When a Tax on the Rich Is Actually a Tax on the Rich


Meet the Press hosted what David Gregory dubbed a “special economic roundtable”  on December 2 that included “CNBC‘s dynamic duo,”  Maria Bartiromo and Jim Cramer. But Bartiromo’s comments about tax increases for the wealthy needed a factcheck. She started by making a familiar conservative point about the so-called “fiscal cliff”– that the White House talks about ending tax cuts for the wealthy, but will not talk about spending cuts: And the fact is that I find it extraordinary that we are zeroing in on this discussion only about taxes, and we do not have this kind of elaborate discussion when […]


It’s All Greek to Them

Greek Prime Minister George Papandreou’s call for a referendum on the EU bailout package seems to have prompted media outlets to rummage through their store of Greek cliches. The Washington Post’s editorial against “Mr. Papandreou’s ill-advised announcement of a referendum” led with a classical reference: Not since the night when soldiers emerged from the belly of a giant wooden horse in ancient Troy has Greece engineered a more stunning surprise. On the CBS Evening News (11/1/11), Mark Phillips weighed in with a culinary metaphor: This was supposed to be the week that world leaders gathered in France to chart the […]


Tea Party: Raging Against the Wall Street/DC Machine?

Time‘s Michael Crowley deserves some credit for saying this about the Tea Party movement, in his piece about how they largely won the debt standoff: The Tea Party movement has proved not only that people can have their own facts but also that they can use them to vast tactical advantage, crashing through the taboos of political convention and changing the game along the way. But in explaining the political origins of the movement, he writes: It is an article of faith in Tea Party circles that Washington and Wall Street are in bed together, colluding for power and profit […]


The Ghost of Anti-Entitlement Crusaders Past

You know, the fact of the matter is we have to change how we do things. We are on an imprudent and unsustainable path in a number of ways. You talk about debtors’ prisons, we used to have debtors’ prisons, now bankruptcy is no taint! Bankruptcy is an exit strategy! Our society and our culture has changed. We need to get back to the opportunity, we need to move away from entitlement, we need to provide reasonable risk but we need to hold people accountable when they do imprudent things. It’s pretty fundamental. –David Walker, CEO of the Peterson Foundation, […]


On CNBC and Rick Santelli’s ‘Losers’

Ryan Chittum of holds up (2/19/09) Rick Santelli’s recent CNBC tantrum as “an example of what’s wrong with a certain kind of financial journalism, the kind where people of like backgrounds spend all day staring at tickers and interviewing each other. As such, Chittum says, “the segment couldn’t more clearly illustrate the disconnect between the financial-services sector, certain financial journalists and, you know, ‘reality’”: What sent Santelli, CNBC‘s hot-air, oops, “On-Air Editor,” over the edge? The homeowner bailout. Of course, he didn’t get himself into nearly this much of a lather over the trillions of dollars we’ve given to […]