Below is the list of the Occupy Wall Street movement demands. It appears that conservatives have latched onto the idea that these hippie/commies are just dumb kids and burnouts, which they mostly are, but they raise issues that we should have already brought before congress.
One and the same
As a conservative, I agree with all of these demands except four and seven.
Issue four is a terrible idea as it suggests taking the tax structure back to 1950-60 levels.. If we look back to when Reagan lowered the highest tier of the marginal tax code from 70%, he said, "It is time we let the bull loose", and just that happened. America thrived under the premise. It is unfortunate that Bush and now Obama have crippled our nation with a massive debt burden. That being said, a slight tax increase on the profoundly wealthy is something that needs to be implemented along with a pro job creation policy so that revenues increase as quickly as possible.
What is a pro job policy? Well, the first thing you do is to stop saying that the unemployed should be able to sue companies that do not higher people who have been unemployed for a long period of time. Nothing will cause a company to put a freeze on hiring more so than the thought of infinite and meaningless litigation.
Issue 7 just doesn't seem particularly thought out, but let me know your thoughts.
LIST OF PROPOSED "DEMANDS FOR CONGRESS
- CONGRESS PASS HR 1489 ("RETURN TO PRUDENT BANKING ACT"http://www.govtrack.us/congress/bill.xpd?bill=h112-1489 ). THIS REINSTATES MANY PROVISIONS OF THE GLASS-STEAGALL ACT. http://en.wikipedia.org/wiki/Glass–Steagall_Act --- Wiki entry summary: The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act in 1999 effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Most economists believe this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms. Here's detail on repeal in 1999 and how it happened:http://en.wikipedia.org/wiki/Glass–Steagall_Act#Repeal .
- USE CONGRESSIONAL AUTHORITY AND OVERSIGHT TO ENSURE APPROPRIATE FEDERAL AGENCIES FULLY INVESTIGATE AND PROSECUTE THE WALL STREET CRIMINALS who clearly broke the law and helped cause the 2008 financial crisis in the following notable cases: (insert list of the most clear cut criminal actions). There is a pretty broad consensus that there is a clear group of people who got away with millions / billions illegally and haven't been brought to justice. Boy would this be long overdue and cathartic for millions of Americans. It would also be a shot across the bow for the financial industry. If you watch the solidly researched and awared winning documentary film "Inside Job" that was narrated by Matt Damon (pretty brave Matt!) and do other research, it wouldn't take long to develop the list.
- CONGRESS ENACT LEGISLATION TO PROTECT OUR DEMOCRACY BY REVERSING THE EFFECTS OF THE CITIZENS UNITED SUPREME COURT DECISION which essentially said corporations can spend as much as they want on elections. The result is that corporations can pretty much buy elections. Corporations should be highly limited in ability to contribute to political campaigns no matter what the election and no matter what the form of media. This legislation should also RE-ESTABLISH THE PUBLIC AIRWAVES IN THE U.S. SO THAT POLITICAL CANDIDATES ARE GIVEN EQUAL TIME FOR FREE AT REASONABLE INTERVALS IN DAILY PROGRAMMING DURING CAMPAIGN SEASON. The same should extend to other media.
- CONGRESS PASS THE BUFFETT RULE ON FAIR TAXATION SO THE RICH AND CORPORATIONS PAY THEIR FAIR SHARE & CLOSE CORPORATE TAX LOOP HOLES AND ENACT A PROHIBITION ON HIDING FUNDS OFF SHORE. No more GE paying zero or negative taxes. Pass the Buffet Rule on fair taxation so the rich pay their fair share. (If we have a really had a good negotiating position and have the place surrounded, we could actually dial up taxes on millionaires, billionaires and corporations even higher...back to what they once were in the 50's and 60's.
- CONGRESS COMPLETELY REVAMP THE SECURITIES AND EXCHANGE COMMISSION and staff it at all levels with proven professionals who get the job done protecting the integrity of the marketplace so citizens and investors are both protected. This agency needs a large staff and needs to be well-funded. It's currently has a joke of a budget and is run by Wall St. insiders who often leave for high ticket cushy jobs with the corporations they were just regulating. Hmmm.
- CONGRESS PASS SPECIFIC AND EFFECTIVE LAWS LIMITING THE INFLUENCE OF LOBBYISTS AND ELIMINATING THE PRACTICE OF LOBBYISTS WRITING LEGISLATION THAT ENDS UP ON THE FLOOR OF CONGRESS.
- CONGRESS PASSING "Revolving Door Legislation" LEGISLATION ELIMINATING THE ABILITY OF FORMER GOVERNMENT REGULATORS GOING TO WORK FOR CORPORATIONS THAT THEY ONCE REGULATED. So, you don't get to work at the FDA for five years playing softball with Pfizer and then go to work for Pfizer making $195,000 a year. While they're at it, Congress should pass specific and effective laws to enforce strict judicial standards of conduct in matters concerning conflicts of interest. So long as judges are culled from the ranks of corporate attorneys the 1% will retain control.
- ELIMINATE "PERSONHOOD" LEGAL STATUS FOR CORPORATIONS. The film "The Corporation" has a great section on how corporations won "personhood status".http://www.youtube.com/watch?v=8SuUzmqBewg
Let us discuss...