Does the stock market reflect a strong economy, or are the records highs we’re seeing a result of government simply pumping more and more money into the system? What follows is a transcript of the above-video: Hey guys, Jordan here. Good morning. I just want to talk to you real quick about what’s happening in […]
Debunking the Lies about Trump’s Social Security Plan
The latest scare tactic of the left is to tell seniors that Trump’s Social Security plan will bankrupt the program in just a few short years. This is false. And I don’t mean it’s an economic fallacy, that different economists can analyze differently and disagree on. I mean it’s just a lie which results from people taking his words out of context, and then ignoring the important parts, because there’s an election and the left wants to scare seniors. It is true that if you were to eliminate payroll taxes that Social Security would go bankrupt within a few years, but ONLY IF YOU DIDN’T PAY FOR IT SOME OTHER WAY! Trump’s plan is not simply to eliminate Social Security taxes, but to replace funding for Social Security directly from the government’s general fund. And if anything, this would be much more progressive. The 12% payroll tax that presently funds Social Security is regressive, imposed as it is on all income up to $137,000, regardless of your tax bracket. By shifting the revenue source to the general funds, which are paid for disproportionately by higher earners, the tax burden of Social Security would be moved away from the poor and middle class, and onto the wealthy. But please everyone, don’t let facts get in the way of useful lies.
Roughly 40% of Americans Pay a Negative Income Tax
According to the most recent IRS data available, roughly 40% of American tax filers paid a negative income tax rate for tax year 2017.
A Corporate Wealth Tax Would Be A Disastrously Regressive Tax
A few weeks ago, a couple of professors from Rutgers University, published an editorial in New Jersey’s leading newspaper, the Star Ledger, in which they called for a corporate wealth tax; i.e., not a corporate income tax (which they undoubtedly would not repeal), but a tax on the actual increase in a company’s value. With […]
New Study Reveals That WNBA Players Earn Less Than NBA Players!
(This is called “satire.” Please do not contact us to complain it is “fake news.”) Princeton, NJ: The NBA says it’s committed to progressive values, but apparently equal pay for equal work isn’t one of them. Economists at the Institute for Advanced Study have today released their much anticipated, groundbreaking report on wage inequality in […]
Bernie and AOC Want to Turn Your Credit Cards into Their Welfare Program, and the Post Office into a Welfare Office!
The Loan Shark Prevention Act would socialize credit markets, and force the Post Office to cash bad checks. Here’s a good rule of thumb: If you find yourself agreeing with Bernie Sanders and Alexandria Ocasio-Cortez on any matter of economics, you should probably rethink your position, wonder where you went wrong, and withdraw from commenting […]
“Breadline” Bernie Sanders Wants a Rigged Economy
Welcome to ConservativeOpinion.com. Today’s question is “Is Bernie Sanders right that the economy is rigged.” I call him “Breadline Bernie,” by the way, not just because he’s a socialist, but because this is the same guy who actually praised bread lines, saying, and this is a quote: “Breadlines are a good thing. In other countries, […]
Alexandria Ocasio-Cortez was Right! Twice! In the Same Week! (Accidentally).
It is often observed, and never in a positive way, that even a broken clock is right twice a day. Alexandria Ocasio-Cortez — our twenty-something bartender-turned-congresswoman-turned-economist/climate scientist — managed to be right twice in the past week, which, while still falling short of the proverbial defective clock, is still quite an accomplishment for her.
Governor Murphy’s Private Sector Retirement Scam is a Giant Kickback to Wall Street
Murphy’s “Secure Choice Savings Program” is his attempt to raid private savings and amass a large stockpile of money from which his Wall Street buddies can pilfer hundreds of millions of dollars in exorbitant management fees every year. Ronald Reagan once said that “the nine most terrifying words in the English language are ‘I’m […]
Paul Krugman’s Five Dumbest Statements
An advertisement came across my Facebook feed recently for a Masterclass on “economics and society” taught by Nobel Prize-winning economist Paul Krugman. If you have $90.00 you’d like to waste you can do so on this, otherwise you’re better off saving your money. I’d sooner pay Larry King to teach me the secrets of a […]