99 percent is the new slogan of the Wall Street occupies movement which appeared in a anonymous tumbler blog in August 2011. It became a national slogan owing to internet marketing and widespread media coverage regarding the Wall Street protest.
99 percent refers to the normal middle class people, who have been experiencing a tough time to make both ends meet, since the 2007 recession. On the opposite end of the 99 percent are the elite 1% people, who have been leading a wealthy life, splurging on expensive stuffs, while the common people are made to pay for their faults. This 1% elite group comprises of different celebrities, business tycoon and CEO’s of various companies. The Wall Street Journal has provided a rough estimate, according to which a person needs to earn $506,000 in order to enter the group of 1% elite group.
Even though the term 99% has gained recognition recently, it has been used by author Joseph Stiglitz, presidential candidate Al Gore and filmmaker Jamie Johnson in some other format to illustrate the financial divide, which exists between the average and elite people. Students of Harvard University also joined the protest to show their solidarity towards the movement.
The movement, however, has received its fair share of criticism from experts and media personalities. It has been a subject of spoof in Jon Stewart’s, The Daily Show and in the “Saturday Night Live Show”. President Obama, however, believes that the rich and affluent section of the country should be made to pay a mandatory tax in order to finance projects required for general welfare.
Meanwhile, the slogan “We Are The 99%’ has managed to find its way into the directory of most liked and used quotations of the year. Fred Shapiro, who currently works as the associate librarian at Yale Law School has given this quote the first position in his list of most notable quotations of the year.