Robert Reich

Robert Reich


Berkeley professor, former Secretary of Labor. Co-founder, @InequalityMedia & @imcivicaction. Substack: https://t.co/U9YAAOMZJo | Linktree: https://t.co/DhNs34ZfP0

1592786 followers  •  855 follow  •    •   http://masto.ai/@rbreich

The NRA buys off Congress. No action on guns. The oil industry buys off Congress. No action on climate. Insurance companies buy off Congress. No action on health care. Pharma buys off Congress. No action on drug prices. Money in politics is the root of our dysfunction.

ExxonMobil announced a record-smashing $56 billion in profits last year, up by over 140% from 2021. That amounts to $6.3 million in profit every hour — more than $100,000 every minute. We need a windfall profits tax. Now.

Socialism is a scare word they've hurled at every advance the people have made. Socialism is what they called public power, social security, deposit insurance, and independent labor organizations. Socialism is their name for anything that helps all people. —Harry Truman, 1952

Chevron recently announced a $75 billion stock buyback program. They’re not alone. Corporate America spent ~$1 trillion on buybacks last year. The same corporations telling us they have no choice but to raise prices are simultaneously spending huge sums enriching shareholders.

Happy Friday. Trickle-down economics is a cruel hoax. Cruel because it's used by the super-rich to avoid paying their fair share of taxes. A hoax because nothing has ever trickled down.

The world’s billionaires lost $1.9 trillion in 2022. Their collective net worth now sits at ~$11.9 trillion. Still think they can’t afford a wealth tax?

When Republicans are in power, they rack up giant deficits, mainly by cutting taxes on corporations and the wealthy. Then when Democrats take the reins, Republicans blame them for being big spenders. It’s always the same story.

By 2018, the 400 wealthiest American families paid a lower total tax rate – including federal, state and local taxes – than the bottom 50% of American households. Their overall tax rate that year was only 23%. It had been 70% in 1950. This is what oligarchy looks like.

The richest 1% took home nearly twice as much wealth as the rest of the world put together over the past two years. Folks, this is what oligarchy looks like.

The Fed raised interest rates again. That’s the eighth consecutive hike. They say even more are coming. This puts workers and consumers on the frontline of fighting inflation. But corporations largely responsible for driving up prices get away scot-free. It's outrageous.

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Forced birth in a country with: —No universal healthcare —No universal childcare —No paid family & medical leave —One of the highest rates of maternal mortality among rich nations This isn't about "life." It's about control.

Your reminder that tear gas is a chemical weapon banned in war.

Memo to the media: Please don't say inflation is at a 40-year high without also mentioning that corporate profits are at a 70-year high. Give the people the full picture.

Forced birth in a country that refuses to protect children from being murdered at school.

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.

Zuckerberg owns Facebook, Instagram, and WhatsApp. Jeff Bezos owns the Washington Post. Elon Musk owns Twitter. When multi-billionaires take control of our most vital platforms for communication, it’s not a win for free speech. It’s a win for oligarchy.

If Redditors rallying GameStop is unacceptable market manipulation, what would you call it when greedy Wall Street bankers gambled away our entire economy in 2008 and faced no consequences?

American taxpayers spend $107,575,000,000 more on police than public housing. Pass it on.

More peaceful protestors and journalists have been jailed in the past week than all the bankers who were jailed for fraud during the financial collapse.

If Elon Musk can afford to lose $200 billion in a single year, he can afford a wealth tax.

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