Are You A True Tea Partier ?
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The Tea Act of 1773 was
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A tax cut to the benefit of a monopoly
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A tax on tea placed on the colonies.
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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.
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- 2.
What was Thomas Paine's economic view ?
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Capitalist
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Libertarian
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Socialist
Correct Answer
A. SocialistExplanation
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.Rate this question:
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- 3.
What tax policy best supports free trade ?
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The fair tax (a flat sales tax)
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The progressive income tax
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Tariffs
Correct Answer
A. The progressive income taxExplanation
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.Rate this question:
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- 4.
Which policies were included in the original economic plan of Alexander Hamilton
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"Bounty" (subsidies) for Infant Industries
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Government had no rule over private business
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Limited charters which killed off business naturally
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A central bank
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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 tradeExplanation
http://en.wikipedia.org/wiki/Report_on_Manufactures
Alexander Hamilton's model is linked above.Rate this question:
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- 5.
What was the top tier tax rate in the 1950's
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Lower, 20%.
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Lower, 30%
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Higher, 50%
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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'sRate this question:
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- 6.
Andrew Mellon, treasury secretary during the 1920's had a tax policy of...
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Cutting Taxes, to strengthen business.
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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_trialRate this question:
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- 7.
Ron Paul supports stronger bank regulations
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True, Ron Paul hates banks !
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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.Rate this question:
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- 8.
Did Glen Beck supported the bail out ?
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No, Glenn Beck hates the bail out.
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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 =).Rate this question:
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- 9.
Glenn Beck supports selling our national services to international elites.
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True, who are we to use our own infrastructure ?
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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.Rate this question:
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- 10.
HMO's are a creation of the Neo-Con Revolution
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True, for profit insurance was only 5% of the market in 1950's
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False, for profit is the american way.
Correct Answer
A. True, for profit insurance was only 5% of the market in 1950'sExplanation
http://www.bcbs.com/about/history/1950s.html
Thank Nixon.Rate this question:
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- 11.
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.
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Free trade is in my best interest
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Free trade is NOT in my best interest
Correct Answer
A. Free trade is NOT in my best interestExplanation
Unless you have the "Hamiltonian spending" to replace the outsourced job, you are going to have to buy the displaced worker welfare. Sorry, just how it is.
Maybe next time you would support his job with a tariff.Rate this question:
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Current Version
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Sep 01, 2023Quiz Edited by
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Sep 16, 2010Quiz Created by
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