Economic Lessons From Professor Reich...

[Webster]

Robert Reich (@[email protected])

In case anyone needed a reminder, the Republican Party’s economic record is atrocious. All but four of the last 17 recessions over the past century have come under Republican presidents. The idea that the GOP is some force of economic strength is absurd.

mstdn.party

--In case anyone needed a reminder, the Republican Party’s economic record is atrocious. All but four of the last 17 recessions over the past century have come under Republican presidents.

The idea that the GOP is some force of economic strength is absurd.

 

[Webster]

Robert Reich (@[email protected])

Corporate profits surged to a record high of $2.1Tn in the 3rd quarter of this year, even as inflation continued to hurt consumers. Over the last 2 years, profits have ballooned more than an 80%, from ~$1.2Tn to more than $2Tn. Folks, this is what’s driving inflation.

mstdn.party

--Corporate profits surged to a record high of $2.1Tn in the 3rd quarter of this year, even as inflation continued to hurt consumers. Over the last 2 years, profits have ballooned more than an 80%, from ~$1.2Tn to more than $2Tn.

Folks, this is what’s driving inflation.

 

[Webster]

Robert Reich (@[email protected])

Elon Musk is running Twitter into the ground. Sam Bankman-Fried’s FTX was outed as a Ponzi scheme. Jeff Bezos is touting his philanthropy as Amazon lays off thousands. The billionaires will not save us. They're tearing society down — and we're all the collateral.

mstdn.party

--Elon Musk is running Twitter into the ground.
Sam Bankman-Fried’s FTX was outed as a Ponzi scheme.
Jeff Bezos is touting his philanthropy as Amazon lays off thousands.

The billionaires will not save us. They're tearing society down — and we're all the collateral.

 

[Webster]

Robert Reich (@[email protected])

Periodic reminder: free snacks, beer kegs, and ping pong tables are not real perks. Do you know what is? Being part of a union that will defend you.

mstdn.party

--Periodic reminder: free snacks, beer kegs, and ping pong tables are not real perks.

Do you know what is?

Being part of a union that will defend you.

 

[Webster]

Robert Reich (@[email protected])

If this year taught us anything, it's that: 1) Workers keep America going, not billionaires. 2) Corporate profits don't trickle down to workers. 3) Poverty is a policy choice. 4) Health care is a human right. 5) Strikes work. I hope we act on these lessons in the new year.

mstdn.party

--If this year taught us anything, it's that:


1) Workers keep America going, not billionaires.
2) Corporate profits don't trickle down to workers.
3) Poverty is a policy choice.
4) Health care is a human right.
5) Strikes work.

 

[Webster]

Robert Reich (@[email protected])

The fact that gutting the Office of Congressional Ethics and threatening Social Security and Medicare are among the first items on the House GOP’s agenda tells you everything you need to know about the party’s priorities.

mstdn.party

--The fact that gutting the Office of Congressional Ethics and threatening Social Security and Medicare are among the first items on the House GOP’s agenda tells you everything you need to know about the party’s priorities.

 

[Nebulous]

Strikes work.

 

[Dee]

Robert Reich (@[email protected])

Corporate profits surged to a record high of $2.1Tn in the 3rd quarter of this year, even as inflation continued to hurt consumers. Over the last 2 years, profits have ballooned more than an 80%, from ~$1.2Tn to more than $2Tn. Folks, this is what’s driving inflation.

mstdn.party

--Corporate profits surged to a record high of $2.1Tn in the 3rd quarter of this year, even as inflation continued to hurt consumers. Over the last 2 years, profits have ballooned more than an 80%, from ~$1.2Tn to more than $2Tn.

Folks, this is what’s driving inflation.

Yup, exactly. And we don't get to see corporate profit results like we do jobs reports each month. Corporate profits are typically released quarterly as opposed to every month and they use every loophole to dodge being honest. This is where inflation is coming from. Not the bullshit trumpeting that "wage increases" are causing this.

 

[Webster]

Robert Reich (@[email protected])

Moderna is planning to charge $130 for its COVID vaccine, but the vaccine only costs $2.85 to make. Meanwhile, over the last two years, the company made over $19 billion in profits off the vaccine. Folks, this is what corporate greed looks like.

mstdn.party

--Moderna is planning to charge $130 for its COVID vaccine, but the vaccine only costs $2.85 to make. Meanwhile, over the last two years, the company made over $19 billion in profits off the vaccine.

Folks, this is what corporate greed looks like.

 

[Webster]

Robert Reich (@[email protected])

By the way, a tax of up to 5% on the world’s multi-millionaires and billionaires could raise $1.7 trillion/year. That would be enough to lift 2 billion people out of poverty and fund a global plan to end hunger. We can't afford NOT to tax the rich.

mstdn.party

--By the way, a tax of up to 5% on the world’s multi-millionaires and billionaires could raise $1.7 trillion/year. That would be enough to lift 2 billion people out of poverty and fund a global plan to end hunger.

We can't afford NOT to tax the rich.