Fox Business

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  • Myths & Facts: The Minimum Wage

    ››› ››› ALEX MORASH

    On June 25, 1938, President Franklin Roosevelt signed the Fair Labor Standards Act (FLSA) into law and established the first nationwide minimum hourly wage. The relative value of the minimum wage has fluctuated considerably over time, but it has steadily eroded since reaching an inflation-adjusted peak in 1968 -- the $1.60 per hour wage that year would be worth roughly $11.05 today. For several years, in the face of a growing movement to lift local, state, and federal minimum wages to a livable standard, right-wing media opponents have frequently promoted a number of misleading and discredited myths about the minimum wage’s economic effects.

  • Fox Business Makes The German Cinema Standoff All About Donald Trump

    Blog ››› ››› MEDIA MATTERS STAFF

    In the middle of an unfolding standoff between police and a gunman at a movie theater in Germany, Fox Business host Stuart Varney repeatedly pivoted to promoting Donald Trump, calling the incident “a plus” for the presumptive Republican presidential nominee.

    On the June 23 edition of Varney & Co., Varney dedicated two segments to the developing situation, speculating in each that the situation might benefit Trump’s campaign. First, Varney and Fox News contributor Monica Crowley, a Trump apologist,  agreed that the situation -- initially reported as a “mass shooting” -- would “absolutely” benefit the GOP front-runner because he has “emphasized the need for strong national security policy.” 

    Next, Varney asked Andrew Napolitano, a Fox News judicial analyst, what impact the incident might have on U.S. immigration policy. Napolitano responded, “When a crisis like this happens, it should benefit Donald Trump,” because “he portrays himself as the stronger, sterner protector of our shores.” He advised Trump to “express outrage and … determination” to “one up Mrs. Clinton.” Napolitano has a history of pushing conspiracy theories and recently used the horrific mass shooting in Orlando to promote debunked right-wing media myths about gun violence. He is also reportedly a likely Supreme Court nominee, should Trump become president.    

    Trump foreign policy adviser Walid Phares echoed Fox’s promotion of the GOP candidate, saying that if the shooting was “politically motivated terrorism,” it will benefit Trump because it will prove that “terrorism is active in Europe.”

    Varney has track record of inserting praise of Trump’s foreign policy positions into his reporting. On May 19, when an EgyptAir flight crashed in the Mediterranean Sea, the Fox Business host framed the tragedy as “a plus” and “politically good for Donald Trump.” On March 22, he also let Phares erroneously claim the United States doesn’t have a vetting process for Syrian refugees, whom Trump has incorrectly labeled as a threat to national security.  

  • Fox Business Mocks Clinton's Voice In KY Speech, Ignores Her $30 Billion Plan For Coal Country

    Right-Wing Media Have Spent Years Attacking Hillary Clinton For The Sound Of Her Voice

    Blog ››› ››› ALEX MORASH

    Fox Business completely ignored the economic details of policy proposals outlined by Democratic presidential candidate Hillary Clinton during a recent speech in Bowling Green, Kentucky, including a $30 billion plan to revitalize coal country, opting instead to mock the sound of her voice.

    On May 16, Clinton gave a 31 minute speech outlining economic policy goals she intends to achieve as president, according to The Courier-Journal. These goals included “reducing college debt, raising wages of workers, giving equal pay for equal work and improving the Affordable Care Act,” as well as her “$30 billion plan to revitalize coal country.” Clinton’s coal country revitalization plan creates protections for coal miners’ pensions, ensures adequate funding for local public schools, and provides job training and small business assistance for places once dominated by coal -- an industry that has seen economic forces lead to its decline.

    Fox Business host Stuart Varney asked Gov. Phil Bryant (R-MS) to listen to Clinton’s voice during the speech and critique it during an interview on the May 17 edition of Fox Business’ Varney & Co. Varney thought “she used a Southern accent.” Bryant joked that Clinton could join the Blue Collar Comedy Tour if not elected president, and claimed that her supposed “pandering to the crowd” was “a little insulting.” At no point during the discussion did either man reference the policies Clinton actually outlined in her speech.

    Right-wing media have repeatedly attacked Clinton’s voice for nearly a decade while ignoring the substance of her remarks. Attacks against Clinton’s voice by right-wing media ranged from her volume, to her allegedly offensive Southern accent, and her supposed use of “a blackface voice” when addressing an African-American audience. A Fox contributor once suggested that Clinton would “speak with a lisp” if she attended an event hosted by the lesbian, gay, bisexual and transgender community. These sexist attacks on Clinton’s voice are well documented and attempt to distract from the content of the candidate's positions.

    Watch the full exchange from the May 17 edition of Fox Business’ Varney & Co.:

    STUART VARNEY (HOST): One more thing for you, governor. Hillary Clinton was campaigning in Kentucky, and I think she used a Southern accent, and I want you to listen to it and critique it for a second. Roll tape.

    PHIL BRYANT: Do I have to?

    [...]

    VARNEY: Alright, governor, I do have an accent myself. Would you care to critique the accent you just heard?

    BRYANT: You know, if she doesn't get elected president, there may be an opening on the Blue Collar Comedy Tour for her with that accent. We'd have to get her a little better jokes, but of course it's a little insulting to hear that type of thing happen. But, she’s pandering to the crowd, Stuart. Some politicians do it, I won't hold that against her too much, and she needs to work a bit on it and maybe throw a “y'all” in there. But what we want to hear is what she is going to do about appointing Supreme Court judges [sic]. She’s been silent on that issue so far, and I’d like to hear if it’s going to be a Bernie Sanders, or who some of her Supreme Court nominees may be when she gets to be president of the United States.

  • An Extensive Guide To The Fact Checks, Debunks, And Criticisms Of Trump’s Various Problematic Policy Proposals

    ››› ››› TYLER CHERRY & JARED HOLT

    Over the course of the 2016 presidential primary, presumptive Republican presidential nominee Donald Trump has laid forth a series of problematic policy proposals and statements -- ranging from his plan to ban Muslims from entering the United States to his suggestion that the United States default on debt -- that media have warned to be “dangerous,” “fact-free,” “unconstitutional,” “contradictory,” “racist,” and “xenophobic.” Media Matters compiled an extensive list of Trump’s widely panned policy plans thus far along with the debunks and criticism from media figures, experts and fact-checkers that go along with them.

  • Think Tank Engulfed In "Exxon Knew" Scandal Peddles Discredited Study That Benefits Oil Industry

    ››› ››› DENISE ROBBINS

    Fox News and Fox Business have been promoting a debunked annual report from the fossil fuel front group Competitive Enterprise Institute (CEI), which claims that federal regulations cost the economy nearly $1.9 trillion each year. But the study has been roundly discredited and debunked, and it is being touted while CEI is under fire for its role in helping fossil fuel companies -- which would benefit from reduced federal regulations -- deceive the public on climate change.

  • Fox Business Pushes Four Lies About Smart Guns In 45 Seconds

    Blog ››› ››› TIMOTHY JOHNSON

    A brief segment on Fox Business Network about President Obama’s push to develop smart gun technology included falsehoods about Obama’s plan, the availability and reliability of smart guns, and law enforcement’s position on the issue.

    On April 29, President Obama announced a plan for the Defense Department (DOD), Homeland Security Department (DHS), and Justice Department (DOJ) to assist in the development of technology that allows only the authorized user of a firearm to fire it. As Obama explained, the purpose of the initiative is “identifying the requirements that smart guns would have to meet in order for law enforcement to purchase and use them effectively - and keep themselves and the public safer in the process.”

    During the May 3 broadcast of Fox Business’ Varney & Co., host Stuart Varney and Fox News contributor Katie Pavlich offered a litany of falsehoods to attack the Obama administration’s announcement:

    1. Varney opened the segment by claiming Obama “might use executive orders to push for smart guns.”

      In fact, Obama’s announcement was an update on his administration’s January announcement of executive actions, not orders. Conservative media frequently mislabel executive actions -- where, in this case, federal agencies are operating within their respective purviews to help expedite the development of technology – by terming them executive orders in an attempt to make claims about supposed Obama administration overreach.

    2. Calling smart guns “actually very dumb,” Pavlich claimed that “there are a lot of federal law enforcement agencies, and local police departments, and sheriff’s departments that are pushing back.”

      First, several federal executive departments that administer law enforcement agencies – DOJ, DOD, and DHS -- are involved in carrying out the administration’s plan, not opposing it.

      There has been only one high-profile law enforcement group that has been outspoken on Obama’s plan, and that group has a major conflict of interest. The head of the Fraternal Order of Police (FOP), Jim Pasco, was quoted in several news outlets criticizing Obama’s plan, without the disclosure that the FOP’s charity has received large amounts of money from the National Shooting Sporting Foundation, a gun industry trade group that often attacks smart gun technology. A 2010 investigation by The Washington Post identified several instances where the interests of clients at Pasco’s lobbying business aligned with positions subsequently taken by FOP.

    3. Pavlich claimed that “smart gun technology has been on the market for years now.”

      While smart gun technology has been in development for years, smart guns are not yet available for purchase by the general public in America, except for in rare instances. This is because gun dealers largely refuse to stock the first market-ready smart gun, the Armatix iP1, a semi-automatic handgun that uses radio-frequency identification technology. In 2014, a Maryland gun dealer was the subject of death threats and harassment from gun rights activists after the dealer announced his intention to sell the iP1. He later canceled his plan to sell the firearm. A similar incident occurred in California when a gun store attempted to sell the iP1.

    4. Pavlich claimed smart gun technology is “not reliable” and “when you’re talking about a life-or-death self-defense situation, people just aren’t going to go there and risk it with the smart gun technology.”

      Pavlich’s claim echoes a frequent attack from the National Rifle Association, which often makes false claims about the reliability of smart gun technology. Smart guns have to meet certain reliability benchmarks to be sold. For example, to be sold in California, the iP1 had to be able to fire 600 rounds with a malfunction rate of less than 1 percent.

      Obama’s announcement on smart guns also said the DOD would continue to allow manufacturers to use a testing facility in Maryland to improve reliability.​ According to a leading developer of the technology at the New Jersey Institute of Technology, the next generation of smart guns will have an operational failure rate “comparable to mechanical failure rate in many consumer side-arms.”

    From the May 3 broadcast of Varney & Co.:

    STUART VARNEY: President Obama, he might use executive orders to push for smart guns. What do you make of this?

    KATIE PAVLICH: Well, the problem with smart guns is they’re actually very dumb. And there are a lot of federal law enforcement agencies, and local police departments, and sheriff’s departments that are pushing back on President Obama’s idea that smart guns should be used, not only just in law enforcement, but across the country. The fact is that smart gun technology has been on the market for years now and people don’t buy them because they are not reliable. The president’s argument is that, look you have to be able to have guns that can only be fired by their owners, but when you’re talking about a life-or-death self-defense situation, people just aren’t going to go there and risk it with the smart gun technology.