Can You Pass This Fiscal IQ Quiz?

Can You Pass This Fiscal IQ Quiz?

www.prnewswire.com

Comeback America Initiative wants Americans to understand and help solve our fiscal challenges

BRIDGEPORT, Conn., Dec. 8, 2011 /PRNewswire/ -- The Comeback America Initiative has developed a "Fiscal IQ Quiz" which anyone can take to test their understanding of our federal government's serious financial condition and bleak fiscal outlook. The quiz includes two types of questions: ones that test knowledge of fiscal facts (Fiscal Knowledge), - Read link

Take the test here fiscaliq.net...

(visit the link for the full news article)

My comments are this. Most are so polluted with disinformation that most who take this test fail because we love political and economic mythology within our society where everyone is a pseudo expert. Some examples are, "man made global warming is a fact." Another one is "The Fed creates money out of nothing."

So what is your fiscal I.Q., and please be honest when posting your results?



www.prnewswire.com
(visit the link for the full news article)

I failed the Financial Knowledge questions (55%), and aced the Financial Wisdom questions (90%). Hmmm.... not sure if I should be proud or ashamed

Looking over explanations for my wrong answers now. Interesting quiz - thanks for sharing!

reply to post by LilDudeissocool


To those who want to do the test and don't give a damn about the article, visit fiscaliq.net...
Edit: That test (as online tests usually) is based on circular argumentation (of representation). In example (not part of the questionnaire) "this year's deficit is half a trillion dollars, which begs the question: how are we ever going to balance the budget?" Does the spendig generate more money for the taxes or does cutting the general spending generate more savings? That's a goddamed joke!

reply to post by LilDudeissocool


I scored an 85 on the Fiscal Knowledge and 100 on the Fiscal Wisdom section. I would have scored 100 on the first, but the phrasing of one question was misleading. It made an unstated distinction between payroll and income taxes! There were another few that I had to guess on. For example, I knew that "about half" of the US budget went to mandatory "social spending," but they wanted a more precise figure. I was actually surprised at how objective the poll was!

I just took the test. I scored 80 in the first part and 100 in the second part. Odd, that a dyed in the wool liberal could be part of the solution.

FISCAL IQ:
87.5
From the final page:

Your I.Q. is the average of your scores on two parts:
FISCAL KNOWLEDGE SCORE - (Your understanding of the facts regarding our nation's financial condition) Score based on 20 questions.
YOUR SCORE: 75

70-75 – You know some of the fiscal facts, but could do better. It's understandable due to the political rhetoric, myths and false assertions about our nation's financial condition. Be sure to learn more about what you got wrong so you can be more knowledgeable, and be sure to share that knowledge and this quiz with others.

FISCAL WISDOM - (Whether your answers about solutions are in line with a consensus of objective budget experts) Score based on 10 questions.
SCORE: 100

Great! Your views are in line with a consensus of budget experts. You can be part of the solution.

Hey, look at that!
I did good for a Canadian, just looking in from the outside.
I am very good with a budget. I missed a few facts, but I don't even live there, so........

reply to post by LilDudeissocool
hah - overall score 70%, 60% on knowledge and 80% on wisdom.

I got too clever and second-guessed myself assuming trick questions according to what I assumed would be scored as misled & overly-negative perceptions and ended up screwing myself. You should always just go with your gut!

2nd EDIT:
I stick by my views on the revenue & spending question, but I promise to research it further. *nod*

OK, retaking with what would have been my original answers gives a overall score of 90% with 90% on both sections as well, so I only missed one in addition to the spending question I dispute and the percentage of mandatory spending I also missed the first time. Not terrible.

Originally posted by JackTheTripper
reply to post by LilDudeissocool

 

To those who want to do the test and don't give a damn about the article, visit fiscaliq.net...
Edit: That test (as online tests usually) is based on circular argumentation (of representation). In example (not part of the questionnaire) "this year's deficit is half a trillion dollars, which begs the question: how are we ever going to balance the budget?" Does the spendig generate more money for the taxes or does cutting the general spending generate more savings? That's a goddamed joke!

edit on 12-12-2011 by JackTheTripper because: (no reason given)

Absolutely BS test.

Question 1 Based on a through analysis of the facts by his long dead mother Spyder550 is the strongest most handsomest bestest man in the world. T or F Answer T

I'm in Canada but I took the test anyway, here's my results:

FISCAL KNOWLEDGE SCORE - (Your understanding of the facts regarding our nation's financial condition) Score based on 20 questions.

YOUR SCORE: 65

65 - Poor. You have limited knowledge of the facts, and need to improve so that you can be fully engaged in the fiscal debate over America's future. Your score is somewhat understandable given the amount of political rhetoric, myths, and false assertions about our nation's financial condition. Be sure to learn more about what you got wrong so you can be more knowledgeable, and then be sure to share that knowledge and this quiz with others.



FISCAL WISDOM - (Whether your answers about solutions are in line with a consensus of objective budget experts) Score based on 10 questions.



SCORE: 100

Great! Your views are in line with a consensus of budget experts. You can be part of the solution.

reply to post by spyder550

Absolutely BS test.

Is this your way of saying you didn't pass? What questions did you find to be misleading or biased?

reply to post by spyder550


I concurr - total social porn.

reply to post by LilDudeissocool


I scored an 80 but I totally disagree with question 23 for me:

"23. Comprehensive tax reform that reduces tax expenditures (e.g. deductions, exemptions, credits, and exclusions), while at the same time reducing top marginal tax rates, can generate additional revenues above historical levels and should be a key component of any comprehensive deficit reduction strategy. "

Exemptions, credits, and exclusions would help but it is a more difficult question then just that. Lots of companies that run the US work offshore, or offshore most of their profits to get around paying taxes. The loopholes need to be closed.

The way this sounds is like it is trying to remove the credits and deductions from everyone, and that is not a good idea either. Some families rely on their tax refunds to actually get something nice for the family because that is the only time they can afford it.

There are lots of things wrong with our economy, and lots of changes in government and our economy need to happen. What else is there really to say?

I could have done a lot better, but this doesn't suprise me:

Fiscal IQ: 67.5

Fiscal Knowledge: 65

Fiscal Wisdom: 80

Originally posted by JackTheTripper
reply to post by LilDudeissocool

 

To those who want to do the test and don't give a damn about the article, visit fiscaliq.net...
Edit: That test (as online tests usually) is based on circular argumentation (of representation). In example (not part of the questionnaire) "this year's deficit is half a trillion dollars, which begs the question: how are we ever going to balance the budget?" Does the spendig generate more money for the taxes or does cutting the general spending generate more savings? That's a goddamed joke!

edit on 12-12-2011 by JackTheTripper because: (no reason given)

It's about being inline with a consensus of a group of experts. Same thing with the idea that man made global warming is a fact.

It's not a 100% in my view. Number 11 claims that inflation is not a positive on deficit reduction however it does lower it in the abstract. The rest of the questions are pretty sound though, at least according to my opinion.


Btw could you cite an example of which questions are circular arguments in nature, and explain how they are?

reply to post by magicrat


I love sharing this stuff with others when I run across this sort of subject matter.

I got a few wrong myself. I'm no Dave Walker, so I don't feel too bad about it. You shouldn't either.

reply to post by DJW001


I got about what your score is. I have some disagreements with how David Walker see things, but he is the expert after all, and complied a consensus of views among his peers to construct the quiz. That makes the "poll" reasonably objective I think. I mean there is no recognizable pay value in how he constructed the "poll."

reply to post by LilDudeissocool


What a bunch of trash. This is no quiz but a directed poll. Over half of these questions pertain to political philosophy and have nothing what so ever to do with understanding fiscal matters of any kind.

Might want to change the title of the thread, As it stands you will have folks wasting their time thinking that they are actually going to spend a bit of time doing something that might actually generate some insight.

reply to post by alonzo730


The quiz seems to be in the political middle when it comes to its construct. being either a liberal or conservative should not be a factor on the results. There is equal disinformation being spun on both sides when it comes to deficit reduction.

reply to post by snowspirit


I grew up in Michigan not far from Ontario. I watched Canadian TV, Kids in the Hall and all that. Your news carries a lot of US government subject matter as I remember. I bet you know more about this sort of subject matter than most Americans.