Liberals Love Trump’s Tax Plan (When Told It’s Bernie’s)

President Donald Trump’s proposal for comprehensive tax reform was almost immediately dismissed as heartless and impractical by his political opponents.
But Campus Reform wondered what would some of those opponents think if they were told the same plan was being proposed by someone they adore – Senator Bernie Sanders?
To find out, we headed to George Washington University to ask students their opinions on Trump’s new tax plan. WIthout much explanation, the students immediately made clear their distaste for the plan.
‘It’s not the most efficient, nor beneficial to the general populus,’ said one student when asked her opinion of Trump’s plan.
‘It’s better for the upper class than anyone else,’ added another.
After watching student after student express their disapproval of the plan, we then asked those same students what they thought of Senator Bernie Sanders’ new tax plan.
Immediately, they expressed excitement and support after hearing the details of the plan.
The only problem for them? There was no tax plan for Senator Sanders. The plan they loved was actually President Trump’s.
How did they react?

This post was published at Zero Hedge on Oct 21, 2017.

Bernie To Americans: “Sure, You’ll All Pay More Taxes… But You’ll Get More Free Stuff”

Vermont Sen. Bernie Sanders, the runner-up for the Democratic Party’s nomination for president in 2016, told an audience on CNN Wednesday night that Americans would be happy to pay more in federal income taxes if he could just explain to them it would mean they’ll get more ‘free’ government benefits, including health care, child care and college.
As’s Derek Hunter details, in a televised debate against Texas Sen. Ted Cruz, Sanders told the audience the American people would support his economic vision if only he were able to explain it to them.
‘If we can explain to people, ‘Yeah, you’re going to be paying more in taxes. It’s going to be a progressive tax system,’’ Sanders told the crowd,

This post was published at Zero Hedge on Oct 19, 2017.

What Happened To “What Happened”: Amazon Slashes Hillary’s Book Price 40% Before It Hits Shelves

Last Friday, in an attempt at humor, we shared a satirical note from The Onion suggesting that Hillary had already begun work on a follow-up book, entitled “What Also Happened,” intended to define precisely who was to blame for the failure of her first book, “What Happened.”
Alas, if prices are any indicator of demand, which they’re pretty much universally accepted to be unless you’re discussing minimum wages with Bernie Sanders, then Hillary may want to double down on efforts to rush out the sequel as both Amazon and Walmart have decided to slash prices of “What Happened” by 40% before the books even hit shelves.
After Hillary’s publisher Simon and Schuster suggested a price of $30, Amazon slashed prices to $17.99 earlier today…

This post was published at Zero Hedge on Sep 11, 2017.

Thomas Frank: The Demise of the Democratic Party Establishment: Hubris, Nemesis, and the Credibility Trap

“What kind of nation are we when we give tax breaks to billionaires, but we can’t take care of the elderly and the children.”
Bernie Sanders
It started by selling their souls to Big Money and class elitism. In this they joined forces with the Republican party which declared its allegiance to Mammon many years ago, and has served it faithfully ever since.

This post was published at Jesses Crossroads Cafe on 29 JUNE 2017.

Mayor Bloomberg: Democrats Will Lose In 2020 Because “Party Is Going To Be Torn Apart”

Last night, in CNN and Anderson Cooper’s effort to desperately avoid discussing the Democratic debacle unfolding in Georgia, Cooper decided to pivot his discussion with former New York City Mayor Michael Bloomberg to focus on the 2020 election cycle. We can only imagine the thought process: ‘ignore Georgia, surely there must be some silver lining for Democrats if we just look far enough out on the horizon, right Mike?’
Unfortunately, Bloomberg didn’t offer up the reassurances that Cooper, and his employer, were so desperately seeking. Instead, he pegged Trump’s re-election odds at 55% and predicted the entire Democratic party would be in complete disarray by the time the next election cycle rolls around.
Cooper: “I think recently you gave the chance that Trump would be re-elected of 55%.”
Bloomberg: “Yeah, sure. The incumbent always has an advantage.”
‘And the Democratic Party is going to be torn apart by the left and the centralists.”
Of course, after Wikileaks’ DNC leaks exposed the complete corruption of the DNC, which went to great lengths to undermine the candidacy of Bernie Sanders, the real question isn’t whether the Democratic party will suffer the consequences of a deeply divided electorate, but rather why that division hasn’t already manifested itself in the form of a deep party restructuring.

This post was published at Zero Hedge on Jun 21, 2017.

Free Money: Potential Presidential Candidate Mark Zuckerberg Suggests That All Americans Should Get A ‘Universal Basic Income’

Should everyone in America receive a ‘basic income’ directly from the federal government? Considering the fact that we are already 20 trillion dollars in debt, such a concept may sound quite foolish to many of you, but this is an idea that is really starting to gain traction in leftist circles. In fact, Facebook CEO Mark Zuckerberg suggested that this was something that we should ‘explore’ during the commencement speech that he just delivered at Harvard. For quite a while it has been obvious that Zuckerberg is very strongly considering a run for the presidency in 2020, but up until just recently we haven’t had many clues about where he would stand on particular issues. If he is serious about proposing a universal basic income for all Americans, that would make Zuckerberg very appealing to the far left voters that flocked to the Bernie Sanders campaign.
Yesterday, I discussed the fact that the number of Americans that are receiving money from the government each month has reached an all-time high, but Zuckerberg would take things much farther. According to Zuckerberg, society would be far better off if everyone got an income from the government…
‘Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,’ Zuckerberg said during his speech. ‘We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.’

This post was published at The Economic Collapse Blog on May 25th, 2017.

Handout Nation: Combined Enrollment In America’s 4 Largest Safety Net Programs Hits A Record High Of 236 Million

Margaret Thatcher once said that the problem with socialism ‘is that eventually you run out of other people’s money’. As you will see below, the combined enrollment in America’s four largest safety net programs has reached a staggering 236 million. Of course that doesn’t mean that 236 million people are getting benefits from the government each month because there is overlap between the various programs. For example, many Americans that are on Medicaid are also on food stamps, and many Americans that are on Medicare are also on Social Security. But even accounting for that, most experts estimate that the number of Americans that are dependent on the federal government month after month is well over 100 million. And now that so many people are addicted to government handouts, can we ever return to a culture of independence and self-sufficiency?
On Wednesday, CNN ran an editorial by Bernie Sanders in which he called President Trump’s proposed budget ‘immoral’ because it would cut funding for government aid programs.
But is it moral to steal more than a hundred million dollars from future generations of Americans every single hour of every single day to pay for these programs?
Of course the answer to that question is quite obvious.
There will always be some Americans that are unable to take care of themselves, and we should want to help them.
But as millions upon millions of Americans continue to jump on to the safety net, eventually we are going to get to the point where it is going to break.
As I mentioned above, the combined enrollment in the four largest safety net programs has reached a new all-time record high…

This post was published at The Economic Collapse Blog on May 24th, 2017.

Bernie To Introduce $15 Federal Minimum Wage Legislation On Wednesday

We all knew it was coming and now it has finally been confirmed that the Senate’s favorite Socialist will introduce legislation later this week calling for a $15 federal minimum wage. The pending release of the bill was confirmed earlier today by Bloomberg’s Josh Eidelson. Apparently co-sponsored by fellow liberals, Senator Murray, Keith Ellison, Bobby Scott and Raul Grijalva, the bill will call for a $15 federal minimum wage to be fully implemented by 2024.
Bernie Sanders, Sen. Murray, Keith Ellison, Bobby Scott, Raul Grijalva et al will unveil bill Wednesday to raise minimum wage to $15 by 2024
— Josh Eidelson (@josheidelson) April 24, 2017

This post was published at Zero Hedge on Apr 24, 2017.

Amid Global Uncertainty, Pay Attention to this Manufacturing Index

Last week I returned from Zurich, where I spoke at the European Gold Forum. Investor sentiment for the yellow metal was particularly strong on negative real interest rates and heightened geopolitical uncertainty in the U. S., Europe, Middle East and South Africa. A poll taken during the conference showed that 85 percent of attendees were bullish on gold, with a forecast of $1,495 an ounce by the end of the year.
The upcoming presidential election in France is certainly raising concerns among many international investors. On one end of the political spectrum is Marie Le Pen, the far-right National Front candidate who, if elected, might very well pursue a ‘Frexit.’ On the other end is Jean-Luc Mlenchon, a socialist of such extreme views that he makes Bernie Sanders look like Ronald Reagan. I was shocked to read that Mlenchon has pledged to implement a top tax rate of 100 percent – and even more shocked to learn that he’s moving up in the polls. An insane 100 percent tax rate would surely return the country to medieval-era feudalism, which is just another name for slavery. All the wealth naturally goes to the very top, and corruption thrives.

This post was published at GoldSeek on Tuesday, 11 April 2017.

Audit the Pentagon

One of the benefits of being an extremely powerful lobby in Washington is the ability to live off the taxpayers without ever having to tell the taxpayers what you they with their money. This includes two of the most powerful lobbies in DC: the Fed and the Pentagon.1
In recent years, thanks to Ron Paul, the “Audit the Fed” movement has gained a high profile in Washington and continues to be an election issue. Far less salient, however, is the issue of Auditing the Pentagon. And, unfortunately, like the Fed, the Pentagon is able to quash efforts to make the massive military establishment more transparent and more accountable in its spending. In fact, the Fed’s refusal to submit to any sort of full or meaningful audit has become so intransigent that Senators Ted Cruz and Bernie Sanders co-sponsored the “Audit the Pentagon Act of 2015” to force the Pentagon to submit to auditors.

This post was published at Ludwig von Mises Institute on April 5, 2017.

Creative Destruction Versus Government Fixes

Authored by Valentin Schmid via The Epoch Times,
Macquarie strategist Viktor Shvets explains overcapacity, debt, and government intervention
Despite the temporary injection of confidence in the American economy brought about by the election of President Donald Trump, major structural problems continue to lurk beneath the surface. These trends, decades in the making, are so entrenched and intractable that even Trump’s boldest plans may not be able to resolve them.
For many Americans, this is the economy: rising prices for necessities, schooling, and health care; high competition for jobs that don’t pay much; negative interest rates; and the accumulation of increasing influence and power by financial institutions.
It’s no wonder so many feel disenfranchised and upset. The system of capitalism is usually given the blame for income inequality; last year, many identified with Bernie Sanders, a self-described socialist who promised that the government would be able to fix (almost) everything.

This post was published at Zero Hedge on Apr 4, 2017.

Meet “Flippy”, The Burger-Flipping ‘Bot That CaliBurger Is Rolling Out In All Its Restaurants

Dear Bernie Sanders, it is our great pleasure to introduce to you, “Flippy”, the burger-flipping robot that will soon replace all those fast food workers that you’re working so vehemently to get fired via your efforts to introduce artificially high $15 per hour minimum wage rates.
‘Flippy’, a robotic kitchen assistant, is the creation of Miso Robotics, an engineering firm specializing in ‘adaptable robotics’ for commercial kitchens. Miso’s goal is to develop technology that can handle hazardous, tedious and time-sensitive aspects of cooking, from flipping burgers to frying chicken, cutting vegetables or final plating…in other words, all of the minimum wage restaurant jobs where employee costs just skyrocketed courtesy of economics-challenged politicians.

This post was published at Zero Hedge on Mar 8, 2017.

Is SEC Nominee Jay Clayton the New Harvey Pitt?

Yesterday the Senate Banking Committee announced that the confirmation hearing for Trump’s nominee to Chair the Securities and Exchange Commission, Jay Clayton, will be held on March 23. Expect fireworks in the hearing from Democrats who are mad as hell at the myriad conflicts of this nominee.
When Clayton’s name was first announced by the Trump camp, Senator Sherrod Brown, the Democrat’s ranking member of the Senate Banking Committee, sent out a press release with this statement:
‘It’s hard to see how an attorney who’s spent his career helping Wall Street beat the rap will keep President-elect Trump’s promise to stop big banks and hedge funds from ‘getting away with murder.’ I look forward to hearing how Mr. Clayton will protect retirees and savers from being exploited, demand real accountability from the financial institutions the SEC oversees, and work to prevent another financial crisis.’
Last evening, Our Revolution, the organization created by supporters of Senator Bernie Sanders after his failed bid for the Presidency, ramped up the heat against Clayton with an email blast asking Sanders’ supporters to sign a petition against Clayton. The email message read in part:
‘Clayton’s ties to Wall Street are deep. His law firm specializes in protecting Wall Street banks, and during the financial crisis he worked as a bailout attorney for Goldman Sachs, where his wife works today… The SEC chair is supposed to referee Wall Street banks, but Clayton has spent his entire career protecting their interests – and more than half of his family income currently comes from one of them. How can he be trusted to suddenly switch sides and put working Americans first?’

This post was published at Wall Street On Parade By Pam Martens and Russ Marte.

The State of US State Exports

A domestic political battle is brewing in the United States between President Donald Trump’s administration and the Republican Party over the president’s economic plans. Trump’s key economic positions during his campaign included his opposition to free trade deals, his promise not to cut Social Security and Medicare, and his support of large-scale infrastructure spending. These are all positions that have clashed with general Republican orthodoxy. They were also the reason that some Bernie Sanders supporters found themselves nodding in unexpected agreement with Trump’s proposed policies.
We can bring one key insight to this conversation as the battle lines are being drawn. It is extremely difficult to speak of the US economy as an undifferentiated whole. The US has varied economic interests at both the regional and state levels. This makes it extremely difficult to find a one-size-fits-all policy that can fix every problem.
This is not only true for the US – almost all large countries (and even some small ones) are highly regionalized. It is also not to say that national economic statistics are useless – they can be used to make important observations about the overall performance of a national economy, especially in terms of the economic power of a given country. But too often, discussion of the US economy focuses disproportionately on the national level and not enough on the regional.

This post was published at Mauldin Economics on MARCH 6, 2017.

Wall Street Financed Jeb Hensarling for its Propaganda War – Now In Full Swing

Jeb Hensarling is the Republican Chair of the Financial Services Committee in the U. S. House of Representatives. Despite the seriousness of that job, Hensarling displays amazing ignorance of the inner workings of Wall Street at the hearings over which he presides. Unlike Senator Bernie Sanders who stumped around the country for more than a year during his primary campaign, reinforcing to Americans what they already suspected, that ‘the business model of Wall Street is fraud,’ Hensarling wants to kill the few restraints on this criminal cartel that currently exist. He has been well financed by Wall Street to get the job done.
Among Hensarling’s largest donors for his 2016 re-election campaign were every major Wall Street bank, including two admitted criminal felons (JPMorgan Chase and Citigroup’s Citicorp) as well as those charged with market rigging and serial frauds against the investing public. Wall Street mega banks giving $10,000 or more to Hensarling’s campaign included: Bank of America, $15,000; JPMorgan Chase $14,700; Goldman Sachs $12,700; UBS $10,500; Citigroup $10,000; Credit Suisse $10,000; Morgan Stanley $10,000; Wells Fargo $10,000; and Wall Street’s trade association, the Securities Industry and Financial Markets Association (SIFMA), which gave Hensarling $10,000. (Our source is the Center for Responsive Politics which notes that ‘The organizations themselves did not donate, rather the money came from the organizations’ PACs, their individual members or employees or owners, and those individuals’ immediate families.’ Corporations are not legally allowed to donate directly to campaigns.)
Over the past week, Hensarling has been on a public relations mission to portray the Wall Street-hated Consumer Financial Protection Bureau (CFPB) as a ‘rogue’ federal agency and smear Senator Elizabeth Warren as its mastermind. Last night, this headline appeared over an opinion piece by Hensarling in the Wall Street Journal: ‘How We’ll Stop a Rogue Federal Agency: Congress can defund Elizabeth Warren’s unaccountable and unconstitutional CFPB.’

This post was published at Wall Street On Parade By Pam Martens and Russ Marte.

Fed Chair Janet Yellen Channels Bernie Sanders in Speech to Teachers

Last night the Federal Reserve convened a Town Hall meeting via webcast with K-12 teachers and college educators of economics and history. Federal Reserve Chair Janet Yellen delivered a speech and then took a series of questions from teachers. It was during the Q&A period that Yellen gave a sobering assessment of the long-term prospects for the U. S. At numerous points, Yellen echoed the income inequality themes that Senator Bernie Sanders raised repeatedly at his rallies around the country during the presidential primaries.
When asked about the biggest obstacles to the U. S. economy over the short and long term, Yellen said she did not have serious concerns over the short term but was worried about the longer term. In addition to productivity concerns, Yellen stated: (See video clip below.)
‘We have seen over many decades now that the returns – the wages and income – of people with more education and higher skills have continued to increase systematically relative to those with less education. By some measures, men with a high school education or less are seeing not only stagnant incomes but the disappearance of jobs that afforded them reasonably secure lives and retirements. And these are problems that really lie outside the scope of what the Federal Reserve is able to address and I think they represent longer term structural trends in the global economy.’

This post was published at Wall Street On Parade on January 13, 2017.

Financial Crash Analysis: $22.6 Billion in Homeowner Relief; $7.8 Trillion to Four Wall Street Banks

As Goldman Sachs guys prepare to take the reins of power in Washington under the Trump administration, the Government Accountability Office (GAO) provided a tragic reminder on Monday regarding the power of the U. S. citizen versus their Wall Street overlords. The GAO released a study showing that as of October 31, 2016, the government ‘had disbursed $22.6 billion (60 percent) of the $37.51 billion Troubled Asset Relief Program (TARP) funds’ that were directed at helping distressed homeowners as a result of the 2008 Wall Street financial crash and the resulting housing bust.
Those paltry billions stand in stark contrast to the $7.8 trillion in near-zero interest loans that the Federal Reserve secretly funneled to just four Wall Street banks from 2007 to 2010. The Fed funneled $2.5 trillion to Citigroup; $2 trillion to Morgan Stanley; $1.9 trillion to Merrill Lynch; and $1.3 trillion to Bank of America. The total amount that the Fed secretly loaned to both U. S. and foreign banks came to $16.1 trillion. (See the chart below from the 2011 GAO report for the full list of bailed out banks.)
The American people would still be in the dark about the Federal Reserve’s covert money spigot to the banks except for Senator Bernie Sanders. In 2010, as Congress was debating the Dodd-Frank financial reform legislation, Sanders introduced an amendment that would force the GAO to conduct a one-time audit of the Fed covering its emergency lending programs from December 1, 2007 through July 21, 2010, the date the legislation was signed into law by President Obama. (Because of this abbreviated period of time, the public may still lack full details about Wall Street’s bailout. Sanders got pushback from the White House that prevented him from pushing for a stronger amendment.)

This post was published at Wall Street On Parade on January 11, 2017.

Mnuchin Nomination for Treasury Shines Harsh Light on U.S. Politics

Over the span of the last two weeks, President-elect Donald Trump’s U. S. Treasury Secretary nominee, Steven Mnuchin, has been the subject of multiple, scathing investigative reports by the media; earned a web site established by Senate Democrats dubbing him the ‘Foreclosure King’ and soliciting complaints from the public; garnered a television ad campaign directed against him; and has been skewered by a devastating document leaked by someone currently or formerly connected to the California State Attorney General’s Office, indicating that the bank Mnuchin ran from 2009 to 2015, OneWest, repeatedly violated California foreclosure law, including backdating documents and making illegal bids, in order to throw thousands of vulnerable people out of their homes.
Mnuchin is also a former Goldman Sachs partner and hedge fund operator who has never held public office before. His rapid rise to nominee for one of the highest posts in the U. S. government, which will also put him atop the Financial Stability Oversight Council (F-SOC), appears to be hinged to raising millions of dollars for Trump’s political campaign as his National Finance Chairman. To millions of Americans, this looks like an unseemly political quid pro quo.
In a press release, Democratic Senator Jeff Merkley had this to say about the nominee:
‘Donald Trump’s choice of Mnuchin is not only a fundamental betrayal of his promise to stand up to Wall Street – it is a punch in the gut to the thousands of American families who were thrown out of their homes by Mnuchin’s bank. The voices of these Americans should be heard loud and clear as the Senate examines his record and considers his nomination.’
Senator Bernie Sanders weighed in with this:

This post was published at Wall Street On Parade By Pam Martens and Russ Marte.

New York Governor Proposes “Free Tuition” For Public Universities

There is little doubt that easy access to federally subsidized student loans has contributed to the astronomical increase in the cost of attending college in the United States. After all, what 18 year old would turn down $200,000 in free money to party for 4 years? As an added bonus, when you figure out upon graduation that your degree in anthropology if fairly worthless, you can always just move back in with mom and force taxpayers to pick up your debt burden. Anything less would be a substantial “triggering” event and we just can’t have that.
As we noted roughly a year ago, the amount of student debt outstanding is on track to reach nearly $17 trillion by 2030…which is clearly enough artificial demand to send the price of almost any commodity product soaring.
Well, apparently New York’s Governor doesn’t think that misinformed government policies are doing nearly enough to drive up college tuition costs. As a result, he has decided to jump on the Bernie Sanders bandwagon with a new proposal that would provide free tuition at public state and city colleges to any student whose parents earn less than $125,000.

This post was published at Zero Hedge on Jan 3, 2017.

Six Steps Trump Can Take Toward Better Monetary Policy

Since Nixon severed the final link to gold in 1971, the US dollar has lost more than 80% of its purchasing power, wreaking havoc on ordinary savers, conservative investors, and households on fixed incomes. Today, inflationary monetary policy continues to be a foundational tenet of all presidential administrations as politicians and central bankers have heedlessly been borrowing and printing currency without restraint in order to bankroll today’s bloated and insolvent federal government.
RELATED: “What To Do While Waiting to End the Fed“
Movement in the direction of sound money is badly needed, and even without abolishing central banking, there are several steps that the Trump administration can take toward improving monetary policy.
Step One: Audit the Fed From Ron Paul to Bernie Sanders and many people in between, there has been plenty of support for ‘Audit the Fed’ legislation. Politicians and constituents alike agree that the Federal Reserve lacks even the most basic oversight a government-sponsored institution should have – particularly when its officials can make decisions which can bring the American economy to its knees.

This post was published at Ludwig von Mises Institute on Dec 16, 2016.