The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

National Memo Editor-in-Chief Joe Conason appeared on MSNBC’s “PoliticsNation” last night alongside host Al Sharpton and The Washington Post’s Nia-Malika Henderson to discuss President Obama’s announcement that he will push to extend Bush tax cuts for those earning less than $250,000 a year, while letting the wealthiest Americans’ tax cuts expire. While Sharpton recalled the Clinton era, when the former president raised taxes on the wealthy to nearly 40 percent — which created 20.8 million private sector jobs — Conason noted that Sharpton left something out: “When President Clinton came into office, we had what was then considered a huge deficit,” and after Clinton proposed a tax increase, “The Republicans screamed, as you recall. Not one Republican vote…they all said… this will cause a recession, depression, worse. And we know what actually happened.” What happened wasn’t a recession or a depression, but instead, a historic economic surplus.

Visit msnbc.com for breaking news, world news, and news about the economy

On the contrary, the Bush era brought about a tax cut to 35 percent, a loss of 663,000 jobs, and a national debt of $4.9 trillion. Romney and the Republicans are proposing even more extensive tax cuts for the wealthy — haven’t they learned from history? 

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

President Joe Biden

Photo by The White House

Two tiresome realities about being president of the United States: first, everybody blames you for things over which you have little or no control: such as the worldwide price of oil, and international shipping schedules. Should there be too few electronic gee-gaws on store shelves to pacify American teenagers this Christmas, it will be Joe Biden’s fault.

Second, everybody gives you advice, whether you ask for it or not. Everywhere you look, Democrats and Democratically-inclined pundits are tempted to panic. “The cold reality for Biden,” writes New York Magazine’s Jonathan Chait “is that his presidency is on the brink of failure.” A return to Trumpism, and essentially the end of American democracy, strikes Chait as altogether likely.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}