by Walter Brasch
It’s time to retire the 99 percent.
Not the people, but the slogan that identifies the Occupy Movement.
“We’re the 99 percent” slogan focused upon two completely different groups of people. The 99 percent are the masses, the impoverished, the disenfranchised, the middle class; the 1 percent refers to the concentration of wealth in the top one percent of the population and in the dominance of large corporate and global financial systems.
The Movement, following the Arab Spring, began in the late summer of 2011 with the Occupy Wall Street protest. Central to the Movement, which quickly expanded into more than 500 American cities and 82 countries, was a call for social and economic justice.
During the 2007 Great Recession, the accumulated wealth of the 1 percent decreased significantly less than the wealth of the 99 percent, large numbers of whom first became unemployed and then homeless because of the tactics of greed led by the financial empires.
Within the 1 percent are CEOs and executives of the banking industry that willingly took government bailout funds, and then used some of that money to give six and seven figure bonuses.
The 1 percent includes Ina R. Drew, chief investment officer for JPMorgan Chase, which lost $2 billion in funds through misguided investment policies. Drew, one of Wall Street’s power players—and widely recognized as one of the more brilliant financial managers—earned about $14 million in salary. Jamie Dimon, in a stockholder meeting this past week, humbled by the huge loss, told stockholders, “This should never have happened. I can’t justify it. Unfortunately, these mistakes were self-inflicted.” But, Dimon, both the chief executive officer and the chairman of the board, kept his job and its $23 million salary.
The 1 percent also includes Mitt Romney, who earned about $21 million in 2010, and has a net worth of about $230 million, according to Forbes, but hasn’t filed his 2011 taxes. Somehow, he wants the people to believe he will bring the nation out of the depths of the Great Recession, but needs an extension to file his own taxes.
The 1 percent also includes right-wing celebrity mouth Rush Limbaugh, who is in the middle of an eight year $400 million contract that allows him to spew lies, hate, and venom at anyone who doesn’t agree with his ultra-conservative philosophy, which includes Occupiers and just about anyone with a social, environmental, and economic conscience.
The 1 percent includes Sarah Palin, once an obscure politician who now has a net worth of about $14 million, most of it the result of her participation in the mainstream media, which she claims she despises.
The 1 percent includes the Kardashian Sisters whose souls are wrapped in self-adulation, and who are worshipped by millions who have enhanced their importance by watching reality shows and reading vapid celebrity “tell-all” newspapers and magazines.
But the 1 percent also includes billionaire Warren Buffet, who is leading a movement to reduce tax loopholes and increase taxes on the rich, while improving the tax structure for the 99 percent.
The 1 percent includes Bill and Melissa Gates who are spending most of their fortune to improve the education and health of people throughout the world.
The 1 percent includes George Clooney, who has been at the forefront of the fight for justice in Darfur, whose citizens have been the victims of genocide by the Sudanese government.
The 1 percent includes Angelina Jolie who is Special Envoy for the United Nations High Commissioner for Refugees, and who has put her money and time into helping the world’s children.
The 1 percent includes Ed Asner, Bono, Mike Farrell, Bette Midler, Sean Penn, Rob Reiner, Tim Robbins, Susan Sarandon, Barbra Streisand, and thousands of other millionaire celebrities who have willingly put their reputations and money on the line to fight for the important social, economic, and political causes that should be the ones that define America as a land of freedom and opportunity, and which would be supported by most of the nation’s Founding Fathers.