YOU LOVE TO SEE IT: Biden World Flips Off Summers

Biden ignores Larry Summers’ advice, Mitt Romney wants to end childhood poverty, and McKinsey pays a big fine.
YOU LOVE TO SEE IT: Biden World Flips Off Summers
Alex Wong / Getty Images (2009)

By Julia Rock

THINGS THAT YOU LOVE TO SEE:

More States Want Tax The Rich (Institute on Taxation and Economic Policy) — At least nine states are considering budget proposals that would make their tax schemes more progressive, including multiple proposals to tax unearned investment income, a proposal to tax Wall Street financial transactions, proposed taxes on the top 1 percent, and more.

McKinsey Pays For Role In Opioid Crisis(Washington Post)“McKinsey & Company, one of the world’s largest business consulting firms, has agreed to pay $573.9 million in a settlement with 47 states regarding its role in aiding drug companies during the opioid addiction epidemic.”

• Larry Summers Is Out, Jared Bernstein Is In — Harvard economist Larry Summers led the charge for deregulation, which ultimately caused the 2008 financial crisis. In the Obama administration, he fought to limit the size of its stimulus bill, leading to the weakest economic recovery in the post-World War II era. Now, Summers is once again arguing for limiting stimulus. First, he pushed to limit who’s eligible for COVID survival checks — something Democrats are unfortunately considering. Today, Summers published an op-ed arguing Biden’s overall COVID relief bill is too big and could ultimately hurt the economy…

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