If folks will be honest, Some of the folks on Occupy Wall Street agree with the Tea Party on Bailouts, Corporate Welfare, and the federal Reserve. The disagreement comes when they state their solutions. The bongo drums give me a headache as well. A bit of Fusion Jazz and I am with them.
by John Stossel
What’s there to say about Occupy Wall Street? The answer isn’t so simple. Some complain about taxpayer bailouts of businesses. Good for them. In a true free market, failing firms would go out of business. They couldn’t turn to Washington for help.
But many protesters say they’re against capitalism. Now things get confusing. What do they mean? If by “capitalism” they mean crony capitalism (let’s call it crapitalism), a system in which favored business interests are supported by government, I’m against that, too.
But if they mean the free market, then they are fools. When allowed to work, the market has lifted more people out of the mud and misery of poverty than any government, ever.
The protesters are also upset about income disparity. Here again we should make distinctions. To the extent the country’s income disparity is the result of crony capitalism, it’s bad.
Yet even if America had a true free market, there would be income disparity. It’s a byproduct of freedom. Some people are just more ambitious, more energetic and more driven, and some have that ineffable knack of sensing what consumers want. Think Steve Jobs.
Read more Wall Street Protesters Half Right