"Occupy Wall Street" activists ARE the world's richest one percent

Yes, you read that correctly: Most of the Occupy Wall Street activists -- who scream indignantly about income inequality, and who want confiscatory taxes imposed on the "wealthiest one percent" -- are themselves among the world's wealthiest one percent:

In America, the top 1% earn more than $380,000 per year. We are, however, among the richest nations on Earth. How much do you need to earn to be among the top 1% of the world?

$34,000.

That was the finding World Bank economist Branko Milanovic presented in his 2010 book The Haves and the Have-Nots. Going down the distribution ladder may be just as surprising. To be in the top half of the globe, you need to earn just $1,225 a year. For the top 20%, it's $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000....

The global distribution figures may seem incomprehensibly low, but consider a couple of statistics you're likely familiar with: According to the U.N., "Nearly half the world's population, 2.8 billion people, earn less than $2 a day." According to the World Bank, 95% of those living in the developing world earn less than $10 a day.

Those numbers are so shocking that you might only think about them in the abstract. But when you consider them in the context of the entire globe, including yourself, the skewing effects they have on the distribution of income is simply massive. It means that Americans we consider poor are among some of the world's most well-off. As Milanovic notes, "the poorest [5%] of Americans are better off than more than two-thirds of the world population." Furthermore, "only about 3 percent of the Indian population have incomes higher than the bottom (the very poorest) U.S. percentile."

In short, most of those protesting in the Occupy Wall Street movement would be considered wealthy -- perhaps extraordinarily wealthy -- by much of the world. Many of those protesting the 1% are, ironically, the 1%.

Now, I wonder how many of the protestors would be eager to have their own incomes and property confiscated in order to "level" income disparities with the rest of the world? Think they'd like to live in the "equality" of, say, $3 per day incomes?

Steyn on "The Desperation-Deprivation Myth"

Mark Steyn, who tops my list of favorite political/cultural commentators, once again hits it out of the park with a column that blasts the lame excuse-making for the recent British riots. In part:

In fact, these feral youth live better than 90 percent of the population of the planet. They certainly live better than their fellow youths halfway around the world who go to work each day in factories across China and India to make the cool electronic toys young Westerners expect to enjoy as their birthright. In Britain, as in America and Europe, the young take it for granted that this agreeable division of responsibilities is as permanent a feature of life as the earth and sky: Rajiv and Suresh in Bangalore make the state-of-the-art gizmo, Kevin and Ron in Birmingham get to play with it. That’s just the way it is. And, because that’s the way it is, Kevin and Ron and the welfare state that attends their every need assume ’twill always be so.

To justify their looting, the looters appealed to the conventional desperation-of-deprivation narrative: They’d “do anything to get more money.” Anything, that is, except get up in the morning, put on a clean shirt, and go off to do a day’s work. That concept is all but unknown to the homes in which these guys were raised....

The problem for the Western world is that it has incentivized non-productivity on an industrial scale. For large numbers at the lower end of the spectrum (still quaintly referred to by British reporters as “working class”), the ritual of work — of lifetime employment as a normal feature of life — has been all but bred out by multigenerational dependency. At the upper end of the spectrum, too many of us seem to regard an advanced Western society as the geopolitical version of a lavishly endowed charitable foundation that funds somnolent programming on NPR.

As is always mandatory when it comes to a Mark Steyn piece, read it all.

UPDATE: Related: Eminent criminologist and scholar James Q. Wilson demolishes the notion that unemployment and bad economic times lead to an increase in crime:

But the notion that unemployment causes crime runs into some obvious difficulties. For one thing, the 1960s, a period of rising crime, had essentially the same unemployment rate as the late 1990s and early 2000s, a period when crime fell. Further, during the Great Depression, when unemployment hit 25 percent, the crime rate in many cities went down....

[And] when the recent recession struck...[and] as the national unemployment rate doubled from around 5 percent to nearly 10 percent, the property-crime rate, far from spiking, fell significantly. For 2009, the FBI reported an 8 percent drop in the nationwide robbery rate and a 17 percent reduction in the auto-theft rate from the previous year. Big-city reports show the same thing. Between 2008 and 2010, New York City experienced a 4 percent decline in the robbery rate and a 10 percent fall in the burglary rate. Boston, Chicago, and Los Angeles witnessed similar declines. The FBI’s latest numbers, for 2010, show that the national crime rate fell again....

Some scholars argue that the unemployment rate is too crude a measure of economic frustration to prove the connection between unemployment and crime, since it estimates only the percentage of the labor force that is looking for work and hasn’t found it. But other economic indicators tell much the same story.... So we have little reason to ascribe the recent crime decline to jobs, the labor market, or consumer sentiment.