Where Does the Real Problem Reside? Two Charts Showing the 0.01% vs. the 1%

While I always supported the overall message and energy that encompassed the Occupy Wall Street movement, I never backed the slogan of the 1% vs. the 99%. From my own personal experience, it is entirely clear that the actual problem is a far smaller group within the 1%, the 0.1% or the 0.01% (although I recognize “We Are the 99.9%” isn’t catchy).

This is why you’ll never hear me demonize “the 1%”, rather I always try to use the term oligarch, which refers a small handful of people who benefit most disproportionately from Federal Reserve handouts, D.C. corruption, tax code loopholes and the destructive trend of financialization generally.

This is is also why I became so disgusted by Sam Zell’s ignorant and destructive comments on Bloomberg television earlier this year that decided to pen an open letter to him.

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