Robert Reich: Major players on Wall Street have been making tons of money not because they’re particularly clever but because they happen to be in the realm where a lot of coins come their way.
Robert Reich: The Democrats’ unwillingness to close the carried-interest loophole when they could also goes some way to explaining why, almost six years after Wall Street’s near meltdown, the Obama administration has done so little to rein in the Street.
Robert Reich: Education is no longer just a gateway into the American middle class. Getting a better education than almost everyone else is the gateway into the American elite.
Robert Reich: A college degree no longer guarantees a good job. The main reason it pays better than the job of someone without a degree is the latter’s wages are dropping.
Robert Reich: The richest Americans hold more of the nation’s wealth than they have in almost a century. What do they spend it on? As you might expect, personal jets, giant yachts, works of art, and luxury penthouses.
Robert Reich: If you want a single reason for why Democrats lost big on Election Day 2014 it’s this: Median household income continues to drop.
Robert Reich: Most Americans aren’t suicidal, and most don’t work at the minimum wage. But many are deeply anxious about their jobs and panicked about how they’re going to pay next month’s bills.
Robert Reich: The real crisis is the hysteria over Ebola that’s being fed by media outlets seeking sensationalism and politicians posturing for the midterm elections.
Robert Reich: While other nations set wholesale drug prices, the law prohibits the U.S. government from using its considerable bargaining power under Medicare and Medicaid to negotiate lower drug prices.
Robert Reich: The real job creators are members of America’s vast middle class and the poor, whose purchases cause businesses to expand and invest.
Robert Reich: If a soda tax can’t pass in the most progressive city in America, it can’t pass anywhere. Big Soda knows that, which is why it’s determined to kill it here.
Robert Reich: Millions of young people head to college and universities to get a four-year liberal arts degree assuming it to be the only gateway to the middle class. It shouldn’t be.
Robert Reich: 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.