Biden pledge to fix unfair economy resonates with Americans

Published

2 years ago

February 11, 2023

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A populist undercurrent running through President Biden’s State of the Union address and churned up by turbulent conditions in the global economy is resonating with Americans.

It’s the feeling that people are “getting ripped off,” as Biden put it, by an economy that isn’t “fair” – a word that appeared in Biden’s prepared remarks nine different times.

From pesky fees charged by big retail banks to deep, structural imbalances in the U.S. tax system that favor wealthy people and large corporations, Biden’s speech hit on a perennial frustration in American economic life: how the deck feels stacked by big companies and institutions against ordinary taxpayers and consumers.

“If we – the poorer people, the middle class – pay tax, the big companies are supposed to do the same. This is right. So I think the President [said] something that is true. We need more tax to be paid by the big companies and then that money can go back to the poorer people to help people,” Jean-Michel Dossous, a New York City cab driver who watched the State of the Union on his phone, told The Hill.

Returning to the notion of economic fairness again and again, Biden touted numerous initiatives to bring down prices after a year of high inflation that has harassed American pocketbooks and that fiscal authorities, like Congress and the president, have limited powers to fight.

“Big Pharma has been unfairly charging people hundreds of dollars [for insulin] – and making record profits,” Biden said during his speech on Tuesday, praising the $35 insulin price cap for seniors who use Medicare that was passed as part of Democrats’ Inflation Reduction Act last year. Price caps have only been used minimally so far in the government’s battle against high prices, which is mostly the responsibility of the Federal Reserve.

He also touted his administration’s effort to fight so-called “junk fees,” expensive penalties charged by banks, financial firms and other businesses for reasons such as late payments, insufficient funds or an attempt to cancel a service.

“I know how unfair it feels when a company overcharges you and gets away with it,” he said about the overdraft fees charged by banks, a commercial practice he called on Congress to curtail with new legislation.

The Biden administration also announced last week an effort to cap bank overdraft fees at $8 through a new rule to be issued by the Consumer Financial Protection Bureau (CFPB).

Tatiana Nazario, an administrative assistant at the Newark, New Jersey, public library told The Hill she “absolutely” had the feeling she was getting ripped off by big banks and that she knew people who’d gotten locked into a cycle of debt due to overdraft fees.

While some major banks have already phased-out overdraft fees, bank lobbyists and advocates for the sector call those penalties a useful and popular way for consumers to smooth out expenses.

“If you get one overdraft fee and it stays in your account for a couple of days, they overdraft you again and again and again until you pay it. If you’re already broke and you’re waiting on that direct deposit to hit, by the time it hits you’re not going to have much left,” Nazario said in an interview.

“People are living off of payday loans, and now they’re promoting these apps … where you get payday loans rather than coming up with better solutions for us,” she added.

The CFPB describes payday loans as short-term, high-cost loans for small amounts of money and cautions that people’s “ability to repay the loan … is generally not considered by a payday lender.”

Of all the mentions of unfairness in the economy in Biden’s State of the Union, perhaps the point he hammered home the most was about unfairness in the tax code.

“I think a lot of you at home agree with me that our present tax system is simply unfair. The idea that in 2020, 55 of the biggest companies in America made $40 billion in profits and paid zero in federal income taxes? That’s simply not fair,” Biden said.

Steve Taylor, an adjunct English professor at the City University of New York, said he felt the same way, arguing that rich people and corporations need to be paying more.

“I think they should pay their fair share. They’re getting away with murder. These guys are not paying any taxes. I mean, come on. I pay taxes. What’s the median for working people, like 25 percent? Come on. What’s going on?” he said in an interview.

Critics of corporate tax hikes argue that big businesses still pay billions in other types of taxes outside of taxed income.

The views of Taylor and Jean-Michel Doussos on the tax system are held by a majority of Americans, according to a variety of public opinion polls.

Fifty-two percent of Americans believe the government should “redistribute wealth by heavy taxes on the rich,” according to one such poll published by Gallup last August, while 47 percent feel the opposite. Prior to the 2008 financial crisis, those preferences were by-and-large flipped, with more Americans disagreeing with the idea of redistributing rich people’s wealth with taxes than agreeing.

A 2020 poll by Reuters/Ipsos found that nearly two-thirds of respondents believed “the very rich should contribute an extra share of their total wealth each year to support public programs.” Support for that position was stronger among Democrats, at 77 percent, but 53 percent of Republicans also stood behind it.

The difference between how workers and wages are taxed and how profits and businesses are taxed has been coined the “two-tiered tax system” by other members of the Biden administration, including Treasury Secretary Janet Yellen.

“At the core of the problem is a discrepancy in the ways types of income are reported to the IRS: opaque income sources frequently avoid scrutiny while wages and federal benefits are typically subject to nearly full compliance. This two-tiered tax system is unfair and deprives the country of resources to fund core priorities,” she said in 2021. Biden has big plans for junk fees, a billionaire’s tax and paid leave. But can he actually enact them? Yahoo announces layoffs of 20 percent of staff by end of 2023

Tom Ankner, a librarian in Newark, New Jersey, said he appreciated hearing the message during Biden’s speech that the economy could treat people more fairly.

“I liked the fact that he was taking that line,” Ankner told The Hill. “Because that’s where I’d like [to see changes]. That’s the direction I’d like to see the country go.”

Sports

Hard-throwing rookie Misiorowski going to ASG

Published

1 hour ago

July 12, 2025

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Hard-throwing rookie Misiorowski going to ASG

Associated Press

Jul 11, 2025, 11:17 PM ET

Hard-throwing rookie Jacob Misiorowski is a National League All-Star replacement, giving the Milwaukee Brewers right-hander a chance to break Paul Skenes‘ record for the fewest big league appearances before playing in the Midsummer Classic.

Misiorowski was named Friday night to replace Chicago Cubs lefty Matthew Boyd, who will be unavailable for the All-Star Game on Tuesday night in Atlanta because he is scheduled to start Saturday at the New York Yankees.

The 23-year-old Misiorowski has made just five starts for the Brewers, going 4-1 with a 2.81 ERA while averaging 99.3 mph on his fastball, with 89 pitches that have reached 100 mph.

If he pitches at Truist Park, Misiorowski will make it consecutive years for a player to set the mark for fewest big league games before an All-Star showing.

Skenes, the Pittsburgh Pirates right-hander getting ready for his second All-Star appearance, had made 11 starts in the majors when he was chosen as the NL starter for last year’s All-Star Game at Texas. He pitched a scoreless inning.

“I’m speechless,” said a teary-eyed Misiorowski, who said he was given the news a few minutes before the Brewers’ 8-3 victory over Washington. “It’s awesome. It’s very unexpected and it’s an honor.”

Misiorowski is the 30th first-time All-Star and 16th replacement this year. There are now 80 total All-Stars.

“He’s impressive. He’s got some of the best stuff in the game right now, even though he’s a young pitcher,” said Yankees slugger Aaron Judge, who is a starting AL outfielder for his seventh All-Star nod. “He’s going to be a special pitcher in this game for a long time so I think he deserved it and it’s going be pretty cool for him and his family.”

Carlos Rodón, Carlos Estévez and Casey Mize were named replacement pitchers on the AL roster.

The New York Yankees‘ Rodón, an All-Star for the third time in five seasons, will replace teammate Max Fried for Tuesday’s game in Atlanta. Fried will be unavailable because he is scheduled to start Saturday against the Chicago Cubs.

In his final start before the All-Star game, Rodón allowed four hits and struck out eight in eight innings in an 11-0 victory over the Cubs.

“This one’s a little special for me,” said Rodón, an All-Star in 2021 and ’22 who was 3-8 in his first season with the Yankees two years ago before rebounding. “I wasn’t good when I first got here, and I just wanted to prove that I wasn’t to going to give up and just put my best foot forward and try to win as many games as I can.”

The Kansas City Royals‘ Estévez replaces Texas’ Jacob deGrom, who is scheduled to start at Houston on Saturday night. Estévez was a 2023 All-Star when he was with the Los Angeles Angels.

Mize takes the spot held by Boston‘s Garrett Crochet, who is scheduled to start Saturday against Tampa Bay. Mize gives the Tigers six All-Stars, most of any team and tied for the franchise record.

Royals third baseman Maikel Garcia will replace Tampa Bay‘s Brandon Lowe, who went on the injured list with left oblique tightness. The additions of Estévez and Garcia give the Royals four All-Stars, matching their 2024 total.

The Seattle Mariners announced center fielder Julio Rodríguez will not participate, and he was replaced by teammate Randy Arozarena. Rodríguez had been voted onto the AL roster via the players’ ballot. The Mariners, who have five All-Stars, said Rodríguez will use the break to “recuperate, rest and prepare for the second half.”

Arozarena is an All-Star for the second time. He started in left field for the AL two years ago, when he was with Tampa Bay. Arozarena was the runner-up to Vladimir Guerrero Jr. in the 2023 Home Run Derby.

Rays right-hander Drew Rasmussen, a first-time All-Star, is replacing Angels left-hander Yusei Kikuchi, who is scheduled to start Saturday night at Arizona. Rasmussen is 7-5 with a 2.82 ERA in 18 starts.

San Diego added a third NL All-Star reliever in lefty Adrián Morejón, who replaces Philadelphia starter Zack Wheeler. The Phillies’ right-hander is scheduled to start at San Diego on Saturday night. Morejón entered the weekend with a 1.71 ERA in 45 appearances.

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M’s Raleigh hits 2 more HRs, brings total to 38

Published

1 hour ago

July 12, 2025

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M's Raleigh hits 2 more HRs, brings total to 38

ESPN News Services

Jul 11, 2025, 10:40 PM ET

DETROIT — Cal Raleigh hit his 37th and 38th home runs in Seattle‘s 12-3 victory over Detroit on Friday night to move within one of Barry Bonds’ 2001 major league record for homers before the All-Star break.

Raleigh hit a solo homer off former teammate Tyler Holton in the eighth to tie the American League record of 37 before the All-Star break set by Reggie Jackson in 1969 and matched by Chris Davis in 2013.

“[Holton] and I are really good friends, and I’ve caught a lot of his pitches,” said Raleigh, who was in the lineup as the designated hitter instead of at catcher. “I don’t think that helped much, but I’m sure he’s not very happy with me.”

Raleigh hit a grand slam off Brant Hurter in the ninth.

“I didn’t even know it was a record until just now,” Raleigh said. “I don’t have words for it, I guess. I’m just very grateful and thankful.”

It was Raleigh’s eighth multihomer game this season, tying Jackson (also in 1969) for the most such games before the All-Star break in MLB history, according to ESPN Research. He also tied Ken Griffey Jr. for the most multihomer games in Mariners franchise history.

Seattle has two games left in Detroit before the break.

“Cal Raleigh … this is just unbelievable,” Mariners manager Dan Wilson said. “He’s already set the AL record and now he’s only one short of Barry. There are two games, so who knows?”

Raleigh hit 10 homers in March and April, 12 in May, 11 in June and has five in July.

“This is a very boring comment, but baseball is all about consistency,” Wilson said. “This hasn’t been one hot streak, he’s doing this month after month. That says everything.”

The Associated Press contributed to this report.

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Bellinger goes deep for 3rd time after Cubs rob HR

Published

1 hour ago

July 12, 2025

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Bellinger goes deep for 3rd time after Cubs rob HR

Associated Press

Jul 11, 2025, 10:11 PM ET

NEW YORK — Robbed an inning earlier, Cody Bellinger wasn’t sure his first three-homer game had been swiped away again.

“I didn’t know at first,” he said. “For that third one to finally get over feels pretty good.”

Bellinger hit three two-run homers against his former team and was denied a fourth by a spectacular catch, leading the Yankees to an 11-0 rout of the Chicago Cubs on Friday night.

Aaron Judge made a trio of outstanding grabs in right field for the Yankees, who have won five straight games following a a six-game losing streak.

Bellinger, whose dad Clay played for the Yankees from 1999 to 2001, is a two-time All-Star and 2019 NL MVP.

He spent 2023 and 2024 with the Cubs, hitting .266 with 18 homers and 78 RBIs in 130 games last year while missing time because of a broken right rib. The Cubs traded him to New York in December with $52.5 million remaining on his contract and agreed to pay the Yankees $5 million.

He homered in a three-run third off Chris Flexen and in the fifth against Caleb Thielbar for this 18th multihomer game. Bellinger nearly went deep in the seventh but was robbed by Kyle Tucker on a drive above the right-field wall.

“I was watching it. He timed it up perfect, so I was a little sick about it, honestly,” Bellinger said. “But it was a good catch.”

“Boys were giving me a hard time after he robbed it. Boonie was giving me hard time,” Bellinger added.

A four-time All-Star and a Gold Glove winner, Tucker snatched the ball as a fan tried for it, the spectator clasping both sides of the outfielder’s glove.

“I caught the ball and he caught my glove, so I figured even if I dropped it they’d probably look at it and get it overturned,” Tucker said. “I’ve probably had some encounters with me trying to go into the stands and catching a ball and me hitting someone’s hand or whatever but I don’t know if anyone’s ever actually kind of caught my glove while doing it.”

Bellinger homered in the eighth off Jordan Wicks, just above the red glove of leaping center fielder Pete Crow-Armstrong and into the dark glove of a kid in the front row.

“The fan just beat to the spot,” Crow-Armstrong said. “He just had a better chance of catching it higher than I did.”

Bellinger, who had rounded first, watched and then smiled when he saw he had hit No. 3.

“Glad the fan caught it before PCA could grab it,” said Bellinger, who met the boy after and got the ball back. “I’ve seen PCA rob so many homers. He’s a freak athlete out there.”

Bellinger is batting .406 over a career-high 16-game hitting streak, raising his average to .285 with 16 homers and 54 RBIs.

He had spoken with his Cubs ex-teammates during batting practice.

“No, no, no revenge,” he said. “Honestly, ultimately it was just fun to be out there. I saw a bunch of guys I hadn’t seen in a while and I shared a bunch of good memories with them for these past two years.”

Jazz Chisholm Jr. and manager Aaron Boone encouraged Bellinger to emerge from the dugout for a curtain call.

“He was a little reluctant, but then the Bell-lin-ger” over the dugout got pretty loud. So I think he succumbed to it,” Boone said. “Belly’s loved being here and loved playing here in a meaningful place to him, going back to his childhood.”

Bellinger turns 30 on Sunday and can opt out of the final season of his contract this fall. With long balls and wide smiles, he seems to have found a home in the Yankees clubhouse.

He tried not to make much of getting the three homers against the Cubs, but Bellinger’s teammates could sense the significance.

“It’s always good to go against your old teammates that you spend a lot of time with, you know, you respect,” Boone said. “To perform right away against them I’m sure probably is a little cherry on top for him.”