Well... it's certainly an interesting movement, but without point or purpose, I don't see it going far. There have been comparisons to the tea party, but I doubt it will have a similar political impact.
From what I can surmise, the protesters are angry about increasing income equality - to that, I would say two things.
1. It's true:
(CBO)
Recently (as in yesterday or today) CBO estimates do indicate the richest 1% have seen their income increase exponentially more than any other income tier. Why? Hard to say. I have a theory that if you take out the richest 1% of that 1%, the increase would dramatically decline (i.e. the rapid increase is due to a select few high-earners).
2. Everyone is better off than in the past:
(From a study done by two profs from Notre Dame & U Chicago)
3. Would taxing the richest 1% on the first chart at a higher marginal rate have any effect on the second chart? I really doubt it. There's a disconnect between these two issues, but because of politics, they're intertwined.
Anyway, I think the Occupy Wallstreet movement should be attacking cronyism - an issue liberals and conservatives could possibly agree upon.
Re: Occupy Wallstreet
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