When it Comes to Views on the Economy, Republicans are on Venus and Democrats are on Mars

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Unleash Prosperity Hotline
Issue #941
01/24/2024
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1) When It Comes to Views on the Economy, Republicans Are on Venus and Democrats Are on Mars
This chart from the New York Times fascinates us. When Obama was in office in 2015 and 2016, Democratic voters generally rated the economy as good and Republican voters rated the economy as very bad. When Trump was President the party ratings on the economy reversed. Then under Biden, the Democrat vs Republican divide flipped again.

As the Times summarized: “When a Republican is in the White House, Democrats tend to take a more negative view of the economy. And vice versa.”

But what’s weird is that the Times conclusion is: “Republicans react much more strongly to a president from the opposite party than Democrats do. That disproportionately affects the national mood during this Democratic administration.”

But this is completely misleading because the economy really did underperform under Obama and has been generally rotten under Biden (until recently). And the economy really did boom under Trump until COVID-19 hit.

So, yes, there is clearly a partisan split, but in general, Republican voters’ ratings tend to more closely match the REAL state of the economy, and Dem voters’ ratings more closely reflect how they WISH the economy would perform.

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2) Want a Job? Go to a Red State
One oddity of the chart above, showing that Democrats rate the economy as good and Republicans rate the economy as lousy, is that the economy is much better in the red states than the blue states. This chart shows that in the three years since COVID ended, nonfarm payroll jobs have rapidly expanded in the red states – led by Florida, Texas, Nevada, Utah, and Idaho – which are all 8.5% or more ABOVE their re-lockdown levels. But there are 10 states that still have not recovered all their pre-COVID jobs. And most of them are BLUE states.

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3) Left's New Anti-Energy Play: Suing Local Gas Stations As "Big Oil”
The climate crazies and their trial lawyer friends have a new strategy for global warming lawsuits. They can’t win their nuisance lawsuits in federal court, so they want to sue in state courts. To do so, they have to target small local businesses, like independently-owned gas stations.

The Free Beacon reports:

Last summer, the leaders of Multnomah County—the liberal Oregon enclave that includes most of Portland—filed a high-profile lawsuit seeking $1.5 billion in damages from the world's top oil and gas producers...

One defendant included in the county's complaint, Space Age Fuel, is not among "the world's largest oil companies."

"Space Age is a small, family-owned and operated Oregon business. I started the company with my father, Hal Pliska, in 1982," Pliska said in his declaration. "Space Age is an independent marketer and seller of fuel products."...

Should Multnomah County succeed in its effort to argue its suit in state court, the precedent could hurt everyday Americans who rely on local gas stations. Attorneys behind the climate suits can earn millions if they're successful, providing plenty of incentive to target local companies with expensive litigation.

The lawsuit is especially absurd because to win in court, you have to show some kind of “harm” from the actions of the defendants. How can producing and delivering low cost and reliable energy be a harm to the residents of Multnomah County?

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4) The "Patriotic Millionaires” are Back with Their Hypocritical “Tax the Rich” Campaign
It’s been nine months since CTUP crashed a news conference on Capitol Hill where a group of “Patriotic Millionaires” called for a 90 percent top tax rate.

When we suggested that these “patriots” voluntarily pay the higher tax rates the group was proposing, they indignantly declined. Their hypocrisy was exposed for all to see: they want other people to pay taxes, but not themselves.

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So we broke out in laughter when these same "Patriotic Millionaires" resurfaced last week at the World Economic Forum in Davos. In an open letter, the group issued a demand to Davos delegates:

“When will you tax extreme wealth? Not only do we want to be taxed more but we believe we must be taxed more.”

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Not only are they hypocrites, they’re factually wrong.

In the United States, the richest 1% of taxpayers paid 42% of all federal individual income taxes in 2020. The top 5% percent of income-earners paid 63% of income taxes.

The best way to get more tax revenues from the rich is through pro-growth policies that create more rich people.

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5) Jamie Dimon Continues To Tell His Woke Liberal Friends to Wake up to Reality
JPMorgan Chase CEO Jamie Dimon – no friend of Republicans or Donald Trump – once again delivered a blistering attack against the real-world effects of progressive governance. While in San Francisco hosting the world’s biggest health care, conference he launched a tirade full of simple truths about the tragic decline of America’s great cities:

“San Francisco is in far worse shape than New York,” Dimon told Fox Business. “Any city that doesn’t do a good job, will lose its population. Just tax more and more - it doesn’t work.” Dimon has been reading U.S. Census reports which report San Francisco lost 7.5% of its population during COVID — leading all large U.S. counties in terms of its rate of exodus.

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But Dimon also attacked the craziness in New York, where JP Morgan Chase has its corporate headquarters.

“New York’s got to worry about the fiscal [situation],” Dimon said. “You can’t have a fiscal deficit that high where you are constantly taxing individuals and companies more and more, where the bulk of the tax is paid by a handful of people. It’s driving people out.”

We’re pleased to learn that somebody must be secretly slipping the Hotline to Jamie every morning.

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6) Moving to a Safer Location

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