The Show Notes: A Spectacular Backfire, Janet Yellen Says Don't Worry, & The Fire Tornado
Welcome! The national average for a gallon of gas dropped below $4 per gallon.
Disney+ just increased its prices after posting big operating losses.
HEADLINE: Majority of Americans concerned about Biden’s mental health: new poll
The Post Office is hiking prices just in time for the holiday season. - CNBC
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Clip of the day: Ouch
Not political but super cool:
Yellen Swears 86K New IRS Agents Won’t Target You
Treasury Secretary Janet Yellen is directing the IRS to not use any of the 86,000 new agents provided in the latest spending bill to increase the chances of small businesses or middle class Americans from being audited. The strangly worded command should not come as relief to the middle class as CBS reports that middle and lower class Americans are five times more likely to be audited than the rich.
HEADLINE: IRS seeks armed accountants ready for ‘deadly force’ - Washington Examiner
Who Buys The Inflation Reduction Act?
A new poll released shows 41% of independents and 39% of those who identify as politically moderate believe the Inflation Reduction Act will increase inflation. Only 7% of independents believe the bill will do what the name suggests.
Quote of the day:
Two senior government officials did not mince words when telling Newsweek their unfiltered thoughts on the raid of President Trump’s home.
"What a spectacular backfire… they (the FBI) wanted to punctuate the fact that this was a routine law enforcement action, stripped of any political overtones, and yet [they] got exactly the opposite."
Go read this piece
Ruy Teixeira has a piece titled Hispanic Voters Are Normie Voters. Go read it. Here’s ane excerpt:
Democrats are having a great deal of trouble holding on to Hispanic voters. In 2020, running against Donald Trump for a second time, in the midst of a COVID/economic crisis and after the George Floyd summer of “racial reckoning”, Democrat Joe Biden actually did quite a bit worse among Hispanic voters than Hillary Clinton did in 2016. According to authoritative estimates from Democratic big data firm Catalist, the Democratic advantage among Hispanic voters slipped by a remarkable 16 points (two party vote) between the two elections. That doesn’t mean the Democrats lost the Hispanic vote. Far from it—they still got a solid majority of that group’s vote. But the size of their majority was whittled down considerably and appears to be falling further.
The seriousness of this problem tends to be underestimated in Democratic circles for a couple of reasons: (1) they don’t realize how big the shift has been; and (2) they don’t realize how thoroughly it undermines the most influential Democratic theory of the case for building their coalition.
The rest of the news:
Jobless claims rise to highest level in 2022 - Fox Business
Scoop: Miami mayor eyes White House - Axios
Mortgage rates climb above 5% once again - CNN
Whole Foods CEO John Mackey ‘concerned’ that ‘socialists are taking over’ - NY Post
Trump world gripped with anger, fear and a host of conspiracies about the FBI search - Politico
Democrats’ Inane Stock-Buyback Tax - National Review
Bolton on Iranian assassination plot: ‘This is a real window’ into Tehran government - Politico
Traffic accident fatalities are on the rise. What can be done? - The Week
State, local relief not in cards for residents of high-tax es as House assesses Inflation Reduction Act - CNBC
Dave Portnoy calls out LIV golf players’ lawsuit: ‘Shut up and take your money’ - Fox Business
Coke's latest bizarre flavor is here - CNN
OPEC Cuts Oil-Demand Forecasts as Economic Growth Slows - WSJ (paywall)
Tweets that caught my eye: