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The week of May 24: climate change and corporatism, inventing an economic crisis, woke capital, and more.

Print this article President Joe Biden speaks as he tours a Pfizer manufacturing plant producing the coronavirus vaccine in Kalamazoo, Mich., February 19, 2021. (Tom Brenner
/Reuters) The week of May 3: waiving the COVID-19 vaccines’ intellectual-property protections, disappointing jobs numbers, and much, much more. Just in case its tax plans were not evidence enough that the Biden administration has little understanding of the value of incentives, its proposal that intellectual-property protections should be waived in the case of COVID-19 vaccines bolste...

May 2, 2021 | Anomaly of a Recovery John Mauldin John Mauldin is a renowned financial expert, a New York Times best-selling author, and a pioneering online commentator. Each week, over 1 million readers turn to Mauldin for his penetrating view on Wall Street, global markets, and economic history. We did the first Strategic Investment Conference 18 years ago. I remember one of the partners in the firm that cohosted the event telling me as I walked up to the stage, “John, it doesn’t get any better than this. Don’t screw it up.” He was wrong. Every year the attendees told me it was bet...

Another Twist of the Knife: Introducing a New Death Tax Read full article May 1, 2021, 10:29 AM·28 min read The devil is in the details, and while, when it comes to the Biden tax plan, Old Nick is not just lurking in the small print, one particular technical-sounding change proposed by the president is rightly attracting some attention: that is the plan to scrap the long-standing principle that if someone inherits an asset, his or her basis cost in that asset for capital-gains-tax purposes is not the price that the deceased may have paid for it (or its value when it came into the deceased’...

Print this article European Central Bank President Christine Lagarde addresses an event to launch the private finance agenda of the 2020 United Nations Climate Change Conference in London, England, February 27, 2020. (Tolga Akmen/Pool via Reuters) I felt spoiled for choice when it came to a topic with which to preface this week’s Capital Letter. Dogecoin went quite a long way toward the moon, the U.N.’s secretary-general has pushed for a “solidarity” or wealth tax, and digging further into the details of the administration’s planned new corporate-tax regime pro...