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☆ Adam Smith’s Solution to Poverty
  + stars: | 2023-06-16 | by ( Rainer Zitelmann | ) www.wsj.com   time to read: 1 min
Wonder Land: Inspired by China and Saudi Arabia, Team Biden's vision for U.S. industrial policy is one in which the government explicitly leads; everyone else follows. Images: AP/AFP/Getty Images Composite: Mark KellyAdam Smith’s last will and testament left his nephew David Douglas feeling disappointed. He received far less than he had hoped, and the will confirmed what Smith’s friends had long suspected: The Scottish economist, who always earned an above-average income, had donated almost his entire fortune to the poor, mostly in secret.
Persons: Mark Kelly Adam Smith’s, David Douglas Organizations: Getty Locations: China, Saudi Arabia, Scottish
☆ Is a U.S. Wealth Tax Constitutional?
  + stars: | 2023-06-14 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Wonder Land: Inspired by China and Saudi Arabia, Team Biden's vision for U.S. industrial policy is one in which the government explicitly leads; everyone else follows. Images: AP/AFP/Getty Images Composite: Mark KellyProgressives have long dreamed of imposing a tax on wealth, and it looks as if an arcane corner of the 2017 tax reform might give them a legal opening. The Supreme Court can shut this constitutional door if it takes up a bad ruling on appeal from the Ninth Circuit Court of Appeals.
Persons: Mark Kelly Organizations: Getty, Mark Kelly Progressives, Ninth Circuit Locations: China, Saudi Arabia
☆ Biden’s State of the Union Was a Bad Bet
  + stars: | 2023-02-09 | by ( Karl Rove | ) www.wsj.com   time to read: 1 min
President Joe Biden considers himself a blue-collar working stiff from middle America. But another side of Scranton Joe was on display in his State of the Union address Tuesday night: a high-rolling gambler. His speech was one gigantic political bet. Team Biden knows that Americans feel both that the economy is in bad shape and that things have gotten worse for their families since he took office. Workers’ wages rose less than prices last year, which probably explains these sour feelings.
☆ Biden promised a reckoning when Saudi Arabia crossed him. 3 months later, it is clear he's backed down.
  + stars: | 2023-01-16 | by ( Tom Porter | ) www.businessinsider.com   time to read: +4 min
President Joe Biden had pledged to hold Saudi Arabia to account over cutting oil supplies. It came after Saudi Arabia and Russia cut oil supplies, sparking inflation fears. In concert with Russia, Saudi Arabia had cut oil production, an economic kick in the shin for the US just in time for the midterm elections. Three months later, Saudi Arabia and its crown prince, Mohammed bin Salman, remain unpunished. Cafiero noted a series of other developments he said had focused minds in both the US and Saudi Arabia on common interests.
☆ House progressive leader Pramila Jayapal calls herself a Biden 'convert,' says he should run for reelection
  + stars: | 2022-11-21 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +1 min
The head of the Congressional Progressive Caucus called herself a Joe Biden "convert." Rep. Pramila Jayapal backed Sen. Bernie Sanders, a Vermont independent, in the 2020 Democratic presidential primary. But she has since found an ally in President Joe Biden, known as a moderate. But she has since found an ally in President Joe Biden, known as a moderate. They're hoping speculation about Klain leaving the White House isn't true, POLITICO reported.
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