Robert Reich
Robert Reich
Robert Bernard Reichis an American political commentator, professor, and author. He served in the administrations of Presidents Gerald Ford and Jimmy Carter and was Secretary of Labor under President Bill Clinton from 1993 to 1997...
NationalityAmerican
ProfessionEconomist
Date of Birth24 June 1946
CountryUnited States of America
best interests money
The monied interests are doing what they do best - making money. The rest of us need to do what we can do best - use our voices, our vigor, and our votes.
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Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all.
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Not only do unemployment benefits help families who are hurting; they also put money into their pockets that they'll then spend - and their spending will keep other Americans in jobs.
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Nations are becoming less relevant in a world where everyone and everything is interconnected. The connections that matter most are again becoming more personal.
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In the 1980s, corporate raiders began mounting unfriendly takeovers of companies that could deliver higher returns to their shareholders - if they abandoned their other stakeholders.
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In 1968, the sanitation workers of Memphis tried to form a union. The city resisted. The Rev. Martin Luther King, Jr. came to support them. That was where he lost his life.
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During three decades from 1947 to 1977, the nation implemented what might be called a basic bargain with American workers. Employers paid them enough to buy what they produced.
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America spends a fortune on drugs: more per person than any other nation on earth, even though Americans are no healthier than the citizens of other advanced nations.
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Teachers, social workers, public lawyers who bring companies to justice, government accountants who try to make sure money is spent as it should be - all need at least four years of college.
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Official boundaries are often hard to see. If you head north on Woodward Avenue, away from downtown Detroit, you wouldn't know exactly when you left the city and crossed over into Oakland County - except for a small sign that tells you.
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A Democratic president should propose a major permanent tax reduction on the middle class and working class. I suspect most of the public would find this attractive.
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The curious thing is Americans don't mind individual mandates when they come in the form of payroll taxes to buy mandatory public insurance. In fact, that's the system we call Social Security and Medicare, and both are so popular politicians dare not touch them.
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Economies are risky. Some industries rise, and others implode, like housing. Some places get richer, and others drop, like Atlantic City. Some people get new jobs that pay better, many lose their jobs or their wages.
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What someone is paid has little or no relationship to what their work is worth to society.