Robert Reich: Does anyone seriously believe hedge-fund mogul Steven A. Cohen is worth the $2.3 billion he raked in last year, despite being slapped with a $1.8 billion fine after his firm pleaded guilty to insider trading?
Robert Reich: Since 2000, almost every big American multinational corporation has created more jobs outside the United States than inside. If you add in their foreign sub-contractors, the foreign total is even higher.
Robert Reich: The “self-made” man or woman, the symbol of American meritocracy, is disappearing. Six of today’s ten wealthiest Americans are heirs to prominent fortunes.
Robert Reich: The story behind story is that America is in an era of sharply rising inequality, with a few at the top doing fabulously well but most Americans on a downward economic escalator.
Robert Reich: Business leaders know the U.S. economy can’t get out of first gear as long as wages are declining. And their own businesses can’t succeed over the long term without a buoyant and growing middle class.
Robert Reich: So why do so many right-wing Republicans tell these three lies? Because they make it almost impossible to focus on what the poor really need – good-paying jobs, adequate safety nets, and excellent schools.
Robert Reich: The gains from a higher minimum wage extend beyond those who receive it. More money in the pockets of low-wage workers means more sales, especially in the locales they live in – which in turn creates faster growth and more jobs.
Robert Reich: Although Walmart is no Bull Connor, it’s the poster child for keeping low-wage workers down. America’s largest employer, with 1.4 million workers, refuses to provide most of them with an income they can live on.
Robert Reich: For every 100,000 births in America last year, 18.5 women died. That’s compared to 8.2 women who died during pregnancy and birth in Canada, 6.1 in Britain, and only 2.4 in Iceland.
Robert Reich: At a time in our history when 95 percent of all economic gains are going to the top 1 percent, raising the minimum wage to $15 an hour isn’t just smart economics and good politics. It’s also the morally right thing to do.
Robert Reich: Connect the dots and you see how the big-money takeover of our democracy has lead to an economy that’s barely functioning for most Americans.
Lousy Jobs Report: As companies focus on short-term prices at the expense of long-term growth, we’re in for years of sluggish performance.
Widening Inequality — America’s savage inequality is the main reason equal opportunity is fading and poverty is growing.