Get FREE NRO Newsletters

 

June 11 Issue  |  Subscribe  |  Renew

Close

New on NRO . . .

The Corner

The one and only.

Print   |  Text
 

What the Wall Street Protesters Want

The Wall Street protests, as I understand them, seem to touch on the following themes:

● Restoring public campaign financing of presidential elections — mysteriously lost in 2008 — to curb Wall Street money; asking our politicians not to beg for cash from the likes of a quid pro quo BP or Goldman Sachs.

● Rejecting the high life and living more modestly and ecologically, avoiding nests of idle privilege like Costa del Sol, Vail, or Martha’s Vineyard, or vapid excesses like tens of thousands of dollars in trinkets around one’s arm or a single blouse that costs more than the monthly salaries of most Americans.

● Lowering our profile abroad by stopping targeted assassinations, renditions, and preventive detention, and closing Guantanamo.

● Asking why middle-class taxpayers should subsidize tuition loans for the elite at tony private colleges, while the masses go to State U at a fraction of the cost.

● Anger at crony capitalism, no doubt of the sort epitomized by no-income-tax-paying Jeffery Immelt’s GE or the insider fixers at Solyndra; equal anger at the “unearned” billions of those who — rather than making money at manufacturing, farming, drilling, or construction — make their living at money manipulation and speculation of the cutthroat George Soros type or high finance and insurance, which alone lead to obscene fortunes of the Warren Buffett caliber.

● Wondering why politicians float in and out of Wall Street, always ending up at lucrative private landing pads — like Peter Orszag at Citicorp — or looting millions on the way out in the manner of Franklin Raines. Why do our elites, in the fashion of a Larry Summers, bounce about high academia, high government, and high Wall Street, profiting and power-brokering along the way?

But ultimately, the protesters ask us to ponder the very nature of compensation: Why does a municipal worker make $30,000 a year when Matt Damon and Johnny Depp manage to extort $20 million for a month’s work — money that we pay for in higher ticket and download prices? Why are their unionized camera and sound crews left to split up the crumbs? Did John Kerry really need a multimillion-dollar custom-made sailboat, docked out of state to avoid the people’s taxes? Did Al Gore need a yacht, a fourth home, a private jet trip? Did Michael Moore really have to sue for an extra million or two to add to his multimillion-dollar horde? Did John “Two Americas” Edwards really need a 4,000 sq. ft. “John’s Room” when millions do not have a 400 sq. ft. living space? These are the sorts of questions that are finally airing at these protests. 

New on The Corner. . .


COMMENTS   74

EXPAND  

   10/07/11 12:52

On that last paragraph, there is a simple answer to all of those questions: It's NONE of your business.

Hollywood stars and the unionized crews who help them make films are paid by a private business. Their compensation is none of our business. Don't like high ticket prices? Then don't go to movies. I don't.

Do leftist politicians "need" big houses and yachts? It's none of your business. Their money is their money, and it's nobody else's concern how they spend it.

Envy is an ugly thing. That's probably why God covered it in his Top 10 List.

Reply to this commentLinkReport Abuse
   10/07/11 12:56

Really? He makes an argument on their own terms and you do not get the irony enough to make a coherent argument? It is called using your own argument against you. It is a debating strategy and in this case shows the absurdity of their argument and either you are willingly ignoring that or not bright enought to understand the point.

Reply to this commentLinkReport Abuse
J. D.
   10/07/11 19:32
   10/07/11 13:39

It's not the wealth it's the hypocrisy of those on the left ... that is Mr. Hanson's subject here.

Reply to this commentLinkReport Abuse
LouistheFirst
   10/07/11 15:25

LesleyPezley's post is definitely a finalist for the 2011 Point-Missing Awards.

Reply to this commentLinkReport Abuse
   10/07/11 12:54

I see what you did there.

Reply to this commentLinkReport Abuse
   10/07/11 12:56

Yes, but sadly, many on the right are as intellectually dishonest as those on the left. The same answer - nunya business - needs to apply to both sides.

Reply to this commentLinkReport Abuse
   10/07/11 13:06

In and of itself, lefty prosperity is none of our business. But just as the left has every right to ridicule a social conservative who seeks mano a mano loving in a restroom, we have every right to heap scorn on leftards who espouse policies which are at odds with how they live their own lives.

Reply to this commentLinkReport Abuse
   10/07/11 13:32

But, but, but I thought the Right was the only hypocritical side?!?!

Reply to this commentLinkReport Abuse
mahoneyct
   10/07/11 12:55

No Victor. They want to live in Greece with a no-show government job. They are rent-seeking parasites-in-waiting, or if they are lucky, parasites.

Reply to this commentLinkReport Abuse
Bob Sacamento
   10/07/11 12:57

Well, now you're just being mean!

:)

Reply to this commentLinkReport Abuse
   10/07/11 13:00

Costa del Sol, Vail, or Martha’s Vineyard, VDH do you copy and paste much? I love your work, and own several of your books, but this three piece term is getting a bit shopworn. I mean you use it in every article, and frankly it's tired, have a good weekend
Robert

Reply to this commentLinkReport Abuse
   10/07/11 14:06

If the insult fits, Mr. and Mrs. Obama should wear it.

Reply to this commentLinkReport Abuse
Karen Arland
   10/07/11 13:11

How delightfully tongue in cheek! And the particular irony of those protestors demanding forgiveness of the loans they took out to attend those tony, private elitist college and universities, while the rest of us scrimped, saved, won scholarships, or worked our way through college!

Reply to this commentLinkReport Abuse
   10/07/11 13:17

Ya know, some people have more stuff than other people.

Reply to this commentLinkReport Abuse
Den
   10/07/11 17:02

Yeah, and it never used to be like that - never in the entire history of the civilized world.

Reply to this commentLinkReport Abuse
Truck
   10/07/11 13:20

"We're going to close the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary, and that's crazy. It's time we stopped it."

- Ronald Reagan

Reply to this commentLinkReport Abuse
   10/07/11 16:15

And yet a quarter century later, it's still possible for a millionaire to pay nothing, while a bus driver pays 10 percent.

As long as we tax income and not consumption, that will continue to be true.

The problem is that the average OWSer has no grasp whatsoever of tax policy, tax planning, or any of the fine alternatives to the present dysfunctional tax system.

Reply to this commentLinkReport Abuse
Larmeau
   10/08/11 16:20

I'll bet there aren't a lot of "10%" bus drivers protesting a darn thing, unless they're unionized...

Reply to this commentLinkReport Abuse
Load More Comments

Add a Comment

Already Registered? Log In Here.


The content of this field is kept private and will not be shown publicly.


* Designates a required field.
© National Review Online 2012
All Rights Reserved.
Subscriptions
NR / Print
NR / Digital

Gift Subscriptions
NR / Print
NR / Digital
NR Apps
iPhone/iPad
Android

NRO Apps
iPhone
Support Us
Donate
Media Kit
Contact