The lame-duck Treasury secretary seems to want to sabotage Biden’s ability to stave off the pandemic’s economic impacts.
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Millionaires Taxes and other levies on the wealthy are essential—not only for fostering an equitable recovery, but also for reining in the rampant inequality of the pre-pandemic economy.
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History suggests that the battle over the bailout—which is set to be delivered through a once-obscure Treasury Department mechanism called the Exchange Stabilization Fund—has only just begun.
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The thousands of low-wage, hourly, and gig-work employees who are getting sent home amid the crisis need an income guarantee that goes beyond traditional unemployment insurance.
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Ultimately, finding an optimal tax rate for the super-wealthy is a moral and political issue as much as an economic one.