Stephen Moore asserted that "a lot of the new [tax] revenue is coming from rich people," and then asked rhetorically, "if [Bush's tax cut] was a big tax cut for the rich, why are the rich paying more taxes than ever?" In fact, filers earning at least $200,000 paid less federal income tax in 2004 on average than they did in 2002.
Few media reports on new, lower federal budget deficit projections by the Bush administration pointed out that critics have accused the administration of inflating its original deficit predictions to be able to later tout the actual, less dire, figures.
On Fox News' Your World with Neil Cavuto, Jonathan Hoenig, managing member of Capitalistpig Asset Management LLC, asserted that a pre-emptive attack on North Korea would cause "the market" to rise. "I would love to see us launch a pre-emptive attack on North Korea," Hoenig stated.
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Reporting on the death of former Enron Corp. founder and chairman Kenneth Lay, on the July 5 edition of NBC's Nightly News, correspondent Don Teague made no mention of Lay's connection to President Bush.
On June 29, several Fox News media figures suggested that the U.S. government should "put up the Office of Censorship" to screen news reports to determine whether they "hurt the country" or are of "news value," in the wake of a New York Times article disclosing a Treasury Department program designed to monitor international financial transactions.
In response to the reports describing a Treasury Department program designed to monitor international financial transactions for terrorist activity, President Bush and other White House officials lashed out at the media -- and The New York Times in particular -- for purportedly undermining the government's antiterrorism efforts. But as with the disclosure of the Bush administration's warrantless domestic surveillance and domestic call-tracking programs, the administration and its supporters in the media have relied on numerous false and misleading claims to support their arguments.
In an online column, National Review editor Rich Lowry wrote that President Bush, who in 2004 pledged to cut the federal budget deficit in half by 2009, may follow through on that pledge by the end of 2006. However, many experts have said that the Bush administration routinely offers inflated deficit projections so it can then take credit for actual deficits that come in below those projections.
On Your World, Jonathan Hoenig, managing member of Capitalistpig Asset Management LLC, said the United States "should take preventative action" against North Korea to "take out their capacity to threaten us" and prevent North Korea from becoming "a real threat and a catalyst for a major sell-off on Wall Street."
On NBC's Today, Michael Smerconish selectively cited the stock market's performance and cherry-picked favorable data from a New York Times op-ed to claim that President Bush was making a "comeback." In fact, the Dow Jones industrial average has headed downward dramatically in recent weeks before experiencing a partial recovery in recent days, and other data cited in the Times op-ed led its authors to conclude that "it is increasingly hard to describe Iraq as a glass half-full."
A June 13 Washington Post article reported Karl Rove's claim in a recent speech that Democrats are "for more spending," while Republicans support "less spending" but provided no rebuttal to the assertion. In fact, President Bush and the GOP-led Congress have joined in creating massive budget deficits by significantly increasing domestic and defense spending while cutting taxes.
On his radio show, Neal Boortz stated that "[s]o many" of the victims of Hurricane Katrina "have turned out to be complete bums, just debris," and called "thousands" "deadbeat[s]."
On Fox News' Your World, Jonathan Hoenig, managing member of Capitalistpig Asset Management LLC, asserted that bombing Iran would raise the Dow Jones industrial average. Hoening stated: "[F]rankly, if you want to see the Dow go up, let's get the bombers in the air and neutralize this Iranian threat. We've gone to the negotiating table, we have danced around with these people" and "that's not going to help this country nor the stock market." During the discussion, host Neil Cavuto stated that "the message is just, 'Avoid people with beards,' " after airing a split-screen shot of Federal Reserve Chief Benjamin S. Bernanke and Iranian President Mahmoud Ahmadinejad. Both have beards.
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On ABC's World News Tonight, anchor Charles Gibson cited a poll showing that 60 percent of Americans disapprove of President Bush's handling of the economy and asked chief Washington correspondent George Stephanopoulos to explain the "disconnect" between this disapproval rating and the fact that that "economic numbers are pretty good." Stephanopoulos responded by quoting unnamed "Republican strategists" who attributed the low poll numbers solely to high gas prices. No perspective was offered from Democrats, who might have noted that wage increases are barely keeping pace with inflation.
On Fox News' Hannity & Colmes, Neal Boortz made misleading claims about the Fair Tax Act, introduced by Rep. John Linder, which would replace all existing federal taxes with a national retail sales tax on most consumer and government purchases. In fact, Boortz relied on an unusual method of describing sales tax rates. Moreover, according to President Bush's Advisory Panel on Federal Tax Reform, Boortz significantly understated the tax rate necessary for the Fair Tax Act to be revenue-neutral.