Robert Reich: Taxpayers are subsidizing sky-high executive compensation. That’s because corporations deduct it from their income taxes, causing the rest of us to pay more in taxes to make up the difference.
Robert Reich: Harry Reid may now be able to summon 51 votes to abolish the filibuster, at least for cabinet officials and other high-level policy makers. But that shouldn’t be considered a victory. It’s a sad commentary on where we’ve come to.
Robert Reich: The real answer is the Republican base is far more entrenched, institutionally, than was the old Democratic base.
Robert Reich: Who needs Republicans when Wall Street has the Democrats? With the help of congressional Democrats, the Street is rolling back financial reforms enacted after its near meltdown.
Robert Reich: The fact is, global corporations have no allegiance to any country; their only objective is to make as much money as possible — and play off one country against another to keep their taxes down and subsidies up.
Robert Reich: Is the central goal of his second term to achieve a grand bargain on the budget deficit? Or progress on gun control? Or restore jobs? Or reform the immigration laws? It is difficult to tell.
Robert Reich: When Republicans can’t directly repeal laws they don’t like, they repeal them indirectly by hollowing them out — denying funds to fully implement them, and reducing funds to enforce them.
Robert Reich: The horror of the Boston Marathon is real. But the xenophobic fears it has aroused are not. I would have hoped United States senators felt an obligation to calm public passions than pander to them.
Robert Reich: We’re now witnessing what happens when all of the economic gains go to the top, and the rest of the population doesn’t have enough purchasing power to keep the economy going.
Robert Reich: The President needs to deliver the same message to the public, loudly and clearly. The biggest problems we face are unemployment, stagnant wages, slow growth, and widening inequality — not deficits. The major goal must be to get jobs and wages back, not balance the budget.
Robert Reich: Austerity economics — of which Ryan’s upcoming budget is the most extreme version — is a cruel hoax. Cruel because it hurts most those who are already hurting; a hoax because it doesn’t work.
Robert Reich: I suggest the President forget about a “grand bargain.” In fact, he should stop talking about the budget deficit and start talking about jobs and wages, and widening inequality – as he did in the campaign. And he should give up all hope of making a deal with the Tea Partiers who now run the Republican Party.
Robert Reich: So where’s the outcry? Why aren’t more people up in arms? Why aren’t big businesses (including major military contractors) and Wall Street screaming into the ears of the GOP? Where’s the outrage from Main Street?