Three distinct tax-the-rich proposals are being promoted by Democrats in Congress. Rather than provide a balanced look at those proposals and their potential impact, CNBC.com boosted the calls to raise taxes on the wealthy. A 9-minute, 37-second video published Feb. 8, cited the different “tax the rich” proposals of Rep. Alexandria Ocasio-Cortez, D-N.Y., Sen. Elizabeth Warren, D-Mass., and Sen. Bernie Sanders.
Sen. Elizabeth Warren, D-Mass., defended her call for an “ultra-millionaires” annual wealth tax as “how the system is supposed to operate,” and “part of the social contract” of America in a CNBC interview.
Wait, since when did wealth redistribution and punishing the wealthiest by instituting a new tax to take $2.75 trillion away from them for what they’ve accumulated become part of the “social contract” of the U.S.?
Freshman Rep. Alexandria Ocasio-Cortez, D-N.Y., has many policy ambitions, among them she floated the idea of hiking the top tax rate to a whopping 70 percent to pay for a “Green New Deal.”
Although a chorus of media liberals defended and even applauded the socialist’s “soak the rich” suggestion, some high-profile economists opposed it because it would harm the economy. A CNBC reporter also found that even that tax hike wouldn’t come close to paying for a Green New Deal scheme.
The December jobs report crushed expectations on Jan. 4, with 312,000 jobs added, a strong participation rate, wage gains and two months of upward revisions. That was 136,000 jobs more than expected.
With one week to the midterm elections, the Conference Board released its latest survey of consumers showing their confidence soared to an 18-year high and also found high expectations for early 2019. This might well surprise many news consumers given how little effort the media have spent reporting on the good economy.
Federal Reserve chairman Jerome Powell expressed optimism about the “extraordinary times” for the U.S. economy right now at an event with business economists on Oct. 2.
Powell said, “The economy is strong, unemployment is near 50-year lows, and inflation is roughly at our 2 percent objective, and the baseline outlook of many forecasters in and outside the Fed is for more of the same.”
Well. This has been an interesting media week, yes? The liberal “mainstream” media just exploded on Judge Brett Kavanaugh and his nomination to be a Supreme Court Justice. But there’s something very curious here. Take the case of liberal Democratic Senator from Ohio Sherrod Brown.
Authoritarian governments are known for having a boot on the neck of freedom. CNBC’s on air editor Rick Santelli said the Obama administration had a "boot on business." Santelli was rumbling with former Obama official and Brookings Institution economist Aaron Klein over taxes, spending and whether the Obama administration enacted “pro-growth” economic reforms.
Despite the recent hype in the mainstream media about teens supposedly hacking state election systems, CNBC tossed cold water on that fake news with a reality check with a ProPublica article. It turns out the students were coached on what to do in look-alike sites that differed from the actual state election sites.
Far-left Democratic Sen. Elizabeth Warren has a new plan to regulate the largest businesses and some in the media helped promote it. She published a Wall Street Journal op-ed about her new legislation, the “Accountable Capitalism Act,” on Aug. 14. The very next day, Mad Money host Jim Cramer interviewed Warren about her “Novel way to reward the stakeholders of the enterprise.” He also called the op-ed “incredibly provocative.”
As several major state primary elections closed last night, with results that bucked the liberal media’s anti-Trump narrative, several journalists still clung in desperation to their hope that despite the GOP wins, they would lose to Democrats in the midterms this Fall.
CNBC’s Squawk on the Street and Bloomberg.com viewed the latest U.S. GDP report as good news for the Trump administration. The 4.1 percent second-quarter GDP estimate announced July 27, was the best quarterly pace in almost four years. Bloomberg.com called it a “Win for Trump” that same day.