What happens when a financial expert tries to take on “the 99%” at Occupy Wall Street? Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital Inc., found out when he paid a visit to the occupiers at Zuccotti Park.
The long-time financial industry executive and radio host asked the protesters what they felt was a fair percentage for him to be taxed. None seemed to provide a clear answer, but were intent on telling Schiff that the Bush tax cuts need to be abolished. Schiff then attempted to explain to the demonstrators that, if the Bush tax cuts were allowed to expire, he would end up paying more than 50 percent to the government in taxes. Is “that fair?” he asked. The protesters simply stayed on course, reiterating that Schiff and all those in the “1%“ need to ”pay their fair share.”
Schiff provides a good example of what happens when “the 99%” are confronted with legitimate questions about taxes, entrepreneurship, employment, and giving back to society.