White House Reporter Lacks Basic Economics Skills – Confuses Billions with Millions? | Joe Hoft


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White House Reporter Lacks Basic Economics Skills – Confuses Billions with Millions?

Yesterday the first two pages of President Donald Trump’s 2005 Income Tax Return (Form 1040) were leaked to the press. MSNBC host Rachel Maddow announced that she had the President’s taxes but before her show aired MSNBC alerted the White House about the information, and the White House opted to take the punch out of the report, releasing the major numbers itself shortly before the broadcast — and slamming MSNBC in the process.

The forms showed that the President made $138 million in 2005 and paid $38 million in taxes that year.

Apparently some in the White House Press Corps are not familiar with taxes or economics. When the
forms were released, White House Correspondent and Washington Bureau Chief for American Urban Radio Networks, April Ryan, tweeted:

So in 2005 @POTUS was not a Billionaire. He made in 2005 over 100 million dollars.

In this one tweet, Ms. Ryan shows her utter ignorance of basic economics. For one, when she states that President Trump was not a billionaire she provides no support. The fact that the President reported over $100 million in one tax year in the 2000’s has no bearing on his net worth. As a matter of fact, there is no information in a tax form 1040 that give you any indication of an individual’s net worth. How could she possibly make this assertion with the information provided?

Also, Ms. Ryan is somewhat contradicts herself by noting that the President made over $100 million in 2005. On the one hand she surmises that he’s less than a billionaire but on the other hand she claims he’s gaudy rich making more than $100 million. Which one is it?

It’s scary that individuals like Ms. Ryan are in the White House Press Corps.

Oh, and yes, Ms. Ryan is the same Ms. Ryan who last week interrogated the Gateway Pundit’s Lucian Wintrich outside the White House shortly after Wintrich was accosted by FOX Radio’s Jon Decker.

hat tip Steve

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