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Stimulus talks remain in a months-long stall, but one segment of America seems to be doing just fine in the meantime: the wealthy.
Here are three things to know about the present condition of the pandemic-ravaged economy:
This recession and recovery have been wildly uneven. As Annie Lowrey put it last month: “Normalcy for some, apocalypse for others.”
Meanwhile, the pandemic has created a class of super-savers: namely, high earners who aren’t spending like they used to. “We’re just rife with cash and it has led to a decent amount of guilt,” one told Joe Pinsker over the summer.
Now city and state governments fear taxing the wealthy. “They worry that rich families might simply leave, no longer bound to their offices or their children’s schools,” Annie reports. The solution, she argues, is for the federal government to pitch in.
Further reading: Speaking of the rich … Hannah Giorgis, a staff writer who covers culture, has a thoughtful piece on television’s portrayals of the troubled wealthy.
7 days remain until the 2020 presidential election. Here’s today’s essential read:
The Supreme Court is helping Republicans rig elections, Adam Serwer argues.
Want to better understand the ongoing coronavirus outbreak? Here are four key stories from our team:
Stuck on what to stream? Let us help:
Aaron Sorkin’s new film, The Trial of the Chicago 7, is the right story for this moment, David Sims argues. (It’s on Netflix.)
Today’s break from the news:
Our “Fifty” project, from photo editor Alan Taylor, highlights extraordinary photography of each U.S. state. This week’s selection is known as the Bay State. Can you guess which state that is?