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Sunday, December 4, 2016

Steve Mnuchin: Evictor, Forecloser, And Our New Treasury Secretary

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Reprinted with permission from The American Prospect.

Throughout his presidential campaign, Donald Trump criticized Wall Street bankers for their excessive political influence and attacked hedge-fund managers for getting away with “murder” under the current tax code. “The hedge-fund guys didn’t build this country,” Trump said on Face the Nation. “These are guys that shift paper around and they get lucky.”

Now, however, Trump has tapped Steve Mnuchin, a 53-year-old Wall Street hedge-fund and banking mogul—and, since May, his campaign-finance chair—to be the nation’s secretary of the Treasury.

Trump’s earlier rhetoric aside, it’s actually a good match. Both Trump and Mnuchin earned their first fortunes the old fashion way: They inherited them.



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If Trump Imitates GOP Presidents, His Jobs Promise Will Fail

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Within a day after Donald Trump’s triumphal visit to Indiana, where he claimed credit for “saving” 800 jobs at a Carrier factory, the Department of Labor released its first monthly unemployment report since his election victory — and one of the last that will come out during the presidency of Barack Obama. Together those two events illustrated the contrast between a real strategy for economic growth and the dubious gambit of a Twitter addict.

During his presidential campaign, Trump repeatedly warned that if he became president, companies moving U.S. manufacturing plants abroad would suffer punitive tariffs of 35 or even 45 percent when they tried to sell their overseas products here.



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Sanders’ Social Democracy Versus Trump’s Authoritarian Doctrine

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Reprinted with permission from AlterNet

President-elect Trump scored a remarkable victory by saving 1,000 of the 2,100 jobs that Carrier and its parent company, United Technologies, were outsourcing to Mexico. During the campaign, Trump pledged to stop those jobs from leaving the country and he has come through (much credit should be given to the United Steelworkers for keeping this issue alive).

Trump used the plight of those workers, represented by the United Steelworkers, as a battering ram to pummel Hillary Clinton on trade and the loss of decent paying U.S. manufacturing jobs. Now, his partial success could lead to a mass exodus of working people from Democratic party.



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