Archive for the ‘Elizabeth Warren’ Category

THE TRUTH ABOUT INCOME INEQUALITY

Sunday, November 17th, 2019
Thanks to Ed Roney for sharing this article.  At the bottom of the article are some of the main points in the article that Ed very thoughtfully provided .  Nancy

THE WALL STREET JOURNAL

The Truth About Income Inequality

The census fails to account for taxes and most welfare payments, painting a distorted picture.

 
November 4, 2019   by Phil Gramm and John F. Early      Mr. Gramm is a former chairman of the Senate Banking Committee. Mr. Early served twice as assistant commissioner at the Bureau of Labor Statistics.
 

Never in American history has the debate over income inequality so dominated the public square, with Democratic presidential candidates and congressional leaders calling for massive tax increases and federal expenditures to redistribute the nation’s income. Unfortunately, official measures of income inequality, the numbers being debated, are profoundly distorted by what the Census Bureau chooses to count as household income.

The published census data for 2017 portray the top quintile of households as having almost 17 times as much income as the bottom quintile. But this picture is false. The measure fails to account for the one-third of all household income paid in federal, state and local taxes. Since households in the top income quintile pay almost two-thirds of all taxes, ignoring the earned income lost to taxes substantially overstates inequality.

How Redistribution Works

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ELIZABETH WARREN’S FANTASY PLAN

Tuesday, November 5th, 2019

 

THE WALL STREET JOURNAL

Warren Has a (Fantasy) Plan

Her financing and savings ideas for Medicare for All bear no relation to reality.

By the Editorial Board    November 4, 2019
EXCERPT FROM THIS ARTICLE:  There’s a reason every government-run health system in the world rations care. Ms. Warren won’t admit this explicitly about her brave new health world, but she comes close. If U.S. health-care spending exceeds GDP growth, she says, “I will use available policy tools, which include global budgets, population-based budgets, and automatic rate reductions, to bring it back into line.”

In a word, rationing. And that’s no surprise, since she credits the advice for developing much of her plan to Donald Berwick. He was an advocate for ObamaCare’s Independent Payment Advisory Board—known uncharitably as the death panel—that Congress repealed last year in a bipartisan vote.

Now we know why Elizabeth Warren took so long to release the financing details of her Medicare-for-All plan. The 20 pages of explanation she released Friday reveal that she is counting on ideas for cost-savings and new revenue that are a fiscal and health-care fantasy.
You certainly can’t criticize the new Iowa Democratic caucus front-runner for lack of ambition. Despite criticism from fellow Democrats, she is sticking to her plan for a government takeover of American health care, including the elimination of private insurance that 170 million or so Americans now have. She continues to claim that this will cost “not one penny in middle-class tax increases.” She walks on water too.

Start with the overall fiscal math, which by itself is staggering. She concedes that her plan will cost only “slightly” less than the $52 trillion that the U.S. is expected to spend on health care in the next 10 years. She deducts from that what the feds now spend on Medicare and Medicaid, plus $6 trillion that the states contribute to Medicaid, the state-federal children’s health program and government worker benefits.

That leaves $30 trillion to finance, but Senator Warren waves her wand and says the bill will really be $20.5 trillion. She makes the rest vanish by positing magical savings from things like “comprehensive payment reform.” One of her ideas is the hardy perennial known as “bundled payments,” which have failed to reduce costs as promised by Obama Care.

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VIDEO HUCKABEE – I GUESS I’M NOT AS SMART AS I THOUGHT

Wednesday, September 18th, 2019

ENJOY !

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WARREN’S ASSAULT ON RETIREE WEALTH

Thursday, September 12th, 2019

 

THE WALL STREET JOURNAL

Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy.

By Phil Gramm and Mike Solon Mr. Gramm, a former chairman of the Senate Banking Committee, is a visiting scholar at the American Enterprise Institute. Mr. Solon is a partner of US Policy Metrics.   September 11, 2019

Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of the value of domestically owned stocks, and the same share of America’s total wealth. Households of ages 65 to 74 have an average of $1,066,000 in net worth, while those between ages 35 and 44 have less than a third as much on average, at $288,700.

A socialist might see injustice in that inequality. But seniors know this wealth gap is the difference between the start and the finish of a career of work and thrift, making the last mortgage and retirement payments rather than the first. Seventy-two percent of the value of all domestically held stocks is owned by pension plans, 401(k)s and individual retirement accounts, or held by life insurance companies to fund annuities and death benefits. This wealth accumulated over a lifetime and benefits all Americans.

That means it’s your life savings on the line—not the bankroll of some modern-day John D. Rockefeller—when Democrats push to limit companies’ methods of enriching their shareholders. Several Democratic congressmen and presidential candidates have proposed to limit stock buybacks, which are estimated to have increased stock values by almost a fifth since 2011, as well as to block dividend payments, impose a new federal property tax, and tax the inside buildup of investments. Yet among all the Democratic taxers and takers, no one would hit retirees harder than Sen. Elizabeth Warren.

Her “Accountable Capitalism Act” would wipe out the single greatest legal protection retirees currently enjoy—the requirement that corporate executives and fund managers act as fiduciaries on investors’ behalf. To prevent union bosses, money managers or politicians from raiding pension funds, the 1974 Employee Retirement Income Security Act requires that a fiduciary shall manage a plan “solely in the interest of the participants and beneficiaries . . . for the exclusive purpose of providing benefits to participants and their beneficiaries.” The Securities and Exchange Commission imposes similar requirements on investment advisers, and state laws impose fiduciary responsibility on state-chartered corporations.

Sen. Warren would blow up these fiduciary-duty protections by rewriting the charter for every corporation with gross receipts of more than $1 billion. Every corporation, proprietorship, partnership and limited-liability company of that size would be forced to enroll as a federal corporation under a new set of rules. Under this new Warren charter, companies currently dedicated to their shareholders’ interest would be reordered to serve the interests of numerous new “stakeholders,” including “the workforce,” “the community,” “customers,” “the local and global environment” and “community and societal factors.”

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THE 2020 DEMOCRATS LACK HINDSIGHT – PEGGY NOONAN

Saturday, July 6th, 2019

 

The 2020 Democrats Lack Hindsight

They ignore reality and march in lockstep with their base. Did they learn anything from 2016?

By Peggy Noonan   June 28, 2019

I’ve received tens of thousands of letters and other communications from Trump supporters the past few years, some of which have sparked extended dialogues. Two I got after last week’s column struck me as pertinent to this moment, and they make insufficiently appreciated points.

A gentleman of early middle age in Kansas City wrote to say he’d sat out the 2016 election because he was dissatisfied with both parties. But now he’s for Donald Trump, and the reason “runs deeper than politics.”

America’s elites in politics, media and the academy have grown oblivious to “the average Joe’s intense disgust” at being morally instructed and “preached to.”

“Every day, Americans are told of the endless ways they are falling short. If we don’t show the ‘proper’ level of understanding according to a talking head, then we are surely racist. If we don’t embrace every sanitized PC talking point, then we must be heartless. If we have the audacity to speak our mind, then we are most definitely a bigot.” These accusations are relentless.

“We are jabbed like a boxer with no gloves on to defend us. And we are fed up. We are tired of being told we aren’t good enough.” He believes the American people are by nature kind and generous—“they would give you the shirt off their back if you were in trouble”—and that “in Donald Trump, voters found a massive sledgehammer that pulverizes the ridiculous notion that Americans aren’t good enough.” Mr. Trump doesn’t buy the guilt narrative.

“It’s surely not about the man at this point. It stopped being about Trump long ago. It is about that counter-punch that has been missing from our culture for far too long.”

The culture of accusation, he says, is breaking us apart.

A reader who grew up upper-middle-class in the South writes on the politics of the situation. His second wife, also a Southerner, grew up poor. She is a former waitress and bartender whose politics he characterizes as “pragmatic liberal.” They watched Mr. Trump’s 2015 announcement together, and he said to her, “He doesn’t have a chance.” She looked at him “with complete conviction” and said, “He’s going to win.”

As the campaign progressed, she never wavered. At the end, with the polls saying Hillary, “I asked my wife how she could be so certain Trump was going to win.” He found her response “astute and telling.”

“She told me, ‘He speaks my language, and there’s a lot more of me than there is of you.’ ”

I have to say after a week of reading such letters that emotionally this cycle feels like 2016 all over again. Various facts are changed (no Mrs. Clinton) but the same basic dynamic pertains—the two Americas talking past each other, the social and cultural resentments, the great estrangement. It’s four years later but we’re re-enacting the trauma of 2016.

And the Democrats again appear to be losing the thread.

They’ve spent the past few months giving the impression they are in a kind of passionate lockstep with a part of their base, the progressives, and detached from everyone else.

And in the debates they doubled down. Both nights had fizz. There was a lot of earnestness and different kinds of brightness.

But what Night One did was pick up the entire party and put it down outside the mainstream and apart from the center.

This is what the candidates said:

They are, functionally, in terms of the effects of their stands, for open borders.

They are in complete agreement with the abortion regime—no reservations or qualms, no sense of just or civilized limits.

They’re all in on identity politics. One candidate warned against denying federally funded abortions to “a trans female.”

Two said they would do away with all private health insurance.

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EVERY TIME DEMOCRATS TALK, I WANT TO VOTE FOR TRUMP TWICE

Thursday, March 21st, 2019

 

What a fun  read –    You are going to love this !  Thanks to Steve Bishop for brightening our day   Go Trump !  Nancy

THE FEDERALIST

Every Time Democrats Talk, I Want To Vote For Trump Twice

I am a highly motivated Trump voter because the Democrats have motivated me up to my eyeballs. I have never been more motivated in my life, because the Democrats are terrifying me.

By  George S. Bardmesser   George S. Bardmesser is an attorney in private practice in the Washington, DC area

This article includes rhetorical uses of profanity.

It’s a damn shame I have to wait another 20 months to vote for President Trump. I wish I could do it now. Twice. Or better yet, in as many jurisdictions as I can. Preferably in every swing district and every swing state.

Yeah, yeah, I know — sadly, I can’t. It’s been a hell of a ride these past couple of years, and I sure hope it doesn’t end next November.

I am a middle-of-the-road Republican who voted for Trump with the utmost reluctance in 2016. He sure wasn’t perfect. He was no Cicero, either––though he can give a decent speech when the chips are down. He had a few extra skeletons rattling in his closet, especially compared to colorless non-entities like Jeb. So yeah, I was queasy about voting for an ex-registered-Democrat-from-New-York-and-possible-liberal-now-turned-Republican.

Was I worried? Hell, yeah! Was I depressed? You bet. But, really, what options were there? Hillary? Jill Stein? Seriously? Trump wasn’t my first choice or my second choice or my third choice, but by the time November 2016 rolled around, Trump was the only choice on the menu. So I swallowed hard, took a leap of faith, and pulled the lever for the Donald.

Stormy Daniels and Michael Cohen Are Non-Issues For Me

And let me tell ya, every time one of these newly minted Democratic “stars” opens their mouth, the same thought goes through my mind: Thank God for Trump. Trump is my last line of defense. Trump is the only thing that stands between me and these hallucinogenic socialist nut jobs. Trump is what’s keeping chaos and left-wing insanity at bay.

Maybe I am not a gettable voter for the Democrats. Certainly not easily gettable, but had Trump turned out to be a closet Nelson Rockefeller, and the Democrats were to nominate a genuine centrist, who knows what could’ve happened? Isn’t that what politicians running for president are supposed to do––spend a few months promoting themselves as the reasonable choice, and the other guy as unacceptable?

But today, every single Democrat I can name is working overtime to make damn certain that I will pull the lever for Trump again, and with both hands this time. Trump need not worry about locking down my vote––the Democrats are doing all the heavy lifting.

Every time the Democrats and their media allies peddle yet another “end of the Trump presidency bombshell,” I laugh hysterically. If I laughed any harder, people would think I was having an epileptic seizure.

I can’t even keep track of half the revelations that were supposed to bring Trump to an ignominious end. Even the Democrats forget most of them within days. Remember Papadopoulos? Flynn? Gates? Roger Stone? Some 77-year-old guy I’ve never heard of, getting a handjob at a Florida massage parlor?

Say what? This is a Trump scandal because apparently the former massage parlor owner posed with Trump and various Republicans who know or have spoken to Trump. Who? What? Huh? Democrats don’t just own crazy anymore; Democrats left crazy in their rearview mirror months ago.

Stormy Daniels? Right. Who gives two shits about Trump’s sex life 12 years ago? But, but, “Trump paid her off! It was hush money!” you say? Yeah, okay. He probably did. Oh, hell, who are we kidding here? I am certain that he did. And I care about all this why? I can see why Melania would care, but why do care?

Heck, I’ll go even further––it wouldn’t surprise me if Trump paid off a bunch of other women over the years. In fact, and here I am really going out on a limb, there was some reason to suspect, even before the election, that Trump hasn’t always been a faithful husband to his various wives. But, dear Democrats: I just checked my Vanguard and Fidelity account balances, and I just don’t give a squat about Trump’s sex life or his ex-mistresses or how much they cost him.

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2 VIDEOS – JUDGE JEANINE ON CLINTON AND ELIZABETH WARREN ON SOCIALISM

Monday, August 20th, 2018
VIDEO – FOX NEWS – ELIZABETH WARREN – NATIONALIZE MAJOR U.S. CORPORATIONS
VIDEO  – JUDGE JEANINE PIRRO – HILLARY’S PRIVATE EMAIL SERVER
This video is from 2016 but is full of information that  only Judge Jeanine can lay out so clearly
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THE ROOTS OF AMERICA’S DANGEROUS TURN TO THE LEFT

Tuesday, July 10th, 2018

 

This article  will help you to understand the history behind  how the Far Left has been able to take control of the Democrat Party and what their goals are for our country.     It is a fascinating read .   Nancy

www.thetrumpet.com/13314-the-roots-of-americas-dangerous-turn-left

To understand where the radical left plans to take America, you must understand the source of its ideas. We have been warning America about this for over 50 years!
FROM THE JANUARY 2016       TRUMPET PRINT EDITION

America is in serious decline. Many Americans are deeply concerned. The radical left has gained control of the nation. Look at the Democratic Party today: Its leading personalities promote policies that are weakening the nation economically, socially, morally, militarily and geopolitically. How did they get control? What caused this nation to descend into this condition?

You need to understand what has happened inside this country and why. The problem is far deeper, and has been going on for far longer, than most people realize.

During the Cold War, there was a lot of fear within America about the spread of communism. Today, most Americans no longer consider it a threat of any concern.

But it is of grave concern. Few people realize it, but many mainstream political views in America today are identical to—and trace directly back to—the ideals and beliefs of communism.

One popular candidate running for the Democratic presidential nomination claims to be a socialist. Well, many Communists call themselves socialists. The fact that he has so much support reveals how dangerously ignorant the American people are.

What do you know about communism? A growing number of Americans support the government taking over health care and other major segments of the national economy. They fail to understand the dangers that accompany a Communist system.

Understanding Communism

Socialism and communism are alike in fundamental ways. Both say the centralized government or “the public” should own and control production, rather than individual business owners. Both call for centralized planning and control, which make for powerful governments that are highly susceptible to corruption. Socialism is considered the transition stage from capitalism to communism; in some cases, it is a less radical version that might eventually “mature” into communism.

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REPEALING DODD FRANK

Thursday, June 7th, 2018

 

THE WEEKLY STANDARD

Regulatory Release

May 24, 2018
The partial repeal of Dodd Frank could have gone farther, but it’s a good start.

In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, and President Obama signed it into law. The legislation, more than 2,000 pages long, imposed cumbersome regulations on financial institutions, which the bill’s authors took to be responsible for the 2008 financial crisis and the consequent recession. The law also established the Consumer Financial Protection Bureau, or CFPB, an advocacy agency for consumers that, to no one’s surprise, quickly turned into a Naderite anti-corporation attack dog.

Complicated laws passed in the middle of a crisis are guaranteed to make things worse in the long run, and so Dodd-Frank proved. The Democrats, who controlled both House and Senate in 2010, took the blinkered view that the financial crisis had come about exclusively thanks to the unregulated excesses of the private-sector financial industry; regulating that industry was, for them, the only rational response. The law thus deprived the market of liquidity in the middle of a recession—with predictable results.

The Democrats ignored two important points. First, the role of the federal government itself: Government-backed mortgage giants Freddie Mac and Fannie Mae—then as now boasting powerful allies in Congress—encouraged precisely the sort of risky and foolish loans that led directly to the housing-market collapse and attendant financial meltdown. Second, what many of the investment banks did was already illegal: “cooking the books,” to use the popular term. To that extent, it was an enforcement problem, not a regulatory one. Greater regulation of investment banks largely missed the point—though it allowed powerful Democrats in Congress to blame someone other than themselves for the crisis. (The bill’s authors, Chris Dodd of Connecticut and Barney Frank of Massachusetts, both had a long history of encouraging Fannie and Freddie’s worst practices.) One of the law’s further follies is that it shackled small and mid-sized banks with the same provisions despite the fact that they had nothing to do with the financial crisis.

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CONSUMER FINANCE PROTECTION BUREAU OFFICIAL SUES TRUMP OVER AGENCY LEADERSHIP

Tuesday, November 28th, 2017

 
www.wsj.com/articles/showdown-looms-at-consumer-financial-protection-bureau-1511745899

CFPB Official Sues Trump Administration Over Agency Leadership

Leadership contest is the latest battle to control agency’s direction

Leadership contest is the latest battle to control agency’s direction

White House budget chief Mick Mulvaney is the president’s pick to be acting director of the Consumer Financial Protection Bureau.
White House budget chief Mick Mulvaney is the president’s pick to be acting director of the Consumer Financial Protection Bureau. PHOTO: PABLO MARTINEZ MONSIVAIS/ASSOCIATED PRESS

WASHINGTON—An Obama-era official at the Consumer Financial Protection Bureau sued the Trump administration on Sunday night to block budget director Mick Mulvaney from taking control of the agency.

Leandra English, a career staffer appointed Friday to lead the CFPB by former director Richard Cordray, filed the lawsuit in federal court the night before the bureau was set to reopen with dueling temporary leaders vying to take it over. In doing so, she touched off a legal fight that will trigger court interpretations on how different statutes regarding succession apply to the unusual struggle over control of a federal agency.

President Donald Trump asserts he has the power to appoint an acting director, while the departing chief believed the law said otherwise.

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