Jeff Stein
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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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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April 18, 2021
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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...

April 12, 2021
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White House’s new $1.8 trillion ‘families plan’ reflects ambitions — and limits — of Biden presidency

White House’s new $1.8 trillion ‘families plan’ reflects ambitions — and limits — of Biden presidency

The White House is preparing to unveil a roughly $1.8 trillion spending and tax plan this coming week that includes many of President Biden’s campaign promises but also reflects the daunting challenges facing the administration as it tries to transform the U.S. economy.The “American Families Plan,” set to be released ahead of the president’s joint address to Congress on Wednesday, calls for devoting hundreds of billions of dollars to national child care, prekindergarten, paid family leave and tuition-free community college, among other domestic priorities. It will be at least partially...

April 24, 2021
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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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April 4, 2021
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White House closes in on ‘families plan’ spending proposal centered on child care, pre-K, paid leave

White House closes in on ‘families plan’ spending proposal centered on child care, pre-K, paid leave

White House officials are closing in on a large spending plan centered on child care, paid family leave and other domestic priorities, according to two people aware of internal discussions. The package could amount to at least $1 trillion of new spending and tax credits, though details remain fluid.The American Families Plan, the second part of the administration’s Build Back Better agenda, is expected to be unveiled ahead of President Biden’s address to a joint session of Congress on April 28, the people said. It follows the approximately $2 trillion that the White House introduced this...

April 19, 2021
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Citing his ‘leverage,’ Manchin says White House tax plan must change

Citing his ‘leverage,’ Manchin says White House tax plan must change

ADSen. Joe Manchin III (D-W.Va.) said on Monday he opposes a key part of the White House infrastructure plan, as early objections across the political aisle threatened to cloud the fate of the $2 trillion proposal.Speaking on a West Virginia radio station, Manchin vote against President Biden’s proposal to raise the corporate tax rate from 21 percent to 28 percent, instead saying the rate should be set at 25 percent. Even if all other Democrats support the plan, Manchin’s opposition would likely be enough to kill it because the Senate is split 50-50 between Democrats and...

April 5, 2021
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