Well, There They Go Again

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Unleash Prosperity Hotline
Issue #1037
06/11/2024
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1) "Well, There They Go Again"
We’d have thought the New York Times might have learned SOMETHING about how supply-side economics work after all these years. Instead, they ran with this almost comical headline on their front page over the weekend:

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This reminded us of when Reagan was President and the media and Liberals hysterically warned that his tax cuts would make inflation worse.

The Washington Post predicted that the Reagan tax cuts would be "dangerously inflationary." ([link removed]) Paul Krugman and Larry Summers - two of the Democrats’ favorite economists - warned of a Reaganomics "inflation time bomb." ([link removed]) Jimmy Carter called the Reagan plan "one of the most highly inflationary ideas ever presented to the American people." ([link removed])

Instead of course, we had under Reagan one of the most rapid periods of disinflation in history - from 11% before the tax cut to 4% after the tax cut.

As Larry Kudlow put it in a New York Sun article: "When marginal tax rates were slashed under JFK, Reagan, and Trump, inflation never uttered a serious peep."

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As for the claim that Trump will cause runaway inflation, The New York Times seems to have suppressed from their memory that Trump already WAS President. The inflation rate was one of the lowest of any President in modern times - while Biden’s has served up one of the highest rates in modern times. So how could a Trump victory be worse for inflation than a Biden re-election?

The Times even made up statistics and resorted to historical revisionism.

For example, The Times writes: "during the Covid-19 pandemic and its aftermath, prices rose much faster."
Wrong. There were almost no price rises during the height of the pandemic and when Trump left office inflation was only 1.4%. That’s BELOW the Fed target. Prices started skyrocketing AFTER Biden was elected, not before.

The Times gets so confused in its analysis that in the very same article the authors argue that Trump's tariffs would raise inflation, but his "deep" personal income tax cuts would also raise inflation. These people are either deeply confused about economics or they suffer from Trump Derangement Syndrome. Or both.
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2) Biden Voters Say No to Marriage and No to Children
We're not sure why these latest Pew polling results disturb us so much.

But the fact that only two of ten Biden voters think that getting married and having kids are important could hardly be more demented. Even more astonishing is that only one in twelve Biden voters with a college degree think society should prioritize families. (No doubt they think we should prioritize government instead.) These are supposed to be smart people.

We now have half the country that doesn't believe in propagating the human race. The only silver lining is that it's the leftwingers that don't want to reproduce.

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3) eBay Founder on Mission To Destroy Capitalism
It's hard to think of a purer success of American capitalism than the auction site eBay, so it's especially disappointing that its founder, Pierre Omidyar, has become the principal funder of a scheme to subvert American capitalism. He wants to use the Biden administration’s supercharged antitrust apparatus to make it happen.

The Daily Wire reports:

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In September 2020, the Omidyar Network, the activism vehicle of former eBay chief Pierre Omidyar, issued a “Call to Reimagine Capitalism in America,” bemoaning “structural racism, colonialism, paternalism,” and proposing to build “an explicitly anti-racist and inclusive economy.”

Omidyar was spending millions of dollars, largely funneled through dark money groups, to put Joe Biden in the White House. After his election victory, one of Omidyar’s groups, called Reset, explained how it would use the Biden presidency to implant its people to pursue its goals, specifically targeting agencies it believed had sway...

Three years later, the France-born Omidyar has succeeded to an extent seldom seen, with a vast swath of top FTC posts going to people who worked for his “constellation” of groups — and sometimes continued to do so even as they joined the federal government...

A Capital Research Center (CRC) probe fashioned Omidyar as the new version of liberal mega-donor George Soros. His massive partisan activities have flown under the radar because he prefers to influence politics through ostensible charity groups rather than direct campaign contributions. The Omidyar Network says it has paid out more than $1.86 billion to build more inclusive and equitable societies.”

Omidyar's giving is not limited to expressly left-wing groups. He is also the principal funder of Oren Cass's American Compass, which pushes the same big government policies on the right.
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4) The Final and Definitive Ruling on Masks: They Don’t Work

The gold standard of evidence-based medicine, the Cochrane Collaborative, came under withering assault from the mask-mandaters when they updated their review last year and concluded there was still no evidence that masks mandates are effective at reducing the spread of respiratory viruses including SARS-CoV2, the virus that causes COVID-19.

New York Times columnist and lead mask propagandist Zeynep Tufekci got the editor-in-chief of Cochrane, Karla Soares-Weiser, to issue a bizarre statement saying, in essence, that even though mask mandates didn't work maybe perfectly worn masks could have some positive effect. This provided an alibi for media and government figures to pretend the Cochrane review had been retracted. Now Soares-Weiser has quietly amended her post to say the original study and its null conclusion will stand:

June 2024 update: Following engagement with the authors, the decision has been made that changes to the plain language summary and abstract would not impact the scientific integrity of the content and so Cochrane is no longer seeking updates to the plain language summary and abstract of this version of the review. Full details are available in a comment from the Editors of the Cochrane Library on the Cochrane review.

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5) CTUP Senior Fellows Debunk Key Climate Lies
In yesterday's HOTLINE we reported on the collapse of Green parties in this weekend’s European Union elections, with their total number of seats in the EU Parliament falling by a full 25 percent.

One reason is that Green propaganda isn’t working as well in Europe as it used to, especially as massive subsidies for everything from wind and solar power to heat pumps wind up creating problems for consumers and soaring energy bills.

In the piece below, CTUP fellows John Fund and David Simon refute the four lies that the Left uses to peddle their authoritarian climate controls:
* The ‘Existential Threat’ Lie
* The ‘Economy at Risk’ Lie
* The ‘More Powerful and Destructive’ Natural Disasters Lie ● The ‘Rising Sea Levels’ Lie

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6) "The Closer"

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