Robert Reich

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ROBERT B. REICH is Chancellor’s Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center for Developing Economies. He served as Secretary of Labor in the Clinton administration, for which Time Magazine named him one of the ten most effective cabinet secretaries of the twentieth century. He has written fourteen books, including the best sellers “Aftershock”, “The Work of Nations,” and"Beyond Outrage,“ and, his most recent, "Saving Capitalism.” He is also a founding editor of the American Prospect magazine, chairman of Common Cause, a member of the American Academy of Arts and Sciences, and co-creator of the award-winning documentary, INEQUALITY FOR ALL.
Updated: 1 hour 37 min ago

Trump’s Cruel and Deviant Budget

Tue, 05/23/2017 - 12:42
For years, conservatives warned that liberals were “defining deviancy downward.” They said that by...

Europe’s View of Trump

Sat, 05/20/2017 - 06:04
European governments, preparing for a round of major summits with Donald Trump, are wary. I spent...

The End of Trump

Sun, 05/14/2017 - 01:56
The question is no longer whether there are grounds to impeach Donald Trump. It is when enough...

Are There 22 Patriotic House Republicans?

Fri, 05/12/2017 - 15:53
Trump warning to former FBI Director James Comey against leaking anything negative about him –...

The Moral Travesty of Trumpcare

Sun, 05/07/2017 - 11:45
Shame on every one of the 217 Republicans who last Thursday voted to repeal the Affordable Care Act,...

Nos félicitations, Macron

Sun, 05/07/2017 - 11:37
Emmanuel Macron is the next president of France, defeating his far right rival Marine Le Pen by a...

The Attack on Western Democracy

Sat, 05/06/2017 - 13:14
Hopefully, Saturday’s hacked leaks purporting to show offshore accounts and tax evasion by France’s...

The Moral Travesty of Trumpcare

Fri, 05/05/2017 - 08:04
Shame on every one of the 217 Republicans who voted to repeal the Affordable Care Act on Thursday,...

TRUMP’S UNNECESSARY CRUELTYThe theme that unites all of Trump’s...

Wed, 05/03/2017 - 19:06


TRUMP’S UNNECESSARY CRUELTY

The theme that unites all of Trump’s initiatives so far is their unnecessary cruelty.

1. His new budget comes down especially hard on the poor – imposing unprecedented cuts in low-income housing, job training, food assistance, legal services, help to distressed rural communities, nutrition for new mothers and their infants, funds to keep poor families warm, even “meals on wheels.”

These cuts come at a time when more American families are in poverty than ever before, including 1 in 5 children. So, why is Trump doing this? To pay for the biggest hike in military spending since the 1980s – at a time when the U.S. already spends more on its military than the next 7 biggest military budgets put together.

2. Trump and his enablers in the GOP are on the way to repealing the Affordable Care Act, and replacing it in a way that could cause 14 million Americans to lose their health insurance next year, and 24 million by 2026.

Why is Trump doing this? To give $600 billion in tax cuts over the decade mostly to wealthy Americans, when the rich have accumulated more wealth than at any time in the nation’s history.

The plan reduces the federal budget by only $337 billion over the next ten years – that is a small fraction of the national debt, in exchange for the largest redistribution from the poor and middle class to the wealthy in modern history.

3. Trump is banning Syrian refugees and slashing the total number of refugees this year by more than half. This comes just when the world is experiencing the worst refugee crisis since World War II.

So, why is he doing this? Your odds of dying by a lightening strike are higher than by an immigrant terrorist attack. No terrorist attacker inside the U.S. has come from Syria (nor, for that matter, from any of the 6 countries in Trump’s current travel ban.)

4. Trump is rounding up undocumented immigrants helter-skelter – including people who have been productive members of our society for decades, and young people who have been here since they were toddlers.

Why is Trump doing this? These actions come when unemployment is down, crime is down, and we have fewer undocumented workers in the U.S. today than we did ten years ago.

Trump is embarking on an orgy of cruelty for absolutely no reason. This is profoundly immoral. It is morally incumbent on all of us to stop it.

Trump’s Banksters and the Rollback of Dodd-FrankDonald Trump has...

Mon, 05/01/2017 - 22:20


Trump’s Banksters and the Rollback of Dodd-Frank

Donald Trump has ordered a rollback of regulations over Wall Street, including the Dodd-Frank Act, passed in 2010 to prevent another too-big-to-fail banking crisis.

Perhaps Trump thinks that we’ve forgotten what happened when Wall Street turned the economy into a giant casino, and then – when its bets went sour in 2008 – needed a giant taxpayer funded bailout.

Maybe Trump thinks Americans forget losing their jobs, homes, and savings in the fallout.

Many people who voted for Trump got shafted. I hope they haven’t forgotten that while they suffered, not a single bank executive went to jail.  

Trump supporters need to join with Democrats and progressives in stopping this rollback, and holding Trump accountable.

The biggest banks are far bigger today than they were in 2008. Then, the five largest had 25 percent of U.S. banking assets. Today they have 44 percent. 

If they were too big to fail then, they’re too big period now. 

Getting rid of Dodd-Frank triples the odds of another financial crisis. 

Meanwhile, Trump has brought more banksters into his administration than any in any previous administration – mostly, from Goldman Sachs. 

The head of Trump’s economic council is Gary Cohn who was president of Goldman Sachs. Other Goldman alumni include Trump’s right hand man, Steve Bannon, Trump’s pick for Treasury, Steve Mnuchin, Trump’s pick for the securities and exchange commission, Jay Clayton and another White House advisor, Dina Powell. 

Now remember, a decade ago, Goldman Sachs defrauded investors and ripped off its customers and it’s paid nearly $9 billion in government fines. 

Many of Trump’s banksters were there at that time. 

Don’t let Trump and the Republicans endanger our economy again. Let’s not make the same mistake twice.

The Authoritarian President

Sun, 04/30/2017 - 14:50
After more than 100 days into his presidency, it seems fair to ask: What is Donald Trump’s governing...

Trump’s Unconstitutional Assault on the Judiciary

Wed, 04/26/2017 - 22:22
One way dictators take over democracies is by threatening the independence of a nation’s courts....

5 Reasons Why Trump’s Corporate Tax Cut is Appallingly Dumb

Tue, 04/25/2017 - 14:39
Trump wants to cut the corporate tax rate from 35 percent to 15 percent, in order to “make the...

First 100 Days: Trump and the Degradation of the Presidency

Sun, 04/23/2017 - 10:08
Trump’s failure to accomplish little or any of his agenda during his first 100 days shouldn’t...

Free Speech (Update)

Wed, 04/19/2017 - 16:24
Coulter is back. Today (Thursday), officials at the University of California, Berkeley, changed...

4 REASONS WHY TRUMP’S PLAN TO STRIP THE IRS IS INCREDIBLY...

Tue, 04/18/2017 - 12:58


4 REASONS WHY TRUMP’S PLAN TO STRIP THE IRS IS INCREDIBLY DUMB

Donald Trump is proposing a 14.1 percent cut in the I.R.S.’s budget next year. This is incredibly dumb, for four reasons:

1. It won’t save money. To the contrary, this move worsens the budget deficit. That’s because every dollar spent by the IRS to collect taxes generates $4 in unpaid taxes.

2. It worsens the federal budget deficit. The current estimate of unpaid taxes per year is almost as large as the federal government’s annual budget deficit.

3. It widens inequality. Since most IRS audits are of high-income people, the real beneficiaries of Trump’s move are the wealthy, more of whom will now be able to skirt their duty to pay taxes.

4. The IRS is already understaffed. The number of individual tax return audits fell last year to its lowest level since 2004, and enforcement levels were already down by nearly 30 percent from 2010.

Donald Trump hates the IRS and has spent years battling it. There’s reason to think he doesn’t even want to pay his own taxes. But this is no reason to explode the Federal Budget Deficit and give another windfall to the rich.

The Only Real “Centrist” Agenda

Mon, 04/17/2017 - 15:25
With Steve Bannon on way out, official Washington is jumping for joy that Gary Cohn – the...

The Trump Doctrine

Sat, 04/15/2017 - 13:22
What’s the “Trump Doctrine” of foreign policy? At first glance, foreign policy under Trump seems...

The World According to Trump

Thu, 04/13/2017 - 16:31
The starkest difference between dictatorships and democracies is that democracies are ruled by laws,...

Why is the Department of Justice Defending Trump’s Fleecing of America?

Wed, 04/12/2017 - 15:01
Trump’s business (now run by his two adult sons) has 157 trademark applications pending in 36...