Andrew Madar and Nate Turner
Professor Frank
English 1030-044
September 22, 2014
The Discourse Community of the “1%”
Before we can understand the discourse community of the wealthy we first need to understand how they got to where they are. Wealthy people have put a lot of time in their field of expertise. Many people have inherited their wealth and can be considered old money. However, many of the wealthiest individuals the most recent generations know and recognize are entrepreneurs that created a booming business. One example of an entrepreneur is Jim Dolan, founder of the Dolan Company. The Dolan Company provides business information and professional services to financial and real estate sectors throughout the United States. When he was a child, well before starting up his company, Dolan found his calling in entrepreneurship through several other activities and jobs he performed. Dolan, as a kid, used to buy fireworks in the summer when they were very cheap and would hold onto them until Christmas time and then sell them to his friends at a 300% profit, (Jordan). Big names like Bill Gates, Mark Zuckerberg and Sam Walton made it big with the unique ability to create a business and understand how to market, invest and sell their products. These entrepreneurs have created products and businesses that have positively impacted and spread to many parts of the world. Some were born into a wealthy family and acquired their family’s business. Others climbed the ladder of a business and eventually made enough money to invest into other things that became successful, thus yielding major profit. In order to make money, money has to be spent; therefore the rich have become rich because they knew how to invest their money at the right time in the right places. This is often times what separates those who strike it big from the other “99 Percent.”
Many people in the United States are dissatisfied with the unequal distribution of wealth amongst the country. In turn, protestors all over the country have organized and claim to be in the group known as “The 99 percent.” They protest through large cities like New York City, Chicago, and Boston, speaking out against what they feel is an unequal system. Conversations are starting that focus on the growing gap between the wealthiest one percent and the other ninety-nine percent of Americans (Jilani). People do not think it is fair that the wealthiest one percent own over 40 percent of the nation’s total wealth. One of the protesters wrote a sign that says, “I am aged, old, and frail. I have paid taxes all my adult life. Now, I have to choose between medicine and food. It feels like a very slow death. I AM THE 99%” (Jilani). This is just one of millions that is now doing everything that they can to make ends meet. All the while, these people feel as though the wealthiest few could spare some money to help provide food, shelter and medicine for some of those struggling to get by. These people have always had to make the tough choices in life. What is the best investment of my money at this point? Can I afford to buy this or should I forgo it altogether? Most of the American people have never had the comfort of not having to worry about finances on a daily basis. This could be some of the cause of the unrest of the majority of Americans who feel some people are too wealthy.
The general public opinion of the “one percent” is that most of them are greedy and selfish. Bruce Drake of the Pew Research Organization helped organize surveys which found, “Views are mixed: Americans view the well-to-do as more intelligent and more hardworking but also more greedy.” Often times this can be a misconceived notion, as the wealthy do a lot of things that are good for the general public. Another statistic from Drake’s research shows that “Despite widespread perceptions of economic inequality, there was little indication that it had fueled class resentment. Nearly nine-in-ten (88%) said they admired ‘people who get rich by working hard.’” This proves that, in general, the public respect the hard work that the wealthy have put in to get to where they are, but many have displeasure with what they do with their money once it is acquired. Despite all the negativity surrounding the “one percenters,” it is well documented that most of them do donate huge sums of money to charities. Bill Gates has done some of the most well documented charity work which includes creating his own foundation. The Gates’ charity motto starts as “Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives.” Since the Gates Foundation’s inception, it has donated billions of dollars to various charities. This is a small number compared to all the donations and charity work that has been amassed by all the billionaires in the world. Almost every single billionaire has a foundation set up so that they can make a positive impact. The rich could very well donate only because they feel pressure from the masses to do so as a result of their wealthiness, but no one will ever go on record saying this. So, even though, many people feel as though the motivation for the rich to give donations is a tax break, those who donate feel differently. They donate because they are also humans, not a different being. They too feel compassion and a sense of pride in donating to those who are less fortunate than them. In an article published by step.org, statistics were found using a survey of high net-worth donors and their philanthropic advisors. They found that, “While advisors believed that the majority of HNW (High Net-Worth) individuals would reduce their giving if the estate tax was eliminated, just 6 percent of HNW individuals indicated they would reduce their charitable giving if this tax policy would change,” showing that the wealthy are not just motivated by tax breaks but also by being good natured humans. Charitable donations are just one of the many ways that wealth gets redistributed amongst the social classes.
The most wealthy people in the world, specifically in the United States, are often negatively associated with the profession that is politics. Politics is often portrayed as being controlled by the most wealthy. Much of the common public opinion can be justified by facts about the political “game” that is continuously ongoing. Robert O’Neill of the Harvard Kennedy School analyzes the paper of Harvard faculty researcher Filipe Campante on the increase in political influence of the wealthiest. He begins this paper with the statement, “As another heated political season begins, attention is focused on the Super PACs created to funnel unlimited contributions to political candidates, on billionaire political patrons, and on ‘big money’s’ influence on the political process. Especially as more wealth is concentrated into fewer hands,” (O'Neill). O’Neill is saying, plain and simple, that the wealthy have immense amounts of resources which they contribute to the political scene. The “ninety-nine percent” feel as though they are being cheated in the political system because they believe all the politicians are influenced by those with massive amounts of money. They don’t feel as though they are able to have a fair say in what goes on in Washington and other political locations.
The “ninety-nine percent” are those who describe themselves as being opposed to the concentration of wealth that is the “one-percent.” These self-proclaimed “ninety-niners” often express their displeasure with the economic system through “occupy” movements such as “Occupy Wall Street.” Brian Stelter of the New York Times references both the Republican, often associated with the one percent, and Democratic, often associated with the ninety niners, views on the identity of the “99%” in his article about the group. The general feel is that Republicans are opposed to the idea of a “ninety-nine percent” movement because it is divisive and “un-American.” On the other hand, the Democrats have used the idea as a political platform to get votes and kick start legislation. They often politically attack the wealthy, who also happen to associate more so with the Republicans than the Democrats, in an attempt to rally votes from the “middle class.” The whole idea of the “ninety-nine percent” is to bring attention to income inequality and have done so effectively using occupation movements and social media. The general feel of the public tends to be that the “one percenters” are the enemy of the common people. This leads to an ironic situation, which is that huge sums of money are spent blasting those with huge sums of money and those who are making such attacks often have lots of money themselves.
The wealthiest people in the world have it easy but they also have it really hard. Although they are sometimes hated and seen as greedy people because of what they actually do with their money, they are also seen as people of hard work and dedication. They have put in tons of work their whole lives to become what they are and once they are at the top they are constantly criticized by the rest of the population. Every single thing that they do is watched closely and if they slip up they end up on the news. A recent example could be Donald Sterling and his fallout with the public. Although the wealthiest one percent are seen as bad people, they actually do a lot of things that help out charities and organizations around the world. Bill Gates is a great example, giving out hundreds of millions of dollars a year to help those in need around the world, especially in the United States. The wealthiest people in the world live up to high standards each and every day and in the end they are also, on the most basic level, humans like everyone else and thus deserve the respect that each person deserves.
Works Cited
"Bill & Melinda Gates Foundation." Foundation Fact Sheet. Bill and Melinda Gates Foundation, n.d. Web. 18 Sept. 2014.
Drake, Bruce. "Americans See Growing Gap between Rich and Poor." Pew Research Center RSS. Pew Research Organization, 5 Dec. 2013. Web. 18 Sept. 2014.
Jilani, Zaid. "How Unequal We Are: The Top 5 Facts You Should Know About The Wealthiest One Percent Of Americans." ThinkProgress RSS. Think Progress, 3 Oct. 2011. Web. 18 Sept. 2014.
Jordan, Robert. How They Did It: Billion Dollar Insights from the Heart of America. Northbrook, IL: Redflash, 2010. Print.
O'Neill, Robert. "Inequality Increases Political Influence of Wealthiest." Harvard Kennedy School -. Harvard Kennedy School, Spring 2012. Web. 18 Sept. 2014.
Stelter, Brian. "Camps Are Cleared, but ‘99 Percent’ Still Occupies the Lexicon." The New York Times. The New York Times, 30 Nov. 2011. Web. 18 Sept. 2014.
"USA - Study Reveals Misconceptions about Why Wealthy Give for Charity." Step.org. Step.org, 29 Oct. 2013. Web. 18 Sept. 2014.
Professor Frank
English 1030-044
September 22, 2014
The Discourse Community of the “1%”
Before we can understand the discourse community of the wealthy we first need to understand how they got to where they are. Wealthy people have put a lot of time in their field of expertise. Many people have inherited their wealth and can be considered old money. However, many of the wealthiest individuals the most recent generations know and recognize are entrepreneurs that created a booming business. One example of an entrepreneur is Jim Dolan, founder of the Dolan Company. The Dolan Company provides business information and professional services to financial and real estate sectors throughout the United States. When he was a child, well before starting up his company, Dolan found his calling in entrepreneurship through several other activities and jobs he performed. Dolan, as a kid, used to buy fireworks in the summer when they were very cheap and would hold onto them until Christmas time and then sell them to his friends at a 300% profit, (Jordan). Big names like Bill Gates, Mark Zuckerberg and Sam Walton made it big with the unique ability to create a business and understand how to market, invest and sell their products. These entrepreneurs have created products and businesses that have positively impacted and spread to many parts of the world. Some were born into a wealthy family and acquired their family’s business. Others climbed the ladder of a business and eventually made enough money to invest into other things that became successful, thus yielding major profit. In order to make money, money has to be spent; therefore the rich have become rich because they knew how to invest their money at the right time in the right places. This is often times what separates those who strike it big from the other “99 Percent.”
Many people in the United States are dissatisfied with the unequal distribution of wealth amongst the country. In turn, protestors all over the country have organized and claim to be in the group known as “The 99 percent.” They protest through large cities like New York City, Chicago, and Boston, speaking out against what they feel is an unequal system. Conversations are starting that focus on the growing gap between the wealthiest one percent and the other ninety-nine percent of Americans (Jilani). People do not think it is fair that the wealthiest one percent own over 40 percent of the nation’s total wealth. One of the protesters wrote a sign that says, “I am aged, old, and frail. I have paid taxes all my adult life. Now, I have to choose between medicine and food. It feels like a very slow death. I AM THE 99%” (Jilani). This is just one of millions that is now doing everything that they can to make ends meet. All the while, these people feel as though the wealthiest few could spare some money to help provide food, shelter and medicine for some of those struggling to get by. These people have always had to make the tough choices in life. What is the best investment of my money at this point? Can I afford to buy this or should I forgo it altogether? Most of the American people have never had the comfort of not having to worry about finances on a daily basis. This could be some of the cause of the unrest of the majority of Americans who feel some people are too wealthy.
The general public opinion of the “one percent” is that most of them are greedy and selfish. Bruce Drake of the Pew Research Organization helped organize surveys which found, “Views are mixed: Americans view the well-to-do as more intelligent and more hardworking but also more greedy.” Often times this can be a misconceived notion, as the wealthy do a lot of things that are good for the general public. Another statistic from Drake’s research shows that “Despite widespread perceptions of economic inequality, there was little indication that it had fueled class resentment. Nearly nine-in-ten (88%) said they admired ‘people who get rich by working hard.’” This proves that, in general, the public respect the hard work that the wealthy have put in to get to where they are, but many have displeasure with what they do with their money once it is acquired. Despite all the negativity surrounding the “one percenters,” it is well documented that most of them do donate huge sums of money to charities. Bill Gates has done some of the most well documented charity work which includes creating his own foundation. The Gates’ charity motto starts as “Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives.” Since the Gates Foundation’s inception, it has donated billions of dollars to various charities. This is a small number compared to all the donations and charity work that has been amassed by all the billionaires in the world. Almost every single billionaire has a foundation set up so that they can make a positive impact. The rich could very well donate only because they feel pressure from the masses to do so as a result of their wealthiness, but no one will ever go on record saying this. So, even though, many people feel as though the motivation for the rich to give donations is a tax break, those who donate feel differently. They donate because they are also humans, not a different being. They too feel compassion and a sense of pride in donating to those who are less fortunate than them. In an article published by step.org, statistics were found using a survey of high net-worth donors and their philanthropic advisors. They found that, “While advisors believed that the majority of HNW (High Net-Worth) individuals would reduce their giving if the estate tax was eliminated, just 6 percent of HNW individuals indicated they would reduce their charitable giving if this tax policy would change,” showing that the wealthy are not just motivated by tax breaks but also by being good natured humans. Charitable donations are just one of the many ways that wealth gets redistributed amongst the social classes.
The most wealthy people in the world, specifically in the United States, are often negatively associated with the profession that is politics. Politics is often portrayed as being controlled by the most wealthy. Much of the common public opinion can be justified by facts about the political “game” that is continuously ongoing. Robert O’Neill of the Harvard Kennedy School analyzes the paper of Harvard faculty researcher Filipe Campante on the increase in political influence of the wealthiest. He begins this paper with the statement, “As another heated political season begins, attention is focused on the Super PACs created to funnel unlimited contributions to political candidates, on billionaire political patrons, and on ‘big money’s’ influence on the political process. Especially as more wealth is concentrated into fewer hands,” (O'Neill). O’Neill is saying, plain and simple, that the wealthy have immense amounts of resources which they contribute to the political scene. The “ninety-nine percent” feel as though they are being cheated in the political system because they believe all the politicians are influenced by those with massive amounts of money. They don’t feel as though they are able to have a fair say in what goes on in Washington and other political locations.
The “ninety-nine percent” are those who describe themselves as being opposed to the concentration of wealth that is the “one-percent.” These self-proclaimed “ninety-niners” often express their displeasure with the economic system through “occupy” movements such as “Occupy Wall Street.” Brian Stelter of the New York Times references both the Republican, often associated with the one percent, and Democratic, often associated with the ninety niners, views on the identity of the “99%” in his article about the group. The general feel is that Republicans are opposed to the idea of a “ninety-nine percent” movement because it is divisive and “un-American.” On the other hand, the Democrats have used the idea as a political platform to get votes and kick start legislation. They often politically attack the wealthy, who also happen to associate more so with the Republicans than the Democrats, in an attempt to rally votes from the “middle class.” The whole idea of the “ninety-nine percent” is to bring attention to income inequality and have done so effectively using occupation movements and social media. The general feel of the public tends to be that the “one percenters” are the enemy of the common people. This leads to an ironic situation, which is that huge sums of money are spent blasting those with huge sums of money and those who are making such attacks often have lots of money themselves.
The wealthiest people in the world have it easy but they also have it really hard. Although they are sometimes hated and seen as greedy people because of what they actually do with their money, they are also seen as people of hard work and dedication. They have put in tons of work their whole lives to become what they are and once they are at the top they are constantly criticized by the rest of the population. Every single thing that they do is watched closely and if they slip up they end up on the news. A recent example could be Donald Sterling and his fallout with the public. Although the wealthiest one percent are seen as bad people, they actually do a lot of things that help out charities and organizations around the world. Bill Gates is a great example, giving out hundreds of millions of dollars a year to help those in need around the world, especially in the United States. The wealthiest people in the world live up to high standards each and every day and in the end they are also, on the most basic level, humans like everyone else and thus deserve the respect that each person deserves.
Works Cited
"Bill & Melinda Gates Foundation." Foundation Fact Sheet. Bill and Melinda Gates Foundation, n.d. Web. 18 Sept. 2014.
Drake, Bruce. "Americans See Growing Gap between Rich and Poor." Pew Research Center RSS. Pew Research Organization, 5 Dec. 2013. Web. 18 Sept. 2014.
Jilani, Zaid. "How Unequal We Are: The Top 5 Facts You Should Know About The Wealthiest One Percent Of Americans." ThinkProgress RSS. Think Progress, 3 Oct. 2011. Web. 18 Sept. 2014.
Jordan, Robert. How They Did It: Billion Dollar Insights from the Heart of America. Northbrook, IL: Redflash, 2010. Print.
O'Neill, Robert. "Inequality Increases Political Influence of Wealthiest." Harvard Kennedy School -. Harvard Kennedy School, Spring 2012. Web. 18 Sept. 2014.
Stelter, Brian. "Camps Are Cleared, but ‘99 Percent’ Still Occupies the Lexicon." The New York Times. The New York Times, 30 Nov. 2011. Web. 18 Sept. 2014.
"USA - Study Reveals Misconceptions about Why Wealthy Give for Charity." Step.org. Step.org, 29 Oct. 2013. Web. 18 Sept. 2014.