Megan McArdle, a blogger for TheAtlantic.com who has said she's voting for Obama, slammed the media in an appearance on Reason.tv's "The Talkshow" for not bringing up Sen. Joseph Biden's past as a "corporate sellout." McArdle said that was quite relevant when the Democratic candidates try to oppose financial deregulation in campaign appearances.
"And here is where I am willing to say the media is giving Obama a pass on a bunch of stuff that they shouldn't be ... It's ridiculous that no one is bringing up every time - every time Obama says anything about financial deregulation, Joe Biden's history should be trotted out and it's not and I'm not sure why," McArdle said to host Nick Gillespie.
Surprisingly, the October 21 "View" mentioned Congressman John Murtha’s "my constituents are racist" comments. Though Joy Behar called it a "stupid thing to say," they were much gentler on Murtha than on Michele Bachmann, who stated that Obama has associated with anti-American individuals.
Joy Behar labeled Bachmann a "red baiter" and alluded to the McCarthy era. Whoopi Goldberg asked "it okay for someone to start attacking your beliefs in your country because you don’t agree with their views?" Sherri Shepherd, who has confused historic time lines, recalls growing up in the McCarthy era before other co-hosts reminded her she was not yet born. Even the token Republican, Elisabeth Hasselbeck, would not defend Congresswoman Bachmann.
Is this a case of labeling one anti-American for a simple disagreement? A transcript of a recent "Hardball" interview demonstrates that she clearly alluded to Obama’s associations, William Ayers and Reverend Wright, who are indeed anti-American.
Covering a "sober summit" held in Lake Worth, Florida that "focused on boosting jobs and capping the rising costs of healthcare," Miami Herald's Lesley Clark noted that Sen. Barack Obama was joined on stage by the Democratic governors of the swing states of Colorado, Michigan, New Mexico, and Ohio:
''A crisis like this calls for the best ideas, the brightest minds, the most innovative solutions from every corner of this country,'' said Obama, who invited the Democratic governors of four key election states to share a stage with him, along with a small business owner from Miami, former Federal Reserve chairman Paul Volcker and the CEO of Internet giant Google.
Yet the 2008 Fiscal Policy Report Card by the libertarian Cato Institute found a C-average among those Democratic governors. By contrast McCain supporter Florida Gov. Charlie Crist (R) earned an "A." Michigan's Gov. Jennifer Granholm -- who portrayed Gov. Sarah Palin (R) in Sen. Joe Biden's debate prep -- and Colorado's Gov. Bill Ritter were assigned "D"s for their advocacy of tax hikes (emphasis mine):
On Monday’s Good Morning America, in a fact check of John McCain’s statement that Barack Obama “gives away your tax dollars to those who don’t pay taxes,” reporter Jake Tapper cited the Tax Policy Center’s analysis of the McCain and Obama tax cuts to stamp McCain’s charge “false.”
“Obama's tax cuts only go to people who work, so by definition, it's not welfare. Some working people eligible for Obama's tax cut make so little, they do not pay income taxes. But they do pay payroll taxes and other taxes,” Tapper summarized.
In other words, McCain would have been accurate if he’d said “gives an income tax cut to those who don’t pay income taxes — and pays for it by raising income taxes on those who are already shouldering more than half of the nation’s income tax burden.”
But Monday’s piece illustrated the liberal media’s penchant for analyzing tax proposals according to a liberal yardstick — who gets how big a check from the government — rather than by analyzing how the rival tax policies will contribute to greater prosperity (by helping or hurting economic growth, rewarding or punishing job creation, etc.).
Embarrass Obama, and expect the liberal media to go after you, no matter who you are: That's what National Review journalist Byron York warned early Thursday afternoon.
He was quickly proven right by a story from reporter Larry Rohter in Friday's New York Times, "Real Deal On Plumber Reveals New Slant," in which Rohter took a wrench to Joe Wurzelbacher (aka "Joe the Plumber"), the citizen who dared to question Obama on his tax plan as the Democrat campaigned in his neighborhood in Toledo, Ohio. Obama responded with a classic paleo-liberal cliche: "I think that when you spread the wealth around, it's good for everybody."
That insight into Obama's mindset was politically fascinating, but Rohter buried it in the 11th paragraph of his story, focusing his investigation on such vital matters as "Joe's" actual first name (Samuel) and whether or not he has a plumber's license.
After smearing Joe the Plumber on Friday’s CBS Early Show, co-host Harry Smith turned to a group of his own hand selected ‘average Joes’ to defend Barack Obama’s tax plan: "I'll tell you, we have assembled a panel of 'average Joes.' Joe the plumber, the most famous person in America now. Well, we have five Joes here this morning, from various walks of life, and we're going to put their incomes to the test against the candidates' tax plans and see how it will affect them all." Financial analyst Jennifer Openshaw then proceeded to examine the personal financial situations of each "Joe" and concluded that four of them would save more money under Obama’s tax plan as promoted by his campaign.
Smith did acknowledge these projections were hypothetical: "...according to the Obama tax plan, and this, of course, is subject to passed by Congress...Talk about a pie in the sky." However, he then continued to assume it would be implemented and focused on the first guest, asking Openshaw: "He would do much better with Obama plan?" Openshaw replied: "You bet, he would do a lot better. But under McCain, what's interesting is, you know, he's got that $2,500 health care tax credit...for coverage, you know, you might not be able to cover both you and your son if you have to go find coverage someplace. So that's something to watch out for."
Story after story on the full-year results for the federal budget refers to the size of the full-year deficit for the fiscal year that just ended on September 30 ($455 billion), and how it compares to last year's deficit ($162 billion).
Almost none of them talk about why the deficit ballooned.
I wonder why?
Could it be because the Democrat-controlled Congress of Nancy Pelosi and Harry Reid allowed spending to spiral out of control?
On Thursday’s Anderson Cooper 360 program, CNN senior political analyst David Gergen followed the liberal talking points about how Joe the Plumber’s real first name is Samuel and how he doesn’t have a plumbing license. When host Anderson Cooper asked if John McCain benefitted from the attention on the Ohio laborer, Gergen replied, "Well, I think he was for a while. But I -- when we found out he was Sam the non-plumber, it changed a little bit." Gergen went on to treat Joe Wurzelbacher, who works with plumbing, as if he worked as a McCain campaign surrogate: "...I don't understand why the McCain team didn't vet the guy before they made such a -- you know, made such a focus on him on national television. I can guarantee you that the George W. Bush campaign, you know, which ran a highly disciplined campaign, would have vetted and would have known before he went out there about... his personal status."
On Friday’s CBS Early Show, correspondent Jeff Glor reported on the role of Joe the Plumber, a.k.a. Joe Wurzelbacher, in the presidential campaign: "The McCain campaign is using Wurzelbacher to say their opponent would raise taxes. Though it turns out, Wurzelbacher himself owes nearly $1,200 in back taxes and his annual tax bill would actually go down under Obama's plan." Glor then added: "Obama mocked the McCain strategy."
At the end of Glor’s report, co-host Harry Smith asked: "Yeah Jeff, we're starting to learn a little bit more about Joe/Steven, the Plumber?" Smith mistakenly referred to Wurzelbacher’s first name being Steven, when in fact it is Samuel, and he corrected himself: "Samuel." Glor responded: "A couple of more things about Joe the Plumber -- Samuel, indeed. He is registered to vote. There were some questions about that. He does not have a plumber's license, though. And it turns out his real first name is Samuel. Joe is his middle name." At that moment, an on screen Graphic appeared with the headline: "The Real Joe the Plumber" and listed the details Glor mentioned. On Thursday, co-host Maggie Rodriguez claimed that Wurzelbacher: "...feels like he is being used by the Republican Party as a pawn to make their point..." but offered no direct quote of any such comment.
With 15minutesoffame comes 15 hours of “gotcha” scrutiny -- especially if you’re a voter who has daredto criticize Barack Obama, the liberal media’s Chosen One for president.
Ohio plumber Joe Wurzelbacher has had his 15 minutes of fame, capping it off with an unplanned appearance as the poster boy of populist tax policy in last night’s presidential debate. So now it’s time for the press to turn its sights on him not as a human-interest story but as an investigative subject.
Jonathan Martin of The Politico was among the first out of the gate, with blog posts noting that Wurzelbacher, affectionately known by most of America as “Joe The Plumber,” has a tax lien against him and doesn’t have a plumber’s license. Martin conveniently forgot to mention that the law doesn’t require one.) Bloomberg also has a story on the tax lien, and AP and The Washington Post did their part to make a story out of the “unlicensed” non-story.
It may not have been "huge" when CNBC's Joe Kernen said it but the dude has been on practically every news station by now.
Kernen told chief Washington correspondent John Harwood that the "Joe the plumber" story "would be huge" and even a "bombshell," in any other election year. Kernen said voters "don't care" because they are buying into Sen. Obama's assertion that the Bush tax policies have led to the financial crisis.
"Obviously not everyone out there knows how to connect the dots between the [financial crisis] and tax policy. For some reason the Bush tax policies are being cited by Obama as the reason that we're in this position right now, again and again and again," said "Squawk Box" co-host Kernen Oct. 16.
ABC's "View" co-host Joy Behar dismissively called Joe Wurzelbacher's [Joe the Plumber] dream of owning a plumbing company a "fantasy" on the October 16 program. Co-host Elisabeth Hasselbeck called her out on it (audio available here):
JOY BEHAR, co-host: Joe the Plumber doesn't have a business yet, he's fantasizing about a business he's going to have.
ELISABETH HASSELBECK, co-host: Fantasizing?! This is a man who's trying to realize his hard work.
BEHAR: Excuse me! Fantasizing is a very legitimate term to describe somebody who's predicting the future for themselves. Creative visualization, okay.
HASSELBECK: Fantasizing is a dangerous thing to say because it assumes that it is not attainable.
Joe the Plumber, the ordinary guy who audaciously asked Obama a question about taxes, is caught in the fierce spotlight of media disapproval.
The New York Times Politics Blog "The Caucus" shined a bright, interrogation light into the background of Samuel J.Wurzelbacher (Joe the Plumber) on Oct. 16.
The post by Larry Rohter and Liz Robbins rushed to point out that Joe "is not a licensed plumber." Armed with the statement from Local 50 plumber's union, Rohter and Robbins attacked Joe for "playing games with the world."
But the bloggers were playing games by burying one easy explanation for that fact.
"Unlike some other states, Ohio does not have a formal statewide licensing system for plumbers. But the city of Toledo and other municipalities do," the blog post said 10 paragraphs later.
The Times bloggers also dismissed Joe's question about Obama's tax plan saying, "The premise of his question to Mr. Obama about taxes may also be flawed, according to tax analysts."
Wurzelbacher has become the focal point of the presidential election because of his objections to Obama's plan to boost taxes on people who earn more than $250,000. Ironically, the plumber currently has an income level that would make him eligible for Obama's proposed tax cut rather than the tax increase.
But that doesn't address what impact Obama's tax hikes might have on Wurzelbacher's boss and how new taxes might adversely impact the plumbing company's payroll under an Obama administration.
After noting that Wurzelbacher admitted the company he's hoping to buy doesn't cross the quarter-million threshold, Ibanga seemed perplexed at his anger at the notion of taxing "rich" people for their success:
At the top of Thursday’s CBS Early Show, co-host Maggie Rodriguez claimed that Joe Wurzelbacher, the Ohio plumber who criticized Obama’s tax policy, was upset that McCain mentioned him in Wednesday’s debate: "This is the small businessman first mentioned by John McCain, but then referenced repeatedly by both candidates. I had a chance to speak with Joe after the debate and he told me he did not like being mentioned, he feels like he is being used by the Republican Party as a pawn to make their point..." Despite that assertion, Rodriguez never offered any audio, video, or even a direct quote of Wurzelbacher saying any such thing.
However, in the same sentence, Rodriguez did admit: "...at the same time, he said since he has been thrust into this, he wants America to know that he absolutely disagrees with Senator Obama's tax plan. He says it punishes him for making more money and he even called it Marxist." In the report by correspondent Jeff Glor that followed, such criticism of Obama was backed up as audio of Wurzelbacher talking to Evening News anchor Katie Couric was played: "You know, I've always wanted to ask one of these guys a question and really corner them and get them to answer a question for once, instead of tap dancing around it. And unfortunately I asked the question but I still got a tap dance. He [Barack Obama] was almost as good as Sammy Davis Jr."
On Tuesday’s CBS Early Show, co-host Harry Smith talked to former New York City Mayor Rudy Giuliani and asked about negative attacks in the campaign: "Alright, one of the things that's happened in the McCain campaign over the last couple of days is the personal attacks seem to have at least subsided or quieted down a little bit. Do you think, in the long run, this might actually have been a fatal wound to the McCain-Palin campaign?" Giuliani responded: "I think there's a tendency on the media to blame it more on John McCain and Sarah Palin than on Barack Obama and his campaign but, to me, it's -- you know it's been coming from both sides." To that, Smith sarcastically replied: "Yeah, it's got to be the media's fault." Giuliani laughed and added: "Don't be defensive, Harry."
This is the not the first time Smith has denied Giuliani’s charges of media bias. On September 12, Giuliani criticized the media for attacking Sarah Palin’s experience but not applying similar scrutiny to Barack Obama: "The whole issue of whether she knows world affairs or not, these are questions that were never asked of Barack Obama, never asked of him to this day." Smith angrily denied any such bias: "That's not true. That's not true...That's not true. That is absolutely not true...That is absolutely not true. Those -- all those questions have been asked over the last 19 months." However, Smith himself conducted eight interviews with Obama and only asked two foreign policy questions of the inexperienced Senator.
The stock market is casting a vote of "no confidence" in Barack Obama (D-Ill.) and his Republican opponent is missing an opportunity to slam the freshman senator for an economic agenda that is a rehash of the worst of Presidents Herbert Hoover and Jimmy Carter.
So argued on-air editor Charles Gasparino in an October 13 op-ed in the New York Post, where the CNBC talent mentioned that even Obama's Wall Street backers are nervously telling him to change course on his economic plans (emphases mine):
Overall, his [Obama's] plan includes some of the most lethal tax increases imaginable, including a jump in the capital-gains rate. He'd expand government spending massively, with everything from new public-works projects to increases in foreign aid to a surge in Afghanistan - plus hand out a token $500 welfare check that he calls a tax cut to everyone else.
This is clearly the wrong way to go in the wake of an economic meltdown- yet Obama, for all his talk of how willing he is to compromise, of how he'd bring people together, is sticking to his tax guns.
I know at least one top Wall Street executive, an Obama supporter from the start of his campaign, who has recently urged Obama to rethink his tax plan - and that was before last week's record losses on the Dow.
There has been an unreality in the reports on the falling stock markets for at least the past 10 days. Each day's plunge seems to have been exclusively due to the "global economic crisis" and/or the supposed "freeze on credit."
Oddly enough, the admittedly small bank where I have my business accounts is having absolutely no problem funding mortgage, home-equity, and other loan applications from qualified borrowers -- a fact I confirmed just before posting this entry. With all due respect to the global business press, if there's truly a "freeze," how can that be?
I've put forth an alternative explanation to the media meme a couple of times this week myself, but an editorial at IBDeditorials.com yesterday brought out a major element of what I have been saying much more forcefully and articulately. Remarkably, though the possibility seems pretty obvious to me, and I suspect many others, I have seen no one in the business press covering daily market events even mention the obvious and quite likely alternative that follows.
The editorial, "Investors' Real Fear: A Socialist Tsunami," teases with the plaintive question, "What is it about the specter of our first socialist president and the end of capitalism as we know it that they don't understand?"
The Dow dropped 5,585 points since its high a year ago, banks have been afraid to lend and the government bought billions in toxic mortgage-backed securities. So CBS's "The Early Show" went to some top finance experts to explain what was happening to viewers, right? Nope, they went to kids, Oct. 10.
Weatherman Dave Price talked to fifth graders in Arlington, Va., about the credit crisis, exclaiming, "You wouldn't believe how much they know, sometimes we ought to listen to them and their solutions."
"What one thing does your mom waste money on?" Price asked one student.
"Mmm, smokes, I guess," a fifth grade girl from Glebe Elementary School replied.
Old Media's coverage of the recently-lifted executive and congressional bans on offshore exploration and drilling for oil and natural gas largely overlooked an important element that should have been very relevant to the discussion.
Supporters of lifting the bans surely share much of the blame for only rarely citing it. Though they have frequently noted the hundreds of billions of dollars a years annually sent overseas to pay for oil that could have been extracted here, they have mostly missed a golden opportunity to tell the American people what over a quarter-century of drilling bans has cost the government and taxpayers. They also generally failed to tell us about the windfall that awaits if the end of the offshore and other bans finally leads to appropriately aggressive use of this country's God-given resources.
But if we had inquisitive financial reporters in the business press who were interested in information relevant to the "Drill Baby Drill" debate instead of merely repackaging the press releases they received from those on both sides (the sole exception I found was this Wall Street Journal editorial), many more Americans would have long ago learned about what follows.
Sen. Barack Obama's campaign has put out three new ads in the last few days attacking Sen. John McCain's health care plan, two of which focus on the proposal of a tax credit.
The Obama campaign is telling viewers McCain will tax their health benefits. Sen. Joe Biden, Obama's running mate, told viewers of the October 2 debate the same thing. The mainstream media aren't correcting them.
The accusations are wrong. McCain is replacing one tax break with another - one that is much more generous and will be especially helpful to people who are uninsured.
Here's how McCain's plan works:
If you're insured through your employer: You already are getting a tax break - worth about $4,200 to the average American family. You don't see it because your health insurance - which is part of your compensation package - is tax-free.
McCain's tax credit of $5,000 for a family would replace this $4,200 break you're currently getting - and then some.
Ever since liberal media types felt robbed by the Bush-Quayle campaign’s "lies" about Michael Dukakis in 1988, we’ve been suffering through the media elite’s attempts to "police" the facts in advertisements. "Correction" squads are insisting that John McCain can’t say Barack Obama will raise taxes, no matter how much that announcing Democrats will raise taxes is like announcing the sun will rise.
In 1992, Vice President Dan Quayle suggested Bill Clinton would raise taxes on the middle class. Quayle said in the vice presidential debate that everyone over $36,000 could face a tax hike. Media "experts" accused the GOP of mangling "facts." President Clinton was elected – and passed the largest tax increase in American history, right down to the middle class.
"It was Quayle who repeatedly twisted and misstated the facts," CNN reporter Brooks Jackson had pronounced after the vice presidential debate. On ABC, Jeff Greenfield proclaimed: "Independent examination of this charge by, for example, press organizations, has found it, to say the least, misleading."
"The View" co-hosts, who seemingly have difficulty understanding the Constitution, have demonstrated their lack of understanding in economics. Recapping Friday’s presidential debate on the September 29 edition of "The View," co-host Sherri Shepherd wondered how we can raise taxes. Whoopi Goldberg replied "it’s not going to happen. We are in too much financial trouble. We can’t."
A very brief lesson in economics will explain to the co-hosts that financial crisis may be the time to reduce taxes. It certainly is not the time to raise taxes as Herbert Hoover demonstrated possibly aggravating and prolonging the Great Depression. According to economist Art Laffer, in his theory "The Laffer Curve," sometimes reducing taxes can in fact generate more revenue. While the other "View" co-hosts fretted about taxes, Elisabeth Hasselbeck cited Barack Obama in possibly scaling back on extravagant spending promises.
Conservative opposition to a federal bailout of financial institutions is over campaign donations, not a desire to uphold sound market principles, according to CNBC.
CNBC's chief Washington correspondent John Harwood said Sept. 25 on "Squawk Box" that he had a conversation with "a top Republican member of congress last night" who told him the resistance among conservatives to the $700 billion bailout plan is in part due to Wall Street donations to Democrats.
"‘A lot of our guys have decided that we hate Wall Street ... because they're giving a lot of money to Democrats right now,'" Harwood said he was told by an unnamed source.
"We've talked about how nice the bi-partisan coming together of the far left and the far right to oppose this plan. It was heartwarming, right? That finally brought the fringe elements of both sides together on this," co-host Joe Kernen joked.
Channeling Chris Matthews’ "thrill up my leg" remarks, "View" co-host Joy Behar described acquiring "a little tingle" when former President Bill Clinton appeared on Monday’s show. On the September 22 edition of "Larry King Live" Joy Behar described the former president as "charming," "charismatic," "he touched me a little," and "I got a little tingle."
When questioning why Barack Obama holds the elitist label and Bill Clinton does not, despite a perceptively similar background, Behar concluded that it must be racism. "The View" co-host seemed to forget that the elitist label primarily stems from Obama’s recorded conversation, at a posh San Francisco fundraiser, describing small town Pennsylvanians and midwesterners as "bitter" "clinging to guns and religion."
Hyping Obama’s background Behar declared Obama "has no sleaze." (Has she also forgotten about Obama’s relationship to Tony Rezko?) Echoing a "what’s the matter with Kansas" talking point, Joy hoped those racists voters would "come to their sense" and vote "their needs."
Notes on Friday night coverage of the Wall Street bail out:
On the NBC Nightly News, the always hyperbolic Jim Cramer saw “Great Depression II” avoided by the rescue effort, anchor Brian Williams raised 9/11 as he contended “this was the kind of jittery week in New York a lot of people had to go back to 9/11 to remember how they felt then,” prompting an “oh, wow” from CNBC's Maria Bartiromo, and Williams passed along how “a Democratic politico said to me this week, if the Democrats do their job, they'll make this 'fundamentals of the economy' quote to McCain what 'mission accomplished' was to President Bush.”
ABC's World News brought up Iraq as David Muir referred to how a man in Manhattan “asked today what about the more than $600 billion already spent on Iraq?” Muir also read an e-mail: “Why make the little people bail out these companies?” Of course, the “little people” won't since they barely or don't pay any income tax. One-third of those who file pay nothing or get money back while the bottom 50 percent ($32,000 down), who earn 12 percent of the total income, pay less than 3 percent of taxes collected. The top 25 percent ($65,000 up) pay 86 percent and the top 1 percent ($389,000) pay 40 percent, so maybe the wealthier will get something for all they put in.
In a September 19 "Good Morning America" preview of a report scheduled to appear on the same day's edition of ABC's "20/20," chief investigative reporter Brian Ross took a few jabs at the rich who had fallen.
Ross called it "the end of a shameful chapter of American history," and although top executives on Wall Street had been hit hard in a way "they never thought was possible ... it's hardly the soup kitchen."
There was also much indignation in the report over the assets of Richard S. Fuld Jr., chairman and chief executive officer of now fallen Lehman Brothers Inc., and Alan Schwartz, the CEO of now "busted" Bear Stearns.