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      House Democrats are scared to tax billionaires – that’s a costly mistake | Robert Reich

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      OpinionUS taxationHouse Democrats are scared to tax billionaires – that’s a costly mistakeRobert ReichPolitical cowardice means those funding Joe Biden’s ambitious social policy plan want to leave the mega-rich unscathed Sun 19 Sep 2021 01.00 EDTLast modified on Sun 19 Sep 2021 05.30 EDTThis week, House Democrats released their proposed tax increases to fund Joe Biden’s $3.5tn social policy plan.‘Medium is the message’: AOC defends ‘tax the rich’ dress worn to Met GalaRead moreThe biggest surprise: they didn’t go after the huge accumulations of wealth at the top – representing the largest share of the economy in more than a century.You might have thought Democrats would be eager to tax America’s 660 billionaires whose fortunes have increased by $1.8bn since the start of the pandemic, an amount that could fund half of Biden’s plan and still leave the billionaires as rich as they were before the pandemic began.Elon Musk’s $138bn in pandemic gains, for example, could cover the cost of tuition for 5.5 million community college students and feed 29 million low-income public-school kids, while still leaving Musk $4bn richer than he was before Covid.But senior House Democrats decided to raise revenue the traditional way, taxing annual income rather than giant wealth. They aim to raise the highest income tax rate and apply a 3% surtax to incomes over $5m.The dirty little secret is the ultrarich don’t live off their paychecks.Jeff Bezos’s salary from Amazon was $81,840 last year, yet he rakes in some $149,353 every minute from the soaring value of his Amazon stocks, which is how he affords five mansions, including one in Washington DC which has 25 bathrooms.House Democrats won’t even close the gaping “stepped-up basis at death” loophole, which allows the heirs of the ultrarich to value their stocks, bonds, mansions and other assets at current market prices – avoiding capital gains taxes on the entire increase in value from when they were purchased.This loophole allows family dynasties to transfer ever larger amounts of wealth to future generations without it ever being taxed. Talk about an American aristocracy.Biden wanted to close this loophole but House Democrats balked.You might also have assumed Democrats would target America’s biggest corporations, awash in cash but paying a pittance in taxes. Thirty-nine of the S&P 500 or Fortune 500 paid no federal income tax at all from 2018 to 2020 while reporting a combined $122bn in profits to their shareholders.But remarkably, House Democrats have decided to set corporate tax rates below the level they were at when Barack Obama was in the White House. Democrats even kept scaled-back versions of infamous corporate loopholes such as private equity’s “carried interest”. And they retained special tax breaks for oil and gas companies.What’s going on? It’s not that Democrats lack the power. They’re in one of those rare trifectas when they hold the presidency and majorities, albeit small, in the House and Senate.It’s not the economics. Americans have been subject to decades of Republican “trickle-down” nonsense and know full well nothing trickles down. Billionaires hardly need to have their fortunes grow $100,000 a minute to be innovative. And as I’ve stressed, there’s more money at the top, relative to anywhere else, than at any time in the last century.Besides, Democrats need the revenue to finance their ambitious plan to invest in childcare, education, paid family leave, healthcare and the climate.So what’s holding them back?Put simply, Democrats are reluctant to tax the record-breaking wealth of the rich and big corporations because of … the wealth of the rich and big corporations.Many Democrats rely on that wealth to bankroll their campaigns. They also dread becoming targets of well-financed ad campaigns accusing them of voting for “job-killing” taxes.Republicans sold their souls to the moneyed interests long ago, but the timidity of House Democrats shows just how loudly big money speaks these days even in the party of Franklin D Roosevelt.US’s wealthiest 1% are failing to pay $160bn a year in taxes, report findsRead moreThat’s because there’s far less of it on the other side. Through the first half of 2021, business groups and corporations spent nearly $1.5bn on lobbying, compared to roughly $22m spent by labor unions and $81m by public interest groups, according to OpenSecrets.org.Progressive House Democrats will still have a say. Senate Democrats haven’t weighed in. But there’s reason for concern.The looming debate over taxes is really a debate over the allocation of wealth and power. As that allocation becomes ever more grotesquely imbalanced, this debate will loom ever larger over American politics.Behind it will be this simple but important question: Which party represents average working people and which shills for the rich? Democrats, take note.
      Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com
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      Republicans threaten our children’s freedom as well as their basic safety | Robert Reich

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      OpinionUS educationRepublicans threaten our children’s freedom as well as their basic safetyRobert ReichAttacks on mask mandates expose children to Covid. Attacks on the teaching of history expose them to dangerous ignorance Sun 29 Aug 2021 01.00 EDTLast modified on Sun 29 Aug 2021 01.01 EDTMy granddaughter will go to school next week. So may your child or grandchild. For many, it will be their first time back in classrooms in a year and a half.On Covid and climate we can achieve change – but we’re running out of time | Robert ReichRead moreWhat do we want for these young people? At least three things.First and most obviously, to learn the verbal, mathematical and other thinking tools they’ll need to successfully navigate the world.But that’s not all. We also want them to become responsible citizens. This means, among other things, becoming aware of the noble aspects of our history as well as the shameful aspects, so they grow into adults who can intelligently participate in our democracy.Yet some Republican lawmakers don’t want our children to have the whole picture.Over the last few months, some 26 states have curbed how teachers discuss America’s racist past. Some of these restrictions impose penalties on teachers and administrators who violate them, including the loss of licenses and fines. Many curbs take effect next week.These legislators prefer that our children learn only the sanitized, vanilla version of America, as if ignorance will make them better citizens.Why should learning the truth be a politically partisan issue?The third thing we want for our children and grandchildren heading back to school is even more basic. We want them to be safe.Yet even as the number of American children hospitalized with Covid-19 has hit a record high, some Republican lawmakers don’t want them to wear masks in school to protect themselves and others.The governors of Texas and Florida, where Covid is surging, have sought to prohibit school districts from requiring masks. Lawmakers in Kentucky, also experiencing a surge, have repudiated a statewide school mask mandate.Why should the simple precaution of wearing a mask be a politically partisan issue?Paradoxically, many of these same Republican lawmakers want people to have easy access to guns, even though school shootings have become tragically predictable.Between last March and the end of the school year in June – despite most elementary, middle and high schools being partially or entirely closed due to the pandemic – there were 14 school shootings, the highest total over that period since at least 1999.Since the massacre 22 years ago at Columbine high school near Denver, more than a quarter of a million children have been exposed to gun violence during school hours.How can lawmakers justify preventing children from masking up against Covid while allowing almost anyone to buy a gun?The answer to all of this, I think, is a warped sense of the meaning of freedom.These lawmakers – and many of the people they represent – equate “freedom” with being allowed to go without a mask and to own a gun, while also being ignorant of the shameful aspects of America.To them, personal freedom means taking no responsibility.While Delta spreads, Republicans deflect and resort to Trump demagoguery | Robert ReichRead moreYet this definition of freedom is precisely the opposite lesson our children and grandchildren need. To be truly free is to learn to be responsible for knowing the truth even if it’s sometimes painful, and responsible for the health and safety of others even if it’s sometimes inconvenient.The duty to help our children become responsible adults falls mainly on us as parents and grandparents. But our children also need schools that teach and practice the same lessons.America’s children shouldn’t be held hostage to a partisan political brawl. It’s time we focused solely on their learning and their safety.
      Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist
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      Our Own Worst Enemy review: a caustic diagnosis of America after Trump

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      BooksOur Own Worst Enemy review: a caustic diagnosis of America after TrumpTom Nichols quotes Abraham Lincoln – on how American democracy can only be brought down from within Lloyd GreenSun 22 Aug 2021 02.00 EDTLast modified on Sun 22 Aug 2021 02.01 EDTLiberal democracy is under attack from within. Institutional trust erodes. Fewer than one in six Americans believe democracy is working well, nearly half think democracy isn’t functioning properly, and 38% say democracy is simply doing meh. Atomization, bowling alone and nihilism have converged at the ballot box.The Reckoning by Mary L Trump review – how to heal America’s traumaRead moreRepublicans are hellbent on shoving the events of 6 January, when supporters of Donald Trump attacked the US Capitol, down a deep memory hole. GOP governors in Florida, Mississippi and Texas remain sanguine as Covid-19 dispatches children to intensive care. Seven months into his presidency, Joe Biden looks to some like Jimmy Carter redux, competence and judgment seriously doubted, allies strained and divided. FDR, he’s definitely not.Into this morass parachutes Tom Nichols, with a meditation on the state of American democracy. Nichols grew up in a working-class home in Massachusetts and is now a professor at the US Naval War College and the Harvard Extension School. He is also a Never Trump conservative.In his eighth book, Nichols is pessimistic. “Decades of constant complaint,” he writes, “regularly aired in the midst of continual improvements in living standards, have finally taken their toll.”The enemy, Nichols asserts, is “us”. Citizens of democracies, he writes, “must now live with the undeniable knowledge that they are capable of embracing illiberal movements and attacking their own liberties”.As if to prove his point, Chuck Grassley, the ranking Republican on the Senate judiciary committee, recently made light of Trump’s attempts to have the Department of Justice subvert the election result. Even with Trump out of office, Senator Lindsay Graham continues to play first golf buddy, Renfield to Trump’s Count Dracula. A majority of congressional Republicans voted against certifying the 2020 election.In 2016, Nichols urged conservatives to vote for Hillary Clinton because Trump was “too mentally unstable” – far from the “very stable genius” he would later claim to be.In Our Own Worst Enemy, Nichols quotes Abraham Lincoln on how threats to American democracy always come from within: “If destruction be our lot, we must ourselves be its author and finisher.” Nichols sees the internet and the “revolution in communications” as the means by which we reached this dark point.Public life has become ever more about dopamine hits, instant reaction and heightened animus. Our fellow citizens double as our enemies. Electronic proximity breeds contempt, not introspection. Social media and cable television provide a community for those who lack a three-dimensional version.Nichols looks to ancient Greece for a reminder that nothing lasts forever. Admiringly, he quotes Pericles, the Athenian general and orator – but observes that Pericles was not around when his city state collapsed. He died two years earlier, behind “the besieged walls of Athens – from a plague”.History can repeat itself.In September 2016, writing in the Claremont Journal of Books under the pseudonym Publius Decius Mus, Michael Anton declared the contest between Trump and Clinton the “Flight 93 Election”: a reference to the plane that came down in Pennsylvania on 9/11 when passengers attacked their hijackers. Clinton, he argued, simply had to be stopped. First principles of conservatism could therefore be jettisoned.“Charge the cockpit or you die,” Anton thundered. “You may die anyway … There are no guarantees.”What, he asked, must be done “against a tidal wave of dysfunction, immorality and corruption?” To Anton, for the right, respect for “democratic and constitutional niceties” was ultimately a sucker’s game. Culture was stacked against them.After a stint as a Rudy Giuliani speechwriter, and other stops along the way, Anton joined Trump’s national security council.Later this year the Claremont Institute will honor Ron DeSantis. At a press conference earlier this month, the Florida governor asked: “Would I rather have 5,000 [Covid-19] cases among 20-year-olds or 500 cases among seniors? I would rather have the younger.”A few weeks later, the Sunshine State is getting the worst of both worlds.Simple decency, it seems, is for losers. Amid the last presidential campaign, comparisons between the US and the Weimar Republic were rife. The January insurrection was seen as our “Reichstag fire”. The attackers came from the right.Nichols absorbs and abhors it all. Not surprisingly, he takes particular aim at the populist right, which he says has been the “main threat” to liberal democracy over the past two decades. That is subject to debate, which Nichols acknowledges. Regardless, he writes that the populist right “is a movement rooted in nostalgia and social revenge”.As if to make Nichols’ point, Lauren Boebert, the hard-right, QAnon-adjacent Republican congresswoman from Colorado, recently trashed Biden for having left America’s friends in Afghanistan in the lurch – after voting last month against granting 8,000 immigration visas to Afghans who assisted the US military.‘We dodged a mortar round’: George Packer on America in crisisRead moreOther GOP diehards who opposed the legislation include Marjorie Taylor Greene, Mo Brooks and Paul Gosar. Greene and Gosar were charter members of the de facto white nationalist America First caucus. After a bomb threat on the Capitol this week, Brooks tweeted: “I understand citizenry anger directed at dictatorial socialism and its threat to liberty, freedom and the very fabric of American society.”Considering what ails America, Nichols offers limited prescriptions. He supports bridging the gap between civilian and military life. The progeny of the coastal elites opt for Ivy League colleges over the service academies, reinstatement of the draft isn’t likely and notions of national service all too frequently amount to “little more” than a paid internship, he writes.Concurrently, rightwing “Spartanism” breeds the unsustainable notion that “‘citizens’ and ‘soldiers’ are not the same people”.Nichols urges America’s youth to spend a summer in uniform, exposed to military life and skills. Most won’t join the army, he thinks, but will come away with a better knowledge of the soldier’s life. Right now, he laments, “there is no longer any common experience related to national defense”.Indeed. America has become one nation separated by a common language.
      Our Own Worst Enemy is published in the US by Oxford University Press
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      Reign of Terror review: from 9/11 to Trump by way of Snowden and Iraq

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      BooksReign of Terror review: from 9/11 to Trump by way of Snowden and IraqSpencer Ackerman, once of the Guardian, displays a masterful command of the facts but sometimes lets his prejudice show Lloyd GreenSun 8 Aug 2021 02.00 EDTLast modified on Sun 8 Aug 2021 02.01 EDTThis 11 September will be the 20th anniversary of the attacks on the World Trade Center and the Pentagon and the crash of Flight 93. Two wars have left 6,700 Americans dead and more than 53,000 wounded. After the Trump presidency, America roils in a cold civil war. In Afghanistan, the Taliban is on the move again. Saddam Hussein is dead and gone but Iraq remains “not free”.‘A madman with millions of followers’: what the new Trump books tell usRead moreIn other words, the war on terror has produced little for the US to brag about. In an April Pew poll, two-thirds of respondents rated international terror as a “big” problem, albeit one that trailed healthcare, Covid, unemployment and 10 more.Against this bleak backdrop, Spencer Ackerman delivers his first book under the subtitle “How the 9/11 Era Destabilized America and Produced Trump”. It is part-chronicle, part-polemic. The author’s anger is understandable, to a point.Ackerman displays a masterful command of facts. No surprise. In 2014, he was part of the Guardian team that won a Pulitzer for reporting on Edward Snowden’s leaks about the National Security Agency.Ackerman stuck with the topic. A contributing editor at the Daily Beast, he has also been its senior national security writer. Ackerman is fluent in discussing the so-called security state, and how it is a creature of both political parties.In the face of Snowden’s revelations, congressional leaders came out for the status quo. According to Harry Reid, then the Democratic Senate majority leader, senators who complained about being left in the dark about the NSA had only themselves to blame. All other Americans were to sit down and shut up.Nancy Pelosi, then House minority leader and a persistent critic of the Patriot Act, a chief vehicle for surveillance powers, declined to criticize Barack Obama or high-tech intrusion in general. Instead, she called for Snowden’s prosecution. He made Russia his home.Ackerman notes that the American Civil Liberties Union and Rand Paul, Kentucky’s junior senator, were notable exceptions to the rule. At the time, Paul remarked: “When you collect it from a billion phone calls a day, even if you say you’re going to keep the name private, the possibility for abuse is enormous.”Ackerman also shines a light on how the far right played an outsized role in domestic terrorism before and after 9/11, reminding us of Timothy McVeigh and the Oklahoma City bombing, teasing out McVeigh’s ties to other white nationalists.The attack on the US Capitol on 6 January this year is one more chapter in the story. Trump falsely claimed Antifa, leftwing radicals, were the real culprits. The roster of those under indictment reveals a very different story.In congressional testimony in April, Merrick Garland, the attorney general, and Alejandro Mayorkas, the homeland security secretary, described “racially or ethnically motivated violent extremists” as the greatest domestic threat. Garland also singled out “those who advocate for the superiority of the white race”.Chad Wolf, Trump’s acting homeland security chief, made a similar point last fall. Of course, his boss wasn’t listening.Ackerman delves meticulously into the blowback resulting from the war on terror. Unfortunately, he downplays how the grudges and enmities of the old country have been magnified by key social forces, immigration chief among them.Joe Biden, then vice-president, condemned the Boston Marathon bombers as “knock-off jihadists”. But Dzhokhar and Tamerlan Tsarnaev had received asylum. The immigrant population stands near a record high and the US fertility rate is in retrograde. On the right, that is a combustible combination. When Tucker Carlson is in Hungary, singing the praises of Viktor Orbán, the past is never too far away.In his effort to draw as straight a line as possible between the war on terror and the rise of Trump, Ackerman can overplay his hand. Racism, nativism and disdain for the other were not the sole drivers of Trump’s win, much as Islamophobia was not the sole cause of the Iraq war, a conflict Ackerman acknowledges he initially supported.Trump’s victory was also about an uneven economic recovery and, when it came to America’s wars, who did the fighting and dying. Overwhelmingly, it wasn’t the offspring of coastal elites. In 2016, there was a notable correlation between battlefield casualties and support for Trump.According to Douglas L Kriner of Boston University and Francis X Shen of the University of Minnesota, “Wisconsin, Pennsylvania and Michigan could very well have been winners for [Hillary] Clinton if their war casualties were lower.” Residents of red states are more than 20% more likely to join the military. Denizens of blue America punch way above their weight when it comes to going to college.Ackerman, a graduate of New York’s hyper-meritocratic Bronx High School of Science, bares his own class prejudices much in the way Clinton did at a notorious Wall Street fundraiser. Hillary dunked on the “Deplorables”. Ackerman goes after those he sees as socially undesirable.In his telling, Trump is “an amalgam of no less than four of the worst kinds of New Yorkers”. According to his taxonomy, those are “outer-borough whites”, wealth vampires, dignity-free media strivers and landlords.I Alone Can Fix It: Carol Leonnig and Philip Rucker on their Trump bestsellerRead moreThis year, many of those “outer-borough whites” voted for a Black candidate, Eric Adams, in the Democratic mayoral primary. Adams, Brooklyn’s borough president, is a former police captain.The real estate industry is a critical part of the city economy. Strivers have been here since the Dutch came onshore. As for “wealth vampires” – come on, really?The city’s economy reels. Murder is way up. Law and order matters. Ackerman’s disdain is misdirected.Nationally, the security state is not going to just disappear. But not all is gloom and doom. In a break with Obama and Trump, the Biden White House has pledged to no longer go gunning for reporters over leaks.The US is leaving Afghanistan. Unlike Trump, Biden was not dissuaded. And last Wednesday, the Senate foreign relations committee voted to end the 1991 and 2002 authorizations of use of military force in Iraq. Even the leviathan can budge.TopicsBooksSeptember 11 2001Donald TrumpTrump administrationUS politicsRepublicansDemocratsreviewsReuse this content More