An instructive myth-versus-fact visual when it comes to public assumptions regarding corporate profits…
CFIF on Twitter CFIF on YouTube
Image of the Day: Myth Versus Fact Regarding Corporate Profits

An instructive myth-versus-fact visual when it comes to public assumptions regarding corporate profits, courtesy of AEI:

. [caption id="" align="aligncenter" width="520" caption="Myth Versus Fact: Corporate Profits"][/caption]


January 17, 2018 • 01:08 pm

Liberty Update

CFIFs latest news, commentary and alerts delivered to your inbox.
Jester's CourtroomLegal tales stranger than stranger than fiction: Ridiculous and sometimes funny lawsuits plaguing our courts.
New Polls: As Obama Doubles Down, Americans Move in Opposite Direction Print
By Timothy H. Lee
Thursday, September 29 2011
At each stop, Obama demands that we raise taxes, increase government power over our lives and regulate private businesses even more. ... Fortunately, however, new polls show that the American public is moving in precisely the opposite direction.

Last week, we noted the sudden rash of scandals smoldering within the Obama Administration. 

First there was “Operation Fast and Furious,” in which the Obama Justice Department recklessly steered thousands of firearms into the hands of Mexican gun runners and drug cartels.  Then there was Solyndra, with over half a billion taxpayer dollars wasted on a single “green energy” boondoggle operation with political connections to the Obama White House.  Now we’re witnessing LightSquared, with suggestions of even more campaign donation pay-to-play, as well as allegations that Obama Administration officials pressured a U.S. Air Force general to alter sworn testimony in LightSquared’s favor. 

Most reasonable people would quickly learn from these scandals, the resulting investigations and public backlash. 

But we’re not dealing with reasonable people.  We’re dealing with the Obama Administration. 

Instead of internalizing these lessons, the Obama Administration is doubling down. 

And not just figuratively, but literally.  On the heels of the $535 million Solyndra debacle, Obama’s Energy Department just this week approved twice that amount - $1.1 billion – in taxpayer loan guarantees to two solar companies. 

It gets even worse.  The second in command at one of the companies is reportedly none other than Ronald Pelosi, Nancy Pelosi’s brother-in-law.  And according to the federal government’s own website, those billion taxpayer dollars will create just “45 permanent jobs.”  That’s $24.5 million of your taxes per job.  With Obamanomic handouts like that, who needs the lottery? 

Obama’s “double down” mentality extends to his 2012 campaign strategy as well.  Rather than learn the obvious lessons of the November 2010 Congressional “shellacking” that he suffered, Obama has instead pivoted even further to the political left and become even more shrill in his rhetoric. 

Mere months after claiming to seek more civil political discourse, Obama refused to admonish union allies who equated his reelection to a “war,” labeled political opponents “son [sic] of b----es” and encouraged audiences to “take them out” before he took the stage.  Obama also repeatedly accuses Republicans of sacrificing the nation’s welfare in favor of partisan gain, never mind that he flatly refused to negotiate in good faith in 2009-2010 when his own party controlled both houses of Congress.  Recall, for instance, his snarky “I won” comment to Congressman Eric Cantor (R – Virginia) and his, “You’ve got me” reply to then-Senator Blanche Lincoln (D – Arkansas) when she asked how she could possibly be expected to support ObamaCare in the face of massive voter opposition.  And just this month, the Obama campaign launched a website encouraging supporters to report critical comments of fellow citizens. 

In terms of substance, Obama has abandoned any pretense of bipartisanship, and instead charged toward the hard left in an attempt to energize the most fanatical elements of his base. 

At each stop, Obama demands that we raise taxes, increase government power over our lives and regulate private businesses even more.  He also continues to repeat the false claim that wealthier Americans somehow pay a lower overall tax rate than middle and lower classes, despite the fact that even the mainstream media has refuted that claim based on the federal government’s own data. 

Fortunately, however, new polls show that the American public is moving in precisely the opposite direction. 

According to one new Gallup poll, 57% of Americans say that the federal government already has “too much power,” versus only 8% who say that is has “too little” power.  Just 8 years ago in 2003, just 39% of Americans said that the federal government was too powerful, versus 52% who said that the federal government had “about the right amount” of power. 

More than twice as many Americans also state that there is “too much” federal regulation of business and industry, as opposed to either “the right amount” or “too little” regulation.  According to the poll, a 56% majority of Americans also believe that “the government is trying to do too many things that should be left to individuals and businesses,” compared to 39% who say that, “government should do more to solve our country’s problems.” 

And while Obama continues his “tax the rich” class warfare line of attack, an overwhelming 56% to 16% majority of Americans assert that they, “would rather have less [sic] government services in order to reduce taxes” versus those who “would rather have more government services if that meant more taxes.”  That is a 20% increase since the same question was asked in 1993. 

Thus, while Obama doubles down on his tactics and strategy, Americans increasingly disfavor his agenda. 

Remember how Barack Obama was supposedly the most transcendent and persuasive orator in our lifetimes?  It turns out that the opposite is true. 

That is a welcome vital sign for America, and its future prospects for recovery from Obama’s current mismanagement. 

Question of the Week   
Which one of the following U.S. Naval officers is famous for stating: ‘Damn the torpedoes, full speed ahead’?
More Questions
Quote of the Day   
"WASHINGTON (Reuters) - The U.S. Senate on Thursday passed a bill to renew the National Security Agency's warrantless internet surveillance program for six years with minimal changes, overcoming objections from civil liberties advocates that it undermined the privacy of Americans.The legislation, which easily passed the House of Representatives last week, is expected to be signed into law by President…[more]
—Dustin Volz, Reuters
— Dustin Volz, Reuters
Liberty Poll   

Traditionally, the President's political party loses Congressional seats in midterm elections. Will the positive economic trends being generated by tax reform allow Republicans to retain enough seats in 2018 to maintain majorities in both houses?