The Accidental Tax Cutter in Chief

Join Michael Barbaro and Jim Tankersley on 'The Daily' as they delve into the implications of President Biden's Inflation Reduction Act for the burgeoning electric vehicle (EV) industry. They explore the ambitious $369 billion pledge to climate initiatives and its potential to ignite a manufacturing revolution in the U.S., with heavyweight companies such as Hyundai and Scout leading the charge. Amidst the optimistic outlook, they confront the realities that hinder consumer adoption of EVs, including the stringent requirements to qualify for tax incentives and the market's hesitancy due to high costs and logistical concerns.

Further complicating the EV landscape are the psychological barriers of "range anxiety" and the political uncertainties that could sway the future of EV support. Amidst this nuanced landscape, 'The Daily' unveils the Treasury Department's policy updates—granting leeway for EV leases—and witnesses the unexpected political alliances forming in traditional automotive regions that could cement bipartisan backing for the industry. This episode not only captures the intricacies of consumer behavior and economic strategies but also briefly touches upon how global events, as seen in the Middle East, may affect environmental policies, promising listeners even more substantial discussions in episodes to come.

The left believes that the wealthy do not pay their fair share in taxes. But the facts show the opposite to be true. The wealthiest citizens bear the highest tax burden in the nation and the US tax system is already the most progressive in the world.

In Poverty, by America, social scientist Matthew Desmond writes that the United States, despite its vast wealth and prosperity, suffers from poverty and inequality unseen anywhere else in the developed world.

According to him, poverty in America persists because it benefits many Americans to keep a share of their fellow Americans in a state of want—and he issues a call to arms to readers to examine their role in benefiting from and perpetuating the cycle of poverty.

In this guide, we’ll explore the key points raised by Desmond, including:

• The experience of poverty in America and its devastating social consequences
• The false explanations for why people are poor—and stay poor
• How non-poor Americans benefit from the poverty of their fellow Americans
• The choices we can make—both at a policy and individual level—to empower the poor and eradicate poverty

Throughout the guide, we’ll supplement Desmond’s findings with arguments from other poverty scholars, journalists, and economists—both to provide additional support and context for Desmond’s ideas, and to challenge his conclusions.

What are the greatest threats to democracy today? How do healthy democratic states descend into illiberalism and authoritarian rule—and how can defenders and proponents of democracy prevent this from happening?

In Shortform’s Master Guide to Threats to Democracy, we’ve synthesized the ideas and recommendations of some of the world’s leading political scientists from across the ideological spectrum to bring insight to this important—and timely—question. We’ll explore forces like polarization, the decline of democratic norms, and extreme wealth inequality that combine to weaken and undermine democratic institutions.

We’ll also examine some of the ways proponents of democracy can promote stronger and healthier democratic institutions through specific institutional reforms, new economic policies to combat inequality, and actions at the individual and grassroots levels to overcome the social divisions that corrode democracy.

In April, the Internal Revenue Service (IRS) announced an $80 billion, 10-year strategic plan to shore up operations following years of crippling budget cuts and staff departures. Key goals of the plan are to provide “world-class” customer service to taxpayers and prevent the nation’s richest investors and corporations from continuing to avoid tax payments. But some argue that the IRS has a history of inappropriately targeting them and that the agency’s plans will hurt America’s middle class.

A House Republican has introduced the FairTax Act of 2023, a bill that would replace income and other taxes with a national sales tax. The bill’s proponents argue it would simplify the process of paying taxes, boost the economy, and allow business owners and families to keep their hard-earned money. Critics argue that the bill’s tax code is regressive and would be too difficult to implement.

In Poverty, by America, social scientist Matthew Desmond writes that the United States, despite its vast wealth and prosperity, suffers from poverty and inequality unseen anywhere else in the developed world.

According to him, poverty in America persists because it benefits many Americans to keep a share of their fellow Americans in a state of want—and he issues a call to arms to readers to examine their role in benefiting from and perpetuating the cycle of poverty.

In this guide, we’ll explore the key points raised by Desmond, including:

• The experience of poverty in America and its devastating social consequences
• The false explanations for why people are poor—and stay poor
• How non-poor Americans benefit from the poverty of their fellow Americans
• The choices we can make—both at a policy and individual level—to empower the poor and eradicate poverty

Throughout the guide, we’ll supplement Desmond’s findings with arguments from other poverty scholars, journalists, and economists—both to provide additional support and context for Desmond’s ideas, and to challenge his conclusions.