What coverage did ABC, CBS,NBC cover the Republican Convention. Last day.
ABC, CBS, NBC ,Plans to cover Democratic National Convention every night.
Does This Not reflect Media in China is strictly controlled and censored by the CCP, with the main agency that oversees the nation's media being the Central Propaganda Department of the CCP.
Democratic state and federal officeholders, including President Joe Biden, delivered some false, misleading or lacking-key-context claims on the first night of the Democratic National Convention on Monday.
Speaking earlier in the night, Sen. Dick Durbin of Illinois denounced former President Donald Trump for having presided over a loss of jobs without mentioning the critical context that the losses occurred because of the Covid-19 pandemic that caused a global economic crash. A video played at the convention similarly left out important context on the respective job-related records of the Trump and Biden-Harris administrations.
Michigan state Sen. Mallory McMorrow falsely claimed that the Supreme Court has made Trump “completely immune from prosecution,” significantly overstating the court’s recent ruling.
And Rep. Robert Garcia of California misleadingly described Trump’s widely criticized 2020 comments about the possibility of scientists studying the use of injected disinfectant as a Covid-19 treatment, wrongly saying Trump had instructed Americans to inject bleach.
Biden on taxing billionaires
During his speech, Biden asked the audience if they knew what the average billionaire in the United States pays in taxes.
“We have a thousand billionaires in America. You know what the average tax rate they pay? 8.2%,” Biden said.
Facts First: Biden used this figure in a way that was misleading. As in previous remarks, including his State of the Union address in March, Biden didn’t explain that the figure is the product of an alternative calculation, from economists in his own administration, that factors in unrealized capital gains that are not treated as taxable income under federal law.
There’s nothing inherently wrong with the alternative calculation itself; the administration economists who came up with it explained it in detail on the White House website in 2021. Biden, however, has tended to cite the figure without any context about what it is and isn’t, leaving open the impression that he was talking about what these billionaires pay under current law.
So, what do billionaires actually pay under current law? The answer is not publicly known, but experts say it’s clearly more than 8%.
“Biden’s numbers are way too low,” Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center at the Urban Institute think tank, told CNN in 2023. Gleckman said that in 2019, University of California, Berkeley, economists Emmanuel Saez and Gabriel Zucman “estimated the top 400 households paid an average effective tax rate of about 23% in 2018. They got a lot of attention at the time because that rate was lower than the average rate of 24% for the bottom half of the income distribution. But it still was way more than 2 or 3,” numbers Biden has used in some previous speeches, “or even 8%.”
NO MENTION OF Forbes list of the world's highest-paid athletes
https://en.wikipedia.org/wiki/Forbes_list_of_the_world%27s_highest-paid_athletes
Dwayne Johnson. Dwayne Johnson, also known as “The Rock,” is the highest paid actor in the world, earning an impressive $87.5 million.
O'Donnell's salary in 2024 is estimated at $8 million annually. This substantial income stems from her role as the anchor of CBS Evening News and her contributions to 60
Salary. Lester Holt takes on many roles at NBC. For acting as the news anchor for "NBC Nightly News," "Dateline NBC," and other projects within the network, Lester earns a salary of $10 million per YEAR
As of 2024, David Muir has a net worth of 39 million. He earns a $5 million salary annually as the anchor of World News Tonight on ABC News.
Gayle King CBS King's career as a journalist officially began in 1976, and in the time since she's managed to amass a reported net worth of $40 million. From 2014 to 2019, her salary at CBS was $5.5M (or $30M gross earnings during this time), but before the COVID-19 pandemic struck, the philanthropist is making $11M annually.
Oprah Winfrey/Net worth
3 billion USD
Aug 2, 2024 — Jay Leno is an American comedian, actor, writer, producer, and former late-night television host who has a net worth of $450 million
Stephen Colbert is an American comedian, writer, actor, author, and talk show host who has a net worth of $75 million.
In February 2024, Gleckman provided additional calculations from the Tax Policy Center. The center found that the top 0.1% of households paid an average effective federal tax rate of about 30.3% in 2020, including an average income tax rate of 24.3%.
ENOUGH OF THIS CHECK OUT AND VALIDATED AT THIS SITE.
https://www.cnn.com/2024/08/19/politics/fact-check-night-one-democratic-national-convention/index.html
CHECK THIS OUT
Jul 19, 2024 — Chinese investors dump a record $42.6 billion in U.S. stocks and bonds as the 2024 presidential election nears.
Could the FDIC run out of money?
Still, the FDIC itself doesn't have unlimited money. If enough banks flounder at once, it could deplete the fund that backstops deposits.
Why Socialism Always Fails.
https://www.aei.org/carpe-diem/why-socialism-always-fails/
Given the recent resurgence of socialism, especially as it is now being embraced by young Americans, I thought it might be a good time to re-visit A 1995 essay to review why socialism: a) failed in the 20th century, b) is failing in the 21st century (e.g. Venezuela, see photo BELOW), ) will always fail. And that’s because it’s a flawed system based on completely faulty principles that aren’t consistent with human behavior and can’t nurture the human spirit.
1. Socialism is the Big Lie of the twentieth century. While it promised prosperity, equality, and security, it delivered poverty, misery, and tyranny. Equality was achieved only in the sense that everyone was equal in his or her misery.
In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism may show early signs of success. But any accomplishments quickly fade as the fundamental deficiencies of central planning emerge. It is the initial illusion of success that gives government intervention its pernicious, seductive appeal. In the long run, socialism has always proven to be a formula for tyranny and misery.
A pyramid scheme is ultimately unsustainable because it is based on faulty principles. Likewise, collectivism is unsustainable in the long run because it is a flawed theory. Socialism does not work because it is not consistent with fundamental principles of human behavior. The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives.
In a capitalist economy, incentives are of the utmost importance. Market prices, the profit-and-loss system of accounting, and private property rights provide an efficient, interrelated system of incentives to guide and direct economic behavior. Capitalism is based on the theory that incentives matter!
Under socialism, incentives either play a minimal role or are ignored totally. A centrally planned economy without market prices or profits, where property is owned by the state, is a system without an effective incentive mechanism to direct economic activity. By failing to emphasize incentives, socialism is a theory inconsistent with human nature and is therefore doomed to fail. Socialism is based on the theory that incentives don’t matter!
2. The strength of capitalism can be attributed to an incentive structure based upon the three Ps: (1) prices determined by market forces, (2) a profit-and-loss system of accounting and (3) private property rights. The failure of socialism can be traced to its neglect of these three incentive-enhancing components.
3. By their failure to foster, promote, and nurture the potential of their people through incentive-enhancing institutions, centrally planned economies deprive the human spirit of full development. Socialism fails because it kills and destroys the human spirit–just ask the people leaving Cuba in homemade rafts and boats [and those waiting in long lines today in Venezuela struggling, and often failing, to buy food].
4. The temptress of socialism is constantly luring us with the offer: “give up a little of your freedom and I will give you a little more security.” As the experience of this century has demonstrated, the bargain is tempting but never pays off. We end up losing both our freedom and our security.
Socialism will remain a constant temptation. We must be vigilant in our fight against socialism not only around the globe but also here in the United States.
The failure of socialism will inspire a worldwide renaissance of freedom and liberty. For the first time in the history of the world, the day is coming very soon when a majority of the people in the world will live in free societies or societies rapidly moving toward freedom.
Capitalism will play a major role in the global revival of liberty and prosperity because it nurtures the human spirit, inspires human creativity, and promotes the spirit of enterprise. By providing a powerful system of incentives that promote thrift, hard work, and efficiency, capitalism creates wealth.
The main difference between capitalism and socialism is this: Capitalism works.
SIDE NOTE TO , Gary Huff, Jim Pritt, Adrian Kirkland, Morrison Pryor, Denny Deranek, Dwayne Alexander, Larry Schlesinger Sr., Robert Garcia,Julian Faedo, Joe Jolly, David Ogletree , Grant Hile (Grant),Doug Gasque , Sandra Mathews Ray
