“Stop writing about politics. I signed up for a business newsletter.” I get that message, sometimes a lot of them, when this space’s eyes wander toward Washington, D.C.
Why it matters: Years ago, it might have been a valid critique. Today, though, the line between business and politics has all but vanished.
First and foremost: The reconciliation debate is really about restructuring the entire American economy, and about funding those changes. It could be a massive externality for how investments perform, what investments are available and how investors get paid.
- Within this, the status quo on carried interest taxation is facing its most serious challenge in over a decade.
Antitrust: The Biden administration is painting with a very wide brush, arguing that corporate consolidation drives up consumer prices and drives down wages.
- Within Big Tech, which has received the bulk of media attention on antitrust, the FTC is now taking a harder…