Robert Reich

Berkeley professor, former Secretary of Labor. Co-founder of Inequality Media. Sign up for updates, analysis and drawings: http://robertreich.substack.com

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Last Notes

2024-08-20 14:05:03

Here’s Why Prices Are Still High | Robert Reich https://www.youtube.com/watch?v=4L6bjQNOZ0E&utm_source=dlvr.it&utm_medium=mastodon

2024-08-15 18:36:04

Just four companies in the U.S. control:
85% of beef processing
80% of corn seed distribution
77% of fertilizer production
69% of grocery sales
Wondering why food prices are so high?
Minimal competition means maximized price-gouging.

2024-08-06 23:03:33

"I can't wait to debate [JD Vance]… that is if he's willing to get off the couch and show up." -Gov. Tim Walz

2024-08-06 22:43:35

"Make no mistake. Violent crime went up under Trump. That's not even including the crimes he committed." -Gov. Tim Walz

2024-08-06 20:48:03

Russ Vought will likely be appointed to a high-ranking post if Trump wins a second term. He's reportedly drafting a “180-Day Transition Playbook” to help the administration.
Guess what else he helped write?
Project 2025.
The document embodies what the MAGA movement stands for.

2024-08-06 18:02:04

Democrats picked a former public school teacher for VP.
The GOP bans books.
Dems picked a union member as VP.
The GOP wants to gut unions.
Dems picked a VP who protected abortion access.
The GOP wants to take that access away.
I could go on...but the contrast is clear.

2024-08-06 16:41:04

Trying to control when and how Americans can start a family is weird. Trying to restrict abortion, IVF, adoption, and even birth control is weird.
Trying to micromanage where children can go to the bathroom is weird.

2024-08-06 14:50:03

The GOP will try to paint Tim Walz as "extreme."
What's extreme about ensuring paid leave for workers? Or providing free meals for students? Or banning junk fees? Or capping insulin prices? Or protecting reproductive rights?
What he's done in Minnesota is a vision for America.

2024-08-05 23:19:35

Undocumented immigrants paid $97B in taxes in 2022.
They paid a higher state/local tax rate than the top 1% in a majority of states.
They contributed $26B to Social Security, which they can't benefit from.
Remember this the next time the undocumented are called "freeloaders."

2024-08-05 21:49:05

Clarence Thomas ruled in favor of Citizens United. Harlan Crow and his family's political contributions then went up 862%. Then we later find out Thomas let Crow take him on lavish trips, buy his mom's house, and help fund his wife's conservative nonprofit. See how this works?

2024-08-05 18:44:06

Trump never divested from his businesses when he became president.
Forbes now estimates that he earned $550 million during his time in office.
A huge chunk of that came from foreign investors and governments.
Whose payroll will he be on if he gets back in the White House?

2024-08-05 18:01:33

Clarence Thomas has either taken so many luxury vacations provided by billionaires that he can't keep track of them, or he's deliberately trying to hide the trips by not disclosing them. Either way he should not be on the Supreme Court.

2024-08-05 16:39:02

Justice Neil Gorsuch warned President Biden to "be careful" with Supreme Court reforms.
But Gorsuch sold property to the CEO of a law firm that regularly argues cases before the Court.
He never disclosed the buyer and he didn't recuse himself from cases.
Hello?

2024-08-04 23:02:33

CEO pay is skyrocketing at the highest rate in 14 years.
It's increasing almost 3x faster than wage growth.
This explosion in CEO pay relative to the pay of workers isn’t because CEOs have become so much more valuable.
They've just gamed the system to line their pockets.

2024-08-04 15:38:02

How we beat back the corporate takeover of America:
1. Break up corporate monopolies
2. Continue building union power
3. End Citizens United and get big money out of politics
Let’s keep working to unrig the system.

2024-08-03 16:47:06

Team USA is bringing home the gold.
Team Kamala is bringing home a pot of gold, with record-breaking campaign fundraising.
Team Trump? No gold, just old

2024-08-02 19:04:03

To recap, the Republican Party has opposed:
-Paid sick leave
-Paid family & medical leave
-Universal childcare
-Universal pre-K
-Tax increases on corporations & the rich
-The expanded Child Tax Credit
-Student debt relief
Doesn't sound like the party of the working class to me.

2024-08-02 17:43:03

Every reporter needs to ask Trump if he'll commit to leaving office in four years if he's reelected. He's increasingly hinting that he would not.

2024-08-02 00:06:03

Remember: The oligarchs who control our economy and democracy seek to divide us so they can become more powerful.
They want us to turn on each other so we don't look up and see where all the wealth and power have gone.
Don't fall for it.

2024-08-01 18:07:04

14,000 Disneyland workers organized and won a 31% raise after threatening to strike.
It’s their biggest ever wage increase.
We are witnessing a historic rebirth of worker power, and I couldn't be happier to see it.
Take note: There's strength in a union.

2024-08-01 08:06:07

Trump's Meltdown https://robertreich.substack.com/p/trumps-meltdown?utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/885/731/572/833/445/original/dcbe78f72fb14596.jpeg

2024-07-31 23:07:04

Trump's racist comments today are no surprise.
Trump & his father got caught committing racial housing discrimination.
Trump entered politics with the racist birther lie.
There's a reason Trump was endorsed by the David Duke and the KKK's newspaper.
This is who he is.

2024-07-31 21:19:06

At least 70 election deniers are overseeing elections in key swing states.
Understand that this not a response to "voter fraud." That's a myth. It is a response to voter turnout.
The GOP knows they can't win on their ideas alone.
How should we respond? Keep turning out.

2024-07-31 20:32:07

Boar’s Head is recalling 7 million pounds of deli meat due to a listeria outbreak.
Who issued the recall to protect consumers? The USDA.
Who just released a budget proposal that cuts USDA funding? House Republicans.
Tells you everything you need to know about the GOP's agenda.

2024-07-31 19:06:03

J.D. Vance says childless people "don't really care about the future."
But he opposes laws on guns (the #1 cause of child death) and wants to burn more fossil fuels, which poison the world our children will inherit.
Does Vance care about his own children's future?

2024-07-31 16:01:35

John Deere announced another round of layoffs last week, impacting hundreds of workers.
But the company reported a profit of over $10 billion in 2023.
Its CEO received $26.7 million in compensation.
And it spent over $7 billion on stock buybacks.
Textbook corporate greed.

2024-07-31 00:03:03

Trump is distancing himself from Project 2025 because people finally found out about how bonkers it is.
But at least 140 people who worked for Trump in the past were involved in crafting the platform.
It embodies everything he stands for.
Keep talking about it.

2024-07-30 19:15:33

2024-07-30 17:49:04

Undocumented immigrants paid $97 billion in federal/state/local taxes in 2022.
They take on our most difficult and essential jobs while helping fund programs they can't even benefit from.
Remember this the next time Trump demonizes the undocumented or calls them "freeloaders."

2024-07-29 22:35:07

The DOT regulated junk fees. Airlines sued.
The CFPB capped credit card fees. Banks sued.
Medicare is negotiating Rx prices. Big Pharma sued.
The FTC banned noncompetes. Business groups sued.
Corporate America can't stand how the Biden-Harris admin is working for the people.

2024-07-29 20:49:04

Trump’s plan to cut the corporate tax rate to 15% would give the 100 largest corporations a tax cut larger than the entire US Department of Education K-12 budget.
Really think about how twisted that is.

2024-07-29 19:19:05

Reminder: When you invest in the American people, the middle class expands, and the economy grows.
When you cut taxes on the rich, the rich get richer, and the gains don’t trickle down.
It’s that simple.

2024-07-29 17:47:05

75% of voters support a binding ethics code for the Supreme Court.
They're tired of justices receiving millions of dollars in gifts from political donors who have cases before the court.
So why did Senate Republicans block a SCOTUS ethics bill last month?
Hello?

2024-07-29 16:24:32

Iowa's abortion ban will take effect beginning today.
The state now bans most abortions after about six weeks, before many Iowans would even know they’re pregnant.
Remember that Donald Trump said states banning abortion was "a beautiful thing to watch."

2024-07-29 00:03:02

Under the tax plan proposed in Project 2025, it's estimated that a family of 4 making $100,000/year would get a $2,600 tax hike. But a family of 4 making $5 million/year would get a $325,000 tax cut.
It's a trickle-down nightmare.

2024-07-28 22:03:02

Project 2025 would change the 40hr workweek to a 160hr work-month, so your boss could make you work extra hours with no overtime pay by cutting your hours later in the month. See page 592.

2024-07-28 20:03:34

Billionaires aren’t just supporting Trump for the tax cuts.
As Peter Thiel once admitted: “I no longer believe that freedom and democracy are compatible.”
Make no mistake: The goal of American oligarchy is to tear down democracy itself.

2024-07-28 18:02:04

Trump may be one of the most anti-worker presidents of all time.
-Loaded the NLRB with anti-union hacks
-Cut OT pay for 8 million workers
-Gutted workplace safety rules
-Made it harder for gig workers to get benefits
Don't buy the MAGA rebrand. Actions speak louder than words.

2024-07-28 08:04:35

Sunday caption contest: The choice https://robertreich.substack.com/p/sunday-caption-contest-the-choice-e8b?utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/863/076/356/831/478/original/51ba3c9133de2c32.jpeg

2024-07-28 00:33:04

Trump’s tax law cut the corporate tax rate from 35% to 21%.
What did corporations do with the money saved?
They didn’t invest it or raise wages.
They spent a record $1 trillion on stock buybacks the year after the law went into effect.
Nothing trickled down to workers.

2024-07-27 21:02:04

Reminder that J.D. Vance is another phony GOP "populist."
He worked in private equity and benefited from tax loopholes designed for the wealthy elite.
He won his Senate seat thanks largely to his billionaire benefactor Peter Thiel, who spent $15 million on his campaign.
Hello?

2024-07-27 19:05:03

Chipotle raised prices six times since 2021 and kept them high — even as costs have flattened.
The result?
Profits jumped 110%. It authorized $400M in stock buybacks. Its CEO was paid $22.4M in 2023...1,354 times the median Chipotle employee.
What's really driving inflation?

2024-07-26 23:32:02

"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." –Justice Louis Brandeis
Words spoken many years ago that are just as relevant today.
We must continue the fight to get big money out of politics.

2024-07-26 18:02:03

How do we know that Lina Khan has done an excellent job as FTC chair?
Because billionaires and business leaders want her gone.
She's been an avid anti-trust enforcer and defender of working people.
She's also been an oligarch's worst nightmare.

2024-07-26 15:03:02

The Biden-Harris FTC is on a roll.
It's suing corporations for abusing their power.
It banned noncompetes.
Now it's investigating "surveillance pricing" tactics where companies use personal data to set different prices for everyone.
This is government working for the people.

2024-07-26 01:18:04

Tax cuts under Trump’s planned 15% corporate tax rate:
Microsoft: $4 billion
Google: $3.5 billion
Apple: $2.7 billion
JPMorgan Chase: $2.6 billion
Amazon: $2.5 billion
Berkshire Hathaway: $2 billion
It's yet another absolutely shameless corporate giveaway.

2024-07-25 21:47:02

There is no question about it: Alito, Thomas, Roberts, and the three Trump Supreme Court appointees are all GOP partisan hacks.
Pass term limits. Expand the court. Enact an enforceable code of ethics.
We must keep pushing Democrats to enact court reform. No more excuses.

2024-07-25 20:03:34

Voting is Brat https://www.youtube.com/watch?v=J4m1YAcQNXc&utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/848/916/568/059/033/original/b04d3320269adec3.jpeg

2024-07-25 19:32:32

Congressional Republicans introduced a bill to block the IRS free tax filing program.
They've also been trying to strip the IRS of its funding.
The GOP wants to make it harder (and more expensive) for you to do your taxes while making it easier for the rich to dodge theirs.

2024-07-25 18:02:33

President Biden’s actions over the past few days highlight Trump’s unfitness for office.
Biden put the needs — and the future — of his country ahead of himself.
Trump was willing to burn down our democracy to hold onto power and feed his fragile ego.

2024-07-25 14:57:32

Remember: The recipe for economic growth isn’t tax cuts for the rich. It’s investment in our people — in health care, infrastructure and education — to build a strong middle class.
You don't grow the economy through trickle-down nonsense.

2024-07-25 00:52:02

Make no mistake; the President of the United States calling for Supreme Court reform in an Oval Office address is a big deal.
It's time to unpack the court.

2024-07-24 23:18:31

Trump's plan to cut the corporate tax rate to 15% would give:
-The top 5 Wall Street banks a $4.1B tax cut.
-The top 5 drug makers a $3.1B tax cut
-The top 5 US oil companies a $2.5 billion tax cut.
In total, it's a $50B giveaway to the largest 100 US companies.
Atrocious.

2024-07-24 22:05:02

Federal minimum wage in:
2009: $7.25
2010: $7.25
2011: $7.25
2012: $7.25
2013: $7.25
2014: $7.25
2015: $7.25
2016: $7.25
2017: $7.25
2018: $7.25
2019: $7.25
2020: $7.25
2021: $7.25
2022: $7.25
2023: $7.25
2024: $7.25
Folks, it's time to raise the damn wage already.

2024-07-22 13:31:03

President Biden’s final act as a candidate highlights Trump’s unfitness for office.
Biden put the needs of his country ahead of himself.
Trump was willing to burn down our democracy to hold onto power and feed his fragile ego.

2024-07-21 20:18:32

Trump is now the oldest POTUS candidate ever nominated by a major party.
He has repeatedly confused Biden with Obama and Nikki Haley with Nancy Pelosi. He fell asleep at his criminal trial.
Will the media scrutinize his age & mental decline with the fervor it focused on Biden?

2024-07-21 18:41:04

Thank you, Biden; Hello, Kamala! https://www.youtube.com/watch?v=0CU5x_E6p4I&utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/825/942/949/618/723/original/b937407bca23b21b.jpeg

2024-07-20 19:33:34

Trump's now pretending to take the side of tipped workers, but his Labor Department changed a rule to make it easier for bosses to pocket workers' tips.
This cost tipped workers an estimated $700 million a year in wages.

2024-07-20 17:04:04

At least 63 billionaires have now publicly endorsed Trump, hosted a fundraiser for him, or contributed to Trump aligned PACs.
Why are they rallying behind him? Tax cuts, mostly. But there's more.
The more Trump tears down democracy, the safer the oligarchy becomes.
Be warned.

2024-07-19 20:37:40

How Is a Convicted Felon and Insurrectionist a Leading Candidate for President? | The Coffee Klatch https://www.youtube.com/watch?v=tpx20-twWE0&utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/815/076/602/174/536/original/66459fade5071e4e.jpeg

2024-07-19 20:06:03

Just to be clear, Trump picked J.D. Vance to be his vice president because Vance has publicly said he’d do what Mike Pence refused to do — overturn democracy to place America under MAGA control.

2024-07-19 19:03:02

Trying to do “both sides” reporting on Trump is journalistic malpractice.
This is a man vowing to build vast internment camps while calling his opponents “vermin” that he will "root out."
The media has a responsibility to clearly and urgently convey the dangers of a Trump win.

2024-07-19 17:03:33

Donald Trump last night: “I’m going to protect Social Security and Medicare."
Donald Trump while president: Included Social Security and Medicare cuts in every budget proposal he put forward.

2024-07-19 15:51:03

The Biden-Harris admin has forgiven nearly $170B of student debt. That's good for everyone — not just debt holders.
People without onerous debt contribute more to the economy, are more likely to start a business, buy a home, or start a family, and less likely to need public aid.

2024-07-19 04:21:03

Don't buy this "Trump has adopted a softer tone" nonsense. This convention has been all about demonizing immigrants, denigrating LGBTQ+ people, and declaring political opponents to be enemies of the state. There is nothing "moderate" about any of it.

2024-07-18 21:03:32

Trump wants to extend his tax cuts for the rich, which would add $4.6T to the deficit.
But he wants to go even further, cutting the corporate tax rate to 15%.
This would result in the 100 biggest corporations receiving a giveaway of $48B annually.
It's clear who he works for.

2024-07-18 18:50:03

J.D. Vance is yet another phony GOP "populist."
He worked in private equity and benefited from tax loopholes designed for the ultra-wealthy elite.
He won his Senate seat thanks largely to his billionaire benefactor Peter Thiel, who spent $15 million on his campaign.
Hello?

2024-07-18 16:35:04

Remember: Almost all of us are the descendants of immigrants who fled persecution, or were brought to America under duress, or sought better lives for themselves and their descendants.
MAGA Republicans want to stoke so much fear and hatred that people forget this.
Do not.

2024-07-18 08:06:05

Trumpism's next generation https://robertreich.substack.com/p/the-future-of-trumpworld?utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/806/459/163/966/873/original/e493b33df71f6515.jpeg

2024-07-17 23:38:03

2024-07-15 19:55:12

J.D. Vance is Unqualified https://robertreich.substack.com/p/jd-vance-is-unqualified?utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/792/260/498/833/956/original/b1f98d9041b1bb77.jpeg

2024-07-15 08:06:05

How are you coping? https://robertreich.substack.com/p/how-are-you-coping?utm_source=dlvr.it&utm_medium=mastodon
https://s3.masto.ai/media_attachments/files/112/789/472/181/182/181/original/345c33f2ee21a93a.jpeg

2024-07-06 17:34:04

2024-06-30 20:04:04

The number one thing we should still be discussing from the debate is that Trump refused to rule out another January 6 attack.

2024-06-21 14:32:02

One of the richest men in the 1920s was Andrew Mellon — an early prophet of trickle-down economics.
Yesterday we learned that his grandson, Timothy Mellon, gave a Trump super PAC one of the largest political donations ever.
This is how dynastic wealth works.
Wealth tax now.

2024-06-20 22:03:34

Billionaire Harlan Crow has spent over $13 million on federal politics since the 2010 Citizens United ruling.
That’s on top of the years he spent secretly dolling out free vacations to Clarence Thomas.
Money in politics is the root of our dysfunction.

2024-06-20 19:42:33

25 corporations pretending to honor Pride month have donated $18 million to anti-LGBTQ+ politicians since November 2022.
Ignore the marketing and follow the money.

2024-06-20 16:25:34

By withholding a ruling on Trump v. United States, the Supreme Court's far-right justices are effectively giving Trump the immunity he's seeking, making it all but impossible for him to face trial before the election for his efforts to overturn the election and his role in Jan 6.

2024-06-20 15:43:02

I can't believe I even have to say this, but it is not normal that the Supreme Court is taking its sweet time to decide if a former president is immune from prosecution for inciting an insurrection to overturn an election. This should have been decided already. The answer is no!

2024-06-20 00:02:02

Louisiana's GOP governor signed a law requiring public school classrooms to display the Ten Commandments.
Project 2025, developed by MAGA allies, has plans to infuse ‘Christian nationalism’ in a Trump second term.
Republicans are coming for the separation of church and state.

2024-06-19 17:13:33

The DOT regulated junk fees. Airlines are suing.
The CFPB capped credit card fees. Banks are suing.
Medicare is negotiating drug prices. Pharma is suing.
The FTC banned noncompetes. Business groups are suing.
Corporate America can't stand government working for the people.

2024-06-19 15:48:04

Stock buybacks don't just line the pockets of CEOs and shareholders — they're dangerous.
Boeing failed to implement a $7B redesign of its 737 Max while spending that much per year on buybacks.
A dollar spent on buybacks is a dollar less spent to upgrade equipment and safety.

2024-06-18 22:08:02

Why are we talking about whether paying fast food workers a better wage will drive up the cost of a Big Mac instead of asking how much McDonald's CEO's $19.2 million salary is driving up the cost? Hello?

2024-06-18 19:06:33

The Biden FTC is on a roll.
It banned noncompete clauses.
It blocked the Kroger/Albertsons merger that would send grocery bills skyrocketing.
Now it's taking action against Adobe for allegedly trapping users in pricey subscriptions.
This is government working for the people.

2024-06-18 17:42:03

Boeing shareholders approved a $33M pay package for CEO Dave Calhoun, despite the company's major safety problems — which Calhoun is testifying about before the Senate today.
Calhoun is resigning by year's end. Guess what he gets then?
A $45 million golden parachute.
Unreal.

2024-06-18 16:02:04

260 million Americans will experience temps above 90F this week.
Now's a good time to remind you that Trump's inner circle devised a 900+ page plan that includes gutting the EPA, halting clean energy projects, and burning more fossil fuels.
It's called Project 2025. Look it up.

2024-06-17 18:11:03

Prior to 1982, the SEC considered stock buybacks to be illegal stock manipulation. But under President Reagan, stock buybacks were made legal. Now, instead of investing profits into people, big corporations use them to line the pockets of wealthy shareholders. They're a scam.

2024-06-17 14:26:03

A wildfire burns outside Los Angeles.
New England will face heat as high as 107° this week.
Florida neighborhoods are under water.
Meanwhile, Trump has called the climate crisis a "hoax" and has promised to roll back Biden's clean energy investments and "drill, baby, drill."

2024-06-16 21:32:03

Your periodic reminder that Medicare For All would save $450 billion in health care costs and 68,000 lives per year.

2024-06-16 20:06:03

Typical pay for the 100 highest paid CEOs was over $29M last year.
Much of the compensation was tied to stock gains.
Just so happens that corporations spent ~$800 BILLION on stock buybacks, which artificially boost share prices.
Translation: CEOs are goosing their own pay.

2024-06-16 15:37:32

"If Ivanka weren't my daughter, perhaps I'd be dating her." -Donald J. Trump, 3/6/'06
Happy Fathers Day to all the dads NOT contemplating dating their daughters.

2024-06-15 22:05:03

Senate Republicans blocked legislation establishing a binding code of ethics and stricter recusal requirements for Supreme Court justices.
A day later we learned that Clarence Thomas received even more free vacations from GOP megadonor Harlan Crow.
You can't make this stuff up.

2024-06-15 17:41:33

John Deere has laid off roughly 1000 workers so far this year.
But the company reported a profit of over $10 billion in 2023.
Its CEO received $26.7 million in total compensation.
And it spent over $7 billion on stock buybacks.
Textbook corporate greed.

2024-06-15 15:07:04

50 billionaire families have already poured $600M+ into this year's elections — mostly in support of Trump.
That's only 0.6% of their total wealth. It essentially costs them nothing to drown our democracy in dark money.

2024-06-14 22:14:02

Cost of extending the expiring Trump tax cuts: $4.6 trillion.
Cost of proposed additional corporate tax breaks: $1 trillion
This is why Trump and the GOP are obsessed with cutting Social Security and Medicare.
So they can justify another round of giveaways to corporate donors.

2024-06-14 19:25:02

In the years after Trump's tax cuts, S&P 500 corporations spent $2.72 trillion on stock buybacks to enrich wealthy shareholders. That's more than what they spent on investments in plants and technology to boost production and create jobs. So much for trickling down, huh?

2024-06-14 15:09:02

The Supreme Court just overturned a federal ban on bump stocks, the device that let the Las Vegas shooter injure more than 500 people and kill 60 within minutes.
80% of Americans supported the ban — even Trump!
SCOTUS has once again defied the will of the people.

2024-06-13 19:56:32

All nine Republican senators running for reelection this year just voted against the Right to IVF Act:
John Barrasso
Marsha Blackburn
Kevin Cramer
Ted Cruz
Deb Fischer
Josh Hawley
Pete Ricketts
Rick Scott
Roger Wicker
So much for the party of "freedom."

2024-06-13 17:06:03

75% of voters support a binding ethics code for the Supreme Court.
They're tired of justices receiving millions of dollars in gifts from political donors, some of whom have cases before the court.
So why did Senate Republicans block a SCOTUS ethics bill yesterday?
Hello?

2024-06-13 14:58:04

The Supreme Court dismissing challenges to the FDA's approval of mifepristone is good news, but the fight's not over.
A MAGA-controlled FDA could effectively ban all abortion medications without even involving the courts or Congress.
Abortion access is on the ballot this fall.