7 DEMANDS

11/7/11

OWS, feel free to use this simple, concise list.

#1.  HOUSING.  A moratorium on all foreclosures.  A government mandate to all lenders that spells out a clear set of rules for each homeowner based on principal lost and income lost.  A % of principal must be forgiven, and interest rates should be written down to 1 or 2% for a period of at least 5 years to give the homeowner a chance to recover.  This would immediately stop the downward spiral of housing prices by eliminating much of the distressed inventory.  Bring housing back into the black and the middle class will feel invigorated and they will begin spending again.

#2.  BANKING.  Voluntary or forced break up of the "too big to fail"  banks.  Create real competition again.  Reintroduce a version of Glass-Steagall in order to get the bankers out of everything except mortgages, auto loans, and business loans.  Usury regulations  for all lenders.  Top interest rates that can be charged consumers based on the federal funds rate plus a small add on - that would apply to all consumer loans, including credit cards, revolving accounts, etc.  If borrowing becomes affordable once again for consumers, they will begin to spend more freely.  Student loans must have a minimum of 2 years before repayment begins.  Interest on student loans should be at the federal funds rate with no add on.

#3.  $ IN POLITICS.  (See Jack Abramoff's 60 minutes interview from 11/6/11).  Dirty money out of politics.  Real campaign finance reform.  Publicly funded races for all.  Reverse the Citizens United decision, or invalidate it.  Remove Clarence Thomas from office and prosecute him for the egregious conflict of interest and non reporting.

#4.  EMPLOYMENT.  Create a tax advantage to relocate manufacturing in the US.  Create a punitive tax for corporations that promote overseas operations over US operations.  ( See Walmart's "Buy American 2002 national media campaign - as they began the process of shipping 300 million in purchases to the Chinese from American manufacturers, forcing their competitors to follow suit ).  Well funded boycotts with national advertising may help the corporations see the light.

#5.  TAXES.  Take all of the special interest exemptions out of the tax code.  Overseas earnings of US corporations should no longer be exempt.  Tax idle corporate capital, forcing them to invest in the US.  All should pay unavoidable, reasonable rates.  Taxes on top earners must increase.  Simplified tax rates should float and relate to spending, creating a balanced budget.

#6.  HEALTH CARE.  Opt in to Medicare - at cost - for anyone who wishes to participate in government backed, single payer health insurance.  All others can stay in the for profit system as they wish.

#7.  JUSTICE.  Prosecution and punishment for the top 100 investment bankers that have brought the US economy to its knees.  There must be severe punishment to act as a deterrent for the white collar criminals of the future.

This would be a significant start to rectifying the wrongs perpetrated on the American people in recent decades.  OWS has the opportunity to begin this process in earnest.  If the bought and paid for Republicans and Democrats cannot and will not participate, then perhaps it's time to form a viable 3rd party to take on the real issues that affect us all.