Are You A True Tea Partier ?

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| By Quarkius
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Quarkius
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Quizzes Created: 1 | Total Attempts: 73
| Attempts: 73
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  • 1/11 Questions

    Free trade is a system where merchants buy $150 parts overseas for $50This part is then sold for $140, driving the domestic merchant out of businessHe then keeps $100 to be saved and reinvested..... overseas.

    • Free trade is in my best interest
    • Free trade is NOT in my best interest
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About This Quiz

Explore your knowledge of historical economic policies with the 'Are You A True Tea Partier? ' quiz. Assess your understanding of pivotal tax and trade policies from the Tea Act of 1773 to the 1950s tax rates, and key figures like Andrew Mellon and Alexander Hamilton.

Are You A True Tea Partier ? - Quiz

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  • 2. 

    Ron Paul supports stronger bank regulations

    • True, Ron Paul hates banks !

    • False, Ron Paul supports the elite !

    Correct Answer
    A. False, Ron Paul supports the elite !
    Explanation
    http://www.c-spanarchives.org/program/294319-1
    Notice how he hides his answer with a rant about the Fed. Sure the Fed should be audited, but, don't be a wolf in sheep's clothing.

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  • 3. 

    Glenn Beck supports selling our national services to international elites.

    • True, who are we to use our own infrastructure ?

    • False, for the people by the people !

    Correct Answer
    A. True, who are we to use our own infrastructure ?
    Explanation
    http://www.youtube.com/watch?v=qi12-CE8Axk&feature=related

    You don't need to be for socialized medicine to see the hypocrisy. That said, who is even for socialized medicine? Talk about a false dichotomy. Public option, non-profit co-ops, good old fashioned reform, cough cough.

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  • 4. 

    HMO's are a creation of the Neo-Con Revolution

    • True, for profit insurance was only 5% of the market in 1950's

    • False, for profit is the american way.

    Correct Answer
    A. True, for profit insurance was only 5% of the market in 1950's
    Explanation
    http://www.bcbs.com/about/history/1950s.html

    Thank Nixon.

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  • 5. 

    Andrew Mellon, treasury secretary during the 1920's had a tax policy of...

    • Cutting Taxes, to strengthen business.

    • Raising Taxes, to strengthen domestic production.

    Correct Answer
    A. Cutting Taxes, to strengthen business.
    Explanation
    It was argued that the wealth would "trickle down", much like the policy of Art Lauffer and Ronald Regan. It was latter exposed that he wanted to "Shake out the Filth". It worked in the 1920's (and today).

    http://en.wikipedia.org/wiki/Andrew_W._Mellon#The_Mellon_tax_trial

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  • 6. 

    What was the top tier tax rate in the 1950's

    • Lower, 20%.

    • Lower, 30%

    • Higher, 50%

    • Higher, 91%

    Correct Answer
    A. Higher, 91%
    Explanation
    http://www.ntu.org/tax-basics/history-of-federal-individual-1.html
    If you give the rich the money and don't tax them, they just run away with the cash. Tax em, force em to spend in domestically, duh. This tax rate lasted until the mid 1970's

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  • 7. 

    What was Thomas Paine's economic view ?

    • Capitalist

    • Libertarian

    • Socialist

    Correct Answer
    A. Socialist
    Explanation
    http://www.thomaspaine.org/Archives/agjst.html

    In this piece Paine argues :
    1) Non of the old testament fathers owned land.
    2) Land is the common property of all men
    3) Land should not be owned (Stuart not Lord)
    4) Poverty is due to the creation of wealth

    He the argues to solve the injustice by a re-distributive death tax.

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  • 8. 

    The Tea Act of 1773 was

    • A tax cut to the benefit of a monopoly

    • A tax on tea placed on the colonies.

    Correct Answer
    A. A tax cut to the benefit of a monopoly
    Explanation
    http://www2.maxwell.syr.edu/plegal/congress/bramblepp1_files/slide0009_image029.jpg
    The Tea act was a drawback on duties and tariffs. This tax cut allowed the East India Trading Company to undersell the american merchants. This is much like how Walmart undercut American merchants in the 1990's with Chinese imports.

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  • 9. 

    What tax policy best supports free trade ?

    • The fair tax (a flat sales tax)

    • The progressive income tax

    • Tariffs

    Correct Answer
    A. The progressive income tax
    Explanation
    http://en.wikipedia.org/wiki/Progressive_tax#History_of_intellectual_debate

    Free trade is the policy of eradicating regressive taxes which inhibit trade, and, replacing them on progressive taxes (namely the income tax) which do not inhibit trade. Adam Smith is my source.

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  • 10. 

    Did Glen Beck supported the bail out ?

    • No, Glenn Beck hates the bail out.

    • True, Glen Beck supported the bail out.

    Correct Answer
    A. True, Glen Beck supported the bail out.
    Explanation
    http://www.oliverwillis.com/2009/09/21/glenn-beck-supported-the-auto-bailout/
    http://www.youtube.com/watch?v=Pr8EPYcLmvQ

    I had a better one, but lost it. This man should be careful. During the French Revolution the aristocracy was decapitated, but, the court jester was given to the Donkey first =).

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  • 11. 

    Which policies were included in the original economic plan of Alexander Hamilton

    • "Bounty" (subsidies) for Infant Industries

    • Government had no rule over private business

    • Limited charters which killed off business naturally

    • A central bank

    • Protectionist duties to regulate trade

    Correct Answer(s)
    A. "Bounty" (subsidies) for Infant Industries
    A. Limited charters which killed off business naturally
    A. A central bank
    A. Protectionist duties to regulate trade
    Explanation
    http://en.wikipedia.org/wiki/Report_on_Manufactures

    Alexander Hamilton's model is linked above.

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  • Current Version
  • Sep 01, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 16, 2010
    Quiz Created by
    Quarkius
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