Prospect Weekend Reads Week of January 23rd Stories from the week you don’t want to miss!
CAROLYN KASTER/AP PHOTO
Rep. Buddy Carter (R-GA) is the
lead Republican behind the reintroduction of congressional "Fair Tax" legislation that would repeal the federal income tax and abolish the IRS.
The Freedom Caucus Has a Harebrained Plan to Jack Up Taxes on the Poor: The Freedom Caucus has proposed a plan to abolish the IRS and federal taxes and replace them with a national sales tax of 30 percent, which would be the greatest upward income redistribution in American history. As Ryan Cooper explains, it's a good thing it won't pass.
A Pitched Battle on Corporate Power: In 2021, President Biden signed an expansive executive order containing 72 actions to increase competition in the U.S. economy. Read David Dayen's deep dive into the Biden administration's progress in reinvigorating anti-monopoly policy.
Wall Street's Big Bet on Rewiring America: In 2019, the city of Ithaca set a goal of going carbon-neutral by 2030. Three years later, Andreessen Horowitz and Goldman Sachs are among numerous private-sector investors with a stake in the city's Green New Deal. Lee Harris reports on what electrification on the local level looks like in practice.
The Myth of Jeffrey Zients: Incoming White House
Chief of Staff Jeffrey Zients owes his entire career in public service to his corporate worldview and connections. As Max Moran illustrates, Zients' dubious past raises questions about his fitness for the job.
Puerto Rican Cities Sue Big Oil for Alleged Racketeering: For decades, oil companies have eluded legal responsibility for carbon emissions and lying about climate change. Now, a novel lawsuit recently filed by 16 Puerto Rican cities could successfully hold them accountable. Ramenda Cyrus has the story.
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