Jeff Stein
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Trump weighs restarting economy despite warnings from U.S. public health officials

Trump weighs restarting economy despite warnings from U.S. public health officials

President Trump on Monday said he is considering scaling back steps to constrain the spread of the coronavirus in the next week or two because of concerns that the impact on the economy has become too severe. But loosening restrictions on social distancing and similar measures soon probably would require him to override the internal warnings of senior U.S. health officials, including Anthony S. Fauci, who have said that the United States has not yet felt the worst of the pandemic, according to several people with knowledge of the internal deliberations. Trump said at a news conference...

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March 23, 2020
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The Radical Plan For Taming Capitalism: Give Everyone a Share of Wall Street

The Radical Plan For Taming Capitalism: Give Everyone a Share of Wall Street

The economist Giacomo Corneo is a self-proclaimed socialist. A professor at the Free University of Berlin, Corneo is steeped in the writings of Karl Marx and, in conversation, rattles off the beliefs of the founder of communism. The professor works with Germany’s Greens party. But on perhaps one of the most important economic policy debates of the day — higher taxes on the rich and corporations — Corneo voices the types of concerns not typically raised by economists on the left. “We have to recognize that the traditional instruments of taming capitalism — taxes and transfers to equalize...

August 30, 2019
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Barack Obama just blasted the Senate health bill as a “massive transfer of wealth” to the rich

Barack Obama just blasted the Senate health bill as a “massive transfer of wealth” to the rich

Former President Barack Obama came to the defense of his health care legacy, the Affordable Care Act, on Thursday a few hours after Senate Republicans released their bill to repeal it. In a Facebook post, he criticized Senate Republicans’ health care bill as “a massive transfer of wealth from middle-class and poor families to the richest people in America.” “It hands enormous tax cuts to the rich and to the drug and insurance industries, paid for by cutting health care for everybody else,” Obama said. He added that it would cost millions their health insurance: “Discrimination based on...

June 22, 2017
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Facebook’s Zuckerberg pushes back against Bernie Sanders’s call to abolish billionaires

Facebook’s Zuckerberg pushes back against Bernie Sanders’s call to abolish billionaires

Facebook CEO Mark Zuckerberg appeared to defend the existence of billionaires on Friday, pushing back against Sen. Bernie Sanders’s assertion that nobody in America deserves to be a billionaire. Zuckerberg, who is worth more than $70 billion, seemed to express concern in an interview on Fox News that eliminating billionaires in America would stifle competition between private and public actors in funding scientific research and philanthropy. Zuckerberg did express uneasiness about levels of wealth inequality in the U.S. and said he doubted whether vast fortunes were deserved in a “cosmic...

October 25, 2019
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Biden faces pressure from Pelosi, Sanders over whether to double down on Obamacare or expand Medicare

Biden faces pressure from Pelosi, Sanders over whether to double down on Obamacare or expand Medicare

The White House is facing diverging pressure from two powerful allies — House Speaker Nancy Pelosi (D-Calif.) and Senate Budget Committee Chairman Bernie Sanders (I-Vt.) — over whether to use an upcoming spending package to strengthen the Affordable Care Act or expand Medicare eligibility.Pelosi’s office is pushing the White House to make permanent a temporary expansion of Affordable Care Act subsidies that were included in the $1.9 trillion stimulus legislation last month, according to a senior Democratic aide who spoke on the condition of anonymity to describe internal...

Apr 12
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Biden says he’s open to compromise with Republicans on $2 trillion infrastructure plan

Biden says he’s open to compromise with Republicans on $2 trillion infrastructure plan

President Biden on Wednesday said he was open to compromise with Republicans on how to pay for his approximately $2 trillion jobs and infrastructure package, but insisted that inaction was unacceptable.His comments, delivered at the White House, reflect how he is quickly recalibrating his political strategy after passing a $1.9 trillion stimulus bill into law without any GOP support. The infrastructure package marks another of his top campaign promises, but it has been met with a torrent of criticism from Republicans, and even some Democrats have appeared squeamish.“Debate is welcome....

Apr 7
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Rift between GOP, corporate America creates opening for Biden’s tax plan

Rift between GOP, corporate America creates opening for Biden’s tax plan

The morning that President Biden introduced his jobs and infrastructure plan, senior White House officials briefed Goldman Sachs CEO David M. Solomon, Bank of America CEO Brian Moynihan and four other chief executives of the country’s biggest banks about the measure.White House officials in a 24-hour period also briefed powerful business groups such as the National Association of Manufacturers, the U.S. Chamber of Commerce and Business Roundtable about the proposal, while also planning outreach to thousands of small businesses. White House senior adviser Cedric L. Richmond and White House...

Apr 19
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White House dramatically increased tax proposal as it sought to address tensions over next big spending plan

White House dramatically increased tax proposal as it sought to address tensions over next big spending plan

ADWhen President Biden’s team began putting together his infrastructure and jobs package this February, the White House National Economic Council circulated an internal proposal calling for about $3 trillion in new spending and $1 trillion in new tax hikes, according to three people with knowledge of the matter.But soon enough, some members of the economic team second-guessed themselves, concerned that the plan could jeopardize the nation’s long-term financial stability. The officials worried that the large gap between spending and revenue would widen the deficit by such a large degree that...

Mar 29
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On infrastructure, lofty ideas are colliding with congressional reality

On infrastructure, lofty ideas are colliding with congressional reality

Rep. Thomas Suozzi (D-N.Y.) says he will oppose President Biden’s infrastructure package if a cap on state and local tax deductions is not erased. “No SALT, no deal,” he said in an interview.Rep. Cindy Axne (D-Iowa) said she has pressed and other officials to add money for biofuel infrastructure, which would help her state. “I am hoping this was an oversight and that they will support it,” she said.Business lobbyists, meanwhile, are privately urging the White House to drop the $400 billion home- and elder-care provisions to cut the bill’s cost and the corporate tax hikes needed to fund it....

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Apr 18
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How Joe Biden tamed the left — at least for now

How Joe Biden tamed the left — at least for now

ADJoe Biden launched the early months of his presidency with a one-two combination that’s gone a long way toward taming the party’s restive left wing: Listen a lot, and back many of the policies that activists have long wanted.The embrace of sweeping liberal ideas is dramatic — with about passed and another proposed, along with new taxes focused on wealthy individuals and companies to help pay for this and additional spending.Those policies have been paired with steady attention from Biden’s top aides, including Chief of Staff Ron Klain, who are in frequent touch with groups that have long...

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Apr 4
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