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# YOU LOVE TO SEE IT: Biden World Flips Off Summers
- URL: https://www.levernews.com/you-love-to-see-it-biden-world-flips-c95/
- Published: 2021-02-05T21:12:34.000Z
- Updated: 2021-05-04T17:54:19.000Z
- Description: Biden ignores Larry Summers’ advice, Mitt Romney wants to end childhood poverty, and McKinsey pays a big fine.
- Author: Julia Rock
- Tags: Newsletter, #substack, You Love To See It, #hide

![](https://storage.ghost.io/c/6f/ad/6fad5a21-601b-4ea2-b70d-6b3c28cd62be/content/images/public/images/d7d3c685-0edf-4638-9cee-f5849c37a66a_567x305.jpeg)

Alex Wong / Getty Images (2009)

*By Julia Rock*

#### **THINGS THAT YOU LOVE TO SEE:**

**• [More States Want Tax The Rich](https://itep.org/states-are-finally-going-bold-with-progressive-tax-efforts/?ref=levernews.com)** (Institute on Taxation and Economic Policy) — *At least nine states are considering budget proposals that would make their tax schemes more progressive, including multiple proposals to tax unearned investment income, a proposal to tax Wall Street financial transactions, proposed taxes on the top 1 percent, and more.*

**• [McKinsey Pays For Role In Opioid Crisis](https://www.washingtonpost.com/business/2021/02/04/mckinsey-opioid-settlement-purdue/?ref=levernews.com)**(Washington Post) **—** *“McKinsey & Company, one of the world’s largest business consulting firms, has agreed to pay $573.9 million in a settlement with 47 states regarding its role in aiding drug companies during the opioid addiction epidemic.”*

**• Larry Summers Is Out, Jared Bernstein Is In —** *Harvard economist Larry Summers led the charge for deregulation, which ultimately caused the 2008 financial crisis. In the Obama administration, he [fought](https://www.washingtonpost.com/blogs/ezra-klein/post/the-obama-administration-in-one-memo/2011/08/25/gIQACRZcLQ%5Fblog.html?ref=levernews.com) to limit the size of its stimulus bill, leading to the [weakest](https://blogs.wsj.com/economics/2016/07/29/seven-years-later-recovery-remains-the-weakest-of-the-post-world-war-ii-era/?ref=levernews.com) economic recovery in the post-World War II era. Now, Summers is once again arguing for limiting stimulus. First, he [pushed to limit](https://www.levernews.com/senate-democrats-motion-to-concede/) who’s eligible for COVID survival checks — something Democrats are [unfortunately considering](https://www.levernews.com/midday-poster-dems-are-lucy-the-football/). Today, Summers [published](https://go.politicoemail.com/?qs=16f10d0c7c5fd26041ab02f5ec5b38fe24a3e98bf20bc4935da4f98324e8fb7d46eccec05ddf56fbee3e0285519e2f52f5bebf3bd3afa540&ref=levernews.com) an op-ed arguing Biden’s overall COVID relief bill is too big and could ultimately hurt the economy…*

**This is an excerpt from today’s edition of You Love To See It — a weekly subscriber-only feature reviewing good news, progress and action steps. To [read the entire article](https://www.levernews.com/you-love-to-see-it-biden-world-flips/) and access to our live events and all of our subscriber-only content, [click here](#/portal/signup) to become a Daily Poster supporting subscriber for $8 a month or $70 a year. When you subscribe, you are helping us do this reporting and hire more journalists.**

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