Factually Wrong: Post from We Are Capitalists

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2 thoughts on “Factually Wrong: Post from We Are Capitalists

  1. My response on the thread where I first read it:

    1) Entertainment Industry vs. Oil Industry: So what. I believe the concept is “two wrongs don’t make a right.” If you want to discuss something, discuss relevant facts, not irrelevant comparisons.

    2) Same principle as above. So what if the Rich pay more of their income in absolute or percentage terms? The argument regarding the payment differential includes much more than this (including ethics). This is a simplistic argument that (again) doesn’t address the point being made by those making the Rich/Secretary comparison.

    3) Not only is Warren not limiting her comment to the “housing market crash” but there are any number of other non-Conservative organizations (check out NBER’s funding sources) with reports to dispute this conclusion. Furthermore, that the NBER report supports a particular conclusion, does NOT mean that this conclusion is “confirmed.”

    To some up, whether or not Warren is wrong, this particular criticism is a bunch of half-assed illogical bullpucky.

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    • 1) The issue is whether industry profits are “wrongs” at all. Oil and entertainment are just examples – one industry provides an essential product, the other is a luxury.

      2) “Billionaires pay a lower tax rates than their secretaries” is exactly a claim they pay less in percentage terms.

      3) Good point on this one. There are a lot of theories about what causes economic problems, but they’re exactly that.

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