Biden pledge to fix unfair economy resonates with Americans

Published

3 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.”

Politics

UK played ‘vital role’ in Gaza peace deal, says Trump aide, after minister branded ‘delusional’

Published

23 mins ago

October 13, 2025

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UK played 'vital role' in Gaza peace deal, says Trump aide, after minister branded 'delusional'

Steve Witkoff, the US special envoy to the Middle East, has claimed the UK played a “vital role” in helping negotiate the Gaza peace deal, smoothing over a potential diplomatic row between London and Washington.

Witkoff took to X on Monday, ahead of meeting President Donald Trump in Israel, to praise the UK.

“I would like to acknowledge the vital role of the United Kingdom in assisting and coordinating efforts that have led us to this historic day in Israel,” Witkoff wrote.

“In particular, I want to recognise the incredible input and tireless efforts of National Security Advisor Jonathan Powell.”

His comments came 24 hours after education secretary Bridget Phillipson was branded “delusional” by Mike Huckabee, the US ambassador to Israel, for claiming that Sir Keir Starmer’s presence at a signing ceremony for today’s ceasefire deal in Egypt “demonstrates the key role that we [Britain] have played”.

The minister made her remarks on Sunday Morning With Trevor Phillips but did not say exactly what the UK’s role in the ceasefire, largely attributed to Donald Trump, is or was.

Politics latest: Phillipson announces crackdown on antisemitism at UK universities

Phillipson added: “We have played a key role behind the scenes in shaping this.

“It’s right that we do so because it’s in all of our interest, including our own national interest, that we move to a lasting peace in the region.

“These are complex matters of diplomacy that we are involved in. But we do welcome and recognise the critical role that the American government played in moving us to this point.”

Her comments prompted Mr Huckabee to repost the Sky News clip on social media, claiming: “I assure you she’s delusional.”

He added: “She can thank Donald Trump anytime just to set the record straight.”

Mr Huckabee was part of the negotiating team for the peace deal, with Mr Trump calling the former Arkansas governor “AMAZING” as he said he “worked so hard, and did so much, to bring about peace in the Middle East”.

In August, Mr Huckabee said the UK and other European nations that said they would declare a Palestinian state were “having the counterproductive effect that they probably think that they want”.

Israel: UK did not play key role in peace deal

Israel’s deputy foreign affairs minister, Sharren Haskell backed Huckabee, telling Sky News the UK played “the opposite” of a key role in the peace deal after recognising the Palestinian state.

“The message that the UK government has sent Hamas was the message that: the longer they continue this war, they will be rewarded.

“I mean, you must understand that when a terrorist organisation is thanking you. You are on the wrong side of history.”

It is understood the prime minister has underlined Mr Trump’s key role in securing this deal throughout the process. Publicly, he praised Mr Trump twice in his press conference in India on Thursday.

Ms Phillipson stood by the September decision to declare a Palestinian state, saying it was “the right thing to do”.

Husam Zomlot, the Palestinian ambassador to the UK, told Sky News it was a “moment of leadership” for the UK to declare a Palestinian state, and a “responsibility to begin to correct a century of the gravest historic injustices committed against our people”.

He added: “That moment three weeks ago, when the UK did recognise, is a moment when we can say that the wheels of history are turning in a different direction.”

No plans for British troops on the ground

The education secretary also told Sky News the government has “no plans” to put British troops into Israel or Gaza as part of a stabilisation force after the ceasefire.

The US military will help establish a multinational force in Israel, known as a civil-military coordination centre, which is likely to include troops from Egypt, Qatar, Turkey and the UAE.

On Friday, US officials said up to 200 US troops already based in the Middle East will be moved to Israel to help monitor the ceasefire in Gaza.

The day before, President Trump announced Israel and Hamas had “signed off on the first phase” of a peace plan he unveiled last week.

Aid trucks have been gathering in Egypt to cross into Gaza after months of warnings by aid groups of famine in parts of the territory.

In Israel, the remaining hostages are due to be returned from Gaza by Hamas on Monday under the first phase of the peace plan. Twenty are believed to still be alive, 26 have been declared dead, while the fate of two is unknown.

The ceasefire agreement has been made two years after Hamas stormed Israel on 7 October 2023, killing 1,200 people and taking 251 hostages.

Israel’s military offensive has killed more than 67,000 Palestinians in Gaza, according to the Hamas-run health ministry, which the UN deems reliable.

World

Chants of frustration turn into songs of celebration in Tel Aviv as crowds greet hostages

Published

23 mins ago

October 13, 2025

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Chants of frustration turn into songs of celebration in Tel Aviv as crowds greet hostages

For two years, they have gathered in Hostages Square – parents, brothers, sisters, extended family and friends clutching photographs and signs reading “bring them home”.

They have campaigned, protested and prayed for the return of loved ones taken in the 7 October attacks.

But now the mood has shifted.

The chants of frustration have turned into songs of celebration.

The tears that once fell in despair are now tears of relief.

The square, normally a site of weekly demonstrations, has transformed into a sea of flags.

Gaza: Follow the latest updates

We watched as tens of thousands packed into this area of Tel Aviv to witness a moment many feared might never come – the homecoming of the remaining hostages.

Every few minutes, the massive video screens behind the stage beamed new images – exhausted but smiling hostages embracing their families.

Each clip is met with a roar of applause – the atmosphere is one of sheer elation, it is electric.

When helicopters pass overhead, ferrying freed captives to nearby hospitals, the crowd erupts again and again, looking upwards to the sky in awe at the impossible that’s now been made possible.

The sense of catharsis here is palpable – at last some closure after a nightmare two years and a chance for the healing process of a nation to begin.

But beneath the jubilation, there’s a deep well of sorrow – and reckoning.

The 7 October massacre was the deadliest single-day attack on Israel since the nation’s founding in 1948 – an event that upended the country’s sense of safety and unity.

More than 1,000 were killed that day, and hundreds were taken into Gaza.

For the families who never stopped fighting for their return, this is both an ending and a beginning.

Now that the living hostages are home, attention turns to those who did not survive.

Officials say the process of identifying and repatriating remains will take time – and for some families, closure still remains heartbreakingly out of reach.

But the questions that linger extend far beyond grief.

In the days and weeks ahead, the Israeli government faces intense scrutiny.

How could the country’s fabled intelligence and defence apparatus fail so catastrophically?

And what accountability, if any, will fall on Prime Minister Benjamin Netanyahu, who has faced mounting criticism over both the failures leading up to the attack and the protracted efforts to secure the hostages’ release?

This is a nation rejoicing, but also searching for answers.

For now, though, the families in this square are holding tight to one immutable positive – after more than two long years, the living hostages, at least, are finally home.

World

Drones capture staggering images of Gaza devastation – as people find nothing left

Published

23 mins ago

October 13, 2025

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Drones capture staggering images of Gaza devastation - as people find nothing left

Drones have been a common sight in Gaza for a long time, but they have always been military.

The whine of a drone is enough to trigger fear in many within the enclave.

But now, drones are delivering something different – long, lingering footage of the devastation that has been wreaked on Gaza. And the images are quite staggering.

Gaza latest: Chants of ‘thank you Trump’ in Hostages Square

Whole city blocks reduced to rubble. Streets destroyed. Towns where the landscape has been wholly redesigned.

Decapitated tower blocks and whole areas turned into black and white photographs, where there is no colour but only a palette of greys – from the dark hues of scorched walls to the lightest grey of the dust that floats through the air.

And everywhere, the indistinct dull grey of rubble – the debris of things that are no longer there.

The joy that met the ceasefire has now changed into degrees of anxiety and shock.

Gaza is full of people who are returning to their homes and hoping for good news. For a lucky few, fortune is kind, but for most, the news is bad.

Umm Firas has been displaced from her home in Khan Younis for the past five months. She returned today to the district she knew so well. And what she found was nothing.

“This morning we returned to our land, to see our homes, the neighbourhoods where we once lived,” she says.

“But we found no trace of any houses, no streets, no neighbourhoods, no trees. Even the crops, even the trees – all of them had been bulldozed. The entire area has been destroyed.

“There used to be more than 1,750 houses in the block where we lived, but now not a single one remains standing. Every neighbourhood is destroyed, every home is destroyed, every school is destroyed, every tree is destroyed. The area is unliveable.

“There’s no infrastructure, no place where we can even set up a tent to sit in. Our area, in downtown Khan Younis used to be densely populated. Our homes were built right next to each other. Now there is literally nowhere to go.

“Where can we go? We can’t even find an empty spot to pitch our tent over the ruins of our own homes. So we are going to have to stay homeless and displaced.”

It is a story that comes up again and again. One man says that he cannot even reach his house because it is still too near the Israeli military officers stationed in the area.

Another, an older man whose bright pink glasses obscure weary eyes, says there is “nothing left” of his home “so we are leaving it to God”.

“I’m glad we survived and are in good health,” he says, “and now we can return there even if it means we need to eat sand!”

The bulldozers have already started work across the strip, trying to clear roads and allow access. Debris is being piled into huge piles, but this is a tiny sticking plaster on a huge wound.

The more you see of Gaza, the more impossible the task seems of rebuilding this place. The devastation is so utterly overwhelming.

Bodies are being found in the rubble while towns are full of buildings that have been so badly damaged they will have to be pulled down.

Humanitarian aid is needed urgently, but, for the moment, the entry points remain closed. Charities are pleading for access.

It is, of course, better for people to live without war than with it. Peace in Gaza gifts the ability to sleep a little better and worry a little less. But when people do wake up, what they see is an apocalyptic landscape of catastrophic destruction.