The Wall Street Journal's Stephen Moore falsely accused Rep. Barney Frank of "involvement in giving a blank check to Fannie and Freddie," echoing the oft-repeated myth that Frank fought efforts to strengthen congressional oversight over Fannie Mae and Freddie Mac.
Echoing a false GOP talking point, Stephen Moore claimed that "groups like ACORN" received money in the recovery act. In fact, the act does not mention ACORN or otherwise single it out for funding.
On CNBC, Stephen Moore falsely claimed that President Obama "never used the word 'entrepreneur' " in an April 14 speech. In fact, during the speech Obama said, "If businesses and entrepreneurs know today that we are closing this carbon pollution loophole, they'll start investing in clean energy now."
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The Wall Street Journal's Stephen Moore and Fox News anchors Bill Hemmer and Megyn Kelly promoted the falsehood -- which first appeared in a Bloomberg "commentary" by Betsy McCaughey and was subsequently promoted by Rush Limbaugh and Matt Drudge -- that the economic recovery bill includes a provision that would, in Moore's words, "hav[e] the government essentially dictate treatments." Limbaugh later took credit for spreading this story.
The Wall Street Journal's Stephen Moore asserted that Sen. Barack Obama "has vowed ... to end the cap on Social Security taxes, which amounts to a tax hike on anyone who makes more than $100,000 in income," and he later asserted that "New York Rep. Joseph Crowley says a couple with earnings of $100,000 could be 'a police officer and nurse.' 'In New York City,' he adds, 'they'd be struggling.' " Moore's inclusion of a reference to "a couple ... [who] could be 'a police officer and nurse' " falsely suggests that Social Security taxes are assessed on households. In fact, Social Security payroll taxes are assessed on individual income.
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.
Stephen Moore selectively cited Internal Revenue Service statistics in order to buttress his assertion that "[i]n the aftermath of the Bush investment tax cuts, the federal income tax burden has substantially shifted onto the backs of the wealthy." In fact, the reason that the total share of income tax paid by those making more than $200,000 increased between 2002 and 2004 is that the number of people earning at least that much increased substantially, as did the average income of people within that bracket. However, filers earning at least $200,000 actually paid an average of 4 percent less federal income tax in 2004 than they did in 2002, even though their average incomes increased 10 percent during the same period.
On Fox News' The Journal Editorial Report, Wall Street Journal editorial board member Stephen Moore falsely claimed that "in the outer continental shelf," the United States has "more oil available than Saudi Arabia." Similarly, the New York Post claimed in an editorial that drilling in the Arctic National Wildlife Refuge (ANWR) "could eventually produce close to what America now imports from Saudi Arabia" -- a claim also contradicted by U.S. Department of Energy estimates.
Wall Street Journal editorial writer Stephen Moore claimed that the Preble's meadow jumping mouse -- a small rodent native to Colorado that was placed on the U.S. Fish and Wildlife Service's "Threatened" list in 1998 -- is "not endangered" and "isn't even a unique species," citing a 2003 study. However, a more recent and more exhaustive study conducted by the U.S. Geological Survey (USGS) found that Preble's meadow jumping mouse is, in fact, a distinct subspecies, qualified for protection under the Endangered Species Act.
Appearing on MSNBC's Scarborough Country, Wall Street Journal editorial board member Stephen Moore falsely claimed that there is "more oil offshore in America than there is in Saudi Arabia." In fact, according to the U.S. government, Saudi Arabia has as much as 10 times more oil resources than the U.S.