The Wall Street Journal Editorial Board is reporting on several key political and economic issues. It said that Representative Ro Khanna's proposal for a wealth tax is a "not-so-bright idea." The board also commented on South Carolina Senate candidate Darline Graham's "goof" regarding Taiwan, noting that her competitor Ralph Norman's response was also problematic.
On national debt, the editorial board is reporting that the U.S. reaching $40 trillion in debt is primarily due to government spending being "way above historical norms," rather than tax cuts. It also stated that a new poll contradicts House Minority Leader Hakeem Jeffries' claim that the Supreme Court is a "MAGA 'subsidiary'," suggesting the court holds a popular mandate.
In commentary, Les Ford and Paul Ryan are reporting for the Journal that the 1996 welfare reform successfully moved people from dependency to work, advocating for similar reforms again. Amy Knight is reporting that growing dissent among Russia's political elites, evidenced by the firing of a high-profile economist, reveals President Vladimir Putin's anxiety over internal opposition to the war. Thomas Beck is reporting that "Medicare for All" proposals fail to account for how private insurance payments currently subsidize care for the elderly. Joseph C. Sternberg is reporting that the Federal Reserve's reduced willingness to subsidize government spending, which he terms "bond chaos," is a positive development.
The Journal's opinion section also noted President Donald J Trump is pausing 50% tariffs on Canadian imports, including hockey sticks and building materials, citing a nearing agreement. It said Trump also extended a Jones Act waiver, allowing U.S. fuel to be shipped freely to California.