Another Stupid Liberal Assumption Dies: Top 1% NOT Made Solely of Bankers
One of the favorite memes of these Occupy-Whatever events is that the “top 1%” is made up of those evil, rich bankers and Wall Street tycoons. This, they feel is why they need to “occupy Wall Street” in the first place, right? Wrong again.
Like most left-wing memes, this one is also horribly wrong. It turns out that it should have been Occupy a hospital instead of occupy Wall Street because it turns out that bankers and denizens of Wall Street barely represent a blip on the radar of the “1%.”
A report on CNN Money notes that the finance sector only makes up 14% of the folks that sit in that top 1% of the nation’s wealthy.
It turns out that medical professionals clock in at 15.7%, while lawyers represent 8.4%.
So, why aren’t these Occupy folks mad at doctors, hospital administrators and other healthcare professionals? They are a larger part of the top 1%, after all.
Still, let’s say we are mad at all the top 1% medical professionals or no. Let’s say we act as the Occupy-Whatevers want and we simply confiscate what these people earn. That would net the government a one-time benefit of a combined gross income of $1.3 trillion.
That is a drop in the bucket of the $4 trillion that Obama has put us in debt for.
So, as it turns out we shouldn’t be “occupying” wither Wall Street or medical professional’s offices. The problem lies elsewhere. Turns out we should be “occupying” the White House.
Even though my father, brother, uncles and grandfather were in the military, I seldom handled guns growing up. That’s because unlike many of the other people in my family, I’ve...Read More
Warner Todd Huston
Warner Todd Huston is a Chicago-based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart's BigGovernment.com, BigJournalsim.com and all Breitbart News' other sites, RightWingNews.com, CanadaFreePress.com, and many, many others. Additionally, he has been a frequent guest on talk-radio programs across the country to discuss his opinion editorials and current events as well as appearing on TV networks such as CNN, Fox News, Fox Business Network, and various Chicago-based news programs. He has also written for several history magazines and appears in the book "Americans on Politics, Policy and Pop Culture" which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston and follow him on Twitter, on Google Plus , and Facebook.
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