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The Capital Letter: Biden's Vaccine Blunder


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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 bolstered the message that no economically productive deed should go unpunished.
The
New York Timesprovided some background:
The United States had been a major holdout at the World Trade Organization over a proposal to suspend some of the world economic body’s intellectual property protections, which could allow drugmakers across the globe access to the closely guarded trade secrets of how the viable vaccines have been made. But President Biden had come under increasing pressure to throw his support behind the proposal, drafted by India and South Africa and backed by many congressional Democrats.

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Postal Banking Proposal: Private Sector Already Solved Problem


Postal workers in Carlsbad, Calif., in 2013
(Mike Blake/Reuters)
Senators Kirsten Gillibrand and Bernie Sanders want the Postal Service to tackle a problem the private sector has already solved.
While the idea of offering banking services at post offices continues to excite progressives in Congress, it probably will not appeal very much to its intended customer base if implemented. It is hard to imagine unbanked millennials flocking to their local post office to check their balances and cash checks in today’s digital world.
Senators Kirsten Gillibrand (D., N.Y.) and Bernie Sanders (I., Vt.), along with three House members, are hoping to include postal-banking pilots in the Fiscal Year 2022 budget. In announcing the plan, Gillibrand said:

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