But if Occupy Wall Street helps more people to understand that while our economy struggles and unemployment remaining high, large corporation and Wall Street profits have grown and grown and grown, I will celebrate them.
(the photo source is also an excellent reference for multiple charts on that make the wealth gap and income inequality more understandable)
Corporations Are Supposed To Be Regulated
The current Bank of America scandal, charging customers $5 a month to use a debit card, is great example of how corporations are not patriotic entities on a mission to help the American public.
Our government changed the regulation on debit cards to help out small business owners by capping debit card fees.
First point, Bank of America didn’t decide on it’s own to help out small businesses during our economic crisis. Second point, Bank of America doesn’t respond to government regulations by saying: GREAT NEWS. We’re helping out small businesses. The economy will benefit.
No, Bank of America doesn’t want to lose profit. Extraordinary profit made from homeowners and bad loans and the ability to set fees because they’re the biggest bank in the nation. Instead, they decide to make the consumer pay $5 to use their debit cards. And they blame the government.
So who is in on the side of small business? Who is on the side of consumers wanting to spend their own money? Of course, our bank system with ebills and direct deposit now put us in a position where it is a HUGE PAIN to switch banks. They are geniuses who aren’t helping small business or individuals until their bottom line is taken care of.
The companies aren’t called for-profit for nothing. This need for regulation is true with medical insurance and the coal mining industry and daycare facilities and all these places that we think should be safe and reasonable are not helpful by choice. Yes, one can only push a customer so far unless there aren’t any other companies selling milk or healthcare insurance or offering jobs, which also is regulated (some places better than others).
Those who believe that regulation is the problem and if we “just let business grow it would fix everything with innovation,” don’t understand the history of capitalism or what deregulation lead to (because they seem to have put on blinders during the past decade). Capitalism cannot be unfettered because it doesn’t work unfettered. Unless 14 hour work days on 50 cents an hour with no days off for anything including maternity or falling seriously ill, oh and child labor, are how people define “capitalism working.” Capitalism has always needs reigns to keep it from running people into the ground. It is a balancing act and one we, the people, need to understand better.
Here’s Some of What I Believe
- I believe in changing regulation and tax code loopholes so we all pay our fair share. (Why Aren’t The Wealthy Called Freeloaders?)
- I believe healthcare is a right not a privileged. (What the Heck Happened to Healthcare on Sunday Night And Why I Care)
- I believe that every child born into American should have a shot at reaching the middle class, of not dying of an asthma attack because they cannot afford the proper medication, and of learning to read. (Born Poor)
The American dream is about equal opportunity, not hiding our head in the sand about where opportunities come from. Corporations already have too much power and the only controls available is the government whose elections are often funded by the corporations. If people don’t stand up and let themselves be heard today and on election day, we are no longer a democracy.
I may not agree with everything that Occupy Wall Street stands for, but if the movement give people perspective on the realities of greed and corporations in the United States, then they have done enough.
Can’t see the video? Click here.