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MSNBC

It's Day 55 of the Trump presidency, and we still take the bait. MSNBC's Rachel Maddow tweeted before her show last night: "BREAKING: We've got Trump tax returns," implying a cache. It turned out to be two pages, and the White House preempted her by releasing the info first:

  • The White House statement: "You know you are desperate for ratings when you ... push a story about two pages of tax returns from over a decade ago. ... [In 2005,] Trump paid $38 million ... on an income of more than $150 million," an effective rate of 25 percent (more than Romney).
  • Maddow to Lawrence O'Donnell: "I don't think there's any reason to ... expect that this will be the only Trump tax document that ever comes to light. ... [T]he more we learn about this, the closer we're going get to the truth about whether or not his foreign entanglements explain more about what just happened in our election."
  • The story raced onto the front pages of The Times, The Post and USA Today. The Boston Globe's lead story: "Trump releases 2005 tax returns." Um, no.
  • A quick column by CNBC executive editor Jay Yarow pointed out that the fracas amounted to "a nice victory" for Trump: "[T]his story has created the appearance that Trump does in fact make a lot of money, and he pays millions in taxes."
  • N.Y. Times' Michael Grynbaum: "On Twitter, journalists complained that Ms. Maddow had overhyped."

What was the mental opportunity cost?

  • A more consequential MSNBC headline — "GOP SKEPTICISM OF HEALTH PLAN GROWS AFTER CBO REPORT" — got shorter shrift. The two-column lead of today's WashPost is "Trump allies call Ryan's bill 'a trap,'" by Bob Costa and Phil Rucker: "A simmering rebellion of conservative populists loyal to President Trump is further endangering the GOP health-care push." (Wall Street Journal lead story: "GOP Plan Hits Snag With Own Senators.")
  • Over on CNN, we learn that Sen. Sheldon Whitehouse (D-R.I.) said FBI Director Comey promised on March 2 to tell him TODAY whether the FBI is investigating ties between Russia and the Trump campaign.
  • The Fed is expected to raise interest rates today (statement at 2 p.m.; Yellen presser 2:30 p.m.).
  • "Trump's revised travel ban will be scrutinized in federal courtrooms across the country — the day before it is supposed to go into effect."
  • And driving the non-Fed day ... "Polls open in Dutch election that is barometer of populism" — AP/The Hague: "Polling booths opened ... in Dutch parliamentary elections that are being closely watched as a [sign] of the strength of far-right populism ahead of national votes in France and Germany later this year."

We only have so many hours and brain cells. They're a terrible thing to waste.

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Go deeper

Updated 4 hours ago - Politics & Policy

Giuliani associate Lev Parnas convicted of campaign finance crimes

Lev Parnas, a former associate of then-President Donald Trump’s personal lawyer Rudy Giuliani. Photo: Stefani Reynolds/Bloomberg via Getty Images

Florida businessman Lev Parnas was convicted Friday on charges of conspiracy to make foreign contributions to political campaigns, according to multiple outlets.

Why it matters: Prosecutors said Parnas, then an associate of former President Donald Trump's personal lawyer Rudy Giuliani, funneled over $150,000 from a Russian businessman into U.S. campaigns as part of an effort to land licenses in the U.S.'s legal cannabis industry.

Supreme Court agrees to hear challenges to Texas abortion law

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court on Friday agreed to hear two cases challenging Texas' abortion law, which bans the procedure as soon as six weeks into pregnancy, but left the law in place in the meantime.

Why it matters: The court is moving extraordinarily fast on the Texas cases, compressing into just a few days a process that normally takes months. And that schedule means the court will take up Texas' ban a month before it hears another major abortion case — a challenge to Mississippi's own 2018 ban on abortions after 15 weeks.

Officials warn 5 key tech sectors will determine whether China overtakes U.S.

Illustration: Aïda Amer/Axios

U.S. intelligence officials responsible for protecting advanced technologies have narrowed their focus to five key sectors: artificial intelligence, quantum computing, biotechnology, semiconductors and autonomous systems.

Why it matters: China and Russia are employing a variety of legal and illegal methods to undermine and overtake U.S. dominance in these critical industries, officials warned in a new paper. Their success will determine "whether America remains the world’s leading superpower or is eclipsed by strategic competitors."