Lever Time

There’s a new evil genius on Capitol Hill, one that privacy experts warn could empower tech billionaires like Elon Musk and Mark Zuckerberg to issue their own private currencies. The Senate is poised to pass the GENIUS Act, which would give so much free rein to such “stablecoins” that it could destabilize the rest of the economy.Today on Lever Time, Arjun Singh sits down with Lever reporter Luke Goldstein to understand the GENIUS Act, how it could turn Big Tech companies into unregulated banks, and why this should be a concern for the rest of us.You can read Luke’s full story on the GENIUS Act and the future of “ZuckBucks” here. Learn more about your ad choices. Visit megaphone.fm/adchoices

He came in with a bang but is going out with a whimper. After his 24/7 role on Trump’s election stage and his high-profile rampage through the federal government, billionaire Elon Musk says he’s scaling back his work for the administration and ramping down his political spending. With his image tarnished and businesses facing turbulence, is Musk down for the count — or planning his return as America’s most infamous oligarch?Today on Lever Time, David Sirota talks to Michael Scherer, a reporter for The Atlantic who has the inside scoop on what happened to Musk and what kinds of ticking time bombs he and his so-called Department of Government Efficiency may have left inside the federal government. Learn more about your ad choices. Visit megaphone.fm/adchoices

Grover Norquist, the head of Americans for Tax Reform, dives into the world of anti-tax activism and its influence on the Republican Party. He passionately defends his stance against perceived traitors contemplating tax hikes and discusses the powerful Taxpayer Protection Pledge's role in aligning politicians with anti-tax ideals. Norquist reflects on the evolution of the movement, the delicate dynamics within the center-right coalition, and the ongoing battle for limited government. His insights reveal the complexities of navigating tax policy in today's political landscape.

Nicole Hemmer, an Associate Professor of History at Vanderbilt and author of 'Partisans,' joins to unravel the depths of supply-side economics and its impact on American politics. She discusses how George H.W. Bush’s unexpected tax hike shaped his presidency and the Republican Party’s future. The conversation dives into the rise of anti-tax pledges and the ideological split within the GOP, led by figures like Newt Gingrich. Hemmer illustrates how these political maneuvers set the stage for modern populism and economic policies that resonate today.

How a small group of economists shaped Reagan’s tax policy and the future of the Republican party. This is Part 2 of Tax Revolt, a new miniseries from Lever Time revealing how free-market radicals hijacked American politics and set the stage for Elon Musk, DOGE, and Donald Trump’s presidency.Want more? Become a paid subscriber to get ad-free episodes and exclusive bonus content, like an exclusive interview we conducted with the godfather of trickle-down economics. By doing so, you’ll be supporting independent journalism: levernews.com/subscribe Learn more about your ad choices. Visit megaphone.fm/adchoices

In the 1970s, an eccentric anti-tax crusader launched a radical campaign to dismantle California’s tax system — a movement that still defines American politics today.This is Part 1 of Tax Revolt, a new mini-series from Lever Time revealing how free-market radicals hijacked American politics and set the stage for Elon Musk, DOGE and Donald Trump’s presidency.Want more? Become a paid subscriber to get ad-free episodes and exclusive bonus content — and support independent journalism: levernews.com/subscribePlus, read a bonus companion article about the anti-tax zealot behind Proposition 13, written by producer Ariella Markowitz.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Dive into the intriguing history of the Republican Party's anti-tax sentiment. Discover how a select group of conservatives transformed tax cuts for the wealthy from a fringe idea to a mainstream rallying cry. Explore the economic consequences of this shift, including its effects on inequality and public services. Unpack the evolution of tax policy in America since the 1980s and understand the profound benefits this movement has brought to the rich, shaping current political landscapes.

Shawn Fain, the President of the United Auto Workers, advocates for blue-collar rights and critiques harmful trade policies. He discusses the detrimental effects of Trump’s tariffs versus their intended benefits for manufacturing workers. Fain reflects on how decades of free trade have alienated Democrats from the labor movement, urging a re-evaluation of trade policies. He underscores the vital role of American manufacturing in national security and argues for maintaining union independence in political advocacy amid shifting labor dynamics.

Peter Goodman, a veteran New York Times reporter and author, discusses the repercussions of Trump's new tariffs on imports, which aim to fulfill campaign promises but may disrupt the global economy. He highlights the historical context of trade policies and their impact on American workers, contrasting past agreements with current challenges. Goodman dives into the ethical concerns surrounding tariff exemptions and critiques the approach of imposing tariffs without a clear strategy, raising questions about their true effectiveness and potential for corruption.

Katya Schwenk and Luke Goldstein, reporters at The Lever, dive into Delaware's longstanding status as a corporate haven. They discuss the fierce competition it's facing from other states like Nevada and Texas, all while examining a controversial bill that could shield corporate executives from accountability. The conversation highlights the growing influence of oligarchs on legislation and the implications for democracy. Plus, they tackle how Elon Musk's actions could exacerbate the situation, making clear that Delaware's fate might affect everyone.