TCatInReality

rbreich , 9 days ago to Random

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.

rbreich , 11 days ago to Random

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.

rbreich , 12 days ago to Random

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.

rbreich , 13 days ago to Random

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.

rbreich , 17 days ago to Random

Banning medical debt from credit reports.

Cracking down on junk fees.

Banning non-competes.

Capping credit card fees.

Negotiating drug prices.

Expanding OT pay.

These Biden policies don't make headlines, but this is what it looks like when government works for the people.

rbreich , 28 days ago to Random

Sunday caption contest: The Jury https://robertreich.substack.com/p/sunday-caption-contest-the-falls?utm_source=dlvr.it&utm_medium=mastodon

georgetakei , 1 month ago to Random

With Trump slurring his words again at his speech in the Bronx last week, and more unhinged rants on Truth Social over Memorial Day after standing there cluelessly saluting during “Amazing Grace,” it feels more essential than ever that we get the word out about the danger that Trump’s mental decline poses. https://thinkbigpicture.substack.com/p/john-gartner-trump-cognitive-decline

rbreich , 1 month ago to Random

Nepo baby billionaire Timothy Mellon has given at least $25 million to elect RFK Jr.

He has also given at least $25 million to elect Trump.

The two campaigns are the same campaign — with the same donors and the same ultimate goal of putting Trump back in the White House.

rbreich , 1 month ago to Random

In 2023, @UAW stood up to the Big Three automakers and won big pay bumps.

Now it's launching organizing campaigns at more than a dozen non-union automakers.

VW workers in Tennessee unionized in April. Mercedes workers in Alabama vote on a union next week.

This is a huge deal.

rbreich , 1 month ago to Random

The FTC alleges that a major US oil exec colluded with OPEC to cut production and drive up prices.

Research found that Big Oil price fixing may have contributed to 27% of total inflation in 2021.

When I say corporate greed is driving inflation, this is what I mean.

rbreich , 1 month ago to Random

Trump set the overtime pay threshold at a disgraceful $35,500 per year. Biden just raised it to $58,600.

Biden banned noncompete agreements. A plaintiff trying to reverse the ban is a Trump tax adviser.

Biden is fighting for workers. Trump wants to tear them down.

rbreich , 2 months ago to Random

The top 10% of richest Americans own 87% of stocks.

The top 1% alone own roughly half of all stocks.

It's worth pointing out once again that the stock market is not the economy.

rbreich , 2 months ago to Random

Don’t call it the “hush money” case https://robertreich.substack.com/p/dont-call-it-the-hush-money-case?utm_source=dlvr.it&utm_medium=mastodon

georgetakei , 5 months ago to Random

Can’t stop progress.