Renowned economist endorses ‘Occupy Wall Street’ movement

Humor Unplugged’s guest columnist and noted economist Arminel Birchwell Sanders’ take on the Occupy Wall Street movement.

We are at crossroads in this country's history. Following one of the greatest rip-offs of American citizens by those in the higher echelons of power, both the Republican Party and the Democratic Party have demonstrated that they are morally compromised. We desperately need principled and uncompromised leadership in this country.

I am with the protesters: Sanders

These protests do highlight the most powerful, dangerous and secretive economic and political force in America. If this country is to break out of this horrendous and vicious cycle of recession and create the millions of jobs we desperately need, if we have to create a modicum of financial stability for the near and long term future, there is no question but that the American people are going to have to take a very hard look at Wall Street and demand fundamental reforms.  I hope these protests are the beginning of that process.

I have evolved a set of policy imperatives that US lawmakers will need to implement to address the issues raised by the movement:
• Ban lobbying at all levels
• Radical transparency
• Elimination of the revolving door between industry, lobby groups, and government
• Policy and governance to incorporate fairness, equity, and consistency
• Make bankers more liable to their follies – I am talking about more accountability here
• Dispose failed thinkers from leadership positions
• Elimination of the current tax code. super simplicity in taxation. No loopholes. Income tax paid directly from the source. If possible, elimination of the need for tax returns for most wage earner
• Diligent prosecution of white-collar criminals
• Involvement in policy and governance of people who predicted the crises and banning all who thought it was impossible to predict

I refuse to dilute the equity of the movement by stating more. But at the same time I hope the government chips in and takes this movement to its logical and much desirable conclusion.