This week's current events:

• A few Republican primaries have further consolidated Donald Trump's hold over the party, with victories by his preferred candidates
• Discussing the chances the Democrats hold control of the Senate
• A judge overturned an NLRB decision designed to increase labor standards in large franchises
• A U.N. climate organization has issued a new "red alert" regarding the state of the planet
• The EPA has issued new emissions limits to regulate how many new cars put out are EVs
• Fossil fuel subsidies have been impossible to kill
• A new surge in U.S. energy demand is putting Biden's climate goals at risk
• Joe Manchin is looking to pass permitting reform before the end of this session of Congress
• A new law passed on Hong Kong brings its government in line with China's as far as its restriction of freedoms

This week's deep dive is about the capital gains tax. We look at the history of this tax, the difference between long term and short term rates, and how we think the rates should compare to labor income tax rates.