Any self-respecting Treasury Secretary would resign rather have the Department be complicit in the weaponization of the IRS against a political adversary of the President. Harvard will endure and it is far, far from perfect, but if this directive is not withdrawn, the Administration will have taken another substantial step away from the rule of law and democracy.
.@SecScottBessent is derelict with respect to what may be his most important duty—maintaining law-based rights respecting our tax collection system. DOGE violating privacy rules, evisceration of enforcement capacity, politicization of leadership and now political intrusion into a specific taxpayer’s status.
The result will be revenue losses of a trillion dollars or more over the next decade. The erosion of American democracy has costs that cannot be priced.
George Shultz met his test by facing down President Richard Nixon when his staff tried to interfere with the IRS. Tragic that @SecScottBessent has not protected the IRS.
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Developments in the last 24 hours suggest we may be headed for serious financial crisis wholly induced by US government tariff policy.
Long-term interest rates are gapping up, even as the stock market moves sharply downwards. This highly unusual pattern suggests a generalized aversion to US assets in global financial markets. We are being treated by global financial markets like a problematic emerging market.
This could set off all kinds of vicious spirals, given government debts and deficits and dependence on foreign purchasers.
I am profoundly saddened and alarmed by @Columbia University and @PaulWeissLLP law firm's capitulation to the increasingly dictatorial Trump administration.
I cannot judge, because I do not have many of the relevant facts, the wisdom or necessity of the steps taken.
But this kind of bending of the knee by major institutions, if continued, threatens American democracy.
There is strength in numbers, and I hope across American universities and American institutions more broadly there will be organization for collective resistance to extortionate government demands.
Harvard continues its failure to effectively address antisemitism.
Despite President Garber’s clear and strong personal moral commitment, he has lacked the will and/or leverage to effect the necessary large scale change, and the Corporation has been ineffectual.
Harvard’s CMES, where Harvard task force head Derek Penslar has remained a faculty affiliate, hosted a panel on “Israel’s war on Lebanon” that very likely was antisemitic, according to the IHRA definition the University recently adopted under legal duress.
As with antisemitic statements like Dean Marla Frederick’s address at the Divinity School Convocation--where she endorsed the term Nakba and drew qualified parallels between Israel’s founding and the Holocaust--University leadership has been silent.
.@realDonaldTrump's tariffs are a bully strategy. Bullying doesn’t win over time on the playground or in the international arena. This self-inflicted supply shock is a strategic gift to Xi Jinping. 1/4
Just when inflation is sensitive, it will risk price increases for oil, food, and cars and may lead the @federalreserve needing to raise interest rates. 2/4
Jobs in the industrial heartland will be lost as American producers can’t compete due to higher input costs. Canada and Mexico will lose trust in us and retaliate as their economies suffer. Immigration and drug risks will increase. 3/4
Aside from the general issues about Trump‘s tariff and his economic nationalism strategy, today’s actions against Canada and Mexico are inexplicable and dangerous. 1/8
First, the tariffs will raise prices on automobiles, gasoline, and all kinds of things that people buy. 2/8
Second, as the tariffs are passed on to consumers and then other firms raise prices to match their competitors higher prices, this will hurt American job creation by making American firms less competitive. Much of what we export, involves imported inputs. Cars move back-and-forth across the border between five and ten times during assembly. This makes the whole of North America much less competitive, relative to Europe and Japan. 3/8
I was very disappointed that the Harvard Law Student Government endorsed divesting in Israel. This following on what the Harvard Graduate Student Union did some time ago illustrates that there is a pervasive prejudice problem on the Harvard campus.
I continue to believe that BDS advocacy, if heeded, would represent anti-semitism in effect, if not intent.
Despite the fact that actions like this damage Harvard’s reputation and reflect on all in the Harvard community, academic freedom is a paramount value. Students have every right to speak as they wish. There are no grounds for discipline. And certainly there should be plenty of room for debate over Israeli policy. I certainly have profound disagreements with PM Netanyahu and with Israeli actions in Gaza. But academic freedom does not include freedom from criticism or responsibility.