PAINE IN THE MORNING: 9 things you need to know this Tuesday – March 16th 2021 (LISTEN)


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Biden Is Planning First ‘Major Federal Tax Hike’ In Nearly 30 Years: Report – President Joe Biden is reportedly preparing to follow up with his controversial COVID-19 stimulus bill with his plan for the “first major federal tax hike” in nearly three decades.

“Unlike the $1.9 trillion Covid-19 stimulus act, the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source,” Bloomberg News reported. “While it’s been increasingly clear that tax hikes will be a component — Treasury Secretary Janet Yellen has said at least part of the next bill will have to be paid for, and pointed to higher rates — key advisers are now making preparations for a package of measures that could include an increase in both the corporate tax rate and the individual rate for high earners.” – READ MORE

US Panel To Review AstraZeneca Data As Spain Latest To Halt Jabs; Germany Sees Increased Blood-Clot Risk – As more EU countries halt use of the AstraZeneca vaccine, the EMA has just reiterated that, as far as they know, the vaccine is safe. But just in case, they’re going to reexamine data related to blood clots in patients who received the vaccine.

We suppose it’s just one of the sacrifices that must be made in order to develop a vaccine within 12 months. – READ MORE

Danish Woman Who Died From Blood Clot After AstraZeneca Shot Had ‘Unusual Symptoms’, Agency Says – A 60-year-old Danish woman who died of a blood clot after receiving AstraZeneca’s COVID-19 vaccine had “highly unusual” symptoms, according to the Danish Medicines Agency.

The woman had a low number of blood platelets and clots in small and large vessels, as well as bleeding, it said. – READ MORE

US “COVID Relief” Was Enough To Give Every Taxpayer $41,870 But We Got Peanuts Instead – President Biden just signed his sweeping $1.9 trillion spending package into law. Once this bill hits the books, total taxpayer expenditure on (ostensibly) COVID relief will hit $6 trillion—which, roughly estimated, comes out to $41,870 in spending per federal taxpayer.

The sheer immensity of this spending is hard to grasp. For context, $6 trillion is more than one-fourth of what the US economy produces in an entire year, according to Fox Business. The COVID spending blowout is at least eight times bigger than the (inflation-adjusted) price tag of President Franklin Delano Roosevelt’s “New Deal.”  – READ MORE

NYC Spent Nearly Half A Million Dollars Per Inmate In 2020, Report Says – The Office of the New York City Comptroller Scott Stringer published a new report outlining how the New York City Department of Corrections spent a whopping $447,337 per inmate in fiscal 2020, up more than 33% a year ago and more than doubled since 2015.

Rising costs per inmate come as violence has exploded within NYC jails. “The rate of incidents and allegations of use of force has also grown sharply, nearly doubling from FY 2018 to FY 2020,” Stringer said in the report. – READ MORE

What’s Next: Here Comes Biden’s $2 Trillion Infrastructure Package – Earlier today we published a recap of Biden’s $1.9 trillion American Rescue Plan from Rabobank’s Philip Marey in which he observed that “the Democratic approach may have spoilt the mood for bipartisanship in the near term. Republicans claim that the Democrats were not serious about finding a bipartisan consensus.” In short, since not a single Republican voted for the American Rescue Plan and centrist Democratic senators have shown that they are willing to use their leverage in the 50-50 Senate. “this will increasingly anger progressives as their left wing agenda continues to be watered down by senators of their own political party. Therefore, if Biden does not proceed with caution, this could already have been the high point of his administration.”

That would be the rational view. Alternatively, in a world where a flood of new debt is the only option left to perpetuating a failed status quo, one can also argue that record polarization notwithstanding, it will be in the best interest of both republicans and democrats to push the current spending spree to its absurd limits. – READ MORE

Biden DHS Responds as Antifa Rioters Again Set Fire to Federal Courthouse in Portland – On Thursday, antifa agitators who gathered to protest against Immigration and Customs Enforcement (ICE) burned American flags, broke glass, and set fire to the plywood at the federal courthouse in Portland. Federal officers with the Department of Homeland Security under President Joe Biden responded in much the same way they did under Donald Trump, but DHS has yet to release a statement about the incident.

“Anti DHS/ICE and [Stop Line 3] protesters gather,” local reporter Garrison Davis tweeted with a video. “A few of the remaining uncovered windows have been broken. An American flag burns in front of the door.” – READ MORE

Horowitz: The biggest COVID lie right now: No immunity from prior infection – Why should the estimated one-third of Americans who have already contracted the virus still be treated like ticking time bombs? How much longer will the government get away with denying the science behind immunity from infection?

The isolation of all human beings as a strategy to deal with this virus began with the novel assumption of mass asymptomatic spread, a hypothesis now disproven by studies on transmission. Now, the mandatory masking and isolation are continuing without question based on a shocking lie that the one-third of the country who have already gotten the virus – despite the masks and lockdowns, by the way – are not immune to the virus. – READ MORE

Emails Reveal FBI Excavation For Civil War-Era Gold In Lawsuit Over “Hundreds Of Millions” In Disputed Booty – Did the FBI make off with ‘seven to nine tons’ of Civil War-era gold in a Pennsylvania forest after a treasure hunting duo led them to its long-hidden location?

A father-son team wants to know, and has successfully sued for access to government emails about the dig. – READ MORE

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