In the mid-1950s, Sid Caesar, with Imogene Coca, Carl Reiner, and a group of brilliant writers including Mel Brooks, Neil Simon, and later Woody Allen, collaborated on live comedy series, including Your Show of Shows and Caesar's Hour. The episodes often featuring sketches that were hilarious take-offs on movies such as From Here to Eternity and Sunset Boulevard. You can finally see those shows again, but only on DVD. For decades, Caesar resisted syndication because the sketches (some ran twenty minutes) would have to be sliced up for commercials, which he thought would ruin them.
In the mid-1970s, Lorne Michaels assembled a team of terrific comics and launched Saturday Night Live , which with ups and downs still appears and occasionally scores a satirical bull's-eye. In the 1980s and early 1990s, Dana Carvey mastered George H. W. Bush and H. Ross Perot. In 2008, Tina Fey nailed Sarah Palin. But for the most part, SNL's programming has been less political than comic (and at least to me, rarely funny enough to stay up late for).
And then there is The Daily Show with Jon Stewart, which Stewart has been doing since 1999. It is taped live (and only very rarely are there re-takes). It appears four nights a week for forty-two weeks a year. Stewart and his team are descendents of the sketch masters of Caesar and company. They have adapted some of the "faux" news style of SNL's "Weekend Update" and political commentary. But if you are old enough to have watched the evolution of live television over the previous fifty years, there is no question that Stewart is the champ for wit, edge, and endurance. Caesar was a genius, but he was constrained by his era from letting loose on politicians and most of the other cultural anomalies of the time. Remember, in the 1950s, you couldn't even say "pregnant" on television.