Tidbits Political Quotations
To Accompany the August 14, 2020 Edition of Tidbits
Bob Jensen at
Trinity University

My Latest Web Document
Over 600 Examples of Critical Thinking and Illustrations of How to Mislead With Statistics --

Animated  Visualization of the United States’ Exploding Population Growth Over 200 Years (1790 – 2010) ---
A Visualization of the United States’ Exploding Population Growth Over 200 Years (1790 – 2010)

USA Debt Clock --- http://www.usdebtclock.org/
The published national debt is a lie
Here's the real federal debt ---

Debt to GDP Ratio by Country 2020 ---

Human Population Over Time on Earth ---

MIT's Links to Covid-19 Trackers Around the World ---

Johns Hopkins University:  Updated Map and Table on the Number of Coronavirus Cases for Every Nation ---
Accuracy is subject to wide margins of error for every nation and varies greatly between nations.

Covid019 in New Hampshire ---

The best maps for comparing counties and towns in your state are provided by your state. For example, here's the map showing the distribution of cases for New Hampshire counties and towns ---


Beautiful News Daily (news and statistics to offset all of today's bad news) ---


 Here's a humorous and serious TED talk that seriously argues why the world needs billionaires


Why did Cuba abandon its socialist/communist dream of equality for everybody?
The Guardian:  This was the egalitarian dream of Cuba in the 1960s: For years in Cuba, jobs as varied as farm workers and doctors only had a difference in their wages of the equivalent of a few US dollars a month.



Here's a somber and serious Guardian article on why the Cuban model of income equality for all is a disaster ---
Fidel Castro says his economic system is failing ---


Miracle of Chile --- https://en.wikipedia.org/wiki/Miracle_of_Chile
Movie:  The Chicago Boys of Chile ---


The Singapore Dream:  How Singapore's richest man went from welding in a factory for $14 per hour to owning a $17 billion hotpot restaurant chain ---


While a move is underway to destroy the American Dream of rags to riches (by taxing away the riches) the Chinese dream is on the rise.
The Chinese Dream
How a Chinese billionaire went from making $16 a month in a factory to being one of the world's richest self-made women with an $8.3 billion real-estate empire ---


Top 50 Billionaires in China ---

Jensen Comment
The question for students to debate is why a supposed communist country allows so many billionaires to rise up from poverty.
That's supposed to happen in the USA where a child growing up in deep poverty (think Oprah Winfrey or Howard Shultz) became a multi-billionaires.
But is it also supposed to happen under communism? If so, why?


One reason is that many billionaires can afford to pour lots of money into high risk ventures. When's the last time you heard about a high risk (think Silicon Valley) venture in Europe?


Wikiquote from Wikipedia --- https://www.wikiquote.org/


I detest what you write, but I would give my life to make it possible for you to continue to write ---


"This is perhaps the assembly of the most intelligence ever to gather at one time in the White House, with the exception of when Thomas Jefferson dined alone"
John F. Kennedy at a White House party


Harper's:  A Letter on Justice and Open Debate --- |



When the Great Scorer comes to write against your name, one unforgiveable sin (racial profiling) outweighs all the good you've done in life.

Bob Jensen


Kobe Bryant:  We need to make the most of every minute we have ---


Remembering George Floyd ---


James Baldwin Talks About Racism in America & Civil Rights Activism on The Dick Cavett Show (1969) ---


Hermann Weyl born in Hamburg, Germany. He wrote, "One may say that mathematics talks about the things which are of no concern to men. Mathematics has the inhuman quality of starlight---brilliant, sharp, but cold ... thus we are clearest where knowledge matters least: in mathematics, especially number theory." ---
Also see Mathematical Analytics in Plato's Cave


And nevertheless conclude that the optimum amount of restriction of immigration is zero point zero, zero, zero? Amazing. Economics are generally skeptical models that yield corner solutions ---
Jensen Comment
To the list of questions I would add "Do your talk about the Tragedy of the Commons?"
The problem with open borders is somewhat related to the economic problem of "The Sharing of the Commons" where giving everybody the right to use a free resource leads to everybody losing that resource. At what point will allowing billions of people share in the free medical care, free college, and other scarce resources ruin it for everybody ---


History of United States Immigration Laws ---


Open immigration can’t exist with a strong social safety net; if you’re going to assure healthcare and a decent income to everyone, you can’t make that offer global ---
Paul Krugman


History will prove former President Donald Trump was correct about Mexico one day funding an impenetrable wall --- to keep out over 2 billion starving green immigrants seeking to enter Mexico from the north.
Bob Jensen


Assorted Charlie Munger Quotations ---



Walter E. Williams:  Insults to Black History ---


Walter E. Williams:  The Leftist Effort to Revise American History ---



Walter E. Williams:  The True Plight of Black Americans



Is Racism Responsible for Today's Black Problems? ---


Some Fatherly Words of Wisdom from Jack Bogle, Founder of Vanguard Investments, to My Sons ---


Walter A. Williams:  The Nation's Report Card
How are K-12 schools doing under President Trump versus President Obama?

Jensen's Comment
Most K-12 schools were probably doing better when I was a child than they're doing today. The downhill slide is greatest in the gang-ridden schools, drug-infested urban schools like Chicago and New Orleans. Throwing money at such schools is not the answer until life at home recovers. Finland knows this, which is why Finland's dads spend more time with school children than the moms or the teachers.


Walter E. Williams:  Insane News Tidbits ---


Milton Friedman:  The Lesson of the Spoons ---
Chopsticks would be even better


Rep. Ilhan Omar Calls For “Dismantling” of US “Economy and Political Systems” (VIDEO) ---
Jensen Comment
Republicans are most grateful that Omar played a huge role in getting Biden nominated


Radical Seattle City Councilmember Kshama Sawant Vows to Militantly Overthrow the United States and Replace with “a Socialist World” ---
Also see


Black Police Chief Explains to Seattle Councilwoman That She Can't Fire White Officers Just Because They're White ---



"In Praise of Cheap Labor," by Paul Krugman, Slate, March 21, 1997 ---


Corruption in general has a deleterious effect on the readiness of economic agents to invest. In the long run, it leads to a paralysis of economic life. But very often it is not that economic agents themselves have had the bad experience of being cheated and ruined, they just know that in this country, or in this part of the economy, or this building scene, there is a high likelihood that you will get cheated and that free riders can get away with it. Here again, reputation is absolutely essential, which is why transparency is so important. Trust can only be engendered by transparency. It's no coincidence that the name of the most influential non-governmental organization dealing with corruption is Transparency International.
A Conversation with Karl Sigmund:  When Rule of Law is Not Working

Great fleas have little fleas upon their backs to bite 'em, And little fleas have lesser fleas, and so on ad infinitum ---

Augustus De Morgan

Prior to 1980 what was unique about the year of his birth in 1871?

Also see

The enemy is fear
We think it's hate
But, it's fear



12 inspiring quotes from Martin Luther King Jr.---


‘Never Be Afraid’: William Faulkner’s Speech to His Daughter’s Graduating Class in 1951 ---


21 outstanding Warren Buffet quotations ---
Also see

History of United States Immigration Laws ---

Will Nextpolis become the new Hong Kong?
Jensen Comment
I doubt if the proposed location of Nextopolis will work well unless the EU gives Nextopolis exemptions from the many and severe regulations in the EU.  The same can be said for the West Coast of Canada since Canada is also bound up in regulations. It would be dangerous to locate it in Tiawan. Singapore has a better shot.

Hydroxychloroquine could save up to 100,000 lives if used for COVID-19: Yale epidemiology professor ---

NYT:  Should We Cancel Aristotle? He defended slavery and opposed the notion of human equality ---

Walter E. Williams:  Rotten Education Isn't Preordained:  in 2016, in 13 Baltimore high schools, not a single student tested proficient in math ---

The Politidcally Correct Goose Step May Ruin Universities ---

MIT:  Chinese and Russian Hackers Were Sanctioned by Europe for the First Time ---

Homicide Spike Hits Most Large U.S. Cities ---

Seattle Moves to Abolish Entire Police Force ---

Gallup:  81 Percent of Black Americans Want the Same Level, or More, of Police Presence ---

Chicago is spending $1.6 billion on 13,000 police. Is it worth it?

Chicago Cuts School Police Budget by More Than Half ---

July 30, 2020:  Don’t Look Now, But Philly’s Homicide Count Just Broke a Record ---

Portland Antifa and Black Lives Matter launched explosives at the Federal Courthouse and Justice Center while attempting to barricade agents inside on the 50th night of riots in the ultra liberal city ---
I think Nancy Pelosi is happy about this since the Federal "storm troopers" seem to be losing the battle ---

Oregon will sue federal agencies over use of force against protesters ---


The Antifa Brought Weapons And Will Bring Them Again Until They Get Their Civil War
Three Federal Agents May Have Been Blinded Permanently by Antifa-BLM Lasers in Portland ---
I'm afraid the the defunded and defanged police are helpless in fighting the armed Antifa-led mobs.

One day white supremacist snipers may enter the fray and Antifa will finally get the Marxist Civil War it really wants.
The said thing is that BLM activists will one day regret being led into that civil war by Antifa Marxists


Portland Mayor Ted Wheeler Thursday evening condemned the actions of rioters who attempted to set fire to a police precinct and blocked the exits while officers were inside ---
Was this incident covered up by ABC, CBS, NBC, CNN, and MSNBC"

Garbage is piling up across New York City sidewalks attracting rats and raccoons after the sanitation department's budget was cut by $106million ---

UN Reports North Korea’s Abuse of Women: Rape, Forced Abortion ---

CNN’s Gone PC Crazy: Term ‘Woman’ Replaced With ‘Person With Cervix’ ---
Does that mean we can have two types of sports competitions based on whether players do or do not have cervixes?

Don’t Cry for Me Argentina
The South American nation appeared to be close to a landmark $65 billion debt deal with creditors, sparking a bond rally in the recession-hit country that’s poised for a record contraction of its economy this year.
Ecuador struck a similar $17 billion deal with creditors ---

UPS Readies Freezer Farms to Ship Virus Vaccine — If We Get One ---

Susan Rice's son suffers from conservatism disease ---

More Farmers Declare Bankruptcy Despite Record Levels of Federal Aid ---

The Truth Is Paywalled But The Lies Are Free ---

COVID-19's influence on evolution of accounting ---

Racism:  Whose Music Theory?

CDC:  At least two-thirds of infected nations are linked to travel involving China, Italy, and Iran ---

Why the US Economy Is Stronger Than the Eurozone's ---

Swedish Police, Civilians Working at No-Go Area Police Station to Get Escort ---

Shipment of nearly 20 thousand fake U.S. driver’s licenses from China were just confiscated at Chicago airport ---

Loyola University Maryland is being criticized for removing the name of Flannery O'Connor from a residence hall ---

Our trust in the mainstream economy might be low at the moment. But that’s great for the cryptocurrency market, which has been booming globally during the crisis ---

U.K. Economy Shrinks by More Than Any Other Rich Country, Followed by Spain, France, Italy, Germany, and then the USA ---

South Africa is Being Pushed to the Brink of Economic Disaster ---
Also see


WEALTH Tax hike on California millionaires would create 54% tax rate (from 13.3% now) ---


Jensen Comment
The bite of this tax depends heavily on whether the millionaires can continue to shelter their incomes from the tax rate.

One popular shelter is a pension investment that delays taxation until the funds are disbursed in retirement.
A second popular California shelter is investment in tax-exempt California bonds issued by schools, towns, counties, and development districts.
Probably the most popular shelter is capital gains that are not taxed until realized such as ownership of real estate that changes in value daily but is not taxed until death of the owner or sale of the property.


Subjecting sheltered income to taxation often has huge drawbacks. For example, eliminating the tax-exempt bond financing of schools and municipalities greatly increases cost of capital of these jurisdictions.


Forcing investors to pay annual taxes in cash on capital gains value accruals can raise havoc in the the markets (think farms, vineyards, homes, etc.). If investors don't have the cash to pay taxes on annual value increments investors may be forced to liquidate their investments. Think of a kindergarten teacher who invested $50,000 in a Palo Alto home 40 years ago. Proposition 13 delays property taxes on the value increments of that home. But if the tax officials suddenly want 54% of the value increment in that home in 2020 that teacher most likely will be unable to keep the home because of a lack of cash to pay a cash tax on the annual value accrual.


Of course the high salaried tech workers in Silicon Valley will face an enormous increase in their state income taxes. If they have great labor mobility (which most of them have) many of them will leave the state such as Apple workers who opt to transfer to Apple's $1 billion new plant in Austin, Texas ---
Those Apple employees remaining in California will demand higher wages to pay the increase in taxes. In the end, customers of Apple around the world will pay the taxes due to higher prices on Apple products and services.


Here's a question for students?
Why might most high salaried NBA players prefer to continue to play all their games in Florida even after the lockdown is lifted?
Here's something to think about. When an Orlando Magic player plays in Los Angeles that player will have to pay a 54% income tax for that LA game to the State of California even though the player lives on Florida where there are no state income taxes. If that game is played in Florida (as is the case under the current pandemic) the Orlando Magic player saves all that California tax since that game and all other games are now played in tax-free Florida. I suspect LeBron James and the other hapless California residents still have to pay the 54% even if they play all their games in Florida. This is why California athletes demand higher salaries than players living in lower tax states.



The Atlantic:  The Princeton Faculty’s Anti-Free-Speech Demands
Some of the signers of a controversial open letter don’t stand behind its most alarming demand


Joshua Katz Objects to Princeton University's Open Letter
A Princeton professor has drawn anger from his department and the university’s president after criticizing an open letter signed by faculty members which made extensive “anti-racist” policy requests to combat racism on campus, among which was the curtailment of academic freedom ---

Joshua Katz, a professor of classics at Princeton, published a “declaration of independence” in in Quillette days after more than 350 faculty members called on the university to adopt a series of “anti-racist” actions, some of which Katz says would “lead to civil war on campus.”

In the July 4 Faculty Letter,” the signatories request Princeton’s administration implement measures they say will combat racism, including rewarding “the invisible work done by faculty of color with course relief and summer salary” and removing questions about felony convictions from admissions applications.

One request specifically called for punishment of “racist” academic work, reported Forbes The letter demands a “Constitute a committee composed entirely of faculty that would oversee the investigation and discipline of racist behaviors, incidents, research, and publication on the part of faculty … Guidelines on what counts as racist behavior, incidents, research, and publication will be authored by a faculty committee for incorporation into the same set of rules and procedures.”

While Katz says he agrees with many of the ideas expressed in the faculty letter, he argued that many of the specific changes, if implemented, would stoke chaos and erode public confidence in elite higher education.

“It boggles my mind that anyone would advocate giving people—extraordinarily privileged people already, let me point out: Princeton professors—extra perks for no reason other than their pigmentation,” Katz writes, referencing the calls to reward faculty of color for “invisible work” and with a guaranteed one additional semester of sabbatical.

“Not incidentally, if you believe anti-blackness to be foundational, it is not a stretch to imagine that you will teach the 1619 Project as dogma,” he goes on.

Continued in article

Loyola University Maryland is being criticized for removing the name of Flannery O'Connor from a residence hall ---

Sir Ronald Aylmer Fisher --- https://en.wikipedia.org/wiki/Ronald_Fisher
The great statistician was also a racist who believed in the forced sterilisation of those he considered inferior ---

'Cancel Culture' Is a Dangerous, Totalitarian Trend ---

Bob Jensen's threads on the politically correct goose step in academe ---



From the CFO Journal's Morning Ledger on August 10, 2020

Companies can now use losses incurred before and during the pandemic to offset up to five years of past profits. What makes this moment particularly attractive: Congress is letting companies get refunds of taxes they paid at the 35% corporate rate that existed before 2018 rather than at today’s 21% rate.


Updates on Medical Insurance




Open immigration can’t exist with a strong social safety net; if you’re going to assure healthcare and a decent income to everyone, you can’t make that offer global ---
Paul Krugman


Bob Jensen's threads on health insurance ---


Bob Jensen's Tidbits Archives ---

Bob Jensen's Pictures and Stories

Summary of Major Accounting Scandals --- http://en.wikipedia.org/wiki/Accounting_scandals

Bob Jensen's threads on such scandals:

Bob Jensen's threads on audit firm litigation and negligence ---

Current and past editions of my newsletter called Fraud Updates ---

Enron --- http://faculty.trinity.edu/rjensen/FraudEnron.htm

Rotten to the Core --- http://faculty.trinity.edu/rjensen/FraudRotten.htm

American History of Fraud --- http://faculty.trinity.edu/rjensen/FraudAmericanHistory.htm

Bob Jensen's fraud conclusions ---

Bob Jensen's threads on auditor professionalism and independence are at

Bob Jensen's threads on corporate governance are at


Shielding Against Validity Challenges in Plato's Cave ---

·     With a Rejoinder from the 2010 Senior Editor of The Accounting Review (TAR), Steven J. Kachelmeier

·     With Replies in Appendix 4 to Professor Kachemeier by Professors Jagdish Gangolly and Paul Williams

·     With Added Conjectures in Appendix 1 as to Why the Profession of Accountancy Ignores TAR

·     With Suggestions in Appendix 2 for Incorporating Accounting Research into Undergraduate Accounting Courses

Shielding Against Validity Challenges in Plato's Cave  --- http://faculty.trinity.edu/rjensen/TheoryTAR.htm
By Bob Jensen

What went wrong in accounting/accountics research?  ---

The Sad State of Accountancy Doctoral Programs That Do Not Appeal to Most Accountants ---


Bob Jensen's threads on accounting theory ---

Systemic problems of accountancy (especially the vegetable nutrition paradox) that probably will never be solved ---

Bob Jensen's economic crisis messaging http://faculty.trinity.edu/rjensen/2008Bailout.htm

Bob Jensen's threads --- http://faculty.trinity.edu/rjensen/threads.htm

Bob Jensen's Home Page --- http://faculty.trinity.edu/rjensen/