In a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, Peter Temin, professor emeritus of economics at MIT, draws a portrait of the new reality in a way that is frighteningly, indelibly clear: America is not one country anymore. It is becoming two, each with vastly different resources, expectations and fates.
“It’s weaker than it could have been,” Ron Hira, a political scientist at Howard University and longtime H-1B critic, told me. “Some things can be done through policy guidance, policy memos and regulation writing.” On the other hand, Hira was pleased that Trump at least acknowledged the problem, something his predecessors had not done.
Obama wasn’t importing anybody. But otherwise King was right. Naturalized immigrants, or their natural-born children, would likely over time vote Democratic. A raw political power move, maybe. This was astute political analysis underneath a layer of racism.
British Prime Minister Theresa May announced Tuesday she will seek an early election on June 8. Three weeks after officially launching the process for Britain to exit the European Union, May said opposition parties are threatening to derail the process and that parliament is not coming together in the same way as the nation.
Tax policies “lack a certain sexiness as a cause,” one of the march’s national organizers, Maura Quint, concedes. But she and others on the executive committee are hoping that the progressive anger over Trump and his lack of transparency can help launch the discussion about tax fairness and economic justice, issues that are implicit in the debate over how to structure the U.S. tax code.
It turns out that being “a paragon of big-banker virtue” is not at all the same as being a virtuous human being. Banker elites don’t get paid the big bucks by “doing what’s right,” but by doing what’s most profitable — and that means cutting corners on ethics, common decency and the golden rule.
But where was Steve Bannon — Marty Bannon’s big shot son, a former Goldman Sachs banker and now political adviser to Donald Trump — when he unloaded his life savings at the bottom of the market? Apparently not calling home and saying, “Dad, don’t sell your stock now.” Instead, the younger Bannon exploited his father’s financial trauma to sell his doctrine of economic nationalism — a mishmash of emotions that blames everyone but oneself.
Since almost immediately after his inauguration as 45th president of the United States, Donald Trump has been claiming credit for what he sees as a miraculous recovery in the nation’s economy. But how much credit is actually due to his administration?
When the AFL-CIO and other critics of right-to-work laws describe them as “right-to-work-for-less” laws, they aren’t merely being rhetorical; research demonstrates that right-to-work promotes inferior working conditions.
In his new book, Antony Loewenstein analyzes not only how natural disasters and war can be vehicles for capitalist policies, but how corporations push their neoliberal agenda and rake in enormous sums of cash, from immigration, refugee detention, prisons, and discoveries of natural resource reserve
You’ll see plenty of headlines about how earnings have “accelerated,” but that’s only if you’re a hawk, a nitpicker-in-extremis, or you earn so much money that money is an abstraction.
It is frightening to see Trump unleash ICE on powerless immigrants, but bend over backward to placate financial elites. A bully attacks the weak and cowers before the powerful.
The fancy joint session address to Congress is not a place you can lead chants like, “Lock her up.” Best to avoid the word “carnage” if possible. If you’re the American president, please act like one. For the first time in a long life, Trump tried to do that. Fake gravitas does not become him, but his slick performance fooled half the people.
President Obama left his successor a strong foundation on which to build real economic prosperity. If Donald Trump pursues policies that weaken it, he could end up putting the whole structure – and people’s economic security – at risk.
This is the old ‘guns vs. butter’ scenario taught to young students in elementary economics classes. If economics is a matter of choices over scare resources, and if budgets are a way to project your values, then Trump has made his views clear – guns matter more than butter.
The Trump administration is now in its second month, and it’s done almost nothing. It hasn’t even put forth coherent plans to do what the president says he wants to do. Complicating matters further, it remains unclear what the president wants, and he may not even know.
Donald Trump’s address to Congress on Tuesday was a bold attempt to push forward his trademark nationalist agenda—protectionism, restrictions on immigration, a military buildup—but it was also notable for the ways in which he tried to protect himself from charges of racism and xenophobia.
Commentators have cast Trump’s populist appeal as “Jacksonian.” However, these comparisons overlook experiences of marginalized people while defining history in terms of the ideologies of progress and American exceptionalism.
Trump’s spending blueprint previewed a major address that he will give Tuesday night to a joint session of Congress, laying out his vision for what he called a “public safety and national security budget” with a nearly 10 percent increase in defense spending.
While it has become a popular notion in the West that immigrants jeopardize the job prospects of natives, over 30 years of economic research give strong reason to believe otherwise. And in fact, the opposite may be more likely: There’s evidence immigrants actually promote economic growth.
Here is the GOP scam in a nutshell: Tax cuts for truly wealthy people increase their income and wealth; tax cuts for working people actually decrease their income and wealth over time. Get ready for voters who have no idea how this all works to get totally behind the GOP “we’ll cut your taxes” rhetoric, not realizing that Paul Ryan, Mitch McConnell, and Donald Trump/Mike Pence view us all as merely useful idiots.
Andrew Puzder’s replacement, Alexander Acosta, hails from an immigrant background (his parents came from Cuba), and he is a former U.S. attorney. But there is no reason to expect him to have any great compassion or concern for the little guy. Trump’s white working-class supporters are in for nothing but disappointment.
President Donald Trump swore in former Goldman Sachs banker and Hollywood financier, Steven Mnuchin, as Treasury secretary on Monday, putting him to work on tax reform, financial de-regulation, and economic diplomacy efforts. At a White House swearing-in ceremony, Trump said Mnuchin would be a “great champion” for U.S. citizens.
Following an election that was, in large part, an expression of Americans’ deep unhappiness with the economy, President Donald Trump’s promise to bring back job growth and a booming stock market appear to be somewhat at odds with the policies he’s putting in place during the first 20 days of his presidency.
Combining public bluster with behind-the-scenes diplomacy, China wrested a concession from the United States as the two presidents spoke for the first time this week, but Beijing may not be able to derive much comfort from the win on U.S. policy toward Taiwan. In getting Trump to change course on the “one China” policy, Beijing may have overplayed its hand.