Robert Reich: Middle-class consumers won’t and can’t spend because their savings are depleted, their homes are worth a fraction of what they were five years ago, their wages are dropping, and they’re worried about keeping their jobs.
Robert Reich: omney admits to an income of over $20 million a year for the last several decades. Which makes his 13 percent — or even 20 percent — violate the principle of equal sacrifice that lies at the core of our notion of tax fairness.
Robert Reich: While Bill Clinton stumps for Obama, Romney has gone out of his way not to mention the name of the president who came after Clinton and before Obama.
Robert Reich: The worst economy since the Great Depression and you might think at least one of the candidates would come up with a few big ideas for how to get us out of it. But you’d be wrong.
Robert Reich: We spend billions on Cold War weapons systems like nuclear attack submarines, aircraft carriers, and manned combat fighters that pump up the bottom lines of defense contractors but have nothing to do with 21st-century combat.
Robert Reich: Obama can can take on Romney and the system that allows private-equity managers to continue to make huge profits at the expense of average Americans.
Robert Reich: Let’s also stop hoping Wall Street will mend itself. What just happened at J.P. Morgan reveals how fragile and opaque the banking system continues to be.
Robert Reich: The answer is to reform capitalism. The world’s productivity revolution is outpacing the political will of rich societies to fairly distribute its benefits.
Robert Reich: @idening inequality is the underlying culprit. As long as almost all the gains from economic growth continue to go to the top, the vast middle class doesn’t have the purchasing power to boost the economy on its own.
Robert Reich: Most of the gains from the productivity revolution are going to the owners of capital, while typical workers are either unemployed or underemployed, or else getting wages and benefits whose real value continues to drop.
Robert Reich: How can a political party be so dumb as to piss off Hispanics, women, and young people? Because the core of its base is middle-aged white men.
Robert Reich: Republicans have become the U.S. party of Angela Merkel, demanding and getting spending cuts at the worst possible time – and ignoring the economic and social consequences.
Robert Reich: What makes America’s current polarization remarkable isn’t the severity of our disagreements but our utter lack of engagement debating them.