Biden administration

Subterms

    More stories

    • 163 Shares129 Views

      in US Politics

      Biden’s UN speech will try to convince member states that ‘America is back’

      by

      Biden administrationBiden’s UN speech will try to convince member states that ‘America is back’But president will contend with skepticism in wake of Aukus, disagreements over Israel and the chaotic Afghanistan withdrawal Julian Borger in WashingtonMon 20 Sep 2021 16.25 EDTFirst published on Mon 20 Sep 2021 15.13 EDTJoe Biden will make his first speech to the United Nations as president on Tuesday, seeking to “close the chapter on 20 years of war” and begin an era of intensive diplomacy.Biden will however have to contend with hostility from China, an open rift with France and widespread scepticism among UN member states over his commitment to multilateralism following disagreements over Israel, a chaotic withdrawal from Afghanistan, and a nuclear submarine deal that took adversaries and allies by surprise.The White House sees the speech to the UN general assembly as a chance to reclaim the global initiative and convince UN member states that “America is back”, as Biden promised when he took office.It will be followed by a week of bilateral meetings, a US-hosted Covid summit on Wednesday aimed at drumming up more funding for global vaccine distribution, a meeting of leaders of the Pacific-oriented Quad group– India, Australia and Japan – on Wednesday, and a UN security council meeting on climate insecurity on Thursday.“It’s an important, consequential week for President Biden and his leadership on the world stage,” a senior administration official said.Tuesday’s speech, the official added, will “center on the proposition that we are closing the chapter on 20 years of war, and opening a chapter of intensive diplomacy, by rallying allies and partners and institutions to deal with the major challenges of our time.”However, Biden is arriving in New York just days after the disclosure of a new security agreement between Australia, the UK and US, which will involve helping Australia build a fleet of nuclear-powered submarines.The announcement of the Aukus deal has deepened tensions with China, which portrayed it as a hostile act, and with France, which had a contract to supply Australia with French vessels and which was blindsided by Aukus.In his speech, Biden will say he wants to avoid a new cold war with the world divided into blocks.“He believes in vigorous, intensive, principled competition that does not tip over into conflict,” a senior US official said.However, at the start of UN general assembly’s summit week, the UN secretary general, António Guterres, expressed concern that US-Chinese rivalry was stopping progress on urgent global issues.Guterres told CNN that the efforts of US climate envoy John Kerry to reach a compromise with China have “largely failed because the Chinese have said … we cannot have cooperation on climate or anything else”.“I believe that we need to avoid a new cold war, because the old cold war was more easy to manage. It was clear. Now things are more complex,” the secretary general said.Biden starts the week with the added burden of a serious fracture in western cohesion. France is still furious at being taken by surprise by the Aukus agreement and warning there will be further diplomatic fallout.On Monday, Biden was trying to set up a phone call with French president Emmanuel Macron, and US secretary of state, Tony Blinken, was seeking a meeting with his counterpart, Jean-Yves Le Drian, in New York, but the French were being elusive.The state department said the schedules of Blinken and Le Drian were “dynamic”. A French official said no bilateral meeting was planned.Richard Gowan, the UN director for the International Crisis Group, said that the Aukus row “will fit in with a narrative that has emerged around Biden that he talks a good multilateral game, but when it comes to the crunch on a lot of issues he is still a bit of an America First-er.”In May, the US blocked the UN security council from making a statement calling for an end to Israeli-Palestinian violence, while Israel was conducting a bombing campaign aimed at Hamas in Gaza, with heavy civilian casualties.Sherine Tadros, the head of the New York office of Amnesty International, said that Biden will benefit from the comparison with Donald Trump, who was openly hostile to the UN, and delivered bellicose speeches from the lectern.“The bar is low,” Tadros said. “There is no doubt there is reengagement … But when you look at Afghanistan, when you look at the Gaza war, the UN was circumvented by the Biden administration and treated as a Plan B.”In normal times, Biden would have found it easier to smooth over cracks by schmoozing with fellow leaders, but Covid-19 and New York City rules for preventing its spread have made that difficult.He is due to hold only one bilateral meeting in New York on Tuesday, with Australian prime minister Scott Morrison, before returning to Washington, where he will meet Britain’s Boris Johnson.TopicsBiden administrationJoe BidenUnited NationsAukusUS politicsnewsReuse this content More

    • 188 Shares199 Views

      in US Politics

      House Democrats are scared to tax billionaires – that’s a costly mistake | Robert Reich

      by

      OpinionUS taxationHouse Democrats are scared to tax billionaires – that’s a costly mistakeRobert ReichPolitical cowardice means those funding Joe Biden’s ambitious social policy plan want to leave the mega-rich unscathed Sun 19 Sep 2021 01.00 EDTLast modified on Sun 19 Sep 2021 05.30 EDTThis week, House Democrats released their proposed tax increases to fund Joe Biden’s $3.5tn social policy plan.‘Medium is the message’: AOC defends ‘tax the rich’ dress worn to Met GalaRead moreThe biggest surprise: they didn’t go after the huge accumulations of wealth at the top – representing the largest share of the economy in more than a century.You might have thought Democrats would be eager to tax America’s 660 billionaires whose fortunes have increased by $1.8bn since the start of the pandemic, an amount that could fund half of Biden’s plan and still leave the billionaires as rich as they were before the pandemic began.Elon Musk’s $138bn in pandemic gains, for example, could cover the cost of tuition for 5.5 million community college students and feed 29 million low-income public-school kids, while still leaving Musk $4bn richer than he was before Covid.But senior House Democrats decided to raise revenue the traditional way, taxing annual income rather than giant wealth. They aim to raise the highest income tax rate and apply a 3% surtax to incomes over $5m.The dirty little secret is the ultrarich don’t live off their paychecks.Jeff Bezos’s salary from Amazon was $81,840 last year, yet he rakes in some $149,353 every minute from the soaring value of his Amazon stocks, which is how he affords five mansions, including one in Washington DC which has 25 bathrooms.House Democrats won’t even close the gaping “stepped-up basis at death” loophole, which allows the heirs of the ultrarich to value their stocks, bonds, mansions and other assets at current market prices – avoiding capital gains taxes on the entire increase in value from when they were purchased.This loophole allows family dynasties to transfer ever larger amounts of wealth to future generations without it ever being taxed. Talk about an American aristocracy.Biden wanted to close this loophole but House Democrats balked.You might also have assumed Democrats would target America’s biggest corporations, awash in cash but paying a pittance in taxes. Thirty-nine of the S&P 500 or Fortune 500 paid no federal income tax at all from 2018 to 2020 while reporting a combined $122bn in profits to their shareholders.But remarkably, House Democrats have decided to set corporate tax rates below the level they were at when Barack Obama was in the White House. Democrats even kept scaled-back versions of infamous corporate loopholes such as private equity’s “carried interest”. And they retained special tax breaks for oil and gas companies.What’s going on? It’s not that Democrats lack the power. They’re in one of those rare trifectas when they hold the presidency and majorities, albeit small, in the House and Senate.It’s not the economics. Americans have been subject to decades of Republican “trickle-down” nonsense and know full well nothing trickles down. Billionaires hardly need to have their fortunes grow $100,000 a minute to be innovative. And as I’ve stressed, there’s more money at the top, relative to anywhere else, than at any time in the last century.Besides, Democrats need the revenue to finance their ambitious plan to invest in childcare, education, paid family leave, healthcare and the climate.So what’s holding them back?Put simply, Democrats are reluctant to tax the record-breaking wealth of the rich and big corporations because of … the wealth of the rich and big corporations.Many Democrats rely on that wealth to bankroll their campaigns. They also dread becoming targets of well-financed ad campaigns accusing them of voting for “job-killing” taxes.Republicans sold their souls to the moneyed interests long ago, but the timidity of House Democrats shows just how loudly big money speaks these days even in the party of Franklin D Roosevelt.US’s wealthiest 1% are failing to pay $160bn a year in taxes, report findsRead moreThat’s because there’s far less of it on the other side. Through the first half of 2021, business groups and corporations spent nearly $1.5bn on lobbying, compared to roughly $22m spent by labor unions and $81m by public interest groups, according to OpenSecrets.org.Progressive House Democrats will still have a say. Senate Democrats haven’t weighed in. But there’s reason for concern.The looming debate over taxes is really a debate over the allocation of wealth and power. As that allocation becomes ever more grotesquely imbalanced, this debate will loom ever larger over American politics.Behind it will be this simple but important question: Which party represents average working people and which shills for the rich? Democrats, take note.
      Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com
      TopicsUS taxationOpinionUS domestic policyUS politicsBiden administrationDemocratsUS CongressHouse of RepresentativescommentReuse this content More