Some Wall Street employees are overpaid and some do engage in misconduct. And, when they are caught they are subject to criminal law. However, Wall Street executives, in most cases, worked hard to get where they are. They also pay between 35% of their salaries (And 15% on capital gains and then taxes on other sources of income, sales, property, etc.) to taxes. Whose to say that they don't deserve their money? Steve Jobs was extremely rich (around $2 billion). Apple's shares trade at above $400 per. Whose to say that he didn't deserve all that? Whose to say that the government should regulate his company excessively and tax him more to give it to the poor, the dissatisfied, and the protestors of OWS?
| Tax Bracket | Married Filing Jointly | Single |
|---|---|---|
| 10% Bracket | $0 – $17,400 | $0 – $8,700 |
| 15% Bracket | $17,400 – $70,700 | $8,700 – $35,350 |
| 25% Bracket | $70,700 – $142,700 | $35,350 – $85,650 |
| 28% Bracket | $142,700 – $217,450 | $85,650 – $178,650 |
| 33% Bracket | $217,450 – $388,350 | $178,650 – $388,350 |
| 35% Bracket Source: Forbes | Over $388,350 | Over $388,350 |
Besides, most millionnaires give more generously to socially constructive causes and charities (that, unlike most government entitlement programs, efficiently aid the needy) when taxes are lower.
Some media outlets have portrayed the protestors quite positively. I do not see the majority as very sympathetic characters. The truth is that misconduct and idleness are the main causes of poverty in America. Almost any healthy American who lives chastely, avoids addictions, and works hard will succeed. After reading the bios of the OWS protestors I decided to look up the bios of some Wall Street executives. It turns out that most executives were hard working all through their high school, college, and graduate school experiences. They had leadership positions in extracurricular activities and sports. They volunteered a lot. They didn't party much. They spent long hours at the library. They lived chastely. They avoided addictive substances and behaviors. They were respectful of authority while still being innovative and critical thinking. They marry and have committed relationships. In their careers, they work at least 11 hour days Monday through Friday and then a few hours on Saturdays too. They are committed to family life and contribute to charity and their communities. Yes, frequently (although perhaps less than you think) they have the benefit of being born to a successful and loving family, certainly an advantage, but that is no reason to think of them as undeserving. Oftentimes, success takes generations to establish and a CEO, rocket scientist, cardiovascular surgeon, or senator may be the pinnacle of generations of a family's efforts.
The protestors frequently do not live chaste lives. They frequently are involved in addictive substances and behaviors. They are too often rebellious for rebellious' sake. They did not work particularly hard in high school, college, or in their careers. They don't contribute to their communities or volunteer much.
The protestors may be from rough neighborhoods and dysfunctional families. But, that doesn't entitle them to demand the earnings of hard working business people. That doesn't entitle them to the right to sit around with an angry sign being frustrated. Get up! Do something about it! Sitting around won't change a thing. Be successful and then give back and advocate. All that the OWS demonstration does is blame others and demand gifts. Stop blaming and do something that actually makes a difference.
