Fox Nation vs. Reality: Giving Workers More Freedom Is ‘Devastating’ To Fox News

The Congressional Budget Office just released their latest set of economic projections for the next decade and the data provides some good news for America’s workers. But never let it be said that Fox News would receive such information and honestly present it to their woefully deceived audience. The headline at the top of the Fox Nation website trumpeted that the CBO’s report was “Devastating News for ObamaCare: Over 2 Million Workers Will Lose Jobs.”

Fox Nation

For more brutal deconstructions of Fox lies, read Fox Nation vs. Reality.

Oh my. That would be devastating – If it were true. However, the CBO report never said any such thing. The truth is that ObamaCare will provide workers with more freedom of choice due to the fact that they will no longer be shackled to jobs they don’t want or need simply because they can’t afford to lose their medical benefits. What ObamaCare does is to make health care affordable so that people can decide whether to continue their employment based on factors other than their health plan. Here is how the CBO phrased it:

“The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in businesses’ demand for labor, so it will appear almost entirely as a reduction in labor force participation and in hours worked relative to what would have occurred otherwise rather than as an increase in unemployment (that is, more workers seeking but not finding jobs) or underemployment (such as part-time workers who would prefer to work more hours per week).”

What this means is that workers may voluntarily choose to leave their jobs or work fewer hours. It does not mean that employers will fire anyone or cut staffing. And when a worker freely decides to resign, it is ridiculous to say that they “lost” their job. They didn’t lose it. They know where it is still. It’s just that they have chosen not to go there anymore (h/t Bobcat Goldthwait). That’s called freedom of choice.

There are many reasons why someone might leave a job under these circumstances. They may be seniors who wish to retire. They may be young mothers who want to be at home with their children. They may want to seek opportunities at other companies. They may be entrepreneurs who require more time to start a new business. Before ObamaCare these choices may not have been available because people were locked into their employer-provided health plan at a job that was not otherwise helping them achieve their personal goals. Now they will have more freedom to structure their lives in a manner that is more satisfying or appropriate to their circumstances.

Nevertheless, the Fox Nationalists falsely portrayed this exercise of free choice by workers as “lost jobs.” Then they judged this phony loss a devastating blow to ObamaCare. Their source for this blatantly misleading analysis is the “Moonie” Washington Times, a disreputable newspaper with an ultra-conservative bias. But it doesn’t stop there. The same fraudulent reading of the CBO study was aired on the Fox News Channel where they recruited criminal/congressman Darrell Issa to lambaste the “bombshell” report.

It’s no wonder that so many studies have proven that Fox News viewers are more ill-informed than viewers of other news outlets – and even those who view no news at all. The problem with the Fox News audience has never been that they lack information. The problem is that the information they have is more than likely untrue. We’ve been warned about this in the past by some notable thinkers:

“Beware of false knowledge. It is more dangerous than ignorance.” ~ George Bernard Shaw

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” ~ Mark Twain

“The whole problem with the world is that fools and fanatics are always so certain of themselves, and wise people so full of doubts.” ~ Bertrand Russell

Fox Nation
[Update] As Fox Nation escalates their mischaracterization of the CBO report with a feature story asserting a “Death Blow,” PolitiFact has analyzed the spin and the conservative claim that jobs will be lost due to ObamaCare. They found specific allegations, as articulated by House Speaker John Boehner and Fox News anchor Gretchen Carlson, to be “Mostly False.”

PolitiFact: “They made it sound as if jobs are going away because businesses don’t create them or because they eliminated existing jobs. The CBO report, though, was referring to workers who decide on their own to leave the workforce, because they don’t have to keep working a job just to keep their health benefits.”

Dumb Fox (News): Phony Think Tank’s Irrational Argument Against Minimum Wage Increase

By now no one should be surprised that Fox News, and the congregation of Tea Party conservatives they represent, would oppose legislation intended to benefit America’s working class. Fox has consistently fought against reforms that make it possible for people to take care of themselves and their families and to advance economically. Any policy that is viewed by their corporate benefactors as negative to their profit margins, or that might adversely impact their multimillion dollar compensation, is attacked by Fox News, and the rest of the rightist press, as anti-business or even socialist.

That is precisely the case with the current debate over whether to increase the minimum wage, which has not been done in seven long years. Raising the minimum wage is generally seen as politically popular, so in order to derail it, opponents have to pitch tortured arguments that have very little backing by knowledgeable, non-partisan economists. But the tactic being used by Fox today is particularly devoid of reason and is wholly unethical, even by the standards of Fox News.

Minimum Wage vs. Interns

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In an effort to manufacture a false claim of hypocrisy, Fox News is presenting an absurd comparison. Their story asserts that “Most sponsors of minimum wage hike bill don’t pay interns.” So F**king What? Internships are temporary positions made available to students so that they can get some real-world experience in their field of study and credit for school. They are not intended to be employment for personal gain. They serve the same purpose as the classroom at their school, and they don’t get paid for that either. Internships generally have a fixed term of a few weeks during the summer or other school hiatus. To compare that to jobs where people are working in order to support themselves and their families makes no sense whatsoever.

That said, there may be some good arguments for compensating interns, particularly in business where the enterprise has sufficient resources to do so. But to assert that members of Congress who support raising the minimum wage are being hypocritical for allowing students to get an up-close look at how government operates is simply a wild and irresponsible attempt to obstruct progress on policies that bring tangible relief to struggling Americans, as well as a substantial boost to the economy.

What makes this story even more repulsive is that Fox is citing data from a disreputable source with a vested interest in the welfare of the corporations it exists to serve. According to Source Watch

“The Employment Policies Institute (EPI) is one of several front groups created by Berman & Co., a Washington, DC public affairs firm owned by Rick Berman, who lobbies for the restaurant, hotel, alcoholic beverage and tobacco industries.”

So this organization is directly tied to the industries who are the most virulently opposed to a minimum wage increase. That should cause a legitimate news agency to steer shy of them if they are interested in unbiased information. But it doesn’t dissuade Fox, and a bevy of other wingnut “news” outlets, from eating up the self-serving tripe.

As if that weren’t bad enough, Berman & Company is also notorious for feathering its own nest. The bulk of the funds received by the organizations under its control goes right back into Berman’s pocket. For instance, the Employment Policies Institute reported $1,629,930 in total revenue for 2011, and $2,103,896 in total expenses. But despite running a half million dollar deficit, it paid Berman more than a million dollars that year. That alone should cast doubt on the quality of the economic advice they might dispense.

What we have here is a lobbyist who created a fake think tank so that he could raise funds from corporations to advocate on their behalf – and against the interests of average Americans. Then this fake think tank gets fake news enterprises (like Fox) to disseminate their tendentious opinions. That’s how the right-wing media machine poisons the public debate on important issues. And this particular article got spread to the the Wall Street Journal, the Daily Caller, Newsmax and other conservative mouthpieces.

To counter that, here is some more information on the benefits of raising the minimum wage. These articles explain in more detail why the nation should move forward with this legislation:

Economic Policy Institute: Low-wage Workers Are Older Than You Think

5 Right-Wing Myths About Raising the Minimum Wage, Debunked

SERIOUSLY? Fox News Thinks The U.S. Should Be More Like Rwanda

When it comes to America-hating rhetoric and bashing the values held by the majority of the citizens of the United States, Fox News takes a back seat to no one. Despite the diversity and tolerance of American society, Fox has made it their mission to inject bitter animus into the national family in order to create division and contempt. That’s why, in the Fox mindset, reproductive choice is murder, tax fairness for the wealthy is class warfare, affordable health insurance is communism, and an African-American president is a Marxist dictator who is unfit – even ineligible – to hold the office.

Nevertheless, it still comes as some surprise to find out what Fox regards as the utopian business model for the United States. In their feverish obsession for unfettered, free-market capitalism (which even the Pope recently condemned), Fox has long advocated the repeal of virtually every regulation they stumbled over. The Fox/Tea Party economic environment would be a chaotic anarchy where multinational corporations would rule with loyalty to nothing but their bottom line. It is that philosophy that is represented in their article that promotes, and distorts, a survey by the World Bank that ranked countries for their business friendliness.

Fox News

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The critical lesson from the data as analyzed by Fox, is expressed in their headline that laments that the “US ranks behind Rwanda, Belarus, Azerbaijan in ease of creating new business.” The inescapable conclusion is that the U.S. would be better off if it were more like Rwanda and the other third-world nations whose governments are too weak to provide any order or law or protection for its citizens who engage in business.

Setting aside the ludicrous notion that the U.S. should look to Rwanda for inspiration, the real problem with the analysis of the data is that it is comparing the U.S. to 189 other countries with which it has little in common. A more rational analysis would limit the comparison to other nations with large populations and high GDP. The World Bank’s website conveniently allows just such a comparison by filtering the list to include only those first-world countries in the Organization for Co-operation and Economic Development (OCED).

In the unfiltered list of all 189 countries, the U.S. comes in at 20th for “starting a business,” which isn’t really that bad out of 189. But when filtering the list to remove countries like Rwanda that tell us nothing about our place internationally, the U.S. jumps to number six. In fact, in the aggregate results for all eleven of the categories that the World Bank ranked (i.e. construction permits, credit, taxes, etc.), the U.S. is number two, behind New Zealand.

The question is: Why would Fox News want to deliberately misconstrue the survey to portray America as a third-rate loser in the world community? For the same reason they disparage everything else about this country that they despise. Contrary to Fox’s incessant whining about freedom and liberty, these are principles that they believe should only be available to corporations and the wealthy. It is in the interest of Fox conservatism to rebuke America as unfriendly to business in order to lobby for the elimination of the regulatory structure that they regard as impeding the liberty of the industrial class.

By misrepresenting the World Bank’s data, Fox has proven once again that they are more interested in advancing a rightist agenda than in informing their audience. And the direction in which they want to push America is one that will be distinctly unpleasant for most Americans, as demonstrated in this brilliant travelogue for the Tea Party vacation paradise of Somalia:

Hooray For Income Inequality! Or As Fox News Calls It ‘Income Opportunity’

Whenever Fox News encounters a progressive concept that they have difficulty refuting, they resort to redefining the terms of the debate. This was illustrated recently when they took to calling the government shutdown a “government slimdown,” as if it was a benign weight-loss program rather than a $24 billion boondoggle. It’s what turns free-market health insurance reform into socialized medicine. It’s tactic that is inbred into their political playbook, even going so far as to hire a “word doctor” to create an alternative language for their propaganda.

Now Fox News is pitching a new phrase to replace “income inequality,” which describes the gap between America’s ultra-wealthy and the average citizen. The current gap is greater than it has ever been, and the consequences are starkly negative for the nation’s economic health. The public is acutely aware of this problem and supports reforms aimed at resolving it. Therefore, unable to come up with a rational counter argument, Fox has introduced a new way of dressing up the problem that makes it seem all warm and fuzzy. They now call it “income opportunity.”

The new phrase debuted today when Fox News reporter, Doug McKelway, filed a story on the subject and noted that some amorphous congregation of anonymous critics are seeing the bright side of the loss of America’s middle class:

McKelway: Some critics say there is another side to income inequality. That’s income opportunity. For instance, as economic inequality between rich and poor has grown, women’s economic status has increased.

Really? So Fox News is now spinning this as a women’s rights issue. That makes sense because Fox has been such a stalwart defender of women’s rights. Like the right to be subjected to involuntary vaginal probes, or the right to be forced to carry a pregnancy to term, even if the father was a rapist. McKelway then deferred to an academic from Chicago (one of those rare times when Fox regards academics as credible sources), who took this reasoning even further saying that…

“Inequality, in terms of the gap between low and high wage people was creating opportunities for everyone, but women were especially able to leverage them. And that’s why you have so many women breaking the glass ceiling in recent years.”

Indeed. Opportunities for everyone have been gushing from the severe division between the rich and the poor. Never mind that this assertion was not supported by any facts, it must be obvious because, well, he said so. And who could have failed to notice that women have been crashing through the glass ceiling in unprecedented numbers. That’s why today “women currently hold 4.2 percent of Fortune 500 CEO roles.” And it also explains why, as of 2012, women are still paid only about 76.5 percent of what men are paid. And that’s actually a decline from 2010.

Finally, when McKelway completed his report, Fox anchor Jenna Lee injected another angle of inquiry to refute the fact that income inequality is necessarily to blame for any ill effects on the economy. Once again the anonymous specter of “some argue” entered the discussion when Lee posited to McKelway that…

“Some argue that the issue is less about the economy and more, really, about family.”

Of course it is. McKelway took the baton and ran down a series of reasons why the lack of opportunity is all due to poor people often being single mothers with less than college educations. And that state affairs couldn’t possibly be because they are poor to begin with, could it? No, they all started off well-to-do, then dropped out of Stanford and had babies, and that led to their eventual poverty. But don’t bring any of this up because, if you do, you’ll be accused of waging a class war.

Fox News

These are the sort of theories that go over well with the deceitful Fox News editors and their dimwitted viewers. And it’s all made possible by inventing language that is deliberately meant to mislead. Remember that the next time you find yourself in the midst of a government slimdown and some socialist tries to sell you health insurance that infringes on the income opportunity of being one of the 99% of Americans who isn’t a billionaire.

Oh The Stupidity: Sarah Palin Wants Obama Impeached For Both Solving/Not Solving The Debt Crisis

America’s own rogue GOPachyderm, Sarah Palin, is such a consistent source of hilarity it seems impossible that she could keep up the pace any longer. But just when you think she’s exhausted her supply of inanity, she posts another Facebook column and reestablishes her crackpot bona fides:

“Apparently the president thinks he can furlough reality when talking about the debt limit. To suggest that raising the debt limit doesn’t incur more debt is laughably absurd. The very reason why you raise the debt limit is so that you can incur more debt. Otherwise what’s the point?”

What Palin is mocking as “laughably absurd” is known to those who have advanced beyond remedial economics as “the truth.” The point of raising the debt ceiling, which Palin goes out of her way to misunderstand, is to pay for debt already incurred. It does not, and cannot, authorize new spending. Only Congress can do that. So if Palin has a problem with the outstanding debt, she needs to take it up with John Boehner.

Palin continues by declaring that “It’s also shameful to see [Obama] scaremongering the markets with his talk of default.” I wonder if she would castigate the sainted Tea Party icon, Ronald Reagan, for saying (video here)…

“Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar.”

But Palin hasn’t even begun to showcase her Olympian idiocy. Her Facebook drivel proceeds with a self-contradictory passage that begins by stating that…

“There is no way we can default if we follow the Constitution. The Fourteenth Amendment, Section 4, requires that we service our debt first.”

Actually, what the Fourteenth Amendment (Section 4) says is that “The validity of the public debt of the United States […] shall not be questioned.” It is a controversial clause that many interpret as authorization for the President to unilaterally raise the debt ceiling at will. So it appears that Palin is advising the President to take matters into his own hands. But her next paragraph puts an end to that sort of thinking.

“Defaulting on our national debt is an impeachable offense, and any attempt by President Obama to unilaterally raise the debt limit without Congress is also an impeachable offense.”

Huh? Palin just got finished arguing that the Constitution demands that the President take any and all measures to pay our debts. Now she says that if he does so he is guilty of an impeachable offense. And just to lock in the crazy, she also says that not doing so is likewise impeachable. In Palin’s twisted reality Obama cannot glance sideways without violating his oath of office.

Shameless self-promotion…
Get Fox Nation vs. Reality. Available now at Amazon.

What is abundantly clear is that Palin wants to believe that whatever this President does is a justification for impeachment. Her perspective is so irreparably warped that it has lost any semblance of rationality. This is something that has been noticeable for quite some time with Palin, but what stands out as utterly incomprehensible is that there are still people who hang on her every word – including in the media. It’s a sad state of affairs, but one that is not irreversible. We just need to provide the proper educational support. So let’s start with something that Palin might be able to grasp.

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Cletus on Debt Ceiling

Does Fox News Think That Ronald Reagan Tried To Panic The Markets?

This weekend’s edition of Fox News Sunday had a segment wherein the host, Chris Wallace, interviewed Treasury Secretary Jack Lew. In the course of the interview Wallace addressed the government shutdown and the approaching debt ceiling crisis with this phony premise:

“This week both you and the president seemed to be trying to panic the markets about both raising the debt ceiling and the government shutdown, saying that they should be more concerned.”

Fox News

In fact, President Obama merely observed what every credible economist has said about the prospect of the United States defaulting on its financial obligations. It would throw the world economy into turmoil and inflate the U.S. debt by billions due to higher interest rates. Just the threat of taking such an irresponsible step would panic the market without Obama having to say a word. And Obama is not the only one who thinks so. Here is what the GOP’s sainted Ronald Reagan had to say about it back on September 26, 1987:

Reagan: Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility – two things that set us apart from much of the world.

The hypocrisy of the Tea Party Republicans pretending to care about impacting the financial markets is monumental. Their own words (not to mention their actions) have been far more threatening than anything Obama has said. They have been saying for five years that Obama and his Marxist policies would bring the nation to ruin. They said he would destroy the economy and the country; that ObamaCare would bankrupt the nation and lead to civil war; that asking the rich to pay a little more in taxes, rather than putting the burden on the poor and middle class, would crush the recovery; that anything the President ever proposed would be a job killer and a disincentive to investment.

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Those predictions were about as accurate as last year’s Mayan end-of-the-world prophecy. The stock market is higher now than it was before the recession. The unemployment rate has dropped from 10.1 to 7.3 percent. And ObamaCare has proved to so popular that the demand crashed the government servers. Given the right’s record on forecasting the future, how can anyone take them seriously? Even the words of their idol, Reagan, don’t seem to diffuse their rabid Obama Derangement Syndrome.

Dumbass Doocy: Fox News Still Doesn’t Understand What The Debt Ceiling Is

As the nation approaches another showdown over the raising of the debt ceiling, Fox News continues to prove that either they don’t understand economics or they are dedicated to misinforming their gullible viewers – or more likely, both.

On Friday’s episode of Fox & Friends, Steve Doocy and his couch potato pals reacted with surprise to President Obama’s remarks about raising the debt ceiling. The President correctly described the function of this routine economic procedure by telling the Business Roundtable what it actually entails.

Obama: Raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you’ve got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.

Concerned that a succinct and coherent explanation might make Fox viewers aware of a small bit of reality (something Fox works diligently against), Doocy stepped up to make sure that his audience remained blissfully ignorant. He played two videos of Obama, one talking about the risks of high debt and the other advocating raising the debt ceiling. Doocy then said that Obama was talking about the same thing and had flipped his position. However, the debt is not the same thing as the debt ceiling. But this is a subject that is apparently way over Doocy’s head.

Doocy: So the first sound bite was from the president a couple of days ago at the Business Roundtable where he really got people thinking, “Did he just misspeak?” because he said essentially that raising the debt ceiling does not increase our debt. I know he studied law, and not economics, but increasing the debt ceiling indeed raises the debt.

Well, I know Doocy studied journalism at the University of Kansas and not economics, while Obama got a B.A. in political science from Columbia University and graduated Magna Cum Laude from Harvard Law School, but Doocy clearly knows nothing about either economics or journalism. Raising the debt ceiling does not raise the debt one penny. Just as the President said, it merely authorizes the government to pay bills that Congress has already incurred.

Allow me to spell it out. Let’s say the national debt is $10 trillion and the debt ceiling is $9 trillion. If the ceiling is raised to $11 trillion so that it can accommodate the outstanding obligations, the debt is still $10 trillion. There is no change except for the fact that bills can now be paid which, ironically, would have the effect of lowering the debt. Failing to raise the debt ceiling would result in default which would cause the ratings services to lower the nation’s credit worthiness. That would increase the interest that we pay on the debt which, of course, increases the debt. Which is exactly what happened last year.

So Doocy, and most of the Tea Party right, have everything exactly backwards – as usual. There is only one real reason that Fox and the GOP are obstructing the debt ceiling increase, and that is to harm Obama by attempting to blame him for the economic debacle that would ensue following a default. And they regard the devastation that the American people would suffer as merely collateral damage. As evidence, take a look at this chart that I created a couple of years ago illustrating the Republican support for raising the debt ceiling until a certain event occurred:

Debt Ceiling

And the same dishonest, partisan, hackery is in full effect today.

Fox Nation vs. Reality: The Poor Have It Way Too Good

When Fox News isn’t bitching about how President Obama has fouled up the economy and caused severe hardship for the American people, they switch over to their completely contrary view that there isn’t really any hardship and that the poor in America are luxuriating in a virtual paradise.

Fox Nation

To hear Fox News tell it, the real problem with America is that the greedy poor have too much and the long-suffering rich have too little. Consequently, the poor should lose benefits that assist them with trivialities like food, housing and education, while the rich should get more tax cuts, subsidies, and relief from regulations that protect everyone’s air, water, and safety.

That’s the position taken today on Fox’s community web site, and truth mangling, Fox Nation. Their article on the state of Americans living in poverty suggests that being poor is like a pleasure cruise with all the amenities included. Their source is an article on CNSNews, a subsidiary of the uber-rightist Media Research Center. The article cites data from a 2011 census report showing that most households living below the poverty live have non-essential extravagances like phones and refrigerators. The presence of these opulent goods is evidence that poor people are enjoying prosperity at the expense of the hard-trodden wealthy.

A deeper look at the details of this alleged abundance reveals that, in most cases, appliances like refrigerators, stoves, washers, dryers, and air conditioners, come with apartment living and are owned by the landlords, not the tenants. Cell phones and microwaves are inexpensive items that hardly connote wealth. Yet the Fox Nationalists begrudge low-income working people for having access to things like televisions that they might have bought years ago, before the Bush meltdown.

This is typical of the Fox mindset. They regularly report this same fallacy with minor updates. Last April they hosted Robert Rector, a Heritage Foundation analyst, who whined to the addled-brained Fox & Friends crew that the poor “have no hardship whatsoever,” and that poverty measurements are just “an advertising tool for expanding the welfare state and for spreading the wealth by pretending there’s a massive amount of hardship that really doesn’t occur anymore in our society.” Well, I feel better already.

Rector has been spewing that nonsense for more than a decade, and Fox has been helping him to promote it. They generally leave out pertinent facts such as that the people they are disparaging are not the recipients of welfare who they routinely characterize as moochers. They are working people who are struggling to provide for themselves and their families in the face of adversity. And Fox ignores the obvious when they assume that just because you reside in an apartment that has a stove and a laundry room, that you also have enough money to buy groceries, clothes, medicine, and other necessities.

This is a perfect representation of the insensitivity of selfish elitists in the media and the GOP (Greedy One Percent) who recently removed food stamps from a draft of the Farm Bill, but retained the hundreds of millions of dollars that goes to wealthy agribusiness interests. In their world the rich are always unfairly put upon, and the poor are lazy scam artists. It’s a perverse and twisted version of reality that keeps good people down.

Bigots On Fox: Capitalist Pig On Fox News Lives Up To His Name

Jonathan Hoenig is the manager of the Capitalistpig Hedge Fund and a Fox News contributor who appears weekly on “Cashin’ In.” He routinely blurts out ignorant rants such as declaring that access to health care makes everyone a slave, or that kids would do better on the streets than in public school, or that Social Security should be scrapped.

On this week’s edition of the program (video below) Hoenig demonstrated that he is not above religious bigotry to make a dubious point and to slander a Democratic congressman.

Fox News
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During a discussion about the Inclusive Prosperity Act (aka the Robin Hood tax), a bill that would impose a fee of a fraction of a percent on certain financial transactions, Hoenig abandoned any pretense of debating the merits of the bill and instead decided to attack the bill’s sponsor, Keith Ellison, for his religious beliefs.

Hoenig: I don’t know if Rep. Ellison has read the Constitution. I know he is a practicing Muslim and in Sharia law, there is a prohibition against trading of derivatives, against speculation of any type. And so in my opinion you could make the argument this is even a little bit of Sharia creep here with the cracking down on trade, cracking down on the derivative trade, cracking down on wealth production.

The only “creep” here is Hoenig. His repulsive attack on Ellison’s faith is not only evidence of his ingrained hatred, but he makes no sense whatsoever on a financial basis. Nothing in the bill prohibits derivative trading or any other stock transaction. And in addition to generating billions of dollars, the nominal fee would produce a more stable trading environment that in recent years has become dangerously volatile.

The fact that Ellison is Muslim has nothing to do with the bill. It is co-sponsored in the House by 17 representatives who are mostly Christians (and at least on Jew). Hoenig is obviously not an expert in Islamic practices. Millions of Muslims invest in equities markets in the United States and around the world. That includes one Muslim named Al-Waleed bin Talal, a Saudi prince whose share of stock in the network Hoenig is broadcasting on is exceeded only by Rupert Murdoch and his family.

Furthermore, Hoenig’s snide curiosity about whether Ellison has read the Constitution only reveals his own constitutional illiteracy. Article I, Section 8 of the Constitution explicitly grants authority for the government to assess taxes and fees such as the one in Ellison’s bill.

This segment is the perfect capsulization of Fox’s abhorrent philosophy and mission. It illustrates both their overt contempt for anyone who is not a member of their preferred fraternity (in this case Muslims), and their kneejerk opposition to any tax measure that benefits the nation if it imposes even a tiny burden on the wealthy and greedy corporations whose rights they regard as superior to the people.

Hoening is just another ignorant and insulting cretin to whom Fox News provides a platform to disseminate hatred and disinformation. And that includes the program’s host, Eric Bolling, who was quick to agree with Hoenig’s dumbshit commentary.

For God’s Sake, Do Not Take Financial Advice From Fox News

It has already been well established that Fox News is a round-the-clock lie factory (see Fox Nation vs. Reality), but in case anyone was ever curious about whether that distinction extended to their business channel, the Fox Business Network, you no longer need to wonder. This morning’s interview of FBN reporter Lauren Simonetti on Fox & Friends First has summarily resolved this question.

Fox News

The segment raised the issue of golfer Phil Mickleson’s recent showing at the U.S. Open where he came in second. It was the sixth time Mickleson fell just shy of victory at the event he has never managed to win. As a consolation, Fox News crunched some numbers and concluded that Mickleson was better off placing second because, according to their math, he would be poorer had he won. Here is Simonetti’s brilliant analysis (video):

“Sometimes coming in second pays off in the end. […] We broke down the numbers with the help of some tax gurus, for how much he could save, and the answer is $400,000 on taxes. […] So all in all, he’s $400,000 richer, I guess.”

Guess again. Simonetti’s logic revolved around the fact that had Mickleson won he would have earned an additional $3 million in prize money and bonuses on his sponsorships. The tax bill for that would have been about $400,000. Of course, that would still mean that after taxes Mickleson would be ahead by $2,600,000. But in the Fox universe, being able to avoid a $400k tax bite makes you $400k richer even though in the real world that the rest of us inhabit, you are actually $2.6 million poorer.

I really have to sympathize with the losers who have been duped by Fox into thinking that their business network is a reputable place to get information and advice. The irony is that Fox’s counsel is creating more financially deprived people who will necessarily have to rely on the government services that Fox so viscerally hate.

On the bright side (as Fox would say) is the fact that hardly anyone watches the network. After six years they are still a distant competitor to the business leader CNBC. That should mitigate the effect of the bad financial advice they disseminate along with their climate change denial, tax cut obsession, anti-ObamaCare hype, and general ultra-rightist propaganda. And remember, FBN was launched with a promise by its CEO, Rupert Murdoch, that it would be openly biased in favor of the corporatists saying that…

“…a Fox channel would be ‘more business-friendly than CNBC.’ That channel ‘leap[s] on every scandal, or what they think is a scandal.”

And Mr. Murdoch knows a thing or two about leaping on every scandal (i.e. Fast and Furious, Benghazi, IRS, NSA, birth certificate, ACORN, etc.). Murdoch’s Fox News leaps on scandals like a horny teenager at whorehouse.