Warren Pushes to Tax, Regulate Investments That Enriched Her

H/T The Washington Free Beacon.

This tax scheme that Princess Fauxachontias is proposing is why every Republican and anyone else we can get needs to get on the Trump Train 2020 and help reelect President Trump.

Then once President Trump gets relelected we need to start thinking about 2024.

Personally, I hope Vice-President Mike Pence runs.

Senator’s private equity plan would hurt retirees, universities.

Democratic presidential candidate Elizabeth Warren’s plan to crack down on the private equity industry would place stringent regulations on a source of funds that helped enrich her as a law professor at Harvard. The plan, which would heavily tax and regular private equity firms to stop what Warren has called Wall Street’s “legalized looting,” could also end up hurting her former Harvard colleagues and Massachusetts retirees.

The Harvard endowment and the Massachusetts state pension system invest a considerable portion of their portfolios in private equity, an asset class with the highest return of all investment types for both funds. Harvard used these returns to pay the six-figure salaries of Warren and her husband. Meanwhile, Massachusetts, the senator’s home-base, leaned on private equity yields to buoy its struggling pension fund, which covers 300,000 state employees, teachers, and retirees. Those holdings could soon be threatened by the Democratic presidential contender’s plan to overhaul the industry.

“The benefactors of private equity are diverse,” Adam Michel, senior policy analyst at the Heritage Foundation, told the Washington Free Beacon. “They’re people that are invested in these funds through their pensions or large endowments at schools across the country that are funding tuition for students that otherwise couldn’t afford to go to those institutions.”

Private equity is an investment class composed of funds and investors that buy out struggling companies and enact drastic turnaround measures to shore up the firm’s bottom line. While Warren acknowledged that some companies emerge better off as a result of private equity, she has pledged to heavily tax and regulate private equity to stop what she called Wall Street’s “legalized looting.”

“Sometimes the companies do well. But far too often, the private equity firms are like vampires—bleeding the company dry and walking away enriched even as the company succumbs,” Warren wrote in a Medium post in July

Harvard welcomed Warren as the new Leo Gottlieb Professor of Law in 1995, an endowed professorship established by a donation. She remained in that position full-time until her election as Massachusetts senator in 2011, earning $430,000 in the last two years of her time at Harvard, according to Senate disclosures. Warren’s spouse, Prof. Bruce H. Mann, continues to occupy an endowed seat in Harvard Law School.

The salaries of endowed professors are paid in part by investing donor dollars in the university’s $38 billion endowment. Investment gains fund one-third of the university’s operational revenue. Private equity played a significant role in securing returns for Harvard’s endowment and paying the salary of Warren and her colleagues. It is the third-largest asset class in the university’s portfolio and represents about 17 percent of all money invested, according to the endowment’s latest disclosure.

The Harvard endowment’s private equity holdings have provided critical buoyancy to the struggling fund, which placed second-to-last in return rate compared to other Ivy League institutions. Private equity raked in the highest return rate of all asset classes, 21 percent, while shares in publicly traded companies placed at a distant second place at 14 percent.

“The [endowment’s] gain was primarily driven by private equity and public equity exposures,” the endowment’s 2018 report read.

Some of those gains have returned to Warren since she launched her political career. Harvard employees are the third largest donors to the senator’s political efforts, collectively donating $70,000 since 2015 according to the Center for Responsive Politics. The endowment fund did not return a request for comment.

Private equity has provided financial benefits to Warren’s constitutents beyond Cambridge. The Massachusetts public pension system earns a disproportionately large part of its return from such investments, which comprises about 10 percent of the fund’s portfolio.

Massachusetts Pension Reserves Investment Management (Mass PRIM), which serves roughly 300,000 state and municipal employees, teachers, and retirees, has been struggling for some time, failing to reach its benchmark rate in 2018. The fund’s underperformance has contributed to the state’s “skyrocketing” unfunded pension liability that has increased from $13 to $40 billion between 2003 and 2017—a 196 percent gain—according to the Pioneer Institute, a Boston-based think tank.

The private equity portfolio of the Massachusetts pension system had the highest return rate—14 percent—of all public pension funds in the country in 2018, according to a study by the American Investment Council. In fact, Mass PRIM has topped the list four times since the annual study was first published in 2012 and has always made the top five highest return rates, shoring up the finances of the troubled pension fund.

“Our Top 5 ranking in each year of the AIC study’s history reinforces the importance of our PE portfolio to Mass PRIM’s overall performance,” Michael G. Trotsky, executive director and chief investment officer of Mass PRIM, said in a press release. “Our long-term commitment to this asset class enables us to partner with the industry’s top investment managers – allowing our team to access the most attractive opportunities in PE on behalf of our member plans and beneficiaries.”

Warren’s policy proposal, if enacted, would heavily restrict the operation of private equity firms. It would amend the tax code to drastically increase tax burden, curtail private equity’s ability to take on debt to purchase companies, and prohibit them from charging “huge monitoring fees.”

But by heavily restricting the operations of private equity, the senator’s policy might affect not just a few investors in Wall Street, but also universities and retirement funds, according to Michel, the Heritage analyst.

“[Warren’s policy] is really a backward way of thinking about how private exchange operates. To claim that an investment in a business is sucking anything out of that business is the opposite of what’s actually going,” Michel said. “When an investment is made in a business, that’s trying to make it sustainable, more profitable, employ more people and increase the wellbeing of everyone involved.”

The Warren campaign did not return request for comment.

 

 

Bill Weld on Trump, Ukraine: ‘That Is Treason’ — ‘The Penalty for Treason Under the U.S. Code Is Death’

H/T Breitbart.

William Weld(Rino-MA)is a bigger moron than I remembered he was.

How is asking that Slow Joe The Gaff Machine Biden and his son be investigated for their possible crimes rate a death sentence?

In spite of what Wacky Willie Weld says President Trump does not want Ukraine to interfere in the election but determine if Slow Joe The gaff Machine Biden and son Hunter have committed any crimes.

 

During Monday’s “Morning Joe” on MSNBC, 2020 Republican presidential candidate former Gov. Bill Weld (R-MA) reacted to the report that President Donald Trump repeatedly urged Ukrainian President Volodymyr Zelensky to look into former Vice President Joe Biden’s son, Hunter, and his business dealings.

Weld said “it couldn’t be clearer” that what Trump did was “treason pure and simple” because Joe Biden is a presidential candidate.

“Well, obviously, canceling primaries undermines democratic institutions and democratic elections, but that’s far from the deepest high crime the president has committed here,” Weld told host Joe Scarborough. “He’s now acknowledged that in a single phone call right after he suspended $250 million of military aid to Ukraine, he called up the president of Ukraine and pressed him eight times to investigate Joe Biden, who the president thinks is going to be running against him.”

“Talk about pressuring a foreign country to interfere with and control a U.S. election,” he continued. “It couldn’t be clearer, and that’s not just undermining democratic institutions — that is treason. It’s treason pure and simple, and the penalty for treason under the U.S. code is death. That’s the only penalty. The penalty on the Constitution is removal from office, and that might look like a pretty good alternative to the president if he could work out a plea deal.”

(h/t WFB)

Nancy Pelosi: Biden’s Ukraine Scandal Might Be Enough Reason to Impeach Trump

H/T Breitbart.

How can a scandal involving Slow Joe The Gaff Machine Biden and Ukraine be an impeachable crime for President Trump?

House Speaker Nancy Pelosi (D-CA) told members of Congress over the weekend that President Donald Trump’s interest in Joe Biden’s Ukraine scandals could bring about a “new stage of investigation” and ultimately impeachment.

“This violation is about our national security. The Inspector General determined that the matter is ‘urgent’ and therefore we face an emergency that must be addressed immediately,” Pelosi wrote in a letter to lawmakers on Sunday.

“If the Administration persists in blocking this whistleblower from disclosing to Congress a serious possible breach of constitutional duties by the president, they will be entering a grave new chapter of lawlessness which will take us into a whole new stage of investigation,” she continued.

According to an anonymous complaint revealed in reports last week, President Trump asked Ukrainian President Volodymyr Zelensky to look into former vice president Joe Biden’s son — Hunter Biden — and his business dealings in the eastern European country. However, according to CNNthe whistleblower “didn’t have direct knowledge of the communications,” citing an official with knowledge of the matter.

On Sunday, Trump said his conversation with Zelensky was “largely congratulatory,” adding that he did mention how he doesn’t want people like Biden and his son contributing to “the corruption already in the Ukraine.”

Trump, speaking to reporters on the White House lawn before flying to Houston, also said he doesn’t believe the person who reported the call is a “whistleblower,” stating that “you can’t have people doing false alarms like this.”

“When the president speaks to the head of another country, he has to be able to speak to those people and those people don’t want to know that they’re being recorded or that you have a stenographer working,” he said. “You don’t want to have to hear that. You can’t do that to a president and you can’t do that to other countries.”

Ukraine’s Foreign Minister Vadym Prystaiko similarly dismissed the idea of any crime or scandal in Trump’s conversation with Zelensky. “I know what the conversation was about and I think there was no pressure,” Prystaiko told Hromadske, a Ukrainian online broadcast outlet. “There was talk, conversations are different, leaders have the right to discuss any problems that exist. This conversation was long, friendly, and it touched on many questions, sometimes requiring serious answers.”

House Intelligence Committee Chairman Adam Schiff (D-CA) said Sunday that impeachment may be “the only remedy” as President Trump confirmed he discussed Biden and corruption with Ukraine’s president.

Appearing on CNN’s State of the Union, Schiff said he has been reluctant to join calls to impeach the president, but said the phone call would potentially be “the most profound violation of the presidential oath of office,” during this or any other presidency.

“If the president is essentially withholding military aid at the same time that he is trying to browbeat a foreign leader into doing something illicit that is providing dirt on his opponent during a presidential campaign, then that may be the only remedy that is coequal to the evil that conduct represents,” he said.

Women for Trump 2020 Kicks Off As Media Works to Destroy the President

H/T Godfather Politics.

These women supporting President Trump shoot holes in the drive-by media narrative that women hate President Trump.

The drive-by media claims that women hate President Trump as he is a misogynist pig.

A group of about 1,000 women gathered on Tuesday to launch their “Women For Trump 2020” effort to push the president over the finish line for 2020. Who says women don’t support Trump?

The women gathered for their kickoff rally in Pennsylvania, on July 16.

Trump War Room

@TrumpWarRoom

So many great ! Thank you to all of our wonderful supporters.

Pennsylvania voter Liana Evans: “We really feel like he speaks for us.”

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1,553 people are talking about this

The group is touting the president’s record of success in office. They have put out these talking points detailing that record:

  • Women who make up 56% of the 6,000,000 new jobs created since President Trump took office
  • Women who are 50% of the Trump campaign team
  • Women who are part of the 600,000 women who were lifted out of poverty by Trump policies
  • Women who are part of the 12.3 million women-owned businesses under Trump and who bring in $1.8 trillion in revenue
  • Women who are part of the 1,800 new businesses started every day
  • Women who appreciate the $26 billion in new drugs savings
  • Women who helped contribute to the $108 million Trump raised in the first campaign quarter
  • Women who were half of the 975,000 individuals who donated in the same quarter

As American Thinker reported:

Political celebrities supporting women included Lara Trump, Kimberly Guilfoyle, Ronna MacDaniels, Mercedes Schlapp, Kayleigh McEnany, Katrina Pierson, Brad Parscale, and none other than Diamond & Silk. The audience was beautiful, intelligent, enthusiastic, and involved. Chants of “USA,” loud applause, and a feeling of warmth and hope filled the room.

There were cheers for our president’s economic success of low unemployment and record-breaking stock growth, cheers for our president’s philosophy of leaving no one behind, cheers for our president’s support for our military and his success with highly complicated and difficult issues with North Korea, China, Israel, the Middle East, Iran.

Our president gave up his life of luxury and business to get bashed every day by the media and Democrats, with 93% negative coverage, because President Trump has a deep love for America and wants to help the forgotten men and women. As Katrina Pierson said, “he fights for me, so I am going to fight for him.” There were 1,000 women at the rally who are going to fight for Donald Trump. Soon they will recruit another 2,000 women who will then recruit 4,000 women, all foot soldiers who are not afraid to voice their support for Trump. God bless Donald Trump!

The media ignored the event, so here are some great tweets:

Brad Parscale

@parscale

Amazing crowd of women today in Pennsylvania for the launch of . Over 1000 showed up to hear @kimguilfoyle @LaraLeaTrump @GOPChairwoman @KatrinaPierson @kayleighmcenany speak.

This crowd is bigger than the Democrat candidates rallies!

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8,099 people are talking about this

Elizabeth Landers

@ElizLanders

“Trump! Trump! Trump!” – Women for Trump launches today in King of Prussia, Pennsylvania

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12K people are talking about this

Jessie Jane Duff

@JessieJaneDuff

Excited to join @TeamTrump coalition kick-off with @LaraLeaTrump and @DiamondandSilk!

Nothing the Democrats say will stop American women from supporting our President @realDonaldTrump!

View image on Twitter
2,552 people are talking about this

Trump Is ‘Very Seriously’ Considering This Route To Get That Key Citizenship Question On The Census

H/T Town Hall.

We need the citizenship question on the 2020 census that way we can get a better idea of how many illegals there are in America.

The number of illegals in America is a question Delusional DemocRats do not want answered.

Of the many legal roadblocks, the citizenship question on the 2020 census was one I thought would never be one. We’ve added one before in past surveys. It’s constitutional. The Justices noted that in the recent 5-4 decision to send this back to the lower courts for review. Chief Justice John Roberts sided with the liberal wing of the court. The main problem was that the Court didn’t like the Commerce Department’s reasoning for adding the question.

No doubt this was a body blow and it was even more disheartening when Commerce decided that they were going to print the surveys without the question. Again, the question itself is constitutional, but there was no time to hash this legal matter out in time. The clock was already running out. Yet, prior to the Fourth of July holiday, Trump said he ordered the Department of Justice to look into ways to add the question onto the survey.

He had also mulled delaying the census until this matter can be resolved. Now, the president might just add it through executive order. As Obama said, elections have consequences and he had a phone and a pen. Yep, and that applies to any president (via Associated Press):

President Donald Trump said Friday he is “very seriously” considering an executive order to try to force the inclusion of a citizenship question as part of the 2020 Census.

Speaking to reporters as he departed the White House for a weekend in New Jersey, Trump said the idea is among four or five options he’s considering as he pushes the issue.

“It’s one of the ways that we’re thinking about doing it, very seriously,” he said, despite the fact that the government has already begun the process of printing the census questionnaire without that question.

[…]

An executive order would not, by itself, override court rulings blocking the inclusion of the citizenship question. But such an action from Trump would perhaps give administration lawyers a new basis to try to persuade federal courts that the question could be included.

This is a key question. If you don’t have the right to vote here, you shouldn’t be counted. Sorry, only citizens should be counted and this strikes at the heart of Democratic Party power. They’ve harnessed and exploited illegal aliens for years to boost their delegations on the Hill.

This could undercut that immensely, especially in California. They cannot let this happen. So, even though an executive action won’t overrule the courts per se, it will spark yet another meltdown about this presidency.

That alone is worth doing. It will be great to see the liberal media have a meltdown again. And it will probably guarantee that the 2020 Democratic candidates would peddle positions to counter this move that goes so far to the left, they’ll go off the cliff. I mean they’re already insane now.

Do it, President Trump.

***

UPDATE: As for the DOJ legal team, well, a Maryland judge affirmed that they’re pursuing adding the question per the White House demands (via WaPo):

Government lawyers affirm administration will pursue adding citizenship question to 2020 Census, according to statement to Maryland judge. This is a developing story that will be updated.

[…]

A federal judge in Maryland overseeing one of three lawsuits on the citizenship question has given the Trump administration until 2 p.m. Friday to explain how it intends to proceed.

U.S. District Judge George J. Hazel has indicated he is poised to authorize litigants to start producing information in the case before him, which raises questions about whether the government had a discriminatory intent in asking for the addition.

In a call shortly before the 2 p.m. deadline, a Department of Justice lawyer said the government still doesn’t know what it plans to do, according to Thomas A. Saenz, president and general counsel of the Mexican American Legal Defense and Educational Fund, which represents some of the plaintiffs challenging the question.

 

Boom! America Created 224, 000 Jobs in June

H/T Breitbart.

President Donald J.Trump making America Great Again.

 

Job creation reignited in June, with nonfarm payrolls rising 224,000 and unemployment ticking up to 3.7 percent.

The June number will be closely watched after a surprisingly poor showing in May, when the U.S. economy was initially reported to have added just 75,000 jobs. That number was revised even lower on Friday, to just 72,000. April’s number was revised down to 216,000 from 224,000.

Economists surveyed by Econoday had been looking for a gain of 165,000 for June and for unemployment to remain steady at 3.6 percent.

The June number will also be looked to as a barometer for the Federal Reserve’s monetary policy. Last month, the Fed signaled that it was ready to cut rates if the economy continued to show signs of slowing and inflation remained low. The stronger than expected number may create some hesitancy to cut rates.

While the economy has continued to grow in the second quarter, it has shown signs of slowing from the rapid 3.1 percent rate of growth in the first three months of the year. Manufacturing has been a weak spot while consumer spending and the labor market have been strong. Economic weakness around the globe may also be weighing on the U.S. economy by reducing demand for U.S. exports. And uncertainty around trade may also be making businesses hesitant to invest and hire.

With unemployment near 50-year lows, job growth has slowed. Employment growth has averaged 172,000 per month thus far this year, compared with an average monthly gain of 223,000 in 2018. But wage gains have gone the opposite direction. In June, average hourly wages were 3.1 percent above the year-prior level.

Manufacturing jobs showed renewed strength, adding 17,000 jobs after four months of coming in flat. Construction jobs rose by 21,000. Transportation and warehousing added 24,000  jobs. Employment in health care increased by 35,000. Professional and business services added 51,000 jobs.

Donald Trump: ‘Mean’ Democrats Take Better Care of Illegals than Our Own Citizens

H/T Breitbart.

DemocRats want to take care of everything for illegals and stick the average American with the bill.

President Donald Trump said Monday that Democrats were more interested in caring for illegal immigrants than for United States citizens.

“The Democrats want to treat them with health care and with other things better than they treat the citizens of our country,” Trump said.

The president commented on Democrats after ten 2020 presidential candidates favoredgiving illegal immigrants tax-payer funded health care insurance in the last debate.

“It’s crazy what they’re doing, it’s crazy and it’s mean and it’s very unfair to our citizens,” Trump said.

The president also defended including the citizenship question in the 2020 census.

“I think there’s a big difference to me between being a citizen of the United States and an illegal,” Trump said

He also said it was unfair that illegal immigrants were being treated better than coal miners getting sick from black lung disease.

“These people got sick working for the United States and we treat people that just walked in better,” Trump said, citing recent policy efforts in California. “We’re going to stop it.”