The other side of the journalistic malpractice coin is that the Wall Street Journal could easily have —but didn’t— used our critically low home sales as a hook to compare the two candidates’ economic plans. It’s only twelve days from the election!
Why couldn’t the reporters —there were two of them— just shoot a quick email to both campaigns asking for a comment? Was that really so hard?
Apparently, for reporters Nicole Friedman and Gina Heeb at the Wall Street Journal, yes, emailing presidential campaigns for a comment —even though their press offices are staffed 24x7— was too hard. So was texting or calling. Oh well. (My college journalism professor would have failed them both.)
Fortunately, CNN ran a helpful story yesterday to tell Democrats what to think, headlined, “
23 Nobel Prize-winning economists call Harris’ economic plan ‘vastly superior’ to Trump’s.”
Vastly superior? Are we talking about the same Kamala “Wine Box” Harris?
Nobel prize-winning? Albert Nobel must be spinning in his grave so fast that he’s probably created a space warp and left this part of the multiverse for good.
See ya; I’m outta here.
In a just world, these economists would have to give their Nobel prizes back, even though most were probably awarded for something about diversity and equity and woke virtue signaling instead of any practical economic theory. But I digress. Their so-called “letter,” addressed to nobody, is just a piece of paper that
looks like it was typed by a first-time computer user, rather than anyone who should’ve gotten a Nobel prize
Don’t be shocked: Their short letter was, shall we say, big on angry (not joyful) rhetoric but a wee bit light on
specifics.
In fact, their stupid letter was so pathetic that most of the articles about the story did not even link the letter. Better to keep it out of sight. (To its credit, CNN did).
Plus, the media got convenient amnesia about the eerily similar letter by the 51 liars, I mean former intelligence officials, who signed that letter last time ‘round
confirming the Hunter Biden laptop was a Russian psyop. It wasn’t. They lied.
At this point, I think we’re all pretty tired of so-called experts telling us what to think.
In their brief note, the far-left, letter-signing economists claimed —without evidence!— that Kamala’s economic plan is “vastly superior” to Trump’s economic plan. I’m not sure they read either plan. For one thing, they cited the worst possible part of Kamala’s plan to make their point. Just wait.
Before we get to
that, neither the letter (nor CNN) addressed the economic elephant in the room:
both politicians were in office for four years! We don’t have to guess! We can just look at what each candidate did while they were in office. Trump wins hands down in the Real World™ (see previous story about home sales). But these economists live in Marxist-fantasy virtual reality, where pink-horned unicorns trot on highways made of rainbow-colored candy ribbon.
Anyway, conclusively proving that, these days, Nobel prizes are handed to woke economists as fast as free cell phones are handed to illegal immigrants, the economists only cited Kamala’s worst plan, to “enhance competition, and promote entrepreneurship.”
This cite was based on a Kamala campaign proposal calling for Congress to pass a $50,000 tax deduction for first-time small businesses. Credulous economic experts explain it is designed to encourage a groundswell of new business creation, leading down the road to a
stronger middle class.
What a crock. It’s fake, fake, fake. And it only takes a
second to see it. They didn’t even try to hide it that hard. Anyone who can’t see it should never again be called an economist. They should be called dumkopfs.
A tax
deduction is not the same as a tax
credit, which would have been much better. Kamala’s notional tax
deduction would ostensibly allow a first-time startup business to
deduct $50,000 from its first-year’s pre-tax profits, lowering the total amount of its profits that would be subject to tax.
The main problem is: STARTUP BUSINESSES DON’T MAKE PROFITS SO THEY DON’T PAY TAXES AND SO THEY CAN’T USE TAX DEDUCTIONS.
It is well-known that it takes up to three years for
most new businesses to start being profitable. Kamala’s tax plan only encourages starting
sure things, businesses that expect to make money right away without having to do any spadework.
That miniscule cohort includes only
illegal businesses (drugs, sex work) and a teeny tiny category of small businesses that don’t require any startup capital or
customers.
So, that’s a problem. But it gets worse. Second, Kamala has also proposed to increase corporate tax rates, for
fairness. So any startup small business that wins the entrepreneurial lottery and actually makes a first-year profit, and so gets the deduction, must pay higher taxes on the rest of its profits. So it’s not at all clear whether even the lucky few are any better off, between the first-year Kamala deduction and the higher tax rate.
That ridiculous charade is the same “economic plan” the 23 economists relied on to opine Kamala’s plan was “vastly superior.”
On the other hand, President Trump’s economic plan includes tangible, measurable things that affect the entire economy rather than a tiny cohort of maybe small businesses:
- implementing targeted tariffs to increase investment in the U.S. (economists hate tariffs, but since sanctions as basically reverse-tariffs, they inarguably worked wonders for Russia’s economy),
- lowering corporate taxes to spur new business formation and innovation,
- massively expanding domestic energy production to lower the price of everything, and
- massively deregulating businesses to put rocket fuel in the economy.
Apart from poo-pooing Trump’s proposed tariffs, they didn’t discuss any of his other plans. The paltry 22 economic experts who signed their love letter to Kamala should be considered about as reliable as the 51 intelligence experts who lied about Hunter’s laptop. Take your silly letter somewhere else.
Stagflation hits the WSJ but nobody noticed; Nobel-winning experts soil themselves selling Harris; Trump and Kamala Georgia rallies; New Statesman essay on Michigan seals deal for Trump; and more.
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