Posted at 12:31 PM on October 11, 2011
by Paul Tosto
Minnesota protesters were in the lobby of Wells Fargo Bank's main building in Minneapolis and the protests later held up traffic for a bit.
As we wait for more protests later today, we see that in other parts of the country there is a push back.
Deriding protesters as "milquetoast radicals," New York Times columnist David Brooks writes that protesters on Wall Street and other cities "will have nothing to say about the way Americans have overconsumed and overborrowed. These are problems that implicate a much broader swath of society than the top 1 percent."
They will have no realistic proposal to reduce the debt or sustain the welfare state. Even if you tax away 50 percent of the income of those making between $1 million and $10 million, you only reduce the national debt by 1 percent, according to the Tax Foundation.
If you confiscate all the income of those making more than $10 million, you reduce the debt by 2 percent. You would still be nibbling only meekly around the edges.
We haven't seen much push back locally. That may change if the protests continue and really start to disrupt business life in The Cities. On MPR's Facebook page, reader Jordan Lockman dismissed the protesters as "just a bunch of people that are unhappy with a collection of different things."
Similar anti-Occupy sentiment can be found in a new tumblr blog, we are the 53%.
You feeling more like David Brooks right now or are the protests a sign of positive economic changes to come? Post below or drop us a line directly.