Steve Fong

I want to live in a world that makes sense. Respectful. Fun. Balanced.

[Steve Fong @fonger222]

@RBReich - Yes
- No. Competition is supposed to that.
- No. Not realistic. Wouldn't mind a progressive corporate tax though
- No. When corporate buybacks happen, EPS goes up and stock price rises. That's double taxation.

[Steve Fong @fonger222]

@JimWrig08299591 @laurenboebert Yep. There's no declaring bankruptcy like all his failed businesses.
Instead, they are going to punish the little guy by reducing SS/Medicare instead of taxing the wealthy where they were before.

[Steve Fong @fonger222]

@Jim_Jordan The Right ignores all threats until it costs them money or kills them. Climate change, covid, guns, etc.

[Steve Fong @fonger222]

@GOPLeader Fails to mention FDA's role in shutting down a major factory due to health concerns.
Also fails to mention how capitalism and scale created this mess through elimination of competition. Having so few producers introduces risk, but as long as they make their money...

[Steve Fong @fonger222]

@HouseGOP @TXRandy14 Did you forget that he inherited an economy that was in the middle of a Pandemic that helicoptered money via PPP and Direct checks to the American people?
Which THEN led to inflation when the economy started to recover.
SMH

[Steve Fong @fonger222]

@carccbiggsc @SenTedCruz If we actually fixed problems, they would have no platform to run on to give the wealthy even more tax cuts while not fixing problems.
Not only that, but they also create additional problems while in office to hamstring the incoming party.
Lovely bunch they are.

[Steve Fong @fonger222]

@4HumanUnity @SenTedCruz Agree. We need money to do that, but they keep giving it back to the rich instead of fixing our immigration system.

[Aaron Reichlin-Melnick @ReichlinMelnick]

Last Friday, @CBP released border data for September, capping off Fiscal Year (FY) 2022. A lot of reporting on the data lacked key context about the the border. If you want to learn more, here's 🧵about numbers and the situation at the border.

I promise you'll learn something!

[Steve Fong @fonger222]

@RSBasatneh @SenTedCruz We could have used some of that money from TCJA in 2017 to actually fix our immigration processes. We need more judges and courts to get through the backlog. Instead, they basically inflated the stock market.

[Steve Fong @fonger222]

@HouseGOP @RepWalberg Price of oil is expensive because of Russia War and OPEC price controls. THEY control the price because their cost of production is WAY cheaper than the US.
If US produces too much, they produce more so that our corporations lose money and force us to produce less.

[Steve Fong @fonger222]

@HouseGOP @RepWalberg He literally says maximize the production of clean energy and goes straight into cutting the permitting time in half. I assume he's talking about oil, so one of those things is not true.
Also, we still are a net exporter. We are nearly at 2019 peak production levels.

[Steve Fong @fonger222]

@Dadsspook57 @GOPLeader Yep. That's why it's so cheap for OPEC. Tons of desert where there's nothing to worry about.
US has no pricing power because of this fact.

[Steve Fong @fonger222]

@GOPLeader We are on pace to have produced the second most oil in one year in the history of the US. Second only to 2019. More than 2x the amount produced in 2010.
AND there are PLENTY of unused oil leases and shuttered wells that can be reopened.
BIG OIL is enjoying big profit without risk

[Steve Fong @fonger222]

@profgalloway Wage Growth at the top at 8x rate. Accompanied by Lower Taxes for the Rich. Sprinkle in favorable Capital Gains Taxes as a multiplier. With a bit of Tax Loopholes to exploit over all that.
And you wonder why wealth inequality is growing. REALLY FAST.

[Steve Fong @fonger222]

@atrupar Can someone make a little boxing glove come out of the side of the screen and punch him in the face when he says something stupid? And his face would look more and more like a boxer cartoon.
He'd be knocked out in 30 seconds every clip.

[Steve Fong @fonger222]

@JohnF1CDO @HouseGOP @GOPLeader And that's what's wrong with OPEC. Add a bunch of those together - ALL with cheap production costs - and you get a LOT of pricing power.
Producing in the US is VERY expensive compared to OPEC. Thus, we have the most risk and BIG OIL just sitting on unused leases. AND HUGE profits

[Steve Fong @fonger222]

@HouseGOP @GOPLeader With hurting the Democrat's chances being the icing on the cake, because that's going to help them achieve several additional years of outsized profits.
At the expense of the climate.

[Steve Fong @fonger222]

@HouseGOP @GOPLeader We're almost up to our 2019 levels of production of oil right now. And oil amassed lots of leases during the Trump era prior to Biden ending new lease sales on federal land.
Big Oil is enjoying record profits without lifting a finger.

[Steve Fong @fonger222]

@matthewjdowd On FiveThirtyEight, Dems odds keep dropping in House and Senate.

[Steve Fong @fonger222]

@AdamKinzinger We've got to expose dark pools of money. Peter Thiel is spending like a drunken sailor, so he can actually spend more like a drunken sailor.