My friend and colleague Tom McCabe, who I consider one of the smartest people I know, has been Twittering some interesting stuff lately, in the last few hours especially. He has been posting a list of lies. Here is that list below, ending with #19:
A list of lies. #1: For most Americans, an Ivy League college is more expensive than other private or public colleges.
Lie #2: Most lawyers are wealthy and earn a six-figure income.
Lie #3: Teachers are poorly paid, can be easily fired, and have terrible working conditions.
Lie #4: Most millionaires wear expensive suits, have expensive watches and drive expensive foreign-made cars.
Lie #5: Recycling paper or plastic is a cost-effective way to help the environment.
Lie #6: (hopefully everyone knows this by now): Real estate always goes up.
Lie #7: The stock market returns 8-12% over the long term (real number is more like 5% including dividends.)
Lie #8: Paying to go to a no-name college is an investment, which will pay out much more than it cost in future wages.
Lie #9: Mathematics is about numbers and equations and calculations and algorithms (see http://www.maa.org/devlin/LockhartsLament.pdf)
Lie #10: America is more socially mobile than the Old World (France, Germany, Scandinavia, Spain, Italy et. al.)
Lie #11: Rich people, as a general rule, pay a larger percentage of their income in taxes than middle-class people.
Lie #12: There is a Biblical law prohibiting abortion.
Lie #13: Illiteracy, in the sense of not being able to read and understand newspaper, is essentially nonexistent among Western adults.
Lie #14: Health insurance is a hedge against risk, like package insurance or life insurance (it’s more like a protection racket).
Lie #15: Americans nowadays are freer than Americans in 1900, or most people in third world countries.
Lie #16: America since 1930 is essentially a capitalist, entrepreneurial, free-market society.
Lie #17: Big company mergers and acquisitions generally create value for shareholders.
Lie #18: Most people want to get rich.
# Lie #19: A majority of people who matriculate into college graduate within six years.
How many of these lies do you believe? The only one which really would surprise me is the last one.
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