{"id":13948,"date":"2016-08-12T20:43:59","date_gmt":"2016-08-13T00:43:59","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13948"},"modified":"2016-08-12T20:43:59","modified_gmt":"2016-08-13T00:43:59","slug":"lies-politicians-tell-us-hoover-institution","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/12\/lies-politicians-tell-us-hoover-institution\/","title":{"rendered":"Lies Politicians Tell Us | Hoover Institution"},"content":{"rendered":"<p>Great insights from Allan H. Meltzer at the Hoover Institution:<\/p>\n<blockquote><p>\nMost of us learn at some point that politicians tell lies. We expect them to stop once they hold office or to face the consequences. In the past, politicians that violated the public trust resigned, most notably President Richard Nixon. Other lesser officials have also been punished for abusing public trust. No longer. In campaigns, and in office, politicians and their aides or supporters deliberately lie about matters of importance. <\/p>\n<p><a href=\"http:\/\/www.hoover.org\/research\/lies-politicians-tell-us\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/www.hoover.org\/sites\/default\/files\/research\/images\/unnamed_3_1.jpg?w=525\" alt=\"\" \/><\/a> <\/p>\n<p>&#8230;.The Obama administration lied to change a major foreign policy issue. Other lies are about less important but not unimportant issues. The French economist Thomas Piketty claimed that capitalism squeezes the middle and lower classes to favor the rich. Piketty\u2019s book Capital in the Twenty-First Century and other studies that followed supported that argument by relying on deceptive data\u2014specifically, income before taxes and transfers. Critics pointed out that the case is much weaker if income after taxes and transfers is used, as it should be. That\u2019s much closer to the receipts that people have. And the differences are large. Transfers that are not part of income before taxes amount to more than $1 billion annually. The top 20 percent of taxpayers paid 84 percent of all income taxes in recent years. And the derided top 1 percent paid 23.5 percent of the income tax.The failure to use income after taxes and transfers cannot be accidental. It seems to be a deliberate attempt to mislead the public. And it is not the only misuse of data. Much of the recent large rise in the income received by the top 1 or 10 percent results from the Federal Reserve\u2019s policy of lowering interest rates and raising housing and stock prices.<\/p>\n<p>&#8230;..Hillary Clinton proclaims almost daily that women receive only 78 percent of the income that men receive. Her message is so misleading as to be dishonest. The 78 percent number is the ratio of women\u2019s to men\u2019s median pay. It does not adjust for occupational and other differences in the work that men and women do. For example, skilled neurosurgeons and football, baseball, and basketball stars are men. Domestic workers and hospital cleaning crews are mainly women. A recent paper by Diana Furchtgott-Roth summarized studies at Cornell and other quality economic departments. When adjustment for occupational differences are considered, the ratio is 92 or 94 percent, not the advertised 78 percent. And the remaining difference may not be due to discrimination. Differences in time in the work force, hours worked, and other factors may play a role.<\/p>\n<p>&#8230;.These are just a few examples of lies and misleading statements that we encounter every day. Clinton lies frequently and Trump shouts a falsehood a day\u2014and probably more\u2014as a major part of his campaign. This is not what citizens of a free country should expect and demand.<\/p>\n<p>&#8230;.Free societies require truth and honesty.<\/p><\/blockquote>\n<p>Worth reading the entire article at: <a href=\"http:\/\/www.hoover.org\/research\/lies-politicians-tell-us\">Lies Politicians Tell Us | Hoover Institution<\/a><\/p>\n<p><em>Hat tip to David Kotok<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Great insights from Allan H. Meltzer at the Hoover Institution: Most of us learn at some point that politicians tell lies. We expect them to stop once they hold office or to face the consequences. In the past, politicians that violated the public trust resigned, most notably President Richard Nixon. Other lesser officials have also &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/08\/12\/lies-politicians-tell-us-hoover-institution\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lies Politicians Tell Us | Hoover Institution&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57],"tags":[],"class_list":["post-13948","post","type-post","status-publish","format-standard","hentry","category-stock-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lies Politicians Tell Us | Hoover Institution - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lies Politicians Tell Us | Hoover Institution - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Great insights from Allan H. Meltzer at the Hoover Institution: Most of us learn at some point that politicians tell lies. We expect them to stop once they hold office or to face the consequences. In the past, politicians that violated the public trust resigned, most notably President Richard Nixon. 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But they make it difficult for taxpayers to figure out how they\u2019re getting robbed by concentrating a\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5877,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/10\/29\/the-keynesian-path-to-fiscal-irresponsibility-dwight-r-lee\/","url_meta":{"origin":13948,"position":2},"title":"The Keynesian Path to Fiscal Irresponsibility &#124; Dwight R. Lee","author":"Colin Twiggs","date":"October 29, 2012","format":false,"excerpt":"With the ideological shift, supported by the intellectual acceptance of Keynes\u2019s General Theory, politicians found themselves with an excuse to do what most had always wanted to do -- take more money from the general public and transfer it to favored groups (or voting blocs). The benefits are invariably less\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14373,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/10\/20\/the-way-of-the-magpie-know-your-enemy-dont-bother-fighting-them\/","url_meta":{"origin":13948,"position":3},"title":"The way of the magpie: Know your enemy, don&#8217;t bother fighting them","author":"ColinTwiggs","date":"October 20, 2016","format":false,"excerpt":"Harold Mitchell wishes that politicians would stop throwing mud at each other: .....The great Sir Robert Menzies never mentioned Labor leader Arthur Calwell by name with that wonderful plummy accent of his. He would occasionally refer to the \"leader of the opposition\" but only if he really had too. But\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6160,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/13\/richard-fisher-politicians-need-to-get-their-act-together\/","url_meta":{"origin":13948,"position":4},"title":"Richard Fisher &#124; Politicians need to get their act together","author":"Colin Twiggs","date":"November 13, 2012","format":false,"excerpt":"Texas Fed President, Richard Fisher believes fiscal authorities need to get their act together. \"There is a limit to what we can do. We can't have a Buzz Lightyear monetary policy: to infinity and beyond.\" [gigya name=\"cnbcplayer\" PLUGINSPAGE=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" allowfullscreen=\"true\" allowscriptaccess=\"always\" bgcolor=\"#000000\" height=\"380\" width=\"400\" quality=\"best\" wmode=\"transparent\" scale=\"noscale\" salign=\"lt\" src=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/3000129200\/code\/cnbcplayershare\" type=\"application\/x-shockwave-flash\"] Fisher's\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15082,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/02\/politicians-addicted-to-the-polls\/","url_meta":{"origin":13948,"position":5},"title":"Politicians addicted to the polls","author":"ColinTwiggs","date":"April 2, 2017","format":false,"excerpt":"From Ross Gittins: I realised the Australian government was fast approaching peak fake when I read Laura Tingle of the Financial Review's revelation that Malcolm Turnbull's Snowy 2.0 announcement was timed to favourably influence the imminent fortnightly Newspoll result. When our leaders progress from being mesmerised by opinion polls to\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13948"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13948\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}