Suddenly, Republicans Want to Rein in the Financial Sector. Wanna Guess Why? ...Middle East

The New Republic - News
Suddenly, Republicans Want to Rein in the Financial Sector. Wanna Guess Why?
source : The New Republic ( Middle East ) () 100
Raise your hand if you expected President Joe Biden’s first veto would protect the financial sector from excessive meddling by Congress. I don’t mind admitting this one took me by surprise.There are many areas where political meddling with the financial sector would be a very fine thing. Eliminating the carried interest loophole is way up there. But the private equity industry has stopped that with $600 million in political spending over the past decade. Another desirable type of meddling is President Joe Biden’s proposed quadrupling of the 1 percent tax on stock buybacks. But with Warren Buffet deploying his considerable prestige to defend stock buybacks, the likelihood of enactment is not

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