COMPANIES LIKE THIS AREN’T GOING TO BOOST GDP …
|| By FITSNEWS || This website has written previously on former Florida governor Jeb Bush‘s big gross domestic product dreams. The “Republican” presidential candidate says his economic plan would create four percent annual GDP growth and 19 million new American jobs over eight years.
That’s a pretty big boast seeing as America’s GDP hasn’t hit four percent in fifteen years …
Anyway, Bush is making his economic case in South Carolina today. However his choice of venues – Nephron Pharmaceuticals – leaves a lot to be desired.
For those of you unfamiliar with this crony capitalist company (which has its roots in Florida), here’s our exclusive report from last fall detailing the taxpayer-subsidized debacle taking place at its West Columbia, S.C. headquarters.
And here’s a follow-up report from earlier this year delving deeper into one of the allegations against the company …
Bottom line? As of last October, Nephron had created less than one-tenth the jobs it promised – at far lower salaries than it promised.
FITS was suspicious of this deal from the beginning – and said so. We published a detailed story regarding its questionable financials – and also wrote extensively about pay-to-play allegations involving Nephron and S.C. governor Nikki Haley. Not only that, we busted Haley in a lie regarding her prior connections to the company’s founders – Bill Kennedy and his wife, Lou Kennedy (who have contributed thousands of dollars to Haley’s political campaigns and who frequently allowed Haley access to Nephron’s private jet).
Bush has made some solid South Carolina visits so far – like when he dropped by one of the special needs schools benefiting from the Palmetto State’s fledgling parental choice program (prompting us to praise his record on promoting academic freedom).
But he’s also made some incalculably dumb visits, too. Like when he joined Haley at a battered woman’s center …. for which the governor previously vetoed funding (we know, we were shocked to learn there was something Haley actually vetoed, too).
Seriously … who is vetting this stuff for Bush?
Nikki Haley?
America is fully capable of achieving four percent annual economic growth – or higher. In fact from 1950-1980, it exceeded that figure seventeen times (and actually exceeded five percent growth twelve times). But as we’ve noted, that was before the era of obscenely big government – before the perpetual expansion of the welfare state and entitlement culture, before the dawn of unchecked crony capitalism, before the radical redistribution of wealth, before Obamacare and before two totally unsuccessful “Wars on Terror.”
Crony capitalism – and its picking of “losers” in the marketplace (like Nephron) – is one of the anchors holding our economy down. And if the American free market is going to “rise” again (an increasingly big “if”), it will do so in spite of such companies – not because of them.
If he really wants to make his GDP boast, Bush should be visiting businesses that are part of the solution … not part of the problem.
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In fact from 1950-1980, it exceeded that figure seventeen times (and actually exceeded five percent growth twelve times). But as we’ve noted, that was before the era of obscenely big government – before the perpetual expansion of the welfare state and entitlement culture, before the dawn of unchecked crony capitalism, before the radical redistribution of wealth, before Obamacare and before two totally unsuccessful “Wars on Terror.”
It was also before Voo Doo , aka “Trickle Down’ economics.
BTW, the New Deal programs were in place LONG before 1950, and the Great Society programs were put in place well before 1980.
LALALA NOT LISTENING LALALA
BTW, the New Deal programs were in place LONG before 1950, and the Great Society programs were put in place well before 1980.
PRO TIP:
Ponzi schemes always work for a while.
SO, you’re not interested in OASDI or Medicare for yourself and your family?
SO, you’re not interested in OASDI or Medicare for yourself and your family?
Careful that them goalposts don’t tip over and hurt someone when you jerk them around like that, Hoss.
“Bush should be visiting businesses that are part of the solution … not part of the problem.”
Yeah, like BMW, Boeing, Michelin, Giti, Bridgestone, and Volvo.
You see, what we need is another smarmy politician dropping by a random small business they couldn’t give two shits about for a quick photo op.
Haley can do no wrong.If she supports Bush then he is okay.I now support Bush too.Bush for pResident 2016!
LMAO!!! LMAO!!!
Bush doesn’t stand a chance in Republican primary.
That’s why he’s the front runner?
But he’s also made some incalculably dumb visits, too. Like when he joined Haley at a battered woman’s center …. for which the governor previously vetoed funding (we know, we were shocked to learn there was something Haley actually vetoed, too).
Read more at https://www.fitsnews.com/2015/06/29/jeb-bush-promoting-economic-growth-in-a-crony-capitalist-disaster-zone/#Yc5gWZ3ESu2CgWIU.99
Just my opinion however FitsNews has NO credibility to talk about this issue.
Flip’s scorecard so far:
Obama care going down: WRONG!
Gay marriage not upheld: WRONG!
Flip/pogo/guest/fc = WRONG!!! NO CREDIBILITY!!! LMAO!!!! LMAO!!!
Flip predicted that SCOTUS would legalize gay marriage and that it would destroy the Democrat Party while electing a Republican President in 2016.
Obamacare/ACA will be repealed in 2017. In fairness some things will be kept…pre existing conditions and children on parents insurance.
Thanks for telling the truth. That’s rare on this site.
Most hard left Senators and Representatives will balk, but some middle dem folks might see the doomsday looming for all dems in 2016 from gay marriage ruling, just to help their party stay alive. Hispanic catholics are going to flock away from this party in droves…just for starters….
And if none of that impresses you, just remember…you’ve been lied to about the numbers of people who support this decision. The GOP is going to beat the dem three legged horse now. So if you give money to the DNC or democratic candidates, you might as well just burn it in your fire place for all the good it’s going to do. Best to place your donations in a GOP candidate whose actual record speaks of middle/sane policies.
70% of Americans support gay marriage. So just how is that doomsday gonna work out. Let’s face it, America has left you behind. Maybe rather than rant you should try and catch up before it’s too late.
Polling on gay marriage is flawed.People are afraid of being labeled as a bigot,sued or boycotted for speaking out against perverted marriage.
Secondly, NOBODY thought this would really happen.This ruling by SCOTUS has middle America in shock.Parents are wondering how they explain to their 7 and 8 year- old why this perversion is a ‘norm’?
Christians will see their religious freedoms eroded and eliminanted.Transgender groups are already demanding new rights.
See New York…
Catholic couple fined $13,000 for refusing to host same-sex …
https://www.lifesitenews.com/news/catholic-couple-fined-13000-…
LifeSite3 days ago – The New York State Division of Human Rights (DHR) has ruled that the …“After communicating the fact that they chose not to hold same-sex marriageceremonies at … But there is another option: The Giffords could file a fresh lawsuit in …“Many people view it as more expansive than the U.S. Constitution in …
Blah blah blah…..facts don’t matter so I make up my own. That how it is Flippy? YOU ARE WRONG! YOU LOST! NO CREDITBILITY! LOL!
You’re lying. In S.C. redefining marriage failed almost 70% to 30%. We don’t want to redefine marriage.
Yeah, like ten years ago…
County clerks in Texas who object to gay marriage can refuse to issue marriage licenses to same-sex couples despite last week’s landmark U.S. Supreme Court ruling requiring states to allow same-sex marriage, Texas Attorney General Ken Paxton said on Sunday.
And none have.
Too late now.
You don’t get to decide on equal protection under the law issues. Now go along and say some prayers, and don’t forget – I Hate Gays Days is this Tuesday at Cracker Barrel off I-26 in Irmo. Hey, notice how Irmo, sounds a lot like homo.
Most Americans Don’t Care…
When homosexuals are truly consenting adults and don’t bother kids, most Americans don’t care. So… Guess what comes next, the homosexual perverts step-it-up a notch and take this tolerance as acceptance.
Don’t care about the American family? Homosexuals will turn it into a LGBT family and pipe it right in to your home, every day, for your kids, on your TV.
Don’t care about your children? The perverts will teach them all the LGBT nonsense disguised as Sexual Orientation, Anti-Bullying, Non-Discrimination, and Orientation. Think you have a choice? As soon as same-sex-is legal, these are MANDATED!
Step aside as incest, polygamy, pedophilia, bestiality and every other type of unnatural, deviant act that can be thought up is taught to children starting as young as kindergarten. How will your kids hold up with a constant, 12 year bombardment of this sexual debauchery.
Yes we do.
Yet when redefining marriage in the image of the liberal courts and the gay activists, has been voted on by THE PEOPLE, it fails over and over.
We don’t vote on Bill of Rights issues. It was established to protect against a tyranny of the majority. Don’t you read?
the tyranny of perverts?
Awe!! Bless your little heart.
Yeah I support Flip too! LMAO!!!!
Nope. Jeb / Marco will not repeal Obamacare. They won’t touch it. It’s too ugly an issue – it would cost them the House. They’ll have enough capital for one legislative item before their first mid-terms – and they’ll go with Amnesty. Via con dios, senor. Yo gusto mi tarjete verde. Gracias.
Yep. No way Obamacare is going to get repealed.
The truth is, the people who support FITSNews seem to be very illogical, and politics-driven. They don’t care about people or what is right. They seem only to care about controlling the weak and gaining political power for themselves. So don’t be surprised at all the hypocrisy and contradictions. As long as they can persuade the less-intelligent to vote their way, they have succeeded.
nobody cares.
But as we’ve noted, that was before the era of obscenely big government – before the perpetual expansion of the welfare state and entitlement culture, before the dawn of unchecked crony capitalism, before the radical redistribution of wealth, before Obamacare and before two totally unsuccessful “Wars on Terror.”
Uhhhh……that was exactly the period of expansion of the welfare state. Welfare spending was roughly 2% of GDP in 1950. By 1980, it was roughly 3.5% of GDP (a decline from 4.0% in the 1970s). In the mid 2000s, welfare spending went up to around 4.5% of GDP, before dropping back to approximately 2.5% of GDP currently.
Further, in 1962, the federal government (including military) had a total of around 5.3 million employees. The total US population in 1962 was around 182 million. By 1968, total federal government employees reached 6.6 million. Today, the Federal government currently has around 4.1 million employees. Taking out the military, in 1962, the Federal government employed 2.4 million people. Today, it employs 2.6 million people. So the US population roughly doubled from 1962 to 2015 (182m to 330m), but the total number of federal employees grew by 8%, yet you claim we’re in some sort of unprecedented “big government” era.
Radical redistribution of wealth? The top tier tax rate in the 1940s reached 94%. Then, during the 1950s-1981s, the top tax rate was over 70%. From 1981-1986, the top tax rate was 50%.
Define “welfare spending”–Jackie and Wil. Without an operational definition we have no idea what you are including in the figures.
…Sound of crickets chirping.
“Welfare” expansion, i.e. our social welfare system, includes Medicare Medicaid, started in the 60s. In fact, the largest income transfer program to the poor is the Earned Income Tax Credit. The biggest giveaway: tax deductions to businesses for employee health care. So again, your definition of welfare? Just please don’t say it includes the tax deduction for IRAs, as one author did
My figures come from here:
http://www.usgovernmentspending.com/welfare_spending
Garbage in, garbage out
(he typed, silently conceding he had been bested)
Bested hell. My first response was that the website is just as worthless as your post because all it says is “welfare”
I accept your apology.
Apologize for your ignorance about the US social welfare system or your inability to be clear and specific? Not today
But wait, Saint Ronnie was elected president in 1980! Are you saying the country was better off before trickle down economics???? Buddy, you need to turn off brain cells one at a time until you forget such sacrilege. You’re getting too smart to be a conservative.
Why doesn’t fits report on South Carolina’s BLS monthly employment. The BLS has been reporting monthly for 39 years, 472 months. In the 5 months of 2015, South Carolina has had 3 of the highest monthly jobs gains ever. The other two ranked 9th and 17th. Every month this year has seen a gain in the Labor force participation rate and the Employment-Population Ratio.
The Bureau of Economic Analysis reports for the first quarter of 2015 that South Carolina’s Personal income grew by 1.2%, which ranks SC 6th highest in the country in percentage gain and higher than the 0.9% national average gain.
I know many of you depend on me to report on South Carolina’s economy, at least on fits, because if it’s good news Will won’t.
BT, Thanks for being more of a true and honest reporter than this site is. You’re a very smart person.
Lexington County has – always does have- the lowest unemployment rate in S.C. And it’s because the county does not attack people who bring jobs to the county. It embraces productivity and progress. People who hire us, and pay us, are not our enemies. It’s those who take our money, our freedom and force their laws on us, when we have rejected. They are who we fear, and with good reason. It’s very backward to hate based your inept politics.
And many work for the state
The state PRODUCES NOTHING, other than a tax bill. If you’re whining about money going to handouts, the “state’ is THE BIGGEST, and most-worthless abuser of taking money for nothing. The state is the most-obvious slave-master there is.
All I said was a lot of people who live in Lexington County have jobs with the State government in Columbia. Geesh!!!
Thank you. I look not only at employment but also the things I depend on to live.
Whether it’s clothes, housing, food, healthcare, electricity, gasoline, transportation, technology and communications, the private sector, so called crony capitalist, one per centers are more responsible for me being able to purchase at a reasonable price the things I need than the government ever could.
Aside from that, it’s the producers, who work in those jobs, who provide far more REAL charity for the have-nots than government provides. Workers and earners not only take care of themselves, and their families, they take care of the victims of government dependency rhetoric, be it voluntarily, or involuntarily. .
part-time working I looked at the draft which said $9958@mk3
…..
http://www.FinanceworkworldsMoney/board/hop...
Bush should have visited Scott Goldsmith at Dixie Republic billed as “The South’s Largest Confederate Store.” I’m sure he would have gotten free air time with Carol on WYFF. ;-)