 Boston, Massachusetts Fidelity 46
Charles Ergen $6.4 B 58 Denver, Colorado EchoStar 46
Richard Kinder $6.4 B 66 Houston, Texas pipelines 48
Eli Broad $6.3 B 78 Los Angeles, California investments 48
Leonard Lauder $6.3 B 78 New York, New York Estee Lauder 50
Pierre Omidyar $6.2 B 44 Honolulu, Hawaii Ebay 50
Eric Schmidt $6.2 B 56 Atherton, California Google 52
Ralph Lauren $6.1 B 71 New York, New York Ralph Lauren 53
Jim Kennedy $6 B 63 Atlanta, Georgia media 53
Blair Parry-Okeden $6 B 60 Scone, N/A media 55
Donald Newhouse $5.9 B 81 Somerset County, New Jersey Conde Nast 55
Ira Rennert $5.9 B 77 Sagaponack, New York investments 57
Charles Butt $5.7 B 73 San Antonio, Texas supermarkets 58
David Geffen $5.5 B 68 Malibu, California movies, music 59
Jeffrey Hildebrand $5.3 B 52 Houston, Texas Oil 60
Richard DeVos $5 B 85 Holland, Michigan Amway 60
Richard LeFrak $5 B 66 New York, New York real estate 60
Frederik G.H. Meijer $5 B 91 Grand Rapids, Michigan supermarkets 60
Thomas Peterffy $5 B 67 Greenwich, Connecticut discount brokerage 60
David Tepper $5 B 54 Livingston, New Jersey hedge funds 60
Dennis Washington $5 B 77 Missoula, Montana construction, mining 66
Robert Rowling $4.7 B 57 Dallas, Texas investments 66
Stephen Schwarzman $4.7 B 64 New York, New York investments 66
Sam Zell $4.7 B 69 Chicago, Illinois real estate, private equity 69
Rupert Johnson $4.5 B 70 Burlingame, California Franklin Resources 69
John Malone $4.5 B 70 Elizabeth, Colorado cable television 69
John Menard $4.5 B 71 Eau Claire, Wisconsin Retail 72
Charles Johnson $4.4 B 78 Hillsborough, California financial services 73
Ray Lee Hunt $4.3 B 68 Dallas, Texas oil, real estate 73
Bruce Kovner $4.3 B 66 New York, New York hedge funds 75
Micky Arison $4.2 B 62 Bal Harbour, Florida Carnival Cruises 75
Leonard Stern $4.2 B 73 New York, New York real estate 75
Daniel Ziff $4.2 B 39 New York, New York investments 75
Dirk Ziff $4.2 B 47 North Palm Beach, Florida investments 75
Robert Ziff $4.2 B 45 New York, New York investments 80
Sumner Redstone $4.1 B 88 Beverly Hills, California Viacom 81
John Paul DeJoria $4 B 67 Austin, Texas hair products, tequila 81
David Green $4 B 69 Oklahoma City, Oklahoma Hobby Lobby 81
William Koch $4 B 71 Palm Beach, Florida oil, investments 81
Roger Wang $4 B 62 Nanjing, Jiangsu retail 85
Leslie Wexner $3.8 B 74 New Albany, Ohio retail 86
Henry Kravis $3.7 B 67 New York, New York leveraged buyouts 86
Gordon Moore $3.7 B 82 Woodside, California Intel 88
Robert Bass $3.6 B 63 Fort Worth, Texas oil, investments 88
Jin Sook & Do Won Chang $3.6 B 56 Beverly Hills, California retail 88
Trevor Rees-Jones $3.6 B 60 Dallas, Texas Oil & Gas 91
John Arnold $3.5 B 37 Houston, Texas hedge funds 91
Dustin Moskovitz $3.5 B 27 San Francisco, California Facebook 91
Henry Ross Perot $3.5 B 81 Dallas, Texas computer services, real estate 91
John Sall $3.5 B 63 Cary, North Carolina SAS Institute 91
Charles Schwab $3.5 B 74 Atherton, California discount brokerage 96
Dannine Avara $3.4 B 47 Houston, Texas pipelines 96
Gayle Cook $3.4 B 77 Bloomington, Indiana medical devices 96
Scott Duncan $3.4 B 28 Houston, Texas Pipelines 96
Milane Frantz $3.4 B 42 Houston, Texas Pipelines 96
Bruce Halle $3.4 B 81 Paradise Valley, Arizona
Discount Tire
BROWSE THE LISTThese are the "public" executioners of the Wizards behind the screen. The 6,000 or so. The real Wizards like the Rothchilds and Rockefellers are not even listed.
Hum.
BTW, how many of the billionaires listed above are Jewish?
here is analysis of top 0.1% income distribution excluding capital gains.
http://yglesias.thinkprogress.org/wp-content/uploads/2010/09/theelite.jpg
notables:
1979 2005
37% 18% non-finance execs/managers salaried (public main st) --
7.8% 21.4% non-finance execs/managers closedly held (inherited private family business) ++
11% 18% wall st. ++
7.9% 7.9% lawyers
7.9% 5.9% medical --
So this includes interest income and dividends? Capital gains?
SSA, this is a loosing battle with the rabid. You pointed out income, they question 'wealth'. If you point out wealth, they'll question hidden assets, Joos, or God knows what. Most of these folks never leave their rooms or have held any significant job, created a company, made payroll, sweated at nights as all of their life savings were tied in an an entreprenurial endeavor, etc.
They are the slackers of the world that look in the mirror, hate what they see and need to blame others for their inadequacies. You won't convince them with logic or data
how about inheritance and mommy and daddy connections which goes against meritocratic ideals of capitalism.
Give the son a gold medal because his grandfather earned it is the stupidist shit allowed under "free market capitalism meritocracy" of America. Making $1B when you already start with $100M does not merit enslavement of the lower 99% who start with pretty much nothing.
The Top 1% is not about annual earned income. The TOP 1% is about the FAT CATS of the WORLD, not just the U.S. domestic.
The POINT IS THIS. When to Top 1% control almost everything, it is time to level the playing field by ENDING their ability to BUY POWER.
http://www.getmoneyout.com/
This country was designed around, We the People, Not We the RICH, or We the Corps.
Let them buy control of every public service leadership position and you get what we have. This must & will end when the people all come together.
Their game is simple. Divide and conquer. They have done this extremely well. When we take the money out of public service elections, that all changes.
Good points, this article is misdirection and disinformation and is not worthy of Zerohedge.
I've just given Stone Street Advisors a life term with no chance of parole.
it is not just about money in terms of income or net worth, but also connections and power.
Bernanke makes a professor's wage, but $1M/year hedge fund trader would shine Bernanke's shoes for inside info.
also supreme court fucksters who said corporations are people.
foreign billionares with CFR membership too have much influence in US / world policies like outsourcing jobs.
Sorry if this has already been pointed out, but this data does not include capital gains, it is taxable income post-deductions, and it dates from 2005. Besides, the way the data is broken down is not really very informative. The overwhelming majority of 1%-ers are corporation major shareholders, corporation CEOs and finance professionals.
we shouldn't be concerned with 1% who most earn it for living and probably not every year. But be concerned with top 400 families who own America and the government through networks. The men and women behind the curtain of politicians and executives. they are essentially above the law yet so disconnected from the reality that they think 99% movement is just bunch of hippies causing a rockus.
Personally, the only way to impact the whole situation and bring down the mess is to reset all debt. Wipe it all out everywhere in the world. Put in a lending moratorium for 10 years.
Obviously, for the umteenth time in the last century, a debt based society has failed the people. That must change, and a debt reset would be the most pwerful change agent for the most amount of people.
Actually, that would only provide a temporary reprieve. The problem is that money begets money, and the reverse is also true. The rich are getting richer and the poor are getting poorer. A vacuum has formed in the middle, and "The American Dream" of being able to cross the divide is being destroyed.
Reset the debt, without resetting the wealth or the rules of the game, and the current situation would repeat within a dozen or two years. The progressive taxation system is intended to keep the situation in balance, but government spending, bailouts, and the way all new money is fed into the economy via the banking system has intensely favored the rich.
The OWS movement specifically does not blame anyone in particular, and that is intentional. Naming any specific group takes focus away from the problem as a whole. The 1% are the people rorting the current system, irrespective of whether they are bankers, rich people, or maybe (but maybe not) the people with high salaries. People who are productive may get high salaries, and that is fine. The problem is the 1% who make money due to the system, via wealth reallocation, rather than by producing anything.
SSA...=
Suck Shit Advisors.
what about the ones who don't pay taxes?
the taxes are for the little people. l.h.
even illegals pay taxes retard...think outside Faux News.
Plus richest 400 families own more than what they pay in tax. Plus even "public" services and places have Fees now which are also a form of tax. You want to go to a public park, pay a fee. You want to go to a "public" university so you don't have to do backbreaking manual labor, pay $20000/year education tax.
1. Accounts Receivable Tax
2. Accounting and Tax Preparation (cost to taxpayers $300 billion)
3. Accumulated Earnings Tax
4. Accumulation Distribution of Trusts
5. Activity Fee (Dumping Permit Fee)
6 . Air Tax (PA coin-operated vacuums)
7. Aircraft Jet Fuel Tax
8. Aircraft Excise Tax
9 . Alcohol Fuels Tax
10. Alcoholic Beverage Tax
11. Alternative Minimum Tax – Amt
12. Ambulance Services (Air Ambulance Services, SD)
13. Ammunition Tax
14. Amusement Tax (MA, VA, MD)
15. Animal Slaughter Tax (WI, others, Per Animal)
16. Annual Custodial Fees (Ira Accounts)
17. Ballast Water Management Fee (Marine Invasive Species)
18. Biodiesel Fuel Tax
19. Blueberry Tax (Maine)
20. Bribe Taxes (Pay If You Dare)
21. Brothel licensing fees
22. Building Permit Tax
23. Capital Gains Tax
24. California Interstate User Diesel Fuel Tax
25. California Redemption Value (Can and Bottle Tax)
26. CDL License Tax
27. Charter Boat Captain License
28. Childhood Lead Poisoning Prevention Fee
29. Cigarette Tax
30. Cigarette Tax Stamp (Acts) (Distributors)
31. Compressed Natural Gas Tax
32. Commercial Activity Tax (OH – for Service Providers)
33. Corporate Income Tax
34. Court Fines (Indirect Taxes)
35. County Property Tax
36. Disposable Diapers Tax (Wisconsin)
37. Disposal Fee (Any Landfill Dumping)
38. Dog License Tax
39. Duck Hunting Tax Stamp (PA, others)
40. Electronic Waste Recycling Fee (E-Waste)
41. Emergency Telephone User Surcharge
42. Environmental Fee (CA – HazMat Fees)
43. Estate Tax (Death Tax, to be reinstated)
44. Excise Taxes
45. Facility Fee (CA – HazMat Fees)
46. FDIC tax (insurance premium on bank deposits)
47. Federal Income Tax
48. Federal Unemployment Tax (FUTA)
49. Fiduciary Income Tax (Estates and Trusts)
50. Fishing License Tax
51. Flush Tax (MD Tax For Producing Wastewater)
52. Food License Tax
53. Fountain Soda Drink Tax (Chicago – 9%)
54. Franchise Tax
55. Fresh Fruit (CA, if Purchased From A Vending Machine)
56. Fuel Gross Receipts Tax (Retail/Distributor)
57. Fuel Permit Tax
58. Fur Clothing Tax (MN)
59. Garbage Tax
60. Gasoline Tax (475 Cents Per Gallon)
61. Generation-Skipping Transfer Tax
62. Generator Fee (Recycled Waste Fee)
63. Gift Tax
64. Gross Receipts Tax
65. Habitat Stamp (Hunting/Fishing in some states)
66. Hamburger Tax
67. Hazardous Substances Fees: Generator, Facility, Disposal
68. Highway Access Fee
69. Household Employment Taxes
70. Hunting License Tax
71. Illegal Drug Possession (No Carolina)
72. Individual Income Tax
73. Inheritance Tax
74. Insect Control Hazardous Materials License
75. Insurance Premium Tax
76. Intangible Tax (Leases Of Govt. Owned Real Property)
77. Integrated Waste Management Fee
78. Interstate User Diesel Fuel Tax
79. Inventory Tax
80. IRA Rollover Tax (a transfer of IRA money)
81. IRA Early Withdrawal Tax
82. IRS Interest Charges
83. IRS Penalties (Tax On Top Of Tax)
84. Jock Tax (income earned by athletes in some states)
85. Kerosene, Distillate, & Stove Oil Taxes
86. Kiddie Tax (Child’s Earned Interest Form 8615)
87. Land Gains and Real Estate Withholding
88. Lead Poisoning Prevention Fee (Occupational)
89. Lease Severance Tax
90. Library Tax
91. Liquid Natural Gas Tax
92. Liquid Petroleum Gas Tax
93. Liquor Tax
94. Litigation Tax (TN Imposes Varies With the Offense)
95. LLC/PLLC Corporate Registration Tax
96. Local Income Tax
97. Lodging Taxes
98. Lump-Sum Distributions
99. Luxury Taxes
100. Make-Up Tax (Ohio, applying in a salon is taxable)
101. Marriage License Tax
102. Meal Tax
103. Medicare Tax
104. Mello-Roos Taxes (Special Taxes and Assessments)
105. Migratory Waterfowl Stamp (addition to hunting license)
106. Minnow Dealers License (Retail – For One Shop)
107. Minnow Dealers License (Distributor – For One+ Shops)
108. Mobile Home Ad Valorem Taxes
109. Motor Fuel Tax (For Suppliers)
110. Motor Vehicle Tax
111. Music and Dramatic Performing Rights Tax
112. Nudity Tax (Utah)
113. Nursery Registration (Buying and selling plants)
114. Occupancy Inspection Fees
115. Occupation Taxes and Fees (Various Professional Fees)
116. Oil and Gas Assessment Tax
117. Oil Spill Response, Prevention, and Administration Fee
118. Parking Space Taxes
119. Pass-Through Withholding
120. Pay-Phone Calls Tax (Indiana)
121. Percolation Test Fee
122. Personal Property Tax
123. Personal Holding Company (undistributed earnings)
124. Pest Control License
125. Petroleum Business Tax
126. Playing Card Tax (Al)
127. Pole Tax (TX – A $5 Cover Charge On Strip Clubs)
128. Profit from Illegal Drug Dealing
129. Property Tax
130. Property Transfer Tax (DE, ownership transfer between parties)
131. Prostitution Tax (NV – Prostitute Work Permits)
132. Poultry Registered Premises License (Sales License)
133. Rain Water Tax (Runoff after a Storm)
134. Rat Control Fee (CA)
135. Real Estate Tax
136. Recreational Vehicle Tax
137. Refrigerator and Freezer Recycling Fees
138. Regional Transit Taxing Authority (Trains)
139. Road Usage Tax
140. Room Tax (Hotel Rooms)
141. Sales Tax (State)
142. Sales Tax (City)
143. Sales And Use Tax (Sellers Permit)
144. School Tax
145. Service Charge Tax
146. Self Employment Tax
147. Septic And Drain Field Inspection Fees
148. Sex Sales Tax (UT, when nude people perform services)
149. Sewer & Water Tax
150. Social Security Tax
151. Sparkler and Novelties Tax (WV Sellers of Sparklers, etc)
152. Special Assessment Tax (Not Ad Valorem)
153. State Documentary Stamp Tax on Notes (FL RE Tax)
154. State Franchise Tax
155. State Income Tax
156. State Park Fees
157. State Unemployment Tax (SUTA)
158. Straight Vegetable Oil (SVO) Fuel Tax
159. Stud Fees (Kentucky’s Thoroughbred Sex Tax)
160. Tangible Personal Property Tax
161. Tattoo Tax (AR Tax On Tattoos)
162. Telephone 911 Service Tax (some states)
163. Telephone Federal Excise Tax
164. Telephone Federal Universal Service Fee Tax
165. Telephone Federal Surcharge Taxes
166. Telephone State Surcharge Taxes
167. Telephone Local Surcharge Taxes
168. Telephone Minimum Usage Surcharge Tax
169. Telephone Recurring Charges Tax
170. Telephone Universal Access Tax
171. Telephone Non-Recurring Charges Tax
172. Telephone State Usage Charge Tax
173. Telephone Local Usage Charge Tax
174. Tire Recycling Fee
175. Tobacco Tax (Cigar, Pipe, Consumer Tax)
176. Tobacco Tax (Cigar, Pipe, Dealer Tax)
177. Toll Road Taxes
178. Toll Bridge Taxes
179. Toll Tunnel Taxes
180. Tourism or Concession License Fee
181. Traffic Fines (Indirect Taxation)
182. Transportable Treatment Unit Fee (Small Facility)
183. Trailer Registration Tax
184. Trout Stamp (Addendum To Fish License)
185. Use Taxes (On Out-Of-State Purchases)
186. Utility Taxes
187. Unemployment Tax
188. Underground Storage Tank Maintenance Fee
189. Underpayment of Estimated Tax (Form 2210)
190. Unreported Tip Income (Social Security and Medicare Tax)
191. Vehicle License
192. Vehicle Recovery Tax (CO, to find stolen cars)
193. Vehicle Registration Tax
194. Vehicle Sales Tax
195. Wagering Tax (Tax on Gambling Winnings)
196. Waste Vegetable Oil (WVO) Fuel Tax
197. Water Rights Fee
198. Watercraft Registration Tax
199. Waterfowl Stamp Tax
200. Well Permit Tax
201. Wiring Inspection Fees
202. Workers Compensation Tax
don't forget permit fees, certification fees
and charges, fines and penalties. also duties,
surcharges and subscriptions.
all these impact members of society, people,
differently depending on their position and relative
wealth.
royalty is tax and fee exempt. your bankers are your
royalty. whatever they pay in taxes is returned to them
in the form of interest. it is the royal system in
america where the entire country is a resource pool for
the global supranational finance kings and queens.
they don't pay tax. they have the governments run up
debt, debt based money my friend and fellow retard,
and have it deposited in their accounts.
taxes are for the little people. l. helmsley
.
"..Leona Mindy Roberts Helmsley (July 4, 1920 – August 20, 2007) was a billionaire and New York City businesswoman and real estate investor. She was a flamboyant personality and had a reputation for tyrannical behavior that earned her the nickname Queen of Mean. She was promoted by the Beber Silverstein Group and its co-founder Joyce Beber who persuaded her to call herself Queen of the Palace Hotel.[2]
Following allegations by unpaid contractors that work done on her home had been charged to her company, she was investigated and convicted of federal income tax evasion and other crimes in 1989. Although having initially received a sentence of 16 years, Helmsley was required to serve only 19 months in prison and two months under house arrest. Helmsley's fate was sealed when a former housekeeper testified during the trial that she had heard Helmsley say: "We don't pay taxes. Only the little people pay taxes...", a saying that became notorious and was identified with her for the rest of her life.
"
.
who am i to argue with a billionaire queen? plus, she is dead so
the argument would be one sided. to think that she was or remains the
only one that doesn't pay taxes is probably naive.
Never let it be said that a statist cannot think of inventive ways to seperate the worker from his earnings.
Great list ;-)
The problem with this 'see, dont blame the bankers' argument, is that the other proffessions in the 1% (doctors, teachers, executives in producing enterprizes, ect), are actually useful and productive, and arent corrupting regulatory agencies, stealing from taxpayers, and leveraging the economy into a financial cataclysm from which it cant recover. It wasnt because of spiteful hippie prejucice that Jamie Dimon got his home protested, and Bill Gates didnt. So the 'fuck the bankers' argument still stands.