Is David Brooks an idiot?
If you are a young professional in a major city, you experience inequality firsthand. But the inequality you experience most acutely is not inequality down, toward the poor; it’s inequality up, toward the rich.
You go to fund-raisers or school functions and there are always hedge fund managers and private equity people around.
Is Mr. Brooks an idiot? Does he realize that for 98% of the population, this is simply not true.
The inequality problem is not between the 90->99% and the 1%. To think that is to basically discount 90% of the population. The 90% plus of the population that simply doesn’t see the inequality first hand and his eyes, isn’t even worth bringing into the discussion.
emphasize that the historically proven way to reduce inequality is lifting people from the bottom with human capital reform, not pushing down the top. In short, counter angry progressivism with unifying uplift.
Piketty argues that r > g, that return from financial capital is greater than overall economic growth. Brooks totally ignores this point in his criticism of Piketty.
He argues for unifying uplift; a phrase that sounds like it comes from an American Apparel bra ad. What exactly is unifying uplift? If he is talking about increasing social spending, why not actually say that? Is he really just saying we can stop the formation of vast oligarchies if we come up with the right platitudes?
Krugman: Envy Versus Anger
But the polling data don’t say anything about envy: when people say that they have lost their belief that hard work will be rewarded, they aren’t saying that they are envious of the rich; they’re saying that they have lost their belief that hard work will be rewarded. To the extent that people have negative feelings about the one percent, the emotion involved isn’t envy — it’s anger, which isn’t at all the same thing. Envy is when you have negative feelings about rich because of what they have; anger is when you have negative feelings about the rich because of what they do.
The standard defense is to dismiss criticism of 1% by the 99% as envy and criticism of the 1% by the 1% as hypocrisy. How convenient that literally no one is able to criticize the 1% without that being proof that there is something wrong with them.
Occupy Wall Street leader wants to crowdfund a private militia
But actually Tunney’s claim that she founded Occupy is by far the least interesting part of the story. … Tunney — a Google employee — has been pushing a crazy crusade to fund a paid mercenary protester army…
What could possibly go wrong.
New York Post Helps NYPD Slander Occupy Wall Street (Again)
No political writings were discovered, and Kelly said the investigation was continuing into whether the couple had any larger plans or ties to any radical groups.
It’s worth noting that this isn’t the first time that the Post – and more specifically, Schram, one of its top cop reporters – has been a conduit for vaguely sourced and ultimately baseless police claims linking scary high-profile crimes to Occupy Wall Street.
The right is desperate to slander OWS, What else is new.
Only 3% of the very rich are entrepreneurs
According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneurs based on 2004 tax returns. A 2009 Kauffman Foundation study found that the great majority of entrepreneurs come from middle-class backgrounds, with less than 1 percent of all entrepreneurs coming from very rich or very poor backgrounds
As someone who spent a few years working on a portfolio management system used to manage risk for high net worth clients, this doesn’t surprise me.
Anthony Bologna, NYPD Cop Who Pepper-Sprayed Occupy Protesters, Will Get No Help From City In Lawsuit
Anthony Bologna– the NYPD Deputy Inspector caught on video pepper-spraying two women Occupy Wall Street protesters in Union Square last fall– could have to dig into his own pockets to pay for the damages in the women’s civil lawsuit against him. New York City has opted not to defend Bologna in court
I predict that some right wing activists will start a defense fund for him.