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Another Edition of Newt was Wrong

SOMETIMES A video is all you need.

From Meet the Press on Sunday:

O’DONNELL: Who said this? ‘The tax increase will kill jobs and lead to a recession, and the recession will force people out of work and onto unemployment, and actually increase the deficit.’ That’s Newt Gingrich, in 1993, on the Clinton tax increase, and those of us who were working on the other side of that tax increase, Newt, have been waiting for your apology for 20 years for being completely wrong about that.
GINGRICH: I don’t agree with you.
O’DONNELL: But the economy soared. No one lost a job because of that tax increase.
GINGRICH: Baloney.
O’DONNELL: There was no recession, you said there would be a recession. There was no recession.
GINGRICH: The fact is, if you look at all the indicators when I was elected Speaker, virtually all of the economic growth occurs after the Republicans take control. Virtually all of the increase in the stock market, in fact all of the increase in the stock market is after the Republicans take control.
O’DONNELL: You did not reduce the rates, Newt. You said the rates would cause a recession.
GINGRICH: When we balanced the budget, we balanced the budget with a tax cut, not a tax increase. Four consecutive balanced budget with a tax cut, not a tax increase.
O’DONNELL: A tiny tax cut compared to the biggest tax increase in history, which is what Bill Clinton did. You didn’t dismantle it.

That Mr. Gingrich was wrong about the Clinton tax increases is an understatement.

Center for American Progress makes the case again for the top 2% tax rates rising to the 39.6% Clinton rates, as well as capital gains going to 28%, like they were under Ronald Reagan, Newt’s hero and the conservative wing’s mentor. Reagan a man who raised taxes plenty in his two terms, 11 times to be exact and according to his own people, beginning with Bruce Bartlett.  Additionally from CAP:

  • Converting tax deductions to tax credits
  • Closing tax loopholes
  • Simplifying the tax system by reducing the number of filers who itemize, repealing the Alternative Minimum Tax, and other reforms

Lawrence O’Donnell put Gingrich in his place, even if Newt Gingrich long ago proved he no longer should even be at the table discussing such things.  That Meet the Press and David Gregory think he does says all you need to know about the Sunday political shows.

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6 Responses to Another Edition of Newt was Wrong

  1. mjsmith December 10, 2012 at 10:22 am #

    There was a recession when Blill Clinton left Office http://en.wikipedia.org/wiki/Early_2000s_recession

    Knowing that Newt “never learned when to shut up” Gingrich and Crazy Larry were on Meet the Press, makesme feel much better about going to Church yesterday.

    I wish people like Jon Hunstman would get invited to Meet the Press. I do not rally care about Newt or any book he is trying to sell.

  2. secularhumanizinevoluter December 10, 2012 at 6:46 pm #

    Clinton left Office with a HUGE surplus, Ireland and England making peace after 600 freakin YEARS of warfare and the Palistinians and Israelis a hairs width away from peace accords…….. period.

    • mjsmith December 10, 2012 at 10:01 pm #

      I remember in 1993 when Arafat and Rabin shook hands at the White House. Clinton took the Peace process from that point back to what we have today. I don’t blame Clinton. The Wye River Accords went through http://en.wikipedia.org/wiki/Wye_River_Memorandum

      Yes, President Clinton was able to build upon the success in negotiations started by President Bush.

      Ireland and England – Much credit has to be given to Tony Blair.

      • mjsmith December 10, 2012 at 10:05 pm #

        George W. Bush had a challenging economy when he took Office that was made much worse after 9/11/2001.

        I am not taking anything away from the tremendous effort, time, and resources President Clinton made trying to resolve the Israeli Palestinian nightmare.

        It was while Bill Clinton was President that Jordan and Israel signed a permanent Peace Treaty http://en.wikipedia.org/wiki/Israel—Jordan_Treaty_of_Peace

        • secularhumanizinevoluter December 11, 2012 at 6:00 am #

          “George W. Bush had a challenging economy when he took Office that was made much worse after 9/11/2001. ”

          Either appalling ignorance or dishonesty…which is it?

          “I am not taking anything away from the tremendous effort, time, and resources President Clinton made trying to resolve the Israeli Palestinian nightmare. ”

          BWAHAHAHAHA! No, just damning with faint praise.

      • secularhumanizinevoluter December 11, 2012 at 5:58 am #

        1.”I remember in 1993 when Arafat and Rabin shook hands at the White House. Clinton took the Peace process from that point back to what we have today. I don’t blame Clinton. The Wye River Accords went through http://en.wikipedia.org/wiki/Wye_River_Memorandum

        From the DAY Bush was inaugurated it was made plain to Israel they would be given a free pass and so the peace process was trashed.

        2.”Yes, President Clinton was able to build upon the success in negotiations started by President Bush.”

        Bullshit…plain and simple BULLSHIT.

        3.”Ireland and England — Much credit has to be given to Tony Blair.”

        Credit to Blair but it NEVER would have happened without Clinton.

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