I am a Ninety-Nine Percenter

The U.S. Congress has the lowest approval rating of the job they’ve done. I would suggest that we have several possible reasons – and ways – to address their performance: Term Limits, reduction (if not elimination) of life-long pensions, and reduction of tax-payer funded health care for politicians.

The catch is that Congress won’t propose, let alone enact, legislation that would so severely impact their own well being, so reasonable, clear and compelling changes need to be defined and presented to them via national media.

[pullquote]But the right kind of change…will only happen if and when good ideas are molded into clear and compelling suggestions, supported by appropriate and reasonable implementation steps, and by the right people.[/pullquote]

Next is the banking system. Our elected representatives need to define and implement banking system reforms that will prevent abuses by banks of its clients. This is also a tricky one, because we want both a reform to our political system – including less government and fewer, less onerous regulatory oversight of many aspects of our lives – while we need that same government to take control of a system that frequently acts as though controls aren’t meant to apply to them.

Loan criteria that differ from bank to bank and loan type to loan type are another area of abuse that needs to be fixed. It’s especially infuriating that many banks are still in business today only because we bailed them out of their financial mess, yet they are now making record profits and increasing restrictions on loans to businesses and individuals who helped fund the bailouts – the result of which is a stalled economy.

And, finally, we have the corporate culture to address. Hearing that Exxon, General Electric, Boeing, and other multi-billion dollar companies have been granted tax concessions by local, state and federal tax authorities for a multitude of reasons is perplexing, at best.

Are those reasons real, fair and legitimate? Are the companies still complying with the original terms of the concession? Did the taxing authorities really have the power/authority to grant the concessions in the first place? Were the taxing authorities fore-sighted in their deliberations and ultimate definition of the conditions for the concession – e.g., calling for a reduction (or elimination) in the concession under certain conditions, such as shipping jobs overseas?

But the right kind of change – and the fixes that come with it – will only happen if and when good ideas are molded into clear and compelling suggestions, supported by appropriate and reasonable implementation steps, and by the right people.

The movement has brought lots of people together and has garnered the attention of the media, so we have a foundation upon which to promote change that will benefit us all. Until we are able to breach the wall that is keeping us from economic success, I’ll continue to enjoy the comfort in Taco Tuesdays, and my friends and I will keep talking about ways to promote change.

ARB Team
Arbitrage Magazine
Business News with BITE.

Liked this post? Why not buy the ARB team a beer? Just click an ad or donate below (thank you!)

Liked this article? Hated it? Comment below and share your opinions with other ARB readers!