This is the Tom Hartman program.

Jamie Diamond is out whining about how his taxes are going to go up under Joe Biden.

No poor Jamie.

You know, his bank took 10 billion dollars in as out whining about how his taxes are

going to go up under Joe Biden.

No poor Jamie.

You know, his bank took 10 billion dollars in 2009 and some amount of that no doubt ended

up at his pocket.

And screw Jamie Diamond, right?

I'll get to that in more detail in just a moment.

But ever since the late 70s and early 1980s, both the Democratic and Republican parties

were operating under a series of essentially economic delusions.

FDR had put us back on the track with classical economics, Adam Smith economics.

It was referred to at the time for a variety of names, Keynesian economics from John Maynard

Keynes, who kind of restated.

He was 20th century's version of Adam Smith, but Adam Smith laid this stuff out in his

book, Theory of Moral Sentiment and Wealth of Nations, literally in 1776, Adam Smith

wrote the book on this, on how an economy should run.

And so FDR was putting America back together and Eisenhower, frankly, in the 1950s.

And there were a few conservative thinkers, well actually what was going on was there was

a bunch of rich people who were very upset about the fact that the top tax rate, the top

income tax bracket was, you know, a 90% rate.

...