Reader n8chz says on the subject of whether the “99% vs 1%” slogan makes sense:
I take it as a political statement that the middle class have more interests in common with the lower class than with the upper class.
My question is, really? Is this a convenient myth we are telling ourselves, or is this actually true?
There is a grievous lack of a social safety net in this country. Let me remind you, however, where the money for this social safety net comes from in the countries of Western Europe and in Quebec that have it. It is financed by the very high taxes paid by the middle class.
In Sweden, the income tax rate is 57.7%. In Germany, it’s 42%. In Belgium, it’s 50%.
We like to pretend that if we prevent the hedge fund managers from paying smaller taxes than they should on their investments, that is going to make a massive difference to the economy. It’s all a convenient illusion, though. Every more or less socialist system in existence right now is based on taxing the middle class heavily.
This is precisely why the #Occupy movement is so invested into promoting the myth that we are all 99% and that we have the same interests and goals. You can nationalize every single private jet and every single private island in this country outright, however, and that is not going to finance a passable social safety net even for as short a time as the next 50 years.
It’s so much fun to protest and wave catchy slogans on Wall Street while feeling like you are bravely fighting for the cause of the dispossessed. It is a little harder, though, to agree to be taxed at the same rates that one’s Western European and Quebecois sisters and brothers do.
I have a question for my middle class readers. Are you willing to give away between 50% and 60% of what you make in taxes to pay for the universal free healthcare, very cheap or free higher education, very high unemployment benefits, free amazing daycare for the poor, etc.?