News for June 11 — Emergent Solutions Mistakes; Pandemic Grows

Emergent Solutions mistakes cost the world 60 million J&J vaccine doses: https://www.dailymail.co.uk/health/article-9677093/FDA-ordered-Johnson-Johnson-throw-60-million-COVID-19-vaccine-doses.html . Offhand, I’d say Emergent Solutions needs to sell this plant to another operator. WSJ: FDA will approve export of another 10 million J&J doses: https://www.wsj.com/articles/fda-expected-to-approve-export-of-j-j-covid-19-vaccine-doses-from-troubled-plant-11623425257 .

Another problem for J&J: https://www.msn.com/en-us/health/medical/the-us-government-is-blocking-states-from-ordering-johnson-and-johnsons-covid-19-vaccine-so-they-can-clear-their-backlog-of-unused-doses/ar-AAKWjsH?li=BBnb7Kz . The belief that one-and-done would be a significant advantage is not panning out in the US. It still seems to be meaningful in rural areas of less developed countries.

The pandemic is not over: https://www.cbsnews.com/news/covid-19-more-deaths-2021-than-2020/ . The global wave is yet to crest. And between severe underreporting and failure to effectively track variants, we are almost 18 months in without effective management of this crisis. We continue to bet everything on the vaccine-variant race.

Hospitals get time extension to spend COVID relief funds: https://www.wsj.com/articles/biden-administration-to-give-hospitals-more-time-to-spend-covid-19-relief-money-11623427200 .

California COVID restrictions to roll back on June 15: https://kesq.com/news/coronavirus/2021/06/11/gov-gavin-newsom-signs-orders-to-roll-back-coronavirus-rules/ .

Peru elects socialist: https://www.wsj.com/articles/socialist-in-peru-has-all-but-won-presidential-vote-as-pandemic-fuels-despair-11623417118 .

Vermont Republicans join in bipartisan voting expansion: https://abcnews.go.com/Politics/bucking-national-trend-republicans-vermont-back-sweeping-vote/story?id=78209850 . Decision-making based on evidence: What a concept!

Attorney General Garland declares voting rights expansion “central” to democracy: https://www.politico.com/news/2021/06/11/merrick-garland-voting-rights-expansion-493494 . This is completely supported by American history. It is also a logical consequence of Jefferson’s principle reiterated by Lincoln in his Gettysburg Address. “All (persons) are created equal”. We must all remember this as the Republican Party has devolved into the Insurrectionist Party. Lincoln would resign from the party in its current state.

Garland will double the legal staff in the civil rights division: https://www.yahoo.com/news/ag-garland-says-the-justice-department-will-double-manpower-to-fight-voter-suppression-203230727.html . So Garland is not just talking about voting rights. He is taking action to challenge voter suppression laws.

Elizabeth Warren jumps on Bezos: https://www.msn.com/en-us/money/companies/elizabeth-warren-rips-into-jeff-bezos-over-his-upcoming-trip-to-space-hes-laughing-at-every-person-in-america-who-actually-paid-taxes/ar-AAKWGr2?li=BBnb7Kz . This raises two questions. First, given the push for a global corporate minimum tax, shouldn’t there be a (US and/or global) minimum tax on billionaires? Second, couldn’t we enact this tax as a wealth tax as part of our income tax scheme? The second question is based on recent reporting that billionaires avoid income tax by borrowing against their assets. We have an overly complicated tax code. That doesn’t mean tax is that complicated.

Here is an opposing opinion. The problem is, almost every statement is either demonstrably false or an inappropriate analogy: https://www.msn.com/en-us/news/opinion/jonah-goldberg-outrage-over-billionaires-tax-returns-ignores-basic-facts/ar-AAKWiLP?li=BBnb7Kz . It is patently ridiculous to analyze a wealth tax on billionaires by analogy to common personal assets. The comment on “earners” uses income tax data (which proves wealth concentration) to argue against a wealth tax.

The comment on capital gains is truly ignorant. Capital gains are taxed as income, and many of these billionaires pay zero income tax. That is, they pay no capital gains tax, either. One thing is apparent: at this level of factual accuracy and reasoning ability, Mr. Goldberg will never be a billionaire. Well, unless he inherits it, which is another problem. Case in point: Orange Julius.

Social justice reporting dominates Pulitzers: https://www.msn.com/en-us/news/us/reporting-about-racial-justice-and-the-pandemic-dominates-the-pulitzer-prizes/ar-AAKX1Gz?li=BBnb7Kz. Hurrah for the citation to Darnella Frazier for the George Floyd video! It properly recognizes that you may be innocent, but you don’t have to be a bystander.

WSJ: The FBI’s seizure of the pipeline ransom: https://www.wsj.com/articles/how-the-fbi-got-colonial-pipelines-ransom-money-back-11623403981 .

Biden flushes the border wall: https://www.cnn.com/2021/06/11/politics/border-wall-return-funds/index.html . WSJ: More: https://www.wsj.com/articles/biden-administration-plans-to-return-pentagon-border-wall-funds-11623437969 . The military projects are deserving and inappropriately delayed. Housing conditions are deplorable for military families on a number of bases. We do need to protect our borders. However, a “smart wall” would be more effective and is less than 5% of the price of a physical barrier. It also eats up far less private property. Four years of turmoil, and Orange Julius built 52 miles along a 2,500 mile border. What an idiot …

Orange Julius’ DOJ sought phone records of senior Congressional Democrats: https://www.vox.com/recode/2021/6/11/22530070/trump-doj-apple-data-schiff . A DOJ investigation requires a reasonable basis to suspect criminal activity. What was that basis here? The DOJ Inspector General will investigate this mess: https://www.reuters.com/world/us/white-house-denounces-trump-attorney-generals-reported-actions-democrats-phone-2021-06-11/ . Bill Barr says he does not recall being briefed on any such subpoenas: https://www.politico.com/news/2021/06/11/barr-distances-democratic-subpoenas-493491 . But AG approval would be standard policy for a subpoena against senior members of Congress. WSJ: More: https://www.wsj.com/articles/democratic-senators-call-for-ex-attorneys-general-barr-sessions-to-testify-11623427825 . Still more: https://www.wsj.com/articles/the-trump-dojs-leak-investigations-of-house-democrats-and-media-11623442195 .