Occupy Wall Street

I admit to being very skeptical of the Occupy Wall Street demonstration as it started, but as it has grown and added union support, I think it's starting to tap into a wide understanding that Wall Street cheats.

Anybody who saw how Dick Fuld, the CEO of Lehman Brothers could walk away with more than 1/2 billion dollars for bankrupting his company and losing tens of billions of dollars of other people's money entrusted to his care knows that The Wall Street Economy is about one thing: insiders always win. The first step to breaking the Wall Street Economy is the American Jobs Act, a bill that is sitting in Congress right now while Congress is trying its best to ignore it.

The American Jobs Act:

  • Adds tax breaks for working people
  • Closes big corporate tax loopholes and the Hedge fund loophole
  • Hires people to fix roads and bridges and subways and abandoned buildings
  • Creates an investment bank that is accountable to the public and given the job of investing in building infrastructure.
  • Removes some bureaucratic barriers that keep small business from competing against big business.

There are many complicated, hard to fix, big things that are wrong with our economy, but the American Jobs Act starts us on the way to a nation where it's just not acceptable that Hedge Fund managers get special tax breaks while ordinary working people have to endure subway stops with sewage dripping through the roof or where pensions are slashed and transit fares are raised so that oil companies get subsidized by the government. The nation does not need to subsidize corporate jets and sacrifice college aid to do so.

The Jobs Act is written, stapled, and in front of Congress. Excuses won't find people jobs or help fix our bridges and train lines. The Jobs Act will. The Jobs Act is a first step - we need to either make Congress take that step or step aside as we get a new Congress.

Occupy Wall Street is a messy, confused movement. Many of the people who are rushing to support it are not people I support or admire but that's ok. One thing that it needs is more connection to voter registration. But we can help with that.

Like what you read? Chip in, keep us going.

The Easy Yes

Weekend Pragprog Link Share