The Week Evening Review
Our corporate tax future, Boeing-created travel woes, and pickle juice for wellness

 
TODAY'S BIG QUESTION

What will the US election mean for corporate taxes?

The outcome of the 2024 presidential election will trigger a "colossal multitrillion-dollar fight over taxes," said Semafor. Big chunks of Donald Trump's 2017 tax cut law will expire in 2025, giving whoever wins the White House and Congress the "opportunity to rewrite much of the IRS code." 

Trump recently told a gathering of CEOs that he plans new cuts to corporate taxes, though it's not clear he would have the rest of the GOP on board. "Anti-corporate sentiment is running high among increasingly populist-minded Republicans," said Politico. President Joe Biden has offered proposals "aimed at raising taxes on multinational corporations and the richest Americans."

What did the commentators say?
"The time is now to curb the corrosive concentrations of extreme wealth and corporate power," Irit Tamir, a director at Oxfam, said at Fortune. While the official corporate tax rate is 21%, the "effective" tax rate — what corporations actually pay after deductions — can be much lower. The pharmaceutical industry, for example, pays an effective tax rate of 11.6%. "This is far lower than what the average American pays." Any new tax structure that preserves low rates for corporations and the rich will "further inequality in this country."

"Who pays corporate taxes? Look in the mirror," Phil Gramm and Mike Solon said at The Wall Street Journal. The economics are simple: "When the corporate tax rate increases, corporations try to pass the cost on to consumers." One recent Treasury study revealed that Americans pay more in corporate taxes than in individual taxes. "By taxing corporations, the Democrats are taxing the American people."

What next?
Like in 2020, Biden is running on a promise to make the wealthy and corporations pay their "fair share," said The New York Times. But as president, he has cut taxes for both businesses and individuals, to the tune of roughly $600 billion over four years. That's in large part because Congress hasn't gone along with Biden's "most ambitious tax-raising plans," said the Times, and because he has used corporate tax breaks to grow industries like semiconductor and electric vehicle manufacturing.

Despite his promise of corporate tax cuts, Trump may have trouble getting traction with the CEOs of America's biggest companies, said Axios. No leader of a Fortune 100 company has donated to the former president's campaign.

 
 
In the Spotlight

Boeing's problems could create summer travel havoc 

Boeing has been besieged with numerous problems over the past half-decade, and some experts say that summer 2024 will bring extra headaches for vacation-goers. The U.S. airplane manufacturer is experiencing aviation supply chain issues as it struggles to temper concerns over the safety of its airplanes. This will likely drive up the cost of traveling, so some people may have to put that summer jaunt on the back burner. 

What's causing problems? 
After a series of high-profile incidents, including the door plug being blown off of an Alaska Airlines flight, Boeing saw "intense federal and public pressure to improve the quality of its planes," and as a result, the company's "production of 737 Max jets has slowed to a trickle," said Forbes. 

This past March, Boeing delivered 24 planes to airline clients — a 53% decrease year-over-year, according to Forbes. During the first two weeks of April, the company delivered just three planes. In all, U.S. airlines are on track to receive 301 passenger airplanes in 2024 — 40% fewer planes than initially expected this year. 

U.S. officials "ordered a limit on the aircraft's manufacturing" following the Alaska Airlines incident, said Bloomberg. While this was "intended to focus Boeing on safety, the move has put a major dent in the production of new planes, with thousands already on back order."

How will this affect summer travelers? 
Vacationers "should expect to pay more for plane tickets this summer, as airline capacity struggles to keep up with demand," said Business Insider. This is especially true because 2024 is slated to break records for the most air passengers ever, with the International Air Travel Association predicting 4.7 billion travelers. 

Airfares "should stay elevated through 2024," Robert Mann, the founder of airline consulting firm R.W. Mann & Company, said to CNN. While most of these issues will involve domestic flights, there are international concerns, too. Michael O'Leary, the CEO of Irish carrier Ryanair, said the airline may see its ticket prices rise to 10% due to Boeing delivery delays, according to Barron's. 

 
 

Statistic of the day

230M: Tons of precious minerals found on the seabed near the remote Japanese island of Minami-Torishima. The massive group of manganese nodules was discovered by researchers and contains materials needed for building EV batteries. This includes 610,000 metric tons of cobalt and 740,000 metric tons of nickel, enough to last Japan 75 years. 
Business Insider

 
 
QUOTE OF THE DAY

'If he doesn't literally light himself on fire on Thursday evening, some will say he was downright presidential.'

Hillary Clinton on how low expectations are for Donald Trump in his upcoming debate with President Joe Biden, in an op-ed for The New York Times. When she debated Trump, it was "nearly impossible to identify what his arguments even are," as he "starts with nonsense and then digresses into blather," she said.

 
 
the explainer

Pickle juice: the anti-cramp wellness trend

From tennis pros to soccer stars, athletes are downing pickle juice. This latest wellness trend may sound awful, but it's being embraced for helping to combat muscle cramping.

What's in it exactly? 
The "unpalatable-sounding" drink is "similar to the liquid inside your jar of pickled onions or gherkins," said The Times. But the "tart tipple" has many benefits "if you can stomach it." 

It can be more than "leftover brine," said Florence Cherruaultis, the founder of The Pickle House. Her signature Original Pickle Juice is brewed for 18 weeks with sliced cucumbers and spices and promises to be "both sweet and savory." 

Due to pickle juice's high salt content, it's recommended to drink no more than about 80 milliliters, said the Daily Mail. But the "strong flavor" works well when mixed with fruit juices and bitters in a mocktail. 

How does it work? 
Pickle juice has been found to stop cramping 40% faster than drinking water. Although the juice contains sodium, potassium and vinegar, which could replace the salts athletes have lost, it's "actually something different" that "makes it effective," said the BBC. When drunk, pickle juice "triggers a reflex in the mouth" that "sends a signal to stop muscles from cramping." So even though the salty brine might "sound a bit bonkers," said the Daily Mail, there's a "method to the madness." 

Pickle juice is also low in calories and contains vitamin C and potassium. It provides a "dose of probiotics, the healthy bacteria that can improve gut health," sports nutritionist Rob Hobson said to The Times, making pickle juice popular beyond the world of sports. 

It has been used in tennis for some time, with Wimbledon men's champion Carlos Alcaraz knocking it back during his five-set victory over Novak Djokovic last summer. As far back as 2019, athletes were turning to this "unusual drink" to "boost performance," said the BBC.

 
 

Good day ?

… for China's space program. The country's lunar module Chang'e-6 returned to Earth with a capsule of lunar soil from the far side of the moon, the "first mission in human history" to do so, said Long Xiao, a planetary geologist at China University of Geosciences. Chinese leader Xi Jinping hailed the mission as "another landmark achievement in building a strong country in space, science and technology."

 
 

Bad day ?‍⚖️

… for a "Bob's Burgers" actor. Jay Johnston, who used to voice the character Jimmy Pesto, will plead guilty on July 8 to charges related to his participation in the Jan. 6 Capitol riot, NBC News said. He was charged with felony obstruction of officers during civil disorder, unlawful entry on restricted buildings or grounds, and impeding passage through Capitol grounds. Johnston was fired from his role on the show in December 2021. 

 
 
Picture of the day

Anti-tax protest

Police use water cannons on protesters in Nairobi. At least 10 demonstrators were reportedly shot dead, and the Kenyan capital's parliament was set on fire after a controversial tax bill was passed.
Tony Karumba / AFP via Getty Images

 
 
Puzzles

Test your general knowledge with The Week's daily crossword, part of our puzzles section, which also includes sudoku and codewords

 
 
The Week recommends

With this year's Atlantic hurricane season predicted to have above-normal activity, some are contemplating scratching the Caribbean off their summer travel list. Instead, keep it on there and head to Aruba, Bonaire or Curacao, three islands in the South Caribbean that are off the storm path.

Aruba
If you had to pick an island to be stranded on, this is the one. Home to pristine white sand beaches, Aruba enjoys an average annual temperature of 82 degrees with breezes courtesy of trade winds. To get a sense of Aruban hospitality, check into a smaller property like Ocean Z boutique hotel. The resort is "far from the touristy fray" and "across from the wild and scenic Malmok Cliffs," said Fodor's. 

Bonaire
The small island of Bonaire (pictured above) offers a big payoff for scuba divers and snorkelers. All around this island, there's a "vibrant world under the sea," with coral reefs "just a few feet from the shoreline," making dozens of dive sites accessible without a boat, said Lonely Planet. The National Marine Park covers the entire sea around Bonaire, starting at the high water line down to a depth of 200 feet, so protecting the reef is serious business here.

Curacao
The largest of the ABC islands, Curacao has a vibrant culture courtesy of its "mix of African, Caribbean, Creole, Dutch, Spanish and Portuguese influence," Afar said. Just like its sister islands, Curacao has beautiful beaches — more than 30 of them — and world-class diving opportunities. Visit the Tugboat shipping wreck that's "only 15 feet deep and covered with tube sponges and coral," Condé Nast Traveler said.

 
 

Poll watch

Stress levels have fallen globally but remain present everywhere, according to a new Gallup poll. Gallup surveyed nearly 146,000 people in 142 countries and found that 37% answered "yes" when asked if they had felt stressed the previous day. This is a three-point decrease from 2023 but still higher than the 33% stress level seen a decade ago. 

 
 
INSTANT OPINION

Today's best commentary

'US shouldn't draft women — or men. We need to keep an all-volunteer military.'
Marla Bautista at USA Today 
"Requiring women to register for the Selective Service would be a significant step toward gender equality in national defense," but "compulsory service could lead to a less motivated and less cohesive military," says Marla Bautista. The strength of the military "lies in its all-volunteer force, where men and women willingly choose to serve." Instead of a draft, the U.S. should "make military service a more attractive option for women and men who freely choose to enlist."

'Don't fall for Putin's Crimea cries — he's coldly preying on Biden's escalation fears'
Mark Toth and Jonathan Sweet at the New York Post
The Kremlin is "mightily crying foul and essentially accusing Ukraine and the United States of violating the Geneva Conventions," but "this is projection at its absolute worst," say Mark Toth and Jonathan Sweet. It's "not the time for the White House to fall again for Putin's escalation bluster or allow Ukraine to be further handcuffed." Russia is "endeavoring to paralyze the Biden administration into submission — yet, somewhat laughably, is doing so from a position of weakness."

'Europe may be declining, but America isn't'
Walter Russell Mead at The Wall Street Journal 
"Talk of U.S. decline has become fashionable again," but "after a long look at Europe, I'm not convinced," says Walter Russell Mead. Europe "remains locked in denial about how grim the global situation has become — and how rapidly German and European influence is evaporating around the world." If we "keep developing new technologies, integrating immigrants and generating wealth on a staggering scale, American society will be too dynamic for decadence and too busy for decline."

 
 
WORD OF THE DAY

originalism

A type of judicial interpretation of the Constitution that aims to follow how it would have been understood or was intended to be understood at the time it was written. The Supreme Court recently used this to justify upholding a ban on possessing guns for people with restraining orders in domestic violence cases. 

 
 

Evening Review was written and edited by Theara Coleman, Nadia Croes, Catherine Garcia, Scott Hocker, Anya Jaremko-Greenwold, Justin Klawans, Harold Maass, Joel Mathis, Summer Meza, Chas Newkey-Burden, Devika Rao, Rafi Schwartz, Anahi Valenzuela and Peter Weber, with illustrations by Stephen Kelly and Julia Wytrazek.

Image credits, from top: Illustration by Stephen Kelly / Getty Images; Luis Robayo / AFP via Getty Images; Illustration by Stephen Kelly / Getty Images; Angelita Niedziejko / Getty Images