Search Captions & Ask AI

Penn Professor Marc Meredith talks about the Political Landscape following the Mid-Term Elections

November 10, 2010 / 09:10

This episode discusses the upcoming tax cuts, the Tea Party's influence, and the implications for moderates in Congress. Key topics include the expiring Bush tax cuts, the role of the Tea Party, and potential gridlock in the upcoming Congress.

The conversation highlights President Obama's preference to maintain Bush tax cuts for individuals earning $250,000 or less, while Republicans seek broader tax reforms. The uncertainty surrounding tax policy is emphasized, with a focus on the estate tax and upcoming Congressional leadership elections.

The Tea Party's popularity among Republicans and its potential evolution is examined, particularly with Michelle Bachman's candidacy for leadership. The discussion reflects on how moderates fared in the recent elections, noting that many lost their seats regardless of their voting records on controversial legislation.

Gridlock is anticipated in the next Congress, especially regarding healthcare and tax policy. The Republicans are expected to use their House majority to investigate Democrats and pass symbolic votes against healthcare reform.

Overall, the episode provides a detailed analysis of the political landscape as the new Congress approaches, with a focus on the challenges facing moderates and the implications of the Tea Party's rise.

TL;DR

The episode covers tax cuts, the Tea Party's influence, and expected Congressional gridlock ahead of the 2012 elections.

Episode

9:10
00:00:03
[Music]
00:00:17
well I mean the tax cuts are are on the
00:00:20
horizon here and it's going to be even
00:00:21
before the new Congressional leaders
00:00:23
come in it's going to be taken up in
00:00:24
this lame duck session right now and
00:00:26
it's it's pretty unclear to me what uh
00:00:29
what the Democrats are going to do uh
00:00:31
about these expiring Bush tax cuts and I
00:00:34
think that's probably what business is
00:00:35
most most uh in tune to right now uh and
00:00:39
Obama has said his his preference is to
00:00:42
keep the Bush tax cuts for people who um
00:00:45
make $250,000 or less but we also we
00:00:49
also know the Republicans want more than
00:00:51
just that we have expiring uh uh this
00:00:56
year a 0% tax rate on the estate tax
00:00:58
which is go back up to its pre Bush tax
00:01:00
cut levels next year so you just have a
00:01:01
lot of unknowns about about what's going
00:01:04
to happen with tax policy coming up and
00:01:06
I I think the Democrats most likely may
00:01:08
want to to moderate their their platform
00:01:11
a little bit and and probably give a
00:01:12
little bit more after this but I think
00:01:14
it remains to be seen what happens in in
00:01:15
the next six weeks I think anyone's
00:01:17
guess is is as good as mine about that I
00:01:20
think the one the one major difference
00:01:22
about this shift from what we saw in '94
00:01:25
was we don't have both the house and the
00:01:26
Senate going to Republicans the
00:01:28
Democrats will still uh control the
00:01:31
Senate uh and they'll probably work both
00:01:33
ways for them in some
00:01:35
ways having control of of a body is
00:01:38
useful because you get to set the agenda
00:01:40
for things like Supreme Court
00:01:41
nominations this could be very important
00:01:43
on the other hand the Republicans have
00:01:45
some cover now in in the sense that they
00:01:48
can they can do a lot of stuff in the
00:01:49
house that has no real chance of ever
00:01:51
going to the president and they can they
00:01:53
can make the Democrats out to be the bad
00:01:55
guy and Democrats can do the same thing
00:01:56
to the Republicans and somewhat too so I
00:01:58
think there's going to be a lot of
00:02:00
of bills that are pretty separate being
00:02:02
passed by the Senate and the house and
00:02:04
then this makes what we call the
00:02:05
conference committees very important
00:02:07
because this is where the Senate and the
00:02:08
house have to come together and try to
00:02:10
reconcile what the what the two are
00:02:11
doing and uh I think you'll see a lot of
00:02:14
power going to the people on these
00:02:15
conference commities in the upcoming
00:02:16
Congress yeah the Tea Party is really
00:02:18
interesting looking back on the on the
00:02:21
exit polls that came out of polling
00:02:23
people following the when they're
00:02:25
leaving the polling place we asked
00:02:27
people uh what do you think about the
00:02:29
Tea Party and this is essentially just a
00:02:30
new way political scientists like to ask
00:02:33
people what your party ID and this is
00:02:35
almost the exact same question it turned
00:02:36
out Republicans but almost 90% of them
00:02:38
said they like the tea party Democrats
00:02:40
almost 90% of them said they didn't
00:02:42
Independence were kind of down the
00:02:43
middle and so what the Tea Party is is
00:02:46
still pretty IL defined and it'll be
00:02:49
interesting coming up with these uh
00:02:52
Congressional leadership elections the
00:02:54
Republicans are going to elect their own
00:02:55
leaders for the house in in the upcoming
00:02:58
weeks and Michelle Bachman who I think
00:03:00
is thought of one of the the standard
00:03:02
bearers of what many people think the
00:03:05
Tea Party is is running for one of the
00:03:07
leadership positions and seeing how how
00:03:09
she does because so far it seems like
00:03:11
her conservative colleagues in the house
00:03:13
are only lukewarm towards her candidacy
00:03:15
and are are putting more support towards
00:03:18
uh a more traditional Conservative
00:03:20
candidate so what the Tea Party morphs
00:03:22
into I think is going to be interesting
00:03:24
to see and whether it just sort of goes
00:03:26
back into the Republican party or has
00:03:28
has has life of his own and whether we
00:03:29
actually see candidates running as a
00:03:31
third party as tea party candidates in
00:03:33
the 2012 election will be really
00:03:35
interesting to watch yes it was an
00:03:37
interesting question about what what
00:03:39
these elections meant to political
00:03:41
moderates on one hand there was a lot of
00:03:43
political moderates who who lost many of
00:03:45
these were Democrats who were in
00:03:46
districts that John McCain got a
00:03:49
majority of the votes for president but
00:03:50
they managed to win a seat in 2008 uh
00:03:53
and so in some ways this is just
00:03:54
reverting back to in some ways the ways
00:03:57
things should be that Republicans
00:03:58
holding seats and Republican leaning
00:03:59
districts you also had in Pennsylvania
00:04:02
in the Philadelphia area a number of
00:04:03
districts that are very much swing
00:04:05
districts can vote for either Democrat
00:04:06
or Republican candidates these were
00:04:08
places where Democratic moderates not
00:04:10
not blue dog Democrats but Democrat
00:04:12
moderates did lose and I think what's
00:04:14
interesting about it was it seemed to be
00:04:18
at least on initial glance not that
00:04:20
related to how they they voted on the
00:04:22
controversial legislation in the in the
00:04:24
last Congress so even Democrats who
00:04:26
voted for uh against against the
00:04:30
healthcare bill bill or against cap and
00:04:32
trade they were still paying a political
00:04:34
price for being for Democrats despite
00:04:35
their voting history as a political
00:04:37
scientists we find this very interesting
00:04:39
because there's there's past research
00:04:41
that suggests that how you vote on
00:04:43
bills relates back to how your constitu
00:04:46
vote on you and so uh I
00:04:49
think if this goes back to your question
00:04:52
on uh does this mean the end of
00:04:55
moderates in some ways if in fact people
00:04:56
are going to punish the people from the
00:04:58
party uh in charge and not just how you
00:05:01
voted on bills this could be a big
00:05:02
problem for moderates because this makes
00:05:03
it hard for for moderate candidates to
00:05:05
stick out from from their party's
00:05:07
platform so
00:05:09
um you know it remains to be seen what
00:05:12
this means for for moderates in the
00:05:14
upcoming election but certainly in in in
00:05:16
this election moderating your positions
00:05:18
didn't seem to have a whole lot of
00:05:19
electoral benefit though we haven't had
00:05:22
a whole lot of time to go through the
00:05:23
data and in fine too you might find some
00:05:25
some effect there but it certainly
00:05:27
wasn't it didn't mean you voted for you
00:05:29
voted against Healthcare and you're a
00:05:30
Democrat and you survive versus the ones
00:05:32
who who
00:05:33
voted sorry I say that again those who
00:05:35
voted against Healthcare did not survive
00:05:38
any more so than the ones who who did I
00:05:40
guess that was more in the in the
00:05:41
Republican primaries we saw that so you
00:05:42
saw that in Alaska where uh or an
00:05:45
incumbent moderate Senator lost to a
00:05:48
so-called Tea Party candidate you saw it
00:05:49
with Mike Castle losing to Christino
00:05:51
Donal in Delaware um and so I think
00:05:54
it'll be interesting to see going
00:05:55
forward to the 2012 Republican primaries
00:05:58
do you see this trend continue do you
00:06:00
see the Republican Party taking on the
00:06:03
more moderate members of itself in in
00:06:05
the primary elections because I think
00:06:07
had Mike Castle s survived to the the
00:06:10
general election he probably would have
00:06:12
won the seat over o over the Democrat
00:06:14
who eventually won and in Alaska we
00:06:16
actually saw Lisa marowski still win the
00:06:18
seat even though she got beat in her
00:06:19
primary so how much influence are these
00:06:22
Republican primary voters who tend to be
00:06:24
much more conservative than Republicans
00:06:25
overall are going to have in the future
00:06:27
of the Republican party and will will
00:06:30
uh having a a presidential election
00:06:32
bring more moderate Republican voters
00:06:34
out to maybe weaken this this effect so
00:06:37
like we saw in Pennsylvania in in in
00:06:39
2004 I believe or could have been 2002
00:06:41
when Pat Tumi who now is our who now is
00:06:44
our Senator tried to take on ARL Spectre
00:06:46
from the from the right and he he didn't
00:06:48
win um and and that may have been
00:06:50
because they mobilized enough moderate
00:06:51
Republicans Republicans to come vote in
00:06:53
the in the
00:06:54
primary yeah I expect to see a lot of
00:06:57
gridlock coming up in this in this next
00:06:59
two-year cycle I think the Republicans
00:07:00
see this uh particularly with respect to
00:07:03
healthcare and maybe tax policy as a way
00:07:06
of really setting themselves up for the
00:07:07
2012 election so I think one you will
00:07:09
see Congress or the house
00:07:12
specifically we have we have Democratic
00:07:14
congressmen like Char Charlie Wrangle
00:07:16
who have a fair have some ethical issues
00:07:18
in the past Congress Congress or the
00:07:21
house didn't take up investigations I
00:07:22
think you'll definitely see the
00:07:23
Republicans now in the house have have
00:07:26
committees to
00:07:27
investigate what they see as as um
00:07:29
corrupt corrupt Democrats which which
00:07:31
you didn't see because they didn't have
00:07:32
control of of the floor before I think
00:07:34
you'll see a lot of bills passed out of
00:07:36
the house that they think have no chance
00:07:38
of ever becoming law but they'll just be
00:07:40
position taking votes where they want to
00:07:42
say you know we don't like health care
00:07:44
and this is even know this has never has
00:07:46
a chance of actually becoming law this
00:07:47
is going to be our way of showing our
00:07:49
constituents we don't want uh health
00:07:51
care and and the one thing you I think
00:07:52
you might also see is uh the house has
00:07:55
the ability to to control the
00:07:58
Appropriations process so to the extent
00:08:00
they do want to try to uh cut back on
00:08:03
the healthc care law uh I think you'll
00:08:05
see uh them try to use the
00:08:07
Appropriations processes the ways they
00:08:09
can do this because this is where they
00:08:10
have some agenda setting power and may
00:08:11
be able to to do that I also think
00:08:14
outside the Congress you're going to see
00:08:15
a lot of of gridlock at the state level
00:08:19
where you're going to see for example
00:08:22
States going to the if you have a
00:08:23
Republican state attorney general or a
00:08:25
Republican state Governor you may start
00:08:28
uh trying to sue the federal government
00:08:29
saying that you don't want to uh have to
00:08:31
be held up to certain parts of of the
00:08:33
healthc Care law you saw a similar thing
00:08:35
done before with the Democrats With No
00:08:36
Child Left Behind and so I think you'll
00:08:38
see a lot of gridlock not only at the
00:08:39
federal level but you'll see a lot of
00:08:42
contentious uh
00:08:44
partisan uh things coming out of the
00:08:46
States that're they're directed towards
00:08:48
the federal government all with a eye on
00:08:50
trying to get the Republicans back in in
00:08:52
office in 20
00:08:58
2012 for

Episode Highlights

  • The Uncertainty of Tax Policy
    With expiring tax cuts, the future of tax policy remains unclear as Congress approaches a critical session.
    “I think anyone's guess is as good as mine about that.”
    @ 01m 17s
    November 10, 2010
  • The Tea Party's Evolution
    The Tea Party's influence on Republican leadership and its future role in politics is uncertain.
    “What the Tea Party morphs into is going to be interesting to see.”
    @ 03m 22s
    November 10, 2010
  • Challenges for Political Moderates
    Moderate candidates face increasing challenges as voters punish party affiliation over voting history.
    “Moderating your positions didn't seem to have a whole lot of electoral benefit.”
    @ 05m 18s
    November 10, 2010

Episode Quotes

  • What the Tea Party morphs into is going to be interesting to see.
    Penn Professor Marc Meredith talks about the Political Landscape following the Mid-Term Elections
  • Moderating your positions didn't seem to have a whole lot of electoral benefit.
    Penn Professor Marc Meredith talks about the Political Landscape following the Mid-Term Elections

Key Moments

  • Tax Policy Uncertainty01:17
  • Tea Party Evolution03:22
  • Moderate Candidates Struggle05:18

Words per Minute Over Time

Vibes Breakdown

Related Episodes

The Candidates on Taxes: Finding the Devil in the Details
September 11, 2008
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
12:25
The Candidates on Taxes: Finding the Devil in the Details
Cutting the Fiscal Cliff Down to Size
November 09, 2012
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
22:36
Cutting the Fiscal Cliff Down to Size
Jeremy Siegel on Politicians, Prices and a Potential 'Buying
March 05, 2008
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
15:19
Jeremy Siegel on Politicians, Prices and a Potential 'Buying
Wharton Professor Jeremy Siegel: Stocks, the Economy and the Mid-Term Elections
November 10, 2010
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
05:53
Wharton Professor Jeremy Siegel: Stocks, the Economy and the Mid-Term Elections
Wharton Professor Kent Smetters on the Health Care Impications of the Mid-Term Elections
November 09, 2010
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
06:32
Wharton Professor Kent Smetters on the Health Care Impications of the Mid-Term Elections
Jeremy Siegel on the Bear Market and Sky-high Oil Prices
July 09, 2008
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
11:40
Jeremy Siegel on the Bear Market and Sky-high Oil Prices
Obama's Sedate Debate
October 04, 2012
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
07:09
Obama's Sedate Debate
Penn Wharton Budget Model Analyzes Presidential Campaign Proposals & National Debt
August 29, 2024
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
13:49
Penn Wharton Budget Model Analyzes Presidential Campaign Proposals & National Debt
Market Update with Wharton's Jeremy Siegel and Scott Richard
March 14, 2012
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
32:57
Market Update with Wharton's Jeremy Siegel and Scott Richard
The Impact of the Federal Debt on the U.S. Economy
October 02, 2024
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
13:31
The Impact of the Federal Debt on the U.S. Economy
State of the Economy: Entitlements
January 28, 2013
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
14:22
State of the Economy: Entitlements
Health Care Reform: The ACA and Beyond
April 11, 2012
Captions not detected. You can watch the video, but not search it. If you think this is an error, contact support.
22:14
Health Care Reform: The ACA and Beyond