Stop them before they debate again.

You don’t need The Weathermen to know which way the wind blows: This thing is over, and has been for weeks and weeks now. But, ABC held a debate tonight in Philadelphia anyway, and, man, it was a tough slog. [Transcript.] Moderators Charlie Gibson and George Stephanopoulos endlessly trafficked in inanities. (The Weather Underground? Really?) Sen. Clinton found no level she couldn’t passive-aggressively sink beneath: Cringeworthy throughout, she name-dropped Farrakhan and channeled 9iu11iani whenever possible (see, for example, her answers on Jeremiah Wright and Bill Ayers, and she got in Ahmadinejad’s recent remarks as well.) And Sen. Obama seemed tired, a bit rusty, and, after 45 shallow minutes of idiotic gotcha, (justifiably) ticked. (But I thought he still came through in the clutch anyway.)

The only news made tonight? ABC is rather terrible at this whole debate thing. Tonight was basically a fiasco. From Stephanopoulos questioning Obama on flag pins to the tut-tutting about affirmative action to George getting questions from Sean Hannity to Gibson trying to wrest a “no new taxes” pledge from the candidates, virtually every minute tonight was occupied with trite Republican nonsense. Oh, and Gibson’s dim remark at the Manchester debate that two-professor families make $200,000 a year was not a fluke. Apparently, the guy knows less about the economy than John McCain. Tonight he informed us that there “are a heck of a lot of people” making between $97,000 and $200,000 these days. If by “heck of a lot” you mean 14% of the US, well, ok. But some might consider 1 in 7 a rather small minority of the total population, and thus argue that our tax policy should keep the other, more-likely-to-be-struggling 6 out of 7 in mind. Sheesh…less than a week and our friends in the pundit world have already abandoned their newfound blue-collar bitterness.

At any rate, no news or game-changers to speak of. Sen. Obama is still our nominee, Sen. Clinton is still grappling with that fact. If you didn’t watch this tonight, you chose wisely. Update: Having run ABC’s gauntlet of idiocy, Obama brushes his shoulders off, puts distractions on notice, and says no to more debates.

Nice work if you can get it.

“‘We’ve come a long way from Harry Truman,’ said Leon E. Panetta.” At long last, the Clintons release their tax returns (to Drudge first), and the total post-White House tally amounts to $109 million, “with the former president collecting nearly half of that money as a speaker hired at times by companies that have been among his wife’s most generous political supporters.” The numbers are still being parsed, and the connections to key members of Clintons’ post-presidential rogues gallery — Ron Burkle, Vinod Gupta, the Quellos Fund, etc. — itemized and assessed. Still, the news that leaps off the page here is [a] the Clintons have done very well for themselves since leaving the White House, and [b] speechifyin’ pays top dollar in certain circles. “Sen. Clinton’s financial disclosure forms have offered a glimpse into her husband’s speaking career and the nexus between his clients and her campaign donors. The New York investment giant Goldman Sachs paid him $650,000 for four speeches in recent years…On one day in Canada, he made $475,000 for two speeches, more than double his annual salary as president.“

Now, how ’bout those Foundation records?

Where there’s smoke?

“‘What is the holdup?’ said Sheila Krumholz of the Center for Responsive Politics, a nonprofit group that tracks the role of money in politics. ‘She hasn’t exactly made it clear as to what process is making it so cumbersome to just release them.” Campaign finance watchdogs wonder aloud why Sen. Clinton still hasn’t released her tax returns for the past seven years. “‘This is a level of disclosure the American people have come to expect and deserve from those in the White House, or those who aspire to the White House,’ said Mary Boyle of Common Cause, a government reform advocacy group.” And let’s remember, we’re not talking about her 2007 returns, which may not yet be complete. We’re also talking about the previous six years, which should just be sitting on file, and would take all of five minutes to release to the public. That is, unless there’s something shady therein…

The Wolf who cried Starr.

“I for one do not believe that imitating Ken Starr is the way to win a Democratic primary election for president, but perhaps that theory will be tested.” A Starr is born? Clinton flunky Howard Wolfson makes the implicit explicit and directly likens Senator Obama to independent counsel and GOP bogeyman Ken Starr, suggesting that any criticism of the Clintons must be rooted in the “vast right-wing conspiracy.” Well, Wolfson, I don’t know Ken Starr personally. But, as fate would have it, I wrote the book on Ken Starr. And, news flash, Barack Obama is no Ken Starr. Y’see, I did copious research for And the Horse He Rode In On, and I discovered while doing so that Ken Starr, despite his self-righteous persona, was pretty much your run-of-the-mill hypocritical scumbag of a party hack. Now that doesn’t really describe Sen. Obama very well, but, as it turns out, that is exemplary shorthand for one Howard Wolfson.

Exhibit A: What prompted Wolfson’s “Ken Starr” smear today? That would be the Obama campaign’s call to have Senator Clinton release her tax returns for the past seven years, something she’s continually refused to do despite the fact that it would take all of five minutes to accomplish and is considered relatively standard in political campaigns at any level, let alone a race for the presidency. Now, let’s flashback to 2000 for a sec: Then, Clinton flunky Howard Wolfson was running around with a guy in an Uncle Sam suit demanding that GOP Senate candidate Rick Lazio…wait for it, wait for it…release his tax returns.

Their hypocrisy knows no limits.

Another False Clinton Mailer.

Another state, another patently false mailer. According to TPM‘s Greg Sargent, the Clinton campaign has now blanketed Nevada with the negative mailer above, one which (once again) falsely distorts Senator Obama’s record. It reads: “Nevada families need to keep more of their hard-earned dollars not less…we need a president that will help hard-working families keep more of what they earn.”

It then goes on to read: “Barack Obama. A plan with a trillion-dollar tax increase on America’s hard-working families. Lifting the cap on Social Security taxes to send more of Nevada families’ hard-earned dollars to Washington. Senator Obama said “I think that lifting the cap [on Social Security taxes] is probably going to be the best option.“

So, what’s the problem here? Mainly this: Only somebody who hangs out with the monied likes of Robert Johnson all day could honestly think Senator Obama’s plan involves a tax increase for “hard-working families.” Let’s let Senator Obama explain it:

“Now there’s one more way of solving the problem. And that is raising the cap on the payroll tax. Now what that means is, currently, you only pay Social Security on the first $97,000 of income. Now it turns out that here in Nevada, 97% of the people in Nevada make $97,000 a year or less. So essentially, everybody except 3% — if this was a random sample of Nevada, there are only about 3% of you who make more than that, everybody else, you gotta pay payroll tax on 100% of your income.

Now, what I’ve said is that what we should do is we should adjust the cap, so that billionaires like Warren Buffett are paying more, because right now they’re paying a fraction of 1% of their income to payroll tax. And my answer is, that’s not fair. Why would we have the wealthiest Americans pay such a smaller percentage of the payroll tax when everyone else is
paying basically 100%?

So I propose raising the cap. We might exempt middle class folks for maybe $97,000 for up to $200,000; there might be some exemptions, but those people are making over $200, $250,000, they can afford to pay a little more on payroll tax. So this is what I propose, this is what Senator Clinton is calling a trillion-dollar tax cut on hard-working Americans.”

So, which is it, then? Does Senator Clinton think the top 3% of Nevadans represents the “hard-working families” of the middle-class, or is this another blatant attempt at misinformation disguised to confuse voters about Obama’s real record? If I had to guess, I’m thinking this is the latter, and it’s another disgusting, GOP-worthy lowball.

30 Years of Night.

“On another tape, Pete Kott, the former Republican speaker of the Alaska House of Representatives, crowed as he described beating back a tax bill opposed by oil companies. ‘I had to cheat, steal, beg, borrow and lie,’ Kott said. ‘Exxon’s happy. BP’s happy. I’ll sell my soul to the devil.’” The WP surveys the sinkhole of corruption engulfing Alaska state politics, and the federal probe that threatens to swallow the state’s long-serving Senator, Ted Stevens. “‘It was common knowledge that everything was corrupt,’ said Ray Metcalfe, a former Republican legislator…’It was common knowledge, but nobody wanted to talk about it.‘”

Dont give me that do goody good bulls**t.

Score another one for legalized corruption (and lament anew what passes for Democratic leadership these days): Senate Majority Leader Harry Reid tells private-equity firms they don’t need to fear a tax hike this year. “[P]rivate-equity firms — whose multibillion-dollar deals have created a class of superwealthy investors and taken some of America’s large corporations private — hired dozens of lobbyists, stepped up campaign contributions and lined up business allies to wage an unusually conspicuous lobbying blitz [against a tax hike]…Several prominent lawmakers expressed surprise to find that the managers’ profits, known as carried interest, were taxed as capital gains, for which the rate is usually 15 percent. That is less than half the 35 percent top rate paid on regular income.“

Death and Taxes.

“‘Instead of having all of us pay our fair share, we’ve got over $1 trillion worth of loopholes in the corporate tax code,’ he said. ‘This isn’t the invisible hand of the market at work. It’s the successful work of special interests.” In a speech at Washington’s Tax Policy Center, Barack Obama unveils his tax plan. “The plan means billions in breaks by: nixing income taxes for the 7 million senior citizens making less than $50,000 a year, establishing a universal credit for the 10 million homeowners who make less than $50,000 annually and do not itemize their deductions, and providing 150 million Americans with tax cuts of up to $1,000…Obama proposes funding the tax cuts by closing corporate loopholes, cracking down on international tax havens and increasing the dividend-and-capital-gains tax for the wealthy, he said.“

Meanwhile, not to be outdone, Hillary Clinton unveils her new health care plan. “A Clinton adviser compares the plan’s ‘individual mandate’ — which requires everyone to have health insurance — to current rules in most states that require all drivers to purchase auto insurance…Clinton is the third of the front-running Democratic White House hopefuls to formally unveil her plan, following Sen. Barack Obama, D-Illinois, and former Sen. John Edwards.” Said Edwards of the Clinton plan: “I’m glad that, today, the architect of the 1993 plan has another care proposal — and if imitation is the sincerest form of flattery, then I’m flattered…The lesson Senator Clinton seems to have learned from her experience with health care is, ‘If you can’t beat ’em, join ’em.’ I learned a very different lesson from decades of fighting powerful interests — you can never join ’em, you just have to beat ’em.”

A Taxing Time Ahead.

“‘What strikes me now is the degree to which the fairly fiscally irresponsible policies of the last six years have put Democrats in a box,’ Mr. Greenstein said. ‘They’ve got these large tax cuts in place, they have even larger fiscal problems in the coming decades and they have large unmet needs right now, such as 45 million uninsured people. Addressing all three of those things will be very difficult.’” The NYT discusses briefly how the 2008 Dems are planning to approach Dubya’s tax cuts — As you might expect, everyone agrees that the giveaways to the tiny percentage of wealthiest Americans, those with incomes over $200,000, will have to stop. “‘Yes, we’ll have to raise taxes,’ Mr. Edwards declared in February in one of the first statements by a Democratic candidate on the issue.”

Minimum Overdrive.

Following up on one of the first orders of business of the “100 Hours,” the Senate passes a minimum-wage increase 94-3 for the first time in almost a decade…but not before burdening the House bill with sundry small-business tax breaks to appease the GOP. “House leaders have demanded that the tax measures be stripped from the bill…Rep. Charles B. Rangel (D-N.Y.), chairman of the tax-writing House Ways and Means Committee, said he may have other plans for the $8.3 billion that the Senate would use for business tax breaks.”