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Posted: 8:16 a.m. Friday, Oct. 21, 2011

Are You Smarter Than An Occupier? 

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By Neal Boortz

Countries like North Korea and China are happy because they see an electorate that is so ill-informed that there is no possible way that America can stay on top with ignorance like this parading around.  They wanted a job but they put a man who had never created a job in his life into the White House.  What else could these Occupy children expect when they voted a community organizer into the White House?  He knows how to redistribute wealth, not create wealth.  The Wall Street Journal reports, “An overwhelming majority of demonstrators supported Barack Obama in 2008.  But according to the survey data, just 56% of protesters voted in 2008, and of those 74% voted for Obama.”  And these protestors don’t have a clue, and countries like China and North Korea know they don’t have a clue.  All they know is that there is a growing group of people in America who are protesting wealth and want to see the demise of the US capitalist system.

Here’s what I mean when I say they don’t have a clue.  Someone did at New York Magazine wrote an article: Are you smarter than a Wall Street Occupier?

  • 84% of Occupiers cannot tell you what the Dodd-Frank Act is.  Perhaps if they knew how the government is working to institutionalize the taxpayer bailout of too big to fail corporations, they would be protesting in Washington rather than Wall Street.
  • 30% of Occupiers believe that top marginal income tax rate for the top 1% is 0 to 10%.  And 32% believe that tax rate to be 10 to 25%.  The correct answer is 35%.  But that doesn’t include the Bush tax cuts that Democrats want to let expire.  That would push the rate to 39.6%.  And then there is this millionaires surtax.  That’s another 5.6%.  So we are pushing a 45% federal income tax rate for the top bracket … and a third of protestors believe this rate to be ten percent or less.
  • 94% of Occupiers believe that the government spends more on the military than it does on healthcare and pensions.  The correct answer is that 43% of government spending is on healthcare and pensions, while defense accounts for 20% of spending.  Without recognizing the huge and exponentially growing burden of healthcare entitlements in this country, is it any wonder why we can’t get anywhere on reform in this country?

 Here are a few more examples of how these Occupy Wall Street children don’t have a clue.  Now remember, many of them are at that magical age where they THINK that they know everything, when in fact they are barely able to make reasonable decisions with a full awareness of the consequences. 

 So someone took some facts about Goldman Sachs down to the Occupiers to see how they responded.  One of the facts included that Goldman Sach has set aside $10 billion for staff pay so far this year.  This works about to about $292,000 per employee. 

 Needless to say, Occupiers were not happy to hear this.  One Occupier, Stephen Crawn, responds, "Do they really need all that?"  Ah, so there we go.  Do they really need all of that?  From each according to his abilities, to each according to his needs.  Who decides how much an individual needs?  Apparently in the minds of these Occupiers, the government must decide.

 Here’s another quote from Gabriel Brownstein.  He says, "For 30 years, people have been cutting taxes, cutting regulations on Wall Street.”  Really?  What government school taught Gabriel these facts?  The fact is that corporations in America are now subjected to the highest corporation income tax rate of any country in the world.  The people who have been cutting taxes are everywhere BUT in the United States!  And where in the hell does he come up with his idea that we have been cutting regulations on Wall Street?  First of all, it’s astounding that anyone would assume that government would relinquish power by cutting anything.  If there’s one fact about government it is this: it grows.  And in fact, government regulations on Wall Street have grown tremendously through the years.  From the Cato Institute:

 In a Mercatus Center study, Veronique de Rugy and Melinda Warren found that outlays for banking and financial regulation increased from only $190 million in 1960 to $1.9 billion in 2000 and to more than $2.3 billion in 2008 (in constant 2000 dollars).  Focusing specifically on the Securities and Exchange Commission—the agency at the center of Wall Street regulation—budget outlays under President George W. Bush increased

in real terms by more than 76 percent, from $357 million to $629 million (2000 dollars) … In fact most of the SEC’s expand ed budget went into additional staff, from 2,841 full-time equivalent employees in 2000 to 3,568 in 2008, an increase of 26 percent.

 Another measure of regulation is the absolute number of rules issued by a department or agency. The primary financial regulator, the Department of the Treasury, which includes both the Office of the Comptroller of the Currency and the Office of Thrift Supervision, saw its annual average of new rules proposed increase from around 400 in the1990s to more than 500 in the 2000s. During the 1990s and 2000s, the SEC issued about 74 rules per year. 

 Setting aside whether bank and securities regulators were doing their jobs aggressively or not, one thing is clear—recent years have witnessed an increasing number of regulators on the beat and an increasing number of regulations.

 Well, I’d say that just about does it for that guy’s argument, don’t ya think?  So why don’t we close this thing out with some more cluelessness on the part of the Occupiers.  It’s one thing to Occupy and public park and demonstrate … it’s quite another to occupy someone’s private property and disrupt private business.  Take a look at this display at a restaurant in New York.

Neal Boortz

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Neal Boortz chronicles his 42 years of talk radio in his book "Maybe I Should Just Shut Up and Go Away" Available on line and printed from Barnes and Noble and Amazon.

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