Paul Waldman

Paul Waldman is the Prospect's daily blogger and senior writer. He also blogs for the Plum Line at the Washington Post, and is the author of Being Right is Not Enough: What Progressives Must Learn From Conservative Success.

Recent Articles

What "Not Very Much" Income Is to Mitt Romney

Up until now, Mitt Romney has refused to release his tax returns, something that he surely knew would eventually become an issue. And it isn't too hard to figure out why. When you're struggling to get past your image as an out-of-touch rich guy, having front-page stories about the millions you're pulling in isn't something you'd look forward to. And in Mitt's case, there are really two problems. The first is his income, which we can be pretty sure is in the seven figures. And this is despite the fact that he hasn't actually held a job in years. Unlike people who work for a living, Romney makes money when his money makes him more money. Which leads us to the second problem: the tax rate he pays. Because our tax system treats investment income more favorably than wage income, Romney probably pays the capital gains tax rate of 15 percent on most of his income, as opposed to the 33 percent marginal rate he'd be paying if that money were wages. Which is what Romney was forced to admit...

Incredibly, Mitt Romney Really Is the Republicans' Best Chance

Barring the emergence of, in the immortal words of Louisiana governor Edwin Edwards, a dead girl or a live boy, it's all but certain that Mitt Romney will be the Republican nominee for president. It's safe to say that there aren't too many Republicans deliriously happy about this outcome. Some may be satisfied, some may be pleased, many are disappointed, the majority are resigned, but if there are any Republicans jumping out of their chairs with excitement at the prospect of a Romney nomination, they haven't been located. And what's most amazing about it is that Mitt Romney really is the best they've got. We have to step back and acknowledge just how fortunate Barack Obama is. With unemployment still over 8 percent, under ordinary circumstances you'd expect a sitting president's re-election bid to be all but doomed. But the GOP nominee is going to be an incredibly phony, unappealing guy with not a single evident principle who finds it impossible to relate to Earth humans and embodies...

Out of The Quiet Rooms

AP Photo/John Amis
Even the most disciplined candidate can't get through an entire presidential campaign without uttering at least one or two gaffes, those emblematic statements journalists will mention again and again to provide vivid illustration of his or her character defects. Few candidates are more disciplined than Mitt Romney, but the likely Republican nominee has already built up a small library of such verbal misfires, which could become the signposts of a most enlightening and overdue discussion on which we will now embark. If we're lucky (and Romney is unlucky), that discussion will move beyond the oversimplifications we've gotten used to, and demand that we re-examine some very basic ideas about our economy, like what "business" really represents, how capitalism creates its winners and losers, and what government might do about it. In recent days, Romney has added some doozies to his growing list of cringe-worthy comments. In June, the man worth an estimated $200 million joked to a group of...

Huntsman '16: Catch the Fever

When he first got into the presidential race, I assumed Jon Huntsman was playing a long game. In the 2012, Tea Party-dominated Republican Party, a guy who had worked for the Obama administration and who, though ideologically conservative, was not inclined to treat anyone who disagreed with him as a despicable socialist demon worthy only of spittle-flecked contempt, had no chance of winning, a fact he surely must have understood. So one reasonable path was to run a respectable campaign, watch Mitt Romney lose in the general, and prepare for a strong race in 2016, when conditions would be more favorable. After all, Republicans typically have to run multiple times before they get their party's nomination. In the last four decades, the only Republican who got the nomination on his first try was George W. Bush (and Gerald Ford, but he was president at the time). So it seems like a sensible plan. But there's one hitch: In order for Huntsman '16 to have any chance, the party is going to have...

The Private Sector Is Not Like Government

When Mitt Romney talks about his nongovernmental experience, he tends to reduce it to a simple declaration: "I understand how the economy works." He probably says this to one audience or another a dozen times a day. What he doesn't do is go into any detail about what kinds of insights this deep understanding has brought him to. After all, what he proposes on the economy is the same menu as every other Republican—lower taxes on the wealthy and investors, fewer regulations on business. If his experience in private equity has given him some profound economic wisdom, it's hard to tell what it consists of. The new focus on Romney's time at Bain Capital is giving us an opportunity to ask some well-needed questions not only about him but also about the nature of capitalism and the relationship of business and government. The candidate who claims, "I'm a businessman, not a politician" is a long-standing pet peeve of mine, since it implies that what we really need in government is people who...

Pages