Even a Clinton won’t take credit for Clintonism, Ross Douthat writes in NYT: “Clintonism’s left-wing critics offer not-terribly-persuasive critiques. They allege that the 1994 crime bill caused an effectively racist surge in mass incarceration. (It didn’t.) They attack the 1996 welfare reform for immiserating the poor. (Two recessions later, the best evidence still suggests that welfare reform has reduced poverty.) They blame the repeal of Glass-Steagall for causing the 2007 financial crisis. (Its role was modest at best.)…Liberals simply don’t want to believe…that soaring incomes for the 1 percent, their great bugaboo, can coexist with real gains for the middle class – even though the two coexisted in the late 1990s.
They don’t want to put any limits on soaking the rich and their investments — even if that means going way above the tax rates that prevailed during the economy’s last impressive boom.