04/04/2017

Ben Shapiro Takes Bernie Sanders To School With Lesson In Economics And Reality

Chris Enlo, The Blaze

Conservative commentator Ben Shapiro took Sen. Bernie Sanders (I-Vt.) to school on Twitter over the weekend after the self-described democratic-socialist senator tweeted about “income inequality.”

“38 years ago, the top 0.1% owned about 7% of our nation’s wealth. Today, that same 0.1% owns 22% of the wealth,” Sanders tweeted Saturday afternoon.

But facts may stand in the way of Sanders’ tweet. According to Shapiro, every American is more wealthy than they were 38 years ago, or in 1979. In addition, Shapiro noted that the upper middle class has grown since then.

“In 1979, life expectancy was 7 years shorter, and upper middle class was 12% of US (today 30%). We’re all richer,” Shapiro tweeted back at Sanders.

But Shapiro wasn’t done. When one Twitter user disagreed with Shapiro and said America isn’t richer and that median income has declined over the last four decades, Shapiro hit back strong.

“Except for how we have cellphones, computers, air conditioning, larger living spaces on average, you’re right,” he wrote.

Read full article



You May Also Like:

Democrats Had No Business Winning In Alabama John Podhoretz, New York Post

Republicans Have A Final Deal On Their Tax Bill — Here's What's In It Bob Bryan, Business Insider

Steve Bannon's Big Loss In Alabama Roger L. Simon, PJ Media

‘We Can’t Take That Risk’ — FBI Officials Discussed ‘Insurance Policy’ Against Trump Presidency Chuck Ross, Daily Caller

Report: Wait Times For Canada Gov. Health Care 128% Higher Than In ‘93 Bacchus Barua, Fraser Institute

The Left's 'Reverse Robin Hood' Tax Reform Narrative Is Bunk Bernie Marcus, The Hill

Illinois Drives People Away The Wall Street Journal

Double Standards And Distortions Heather Mac Donald, City Journal

Pete King Blasts ‘Disheveled Drunk’ Steve Bannon Bob Fredericks, New York Post

Report: Lawyer Caught Offering Woman $200,000 To Accuse Trump Of Sex Assault V. Saxena, Conservative Tribune

Government Should Leave Bakers Alone Ron Paul, Ron Paul Institute for Peace and Prosperity

100 Years. 100 Million Lives. Think Twice. Laura M. Nicolae, Harvard Crimson

Liberate Food Trucks [Watch] John Stossel, Townhall

While Everyone Was Distracted By Alabama Election, Senate Passed Tight Vote To Give Trump A Huge Victory Warner Todd Huston, American News Hub

Skyrocketing University President Salaries Paid For By Student Debt Brendan Pringle, Washington Examiner

As Robot Sales Increase, So Will Jobs For Humans Allan Golombek, RealClearMarkets

A New Stealth Attack In EU’s “War On Cash” Don Quijones, Wolf Street

For More go to the Home Page >>>

Join Our Email List



Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

In Search Of History

The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.12%
    FreeMarket Central Shadow Stats: 21.7%
  • Inflation:
    FreeMarket Central November Year-to-Year: 2.04% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.8%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]