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Steve Forbes: Wall Street Occupiers Should Head to DC

By Dan Weil   |   Friday, 18 Nov 2011 09:02 AM

Steve Forbes, chairman of Forbes Media, says the Occupy Wall Street movement has it all wrong. Instead of targeting Wall Street, the protestors should focus their ire on Washington.

“What needs to be done to get this country moving again is to stop Washington’s binge spending, stop trashing the dollar, stop crushing healthcare with thousands of pages of regulations, not mention what they’re doing to try ruining the financial industry,” he tells Yahoo.

While the occupiers say they’re working against the wealthiest 1 percent of the population, it’s the occupiers themselves who represent 1 percent, Forbes says.
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“If they’re serious, they should be demonstrating against the Federal Reserve, Congress, and the White House that are the real source of our problems today.”

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(Getty Images photo)
The protestors are unwilling to go after the government because they are backed by unions and others who depend on the public sector, Forbes says.

“So they’re not going to go after their source of money. They’re going to try doing it at the private sector, which means higher taxes.”

The issue of taxes is one that’s creating divisions even among Republicans, as the congressional supercommittee on budget deficit reduction struggles to reach an agreement by its Nov. 23 deadline.

Some Republican congressmen are now willing to accept certain tax increases in exchange for entitlement reform. And economists of most stripes generally agree that a combination of entitlement reform and tax hikes is needed to control the deficit.



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Steve Forbes, chairman of Forbes Media, says the Occupy Wall Street movement has it all wrong. Instead of targeting Wall Street, the protestors should focus their ire on Washington. What needs to be done to get this country moving again is to stop Washington s binge...
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