On the heels of Friday's unsettling jobs report from the Labor Department, we can now judge the performance…
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Image of the Day: Biden, Pelosi and Schumer Faceplanted On Jobs in 2021

On the heels of Friday's unsettling jobs report from the Labor Department, we can now judge the performance and promises of Joe Biden and the Pelosi/Schumer Congress against actual reality.  They promised 10.3 million jobs would be created in 2021 if their massive spending and regulation blowout passed, versus 6.3 million jobs if their agenda wasn't passed.  So how did it turn out?  Their agenda was passed, but only 6.1 million jobs were created as the U.S. economy slowed and struggled to recover from the Covid dip, as AEI's Matt Weidinger highlights.  They apparently made things worse, not better, illustrating the sardonic adage, "Don't just do something - stand there."

 

[caption id="" align="alignleft" width="905"] BIden Jobs Performance: Worse Than Doing Nothing[/caption]…[more]

January 10, 2022 • 10:13 AM

Liberty Update

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Taxes & Economy
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91 IRS Data: Wealthier Americans Actually Pay More Than Their "Fair Share"

Do you or anyone you know insist that wealthier Americans should pay their "fair share" of the nation's taxes?  If so, then there's good news:  They already do.  In fact, according to Internal Revenue Service (IRS) data, they pay far more than their fair share.  The IRS recently released its annual summary of tax data…

92 CFIF Print Ad Urges Congress to “Get to Work” on Tax Reform

The Center for Individual Freedom last week ran a full-page print advertisement in The Weekly Standard and Washington Examiner urging Congress to “Get to Work” on passing business tax reform. “With a 35% business tax rate - the highest among the OECD nations - U.S. businesses of all sizes are suffering,” the ad reads. &ldquo…

93 Puerto Rico’s Untold Tale of Corruption

By now, many Americans are familiar with the public debt fiasco that plagues Puerto Rico. The issue has steadily risen in prominence as the gravity of Puerto Rico’s debt load sets in on the American public. Certainly, the island’s economic mismanagement has taken center stage in Washington, as Puerto Rico Governor Alejandro Garcia Padilla…

94 As Our Economy Continues to Stagnate, the U.S. Falls Again in Annual Index of Economic Freedom

Last week, the U.S. Commerce Department announced that our economy grew just 0.7% in the final quarter of 2015.  Days later, the annual Wall Street Journal/Heritage Foundation Index of Economic Freedom revealed that our standing once again declined last year.  Adding particular poignancy is the way in which those two measures tragically…

95 Powerball's Biggest Winner: Government

Ka-ching! Wednesday's Powerball jackpot soared to $1.5 billion as get-rich-quick mania seized America this week. But you don't need to wait for the drawing to know who'll score the royal payoff. The biggest winner of the multistate numbers game is — drumroll, please — Uncle Sam. Powerball is a government-sponsored gambling racket…

96 Paul Ryan Starts Off on Wrong Foot With Budget Deal

Grass-roots conservatives have many unrealistic expectations and political objectives. And then sometimes they have a good point. The new budget deal arranged by John Boehner and Democrats -- approving $50 billion of additional spending in 2016 and $30 billion in 2017 -- will be split between domestic discretionary programs and defense. Cuts will…

97 Liberals Once Cared About Deficits, Until Obama Multiplied Them

Back when George W. Bush was president, liberals ceaselessly condemned his comparatively mild budget deficits.  When Barack Obama became president and proceeded to compound those deficits, however, they conspicuously went silent.  Recall what candidate Obama had to say about the issue on July 3, 2008.  On that date, the most recent…

98 Politicians' Words

At the recent televised debate among candidates for the Democrats' nomination for president, Hillary Clinton declared that "the wealthy pay too little" in taxes and "the middle class pays too much." Some people might wish to argue about whether that is true or not, but no rational argument can be made on either side of this issue…

99 Trump's Tax Plan: What's There. What's Not.

Donald Trump released his tax reform plan this week. Which is to say, this is Trump’s 2015 tax reform plan. His previous statements deriding Reagan- and Bush-era tax cuts, advocating a wealth surtax, and touting the virtues of a European-style Value Added Tax on goods and services should henceforth be considered null and void. Trump took to…

100 Obama "Recovery" Objectively Worst on Record

"Quarterly Increase in U.S. Worker Pay Smallest on Record"  So read the alarming headline of a Bloomberg Business report this past week:  "Wages and salaries in the U.S. rose in the second quarter at the slowest pace on record, dashing projections that an improving labor market would boost pay.  The 0.2 percent advance…

101 Free Trade: Congressional Trade Promotion Authority (TPA) Legislation Merits Conservative Support

The post-World War II epoch has witnessed greater prosperity and economic growth than any in human history, due largely to free trade under American guidance.  In contrast, the years preceding World War II were characterized by the most severe global depression in history, as nations withdrew behind protectionist barriers.  Centuries before…

102 'Just Asking'

In a recent panel discussion on poverty at Georgetown University, President Barack Obama gave another demonstration of his mastery of rhetoric -- and disregard of reality. One of the ways of fighting poverty, he proposed, was to "ask from society's lottery winners" that they make a "modest investment" in government programs to…

103 Deficit Growing Again, Despite Record Income Tax Haul

So Americans paid $1.4 trillion in income taxes for 2014, a new record high.  For 2015, the expected total is even higher.  It is therefore unsurprising that a majority of Americans consider the amount of taxes they pay "too high" as opposed to "about right," according to a new Gallup survey.  Just 3% - perhaps the…

104 'Tis the Season

It's tax season again, and all across the country, taxpayers and tax accountants are feeling the effects of filing a return or an extension so they don't end up on the wrong side of the IRS, get audited or, worse, get put in prison. It's never easy, but this year is even more painful than ever. The U.S. tax code has become so complicated that taxpayers…

105 The Taxman Cometh

Rand Paul is usually a pretty politically savvy guy, but he made a mistake when it came time to announce his presidential candidacy. Had the Kentucky Senator really wanted to prime voters for his anti-government message, he would’ve waited a week and announced his candidacy on April 15: Tax Day. If, like me, you’ve spent the past few weeks…

106 Ruinous 'Compassion'

It is fascinating to see brilliant people belatedly discover the obvious — and to see an even larger number of brilliant people never discover the obvious. A recent story in a San Francisco newspaper says that some restaurants and grocery stores in Oakland's Chinatown have closed after the city's minimum wage was raised. Other small businesses…

107 White House: Obama “Very Interested” in Unilaterally Raising Taxes

If his press secretary is to be believed, President Barack Obama is considering whether to use executive actions to unilaterally raise taxes. “The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans,” White House Press Secretary Josh Earnest…

108 Attention, San Fran Nan: Government Dependency Kills Jobs

Being a San Francisco liberal means never having to say you're sorry. Or wrong. Take Nancy Pelosi, please. Five years ago, California's genius Bay Area Democrat declared that government unemployment checks generate job growth. Yes, really. "Let me say about unemployment insurance," she told reporters, "this is one of the biggest stimuluses…

109 By the Numbers: Obama's Economic, Jobs and Deficit Performance Is the Worst On Record

Given what we know now, only Barack Obama could attempt to characterize his economic record as one of achievement rather than historic failure.  Only Obama could attempt to characterize his record on deficits, which dwarf those of any other president that preceded him, as a successful one.    And only Obama could characterize…

110 Paul Ryan Passes on Presidency to Focus on Reforming Government Now

On Monday, Representative Paul Ryan (R-WI) said he would not run for president in 2016. Instead he will focus on enacting policies to spur economic growth as the new head of the House Ways and Means Committee.  “After giving it a lot of thought, I’ve decided not to run for president,” Ryan said in a statement. “Our work…

111 Inversion: America Has Gone From Attracting Global Business to Penalizing It

Throughout our nation's history, Americans have taken justifiable pride in cultivating a domestic climate that attracts innovators, entrepreneurs and businesses from across the globe.  In recent years, however, our tax laws and federal regulations have eroded our international competitiveness.  Paradoxically, that has occurred during a period…

112 Warren Buffett Abandons Obama

Agitated by the predictable consequences of their tax and regulatory agenda, liberals and the Obama Administration condemn the "economic patriotism" of "corporate deserters" who seek refuge by relocating operations beyond U.S. borders.  This week, Burger King became just the latest target of their misplaced wrath, after announcing…

113 If Bush's $4 Trillion Debt Was "Unpatriotic," What Is Obama's $7 Trillion?

"That's irresponsible.  It's unpatriotic!"  So said Barack Obama on July 3, 2008, referring to the $4 trillion in cumulative new debt under George W. Bush:  "The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving…

114 Obama Administration Questions Others' Patriotism While Obstructing Bipartisan Corporate Tax Reform

It may come as a surprise to many, but the United States imposes the developed world's highest corporate tax rate, with a combined federal and state average of 39.1%.  Exacerbating matters, our corporate tax code is a hopelessly complex and convoluted one.  Among other defects, the U.S. code taxes not only domestic earnings, but overseas…

115 Study: Obama Recovery Built on Low-Wage Jobs

Rather than address a labor market increasingly characterized by low-wage jobs, President Barack Obama and Democrats in Congress are trying to distract voters by highlighting a series of issues that will do almost nothing to improve economic opportunity.  Those issues include votes in the U.S. Senate to raise the minimum wage to $10.10 an hour…

116 A Chance to Strike at the Heart of Crony Capitalism

There’s a famous quote — one of those too good for anyone to have definitively sourced — in which Mahatma Gandhi, upon being asked what he thought of western civilization, supposedly responded, “I think it would be a good idea.” The aphorism may be little more than the stuff of legend, but the same principle could apply…

117 Paul Ryan Is Ready for a Promotion

After four years of proposing ideas to slim down the federal budget, Paul Ryan may get an opportunity to write them into law – perhaps as soon as next January. On the same day that Ryan (R-WI), the House Budget Committee chairman, proposed his fourth annual “Path to Prosperity” funding bill, Dave Camp (R-MI), the House Ways and Means…

118 Obama’s 2015 Budget Rejects Compromise, Cements Disastrous Legacy

While his foreign policy disasters accumulate, Barack Obama should be eager to seek domestic compromise to salvage his disastrous presidency.  Recall that Bill Clinton strived to rescue his presidency, which was otherwise distinguished by early incompetence and the fact that he’s one of only two presidents to be impeached, via compromise…

119 Congressman Camp Proposes Tax Reform to Simplify Code, Lower Rates and Promote Growth

Cyclical recessions and recoveries come and go.  That’s the nature of a market economy.  Unfortunately, the current recovery under the Obama presidency is distinguished for its status as the most sluggish in recorded U.S. history.  That’s not by coincidence, but rather the consequence of his growth-killing bigger-government…

120 New Worldwide Index Reveals Value of Intellectual Property to U.S. Prosperity

It’s no secret that America’s economy has continued to stagnate throughout Barack Obama’s tenure.  Despite the fact that the last recession officially ended almost five years ago in June 2009, U.S. economic growth has averaged just 2.1% since that time.  That’s substantially below the 70-year postwar average of 3.…

 
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In what year did Congress pass a law that requires voter identification to register to vote in federal elections?
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Notable Quote   
 
"According to the election calendar, Joe Biden has three years remaining in his term. According to political reality, his presidency is over, kaput, finished.It ended last week because of an accumulation of serious wounds, most of them self-inflicted. The final blow came from a boomerang after the president who campaigned as a decent man and uniter declared his opponents traitors and racists.Included…[more]
 
 
—Michael Goodwin, New York Post Columnist
— Michael Goodwin, New York Post Columnist
 
Liberty Poll   

Do you believe the Biden/Schumer gambit to nuke the Senate filibuster will be successful?