99 VS. 1
Not about wealth; about influence
Twice last week the Star Tribune printed commentaries about income inequality, both trying to help us understand that it's justified, that rich people pay a lot of taxes, that redistribution of wealth is a dicey proposition if not a flat-out bad idea and that Occupy Wall Street types were a danger to America.
Both authors missed the point. The objections of the 99 percent to the 1 percent are not about wealth, they're about influence.
When the 1 percent got in financial trouble, the government borrowed $700 billion to prop them up. When some of the 99 percent lost their homes, they were told they shouldn't have borrowed so much.
When the 1 percent admitted they didn't know what they owned but were pretty sure it was toxic, there was TARP. When some of the 99 percent saw their retirement savings evaporate, they were told to work longer.
The bailouts were bipartisan efforts, so clearly both parties believed the beneficiaries were too big to fail. What I hear the protesters saying is not that the rich have too much money but that they have too much influence.
The message of the 99 percent is that we should not be held hostage again. Let's all agree that too big to fail means too big to be.
ROLF BOLSTAD, MINNEAPOLIS
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