How the government works...
The King wanted to go fishing, and he asked the royal weather forecaster for the forecast for the next few hours. The palace meteorologist assured him that there was no chance of rain.
So the King and the Queen went fishing. On the way, he met a man with a fishing pole riding on a donkey, and he asked the man if the fish were biting.
The fisherman said, "Your Majesty, you should return to the palace! In just a short time I expect a huge rain storm."
The King replied: "I hold the palace meteorologist in high regard. He is an educated and experienced professional. Besides, I pay him very high wages. He gave me a very different forecast. I trust him."
So the King continued on his way.
However, in a short time, a torrential rain fell from the sky. The King and Queen were totally soaked. Furious, the King returned to the palace and gave the order to fire the meteorologist.
Then he summoned the fisherman and offered him the prestigious position of royal forecaster.
The fisherman said, "Your Majesty, I do not know anything about forecasting. I obtain my information from my donkey. If I see my donkey's ears drooping, it means with certainty that it will rain."
So the King hired the donkey.
And so began the practice of hiring dumb asses to work in influential positions of government. The practice is unbroken to this day.
ONE THING Republican voters need to understand.
By January 2029, President Trump could potentially issue sweeping pardons before leaving office. Whether that includes family members, members of his administration or others remains to be seen. The constitutional question of whether a president can pardon himself remains unresolved.
But here's the bigger political reality.
President Trump will leave office. YOU will still live with the consequences of what happens while he's there.
Whether Republicans maintain control of Congress in November or lose it, President Trump will finish his term. The question is whether he has the congressional support to advance his agenda or spends his remaining time fighting political gridlock.
This cycle has repeated itself for decades. One party gains power, the other obstructs, voters become frustrated, and the pendulum swings again.
So why not try something different?
Give President Trump a Republican-controlled Congress for the remainder of his term. Give him the legislative support to pursue his agenda. Then, in 2028, judge the results.
If his Presidency fails to deliver, voters can make that judgment at the ballot box.
But don't sit out the midterms thinking you're punishing politicians. You're also giving up your say in the policies that affect your family, your finances and your future.
PRESIDENT TRUMP HAS TWO YEARS LEFT. MAKE THEM COUNT.
On November 3rd, get off the sidelines.
VOTE REPUBLICAN. KEEP CONGRESS. GIVE THE AGENDA A CHANCE TO SUCCEED.
Then judge the results in 2028.
@RBReich, how can an economist be this wrong about the economy?
You walked into my classroom with a six-minute video and a claim that the billionaire class is going all-in for Trump and the GOP so they can avoid paying their "fair share." Pull up a chair. I've got a red pen, a planning period, and a list of reasons this argument has more holes than a screen door on a submarine.
First the video. Jeff Bezos says you could double the taxes he pays and it still wouldn't help that teacher in Queens. You and Zucman treat it like a gotcha. It's not. Bezos can structure things so he reports little or no taxable income in a given year—no salary, no dividends, no realized gains. That's legal under the rules Congress wrote. Doubling zero is still zero. The fix isn't a new tax on paper stock he hasn't sold. It's closing the holes the people in Washington keep leaving open. Trying to reason with this framing is like trying to baptize a cat.
Then the big number: the richest 0.00001% of Americans—19 households—hold the equivalent of 14% of U.S. GDP in wealth, roughly $4 trillion.
Professor, I teach this exact mistake to fifteen-year-olds in the first week of physics. GDP is a rate. Dollars per year. Wealth is a stock. Dollars sitting there. Comparing the two is like saying your car has driven 150,000 miles and calling that 2,500 times the speed limit. It sounds scary. It means nothing. All the homes in America are worth more than one year of GDP. All the retirement accounts are too. That doesn't make Grandma's 401(k) a crisis. Your units are scrambled like a breakfast buffet at a cheap hotel. If one of my freshmen turned that in, I'd circle the units in red, write "SEE ME," and give him a chance to fix it. An economist who mixes a stock with a flow is more confused than a chameleon in a bag of Skittles.
You also say billionaires went from 1% of campaign spending in 2000 to 19% in 2024, and that's why the tax code is rigged. The top income-tax payers already pay the large majority of the federal income tax. The people who write the code sit in Congress. They draw the line one inch above their own heads every time, then act shocked when the people below it notice. In 1913 the income tax was a tiny levy on a handful of rich men. They swore it would never touch the working man. Go look at your paycheck stub and tell me how small it stayed. You speak an infinite deal of nothing on this one.
Zucman's proposal is a 2% minimum tax on net worth above $100 million. If someone is already paying the equivalent of 2% of their wealth in taxes, they owe nothing more. Only the ones "not paying their fair share" get hit.
"Fair share" is doing a lot of work there. France, Sweden, and Germany tried wealth taxes. They exempted the big shareholdings or valued them at a fraction of reality, then watched the money leave and the revenue disappoint. They backed out. Your video says the new version fixes that by having no exemptions. Europe already tried versions of that. The capital still left, or the valuation fights ate the revenue, or both. California is watching the same movie with Prop 40—people and assets already moving before the vote. You can't tax a moving truck. You can only wave at it. This plan is about as useful as a solar-powered night light. Or a screen door on a spaceship. Or training wheels on a tank.
And the political claim. Some billionaires are backing Trump and the GOP. Elon Musk put real money behind it in 2024. Others put real money behind Democrats—Bloomberg, Moskovitz, Hoffman, and the rest of the usual list. Both sides get checks. The difference is which set of policies those donors think will leave them with more capital and more room to build. That's not a conspiracy. That's incentives. When the tax, the regulation, and the energy policy make the next factory or the next headquarters more expensive in one place than another, the headquarters move. Texas and Florida noticed. San Francisco noticed too. You're all hat and no cattle on the "billionaires only support Republicans" line.
Here's the part that still bothers me as a veteran. Washington can find the will for a 2% tax on paper wealth "so the rich pay their fair share," but it still hasn't found the $10 billion over ten years for the Major Richard Star Act so combat-wounded, medically retired soldiers stop having their retirement docked dollar-for-dollar against their disability pay. That's about a billion a year. Pocket lint next to the numbers in your video. I'm one of those medically retired soldiers. The government that broke us still takes it back every month. If the fight is about greed, start with the greed coming out of a wounded vet's check.
My standing offer still holds. I keep hearing people with nine-figure households and book royalties yell "tax the rich" while they know every loophole and use the ones they wrote. File with the standard deduction. No itemizing. Pay double what the IRS says you owe and post the return. Then I'll sit still for the sermon on fairness. Until then you're the human version of a buffering wheel that never finishes.
Quinn's Law #1: liberal policies always do the opposite of what they promise. You want more revenue for schools, healthcare, and infrastructure, so you write a tax that chases the people who create the jobs and the taxable income to other states. The money doesn't stay. The companies don't either. The brain is an amazing organ. It starts working in the womb and doesn’t stop until you get elected to Congress—or apparently until you become a former Labor Secretary selling this.
But what do I know? I'm only a science teacher in a high-need district in Northeast Ohio, a retired Army combat medic, and a father of four who noticed that an economist who can't tell a stock from a flow is about as useful as a waterproof sponge in a rainstorm.
@TPUSA #MAGA #Veterans #Trump
Denmark's Foreign Minister Lars Løkke says Trump's deal for 300,000 tons of Russian diesel is 'regrettable' because it gives Russia revenue.
The EU bought 12.18 MILLION tonnes of Russian LNG this year alone, about €7.9 billion.
That's 40 times more. Maybe start at home, Lars.
@XsaviorTheo@Freebird_tweet Canada is like a pretty woman's butt. Left cheek: Pretty mountains, nice people. Right cheek: Pretty coastal, nice people, great seafood. In the middle, where the sun don't shine and it stinks the most is where Ottawa and Ontario rule.
New James Madison Institute poll: Amendment 3 is at 63% among likely voters. It needs 60% to pass. Homestead exemption to $150K in 2027 and $250K in 2028. Let's keep it there. Vote YES on 3 and bring a neighbor.
Need another reason to vote YES on Amendment 3?
Margate commissioners voted to raise their combined salaries from $202,297 to $225,000 and DOUBLE their car allowance.
Where are Blaise Ingoglia (@GovGoneWild) and Florida DOGE, and why hasn’t anyone been held accountable for wasteful spending?
Florida voters approved a government efficiency task force in 2006. It took nearly 20 years to start talking about millions wasted by local governments.
So much for government efficiency.
I'm voting Yes on Amendment 3 in Florida. The claim that it will hurt law enforcement and fire rescue is false. The truth is that Democratic officials don't want to shut off the gravy train of taxpayer money flowing to their friends' nonprofits.