Tag: elizabeth warren

Treasury Sec. Scott Bessent Schools Elizabeth Warren – Offers Her ‘Foreign Exchange for Dummies’

Treasury Secretary Scott Bessent recently smacked down Massachusetts Senator Elizabeth Warren and it was a thing of beauty.

Apparently, Warren sent Bessent a letter a few weeks ago claiming that she had ‘serious questions’ about foreign exchanges happening under Trump.

From Warren’s letter:

U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Secretary of the Treasury Scott Bessent pressing for more information regarding the Trump Administration’s decision to deploy its Exchange Stabilization Fund (ESF) to boost financial markets and inflate the Japanese yen after it rapidly dropped to a 40-year low. Warren noted that the Administration has yet to provide a detailed justification for its intervention, nor has it officially disclosed how much taxpayer-linked funds were spent purchasing yen.

“The mechanisms through which Treasury executed the yen purchase raise serious questions regarding the costs to American taxpayers,” wrote Ranking Member Warren.

Bessent’s response was EPIC. He posted it on Twitter/X. Here it is in full:

In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.

What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error.

To reiterate: under @POTUS, the United States delivers for America’s trusted partners.

For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.

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Elizabeth Warren Proves She Has No Idea How the Basic Concept of ‘Supply and Demand’ Works

Massachusetts Senator Elizabeth Warren was recently mocked on CNBC for fearmongering over the economy and getting tons of stuff wrong in general.

This is what Warren does now. It is what she has done every single day since the 2024 election. she complains and fearmongers about Trump and doesn’t even seem to care if what she is saying is even remotely true.

Now she is showing the world that she has no idea how the simple concept of supply and demand works.

Townhall reports:

Elizabeth Warren Proves Once Again That She Has No Idea How Basic Economics Works

It’s a fairly good rule of thumb that if Elizabeth Warren is against something, it’s probably a good thing that you should support. Or, at the very least, it reveals just how ignorant she is about how our supply-and-demand economy actually works.

She’s now waging a war against “dynamic pricing,” which she claims is how “giant companies … squeeze you even more.”

Yes, when people want more ice cream in the summer, the demand goes up while supply usually stays the same. So prices will go up. Same thing with tea bags in the winter.

Consumers often accept dynamic pricing. Airline tickets, for example, vary by price based on the day of the week and the season. Hotel room prices are subject to dynamic pricing, too.

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RFK Debunks Sen. Warren’s Hypocritical Attack on His Supposed Big Pharma ‘Conflict of Interest’

Reuters and Washington Post have a new deceptive report out claiming that Health and Human Services Secretary Robert F. Kennedy Jr. has financially benefited from a settlement with a top pharmaceutical company. But they left the crucial context out that showed he personally received not a dime.

Democrats are never ones for context. They love to have reasons to pretend they are destroying corruption when they are really going after personal political opponents. Sen. Elizabeth Warren (D-Mass.), for instance, had her warpaint and Tomahawk out as she screeched, “Is RFK Jr.’s son getting a cut of a $50 MILLION settlement that his dad could have influenced? I’m investigating.” Naturally, she needs something to investigate to avoid investigating Anthony Fauci and the pharmaceutical companies that pushed COVID vaccines that we now know, courtesy of Fauci‘s journal, were quite ineffective and sometimes injurious.

Kennedy responded to Warren and the lefty media outlets at the same time. “The Washington Post editorial board accuses me of a conflict of interest that might bias me against Big Pharma, whose interests they apparently seek to protect,” he posted on X, highlighting the irony of media and politicians rushing to defend monopolistic businesses. “The alleged conflict comes from money I supposedly made from a settlement in a lawsuit against Merck for injuries caused by its Gardasil vaccine.”

He emphatically stated: “The problem is that I never received a penny from the Merck Gardasil settlement, and neither has my son nor anyone else in my family.” So Warren et al. are smearing Kennedy with — surprise, surprise — lies.

Kennedy explained further, “Before taking office, I relinquished any interest in potential Gardasil fees back to the Wisner Baum law firm, which publicly confirmed this during my confirmation process. Yet @SenWarren, @Reuters, and @washingtonpost editorial board — in their ardor to protect Big Pharma — continue to push a false narrative that makes Big Pharma the victim and me the mendacious villain.”

For yet more interesting context, according to a Fox News report from last year, Warren received a whopping $5 million from Big Pharma during her 2020 presidential bid. And the Washington Post freaked out when Kennedy proposed limiting pharmaceutical ads. Always follow the money.

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Elizabeth Warren Endorses Radical DSA Candidate in Michigan Senate Race, is Reminded of Utter Failure of Her Platner Endorsement 

Massachusetts Senator Elizabeth Warren has just endorsed the far left DSA candidate Abdul El-Sayed for senate in Michigan.

She is doing this despite the fact that her endorsement of Graham Platner in Maine basically blew up in her face less than two weeks ago, when he was forced to drop out of the race over allegations of rape.

It shows just how desperate Democrats are to retake control of the senate.

Warren sure is a great judge of character, isn’t she?

Breitbart News reports:

Sen. Elizabeth Warren (D-MA) endorsed Muslim Michigan Senate candidate Abdul El-Sayed in the primary race, asserting that he is the only candidate who can build a “grassroots” movement to usher in leftist projects like universal health care.

El-Sayed has been backed by socialist Sen. Bernie Sanders (I-VT), Rep. Alexandria Ocasio-Cortez (D-NY), and most recently, Sen. Warren.

“Abdul is the only candidate in this race not taking corporate money, and he’s fighting to get money out of politics altogether. Abdul studied to be a doctor, and he’s fighting for every single American to have affordable, high-quality healthcare,” she said.

“Abdul has been a card-carrying union member, and he’s fighting for working people. That’s why he’s endorsed by the United Auto Workers, and he’s growing a movement of working people all across Michigan. And that’s why I’m endorsing Abdul. He is the fighter Michigan needs in the Senate,” Warren continued, identifying him as the “only candidate in this race who can build the grassroots movement needed to win in November for money in your pocket to get money out of politics and deliver Medicare for all.”

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Former Elizabeth Warren Volunteer Attends Ayatollah Khamenei’s Funeral, Says He Was the “Greatest Anti-Imperialist Leader During My Lifetime” in Iranian State Media Interview

A former Democrat activist and Elizabeth Warren Presidential campaign volunteer attended the funeral of the late Iranian Supreme Leader Ayatollah Ali Khamenei and participated in propaganda interviews, wearing a hijab and traditional Muslim garb. 

Calla Walsh, in a documentary-style interview with Iranian state media, described herself as “a journalist, originally from the United States.” She told the propaganda outlet, “The US and Israel were mistaken in thinking that by assassinating the leader that they could overthrow the Islamic Republic. In fact, this aggressive move, this audacious move, has actually only had the opposite effect, and that the people are more determined than ever in favor of the revolution, in defending the Islamic Republic, in defending Iran’s sovereignty, and there is still continuity in the leadership of the revolution.

“he was a leader to all people of the world who struggle against imperialism, against arrogance, against Zionism, against genocide,” she said. “To me, he was the greatest anti-imperialist leader to have lived during my lifetime.”

As The Gateway Pundit reported, Iran began a weeklong funeral last weekend for Khamenei, months after an airstrike killed him at the start of the U.S.-Israeli war against the country.

Walsh, a 22-year-old social justice warrior-turned defector, started out as a youth leader in Massachusetts Senator Ed Markey’s 2020 reelection, volunteering with Senator Elizabeth Warren’s 2020 Presidential campaign, and championing progressive causes. Now, the former rising star in the Democratic Party is on a US government watchlist “for her expansive dealings with the governments of Cuba and Iran,” the Free Press reports.

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With Friends Like This: GOP Senator Joins Forces with Elizabeth Warren to Push the Largest Tax Hike in Over FOUR DECADES

The one thing conservatives could generally count on from Republicans was their consistent opposition to tax increases. But one GOP Senator has decided to toss that principle aside and join forces with one of America’s most notorious leftists.

On Tuesday, Senator Bernie Moreno (R-OH) and Senator Elizabeth “Pocahontas” Warren (D-MA) wrote an editorial published by the far-left New York Times, which outlined their plan to ‘save’ Social Security.

Moreno and Warren correctly note that Social Security is facing a major funding crisis. By late 2032, the fund from which most Social Security beneficiaries are paid will be severely depleted unless Congress takes action.

If Congress does nothing, Social Security benefits could be cut by more than 20 percent.

The Senators write that instead of reducing the benefits, the government should adopt what they call a common-sense solution: lifting the Social Security payroll tax cap.

Warren and Moreno say that this is one way to make the payroll tax and solve the Social Security funding crisis for “another generation.”

More From the New York Times:

For 2026, the payroll tax cap, or taxable maximum, is $184,500. Workers and their employers each pay 6.2 percent on wages up to that amount. (Self-employed individuals pay 12.4 percent.) Today, the maximum Social Security withholding for one worker is $22,878, or 12.4 percent of $184,500. Not a penny more, even if an individual’s salary far exceeds $184,500.

Since the vast majority of Americans make less than that, most people are paying Social Security taxes on 100 percent of their earnings, while the highest earners are paying on only part of theirs.

Why should a middle-class nurse pay a larger share of her paycheck than a wealthy corporate lawyer? This is doubly unfair in an economy in which top earners’ wages, over time, have pulled far ahead of those of the average worker.

According to one estimate, eliminating the payroll tax cap would inject around $3 trillion into the program over the next 10 years. Lifting the cap so that all income is treated the same would generate substantial revenue that would extend the solvency of Social Security for another generation.

But what Warren and Moreno do not tell readers is that lifting the payroll tax cap would result in the largest tax increase in more than four decades.

This proposal would have a particularly devastating impact on sole proprietors, and costs would fall entirely on working Americans.

Moreover, the plan is more radical than any tax hike Joe Biden proposed.

Here is the National Review with the damning details:

That would represent a $3.4 trillion tax hike over a decade. As a share of gross domestic product, it would be the largest tax hike in over 40 years — eclipsing Bill Clinton’s 1993 tax increase, according to the Tax Foundation.

Not only would it represent a stunning betrayal of his own voters, as Moreno signed the Americans for Tax Reform’s pledge against any tax increases — it would even violate the $400,000-a-year Joe Biden threshold for tax increases.

Such a massive tax increase would also have crushing economic effects. Employers who don’t want to absorb the increase in payroll taxes will have to hire fewer workers or keep wages lower. It would place a significant burden on small business owners who operate as sole proprietors and pay self-employment taxes. And at a time when affordability has become a major issue, these costs would fall entirely on working-age Americans.

What makes Moreno’s turn to the hard left more distressing is that he has been one of the Senate’s most reliable MAGA warriors, particularly on immigration.

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Elizabeth Warren: Donald Trump Is ‘Trying to Subvert Democracy’ with SAVE America Act

Wednesday on MS NOW’s “On the Line,” Sen. Elizabeth Warren (D-MA) said President Donald Trump was trying to “subvert democracy” after he canceled the signing of a housing bill until the SAVE America Act is passed.

Warren said, “Donald Trump seems to think that the way he and the Republicans will win elections is to keep American citizens from voting. At least keep certain American citizens from voting. That’s his entire plan. And you know why he’s doing that? Because he’s losing and he knows he’s losing. Donald Trump pays attention to the polls. He knows that his polling is we’re down in the 30s. He knows that he is tying his Republican Party to a losing message. He knows that Americans across this country look out and say he’s made $2 billion on crypto. His kids are out there scamming money or being related to the president of the United States. People are sick of the corruption. They’re sick of the chaos, and they’re sick of the policies that Donald Trump is using to drive up costs. The tariffs that have driven up costs, the energy policies that have driven up costs, the health care changes that have driven up costs, and a war halfway around the world that has driven up costs.”

She added, “He is in trouble. And instead of changing his policies, instead of doing what the American people need and want, he’s off saying, I’m going to keep a bunch of them from voting. And that’s what he’s throwing down on. This is Donald Trump trying to subvert democracy because he understands that democracy is not going to be in favor of Donald Trump and the Republicans come November.”

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WHEN REALITY BITES: Sen. Elizabeth Warren’s Factually Vacant ‘Rich Pay 8%’ Tax Claim

Sen. Elizabeth Warren (D-Mass.) would likely today be a quarrelsome local education union official somewhere in her native Oklahoma had she not left the Sooner State in search of greener pastures following her father’s death.

She was born in Norman, home of a certain college football team associated with a university that is actually a left-wing troll manufacturer in one of America’s reddest states, and somehow, according to Wikipedia, ended up graduating from Northwest Classen High School in Oklahoma City in 1966.

Having myself grownup on Okie City’s southside — aka the “poor side of town” where we rednecks resided —my classmates and I in Moore High School’s class of 1968 mostly viewed Classen as a school for rich kids because it drew students from some of the most affluent neighborhoods in the state.

Interestingly, Warren’s Classen debate team won a state championship. As it happens, I was on Moore’s debate team with a then-young fellow named Tom Cole, who was a year ahead of me. You may have heard of Tom as he’s now Chairman of the House Appropriations Committee, a position from which he wields vastly more influence on the nation than Warren likely ever will have.

Anyway, enough of the Liz Warren, Okie, history lesson. She ended up at Harvard, ran for the Senate and won in 2012, where she has afflicted the national public policy debate with endless streams of the Left’s nonsensical “government-is-our-salvation” rhetoric masquerading as intelligent discussion.

A recent example of which is her April 15 Tax Day “Reminder: The average taxpayer pays 13% of their income in taxes. The wealthiest 400 families in the U.S. pay just 8% of their income in taxes.It’s time to make the ultra-wealthy pay their fair share.It’s time to pass a wealth tax.” 

If you have paid even the scantest attention to American politics since FDR, you have heard millions of variations on Warren’s claim because it’s conventional wisdom on the Left, which has been failing the test of reality since before the New Deal.

As I expected, Just Facts Daily (JFD) addressed Warren’s assertion and found it wanting:

“IN FACT, the wealthy pay about 33% of their income in federal taxes, even after write-offs. Warren’s 8% figure misleadingly counts paper gains as income and excludes massive amounts of taxes paid by wealthy people,” JFD reported.

Here are the specifics (Actually, there are more, but the following seven points ought to be the end of the discussion. For those who want more, however, JFD is happy to oblige with five more points at the link):

  • The U.S. Treasury estimates that the richest 0.1% of families paid an average effective federal tax rate of 33.5% in 2024.
  • The Treasury’s estimates of effective federal tax rates roughly accord with data published by the Congressional Budget Office, which typically lag the Treasury data by several years.
  • Unlike the incomplete and misleading tax rates reported by the media and politicians of both parties, the Treasury’s and CBO’s computations of effective federal tax rates reflect actual taxes paid (not marginal rates) and account for nearly all forms of income and nearly all federal taxes, such as capital gains, pensions, health benefits, payroll taxes, excise taxes, corporate taxes, hidden taxes and write-offs (aka preferences).
  • Warren cites no source for her figure of 8%, but it accords with a 2021 Biden White House analysis that estimated an “average federal individual income tax rate” of 8.2% for “America’s 400 wealthiest families” during 2010–2018.
  • Contrary to Warren, that analysis is not a full measure of “taxes” because it only includes “federal individual income taxes” and excludes all other types of federal taxes, such as social insurance taxes, corporate income taxes, excise taxes, estate taxes, and gift taxes.
  • Contrary to the law and reality, the Biden White House analysis understates the actual income tax rate by counting “unrealized capital gains” as “income.”
  • Per the Supreme Court’s 1920 ruling in Eisner v. Macomber, “increase in value of capital investment is not income in any proper meaning of the term,” and “mere growth or increment of value in a capital investment is not income.”

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Veteran Who Graham Platner Said Didn’t ‘Deserve to Live’ Slams Elizabeth Warren and Bernie Sanders for Backing Him 

Graham Platner, the Maine Democrat running for senate who has been plagued with multiple scandals calling his character into question, was recently exposed once again, for mocking a fellow war veteran and saying that he didn’t ‘deserve to live.’

That veteran is a man named Teddy Daniels and he just wrote an op-ed for the Wall Street Journal, firing back at Platner for his comments.

This weekend, Daniels appeared on CNN and slammed not only Platner, but Senators Elizabeth Warren and Bernie Sanders for backing Platner, despite all of these awful remarks and controversies.

Transcript via Mediaite:

I kind of consider the source on that, first and foremost, and I’ll be honest with you, what really upset me about the comments is — you know, I can’t even say that I was upset. I’m upset about the comment that he made about Chris Kyle. You know Chris Kyle has kids. He’s not here to defend himself.

I have kids and you know with people like Elizabeth Warren and Bernie Sanders backing this man, I want them, I want Elizabeth Warren and Bernie Sanders to — my youngest is 8, he turns 9 in a couple days — to tell my kids that they’re supporting a man who said their father didn’t deserve to live. I mean, think about that. You know, that’s the issue there. It’s just sad that somebody like this is being considered for a position in leadership in the United States Senate.

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Warren Whines As Senate Banking Committee Advances Crypto CLARITY Act, Two Democrats Break Ranks

The Senate Banking Committee advanced the Digital Asset Market Clarity Act on a 15–9 vote Thursday, with Sens. Ruben Gallego (D‑Ariz.) and Angela Alsobrooks (D‑Md.) joining all 13 Republicans to move the sweeping crypto market structure bill to the full Senate.

The Clarity Act is the Senate’s bid to build a federal framework for digital asset trading, stablecoins and intermediaries, splitting oversight between the SEC and CFTC and setting registration, disclosure and compliance rules for exchanges, brokers and custodians. It now advances alongside a related bill from the Senate Agriculture Committee, with the two texts expected to merge before a floor vote.

Chair Tim Scott (R‑S.C.) cast the markup as a turning point after years in which crypto firms operated in what he called a “regulatory gray zone” under “outdated rules.” 

He said the bill aims to protect consumers, keep innovation in the United States and “close the doors that criminals, terrorists and hostile regimes have tried to exploit,” after months of cross‑party talks that expanded the draft by more than 200 pages.

Sen. Cynthia Lummis (R‑Wyo.), who leads the committee’s digital assets panel, called the Clarity Act “the hardest piece of legislation” she has worked on across decades in state and federal office. She described it as a “case of first impression” that tries to fit new asset types and software into a regulatory code built for earlier markets.

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