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Welcome to the Capital Note, a newsletter about business, finance, and economics. On the menu today: tax, Big Tech and influencing the debate, Playboy’s NFT play, Dogecoin and the deli, the chip crunch, and Veblen goods. To sign up for the Capital Note, follow this link.
Each one hopes that if he feeds the crocodile enough, the crocodile will eat him last. All of them hope that the storm will pass before their turn comes to be devoured. But I fear greatly that the storm will not pass. It will rage and it will roar ever more loudly, ever more widely.
Chamber of Progress, a new tech industry group funded by giants like Amazon, Facebook and Google, is announcing its support for a corporate tax increase like the one President Joe Biden proposed to fund his $2 trillion infrastructure plan.
The move sets Chamber of Progress, a new center-left group, apart from other business organizations that have opposed Biden’s tax hike, like the Business Roundtable and U.S. Chamber of Commerce. While the group’s endorsement does not reflect the individual views of each company that funds it, it does send a signal that the tech industry is open to higher tax rates and supports greater infrastructure investment.
Chamber of Progress launched late last month and is an industry coalition focused on a range of economic, social and consumer issues, including creating a social safety net and tackling income inequality.
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