“Statistically speaking, the middle class is the major power in the income equation; they work hard and contribute vastly to the economy. They are not the bottom 99%, they are not even the bottom 50% and yet, they are the one that shoulder a lot in the economy. Combining this big group of people together either with the “evil 1%” group or with the “poor souls that can’t even feed themselves” group is truly horrendous. As you can see, the middle-income people are not the birds and are not the mice either. They are in a class of their own and should not be group into a smaller group, be it the Top 1% or the Bottom 99%, and claiming to be representing them.”
“This dynamicity of the top 1% and the bottom 99% is not taken into account whenever the OWS talks about inequality. They forgot that most of the rich were the poor, who had made it in life and were rewarded for their hard work and ingenuity. They also forgot that most people receive higher salaries as they progress in life.”
“Has anyone question whether comparing data over time, in percentage terms will tend to mislead miserably? We had discussed this in Book 2 of the series and we cautioned everyone not to simply compare two economic periods, many decades apart (when we talked about inflation). It is a similar situation here. Using percentage top and bottom over a long period of time will be erroneous for the same reasons mentioned in Book 2 of the 259 Trillion Vs. 5 Trillion series. However, for this comparison we will focus on the fluidity and movements between “the poor and the rich” (the Top 1% and the Bottom 99%) and other type of income brackets — which we have shown to occur in the previous topic.”
“Accusing a particular group in the economy of paying less taxes is one thing, but accusing that particular group of paying less taxes, while your own group is the one that actually paying less, is simply not acceptable! Stop accusing others, if you are not paying your own fair share. Everyone must chip in and only those who really deserve help are helped. Paying tax is a patriotic thing to do and is a source of pride for citizens. It is pathetic and not honorable to keep whining and not contributing, especially when they are given the chance to improve. Those of you who pay taxes, should be proud and make sure the government makes full and good use of your money.”
“Every time you are buying goods and services, you are casting a vote in the economy. You may not realize it, but our collective votes will direct the economy into producing the things that are being demanded by the participants.”
“Just remember, rich people are human too, and so are the poor. There can be rotten apples in each, but there are far many more good and incredibly honest people within each group. If the rich are wasteful, then indeed they will be penalized eventually, and their fortunes, lost. If the poor work hard and add value, they will strike it rich too.
There are no limits to what one can achieve.”
“How about the famous claim that the average CEO pay is 350 times average workers’ pay? If we compare the pay of each CEO to its own workers, this is rarely true. In fact, in our four case studies of American corporations, that statement is false.
As you can see on the next illustration, the actual CEO’s pay is nowhere near the imaginary OWS proportion.”
“Well, how many more people from the bottom of the bottom, left their bracket and moved to the top? There are so many (millions in fact), and their removal from the bottom list, had ensured no improvement could be seen at the bottom, because their immense fortunes were carried to the top, further tilting the distortion between the brackets. That is why the 1% vs. 99% is a useless statistic to pursue, created by ill-informed people who misled others unknowingly.”