Robert Reich: Trump stokes division with racism and rage - and the American oligarchy purrs [View all]

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Source: The Guardian

Trump stokes division with racism and rage – and the American oligarchy purrs

The president is the best thing that ever happened to the corporate elite, a distraction on the lines of the old Jim Crow

Robert Reich
Sun 14 Jun 2020 06.00 BST
Last modified on Sun 14 Jun 2020 06.21 BST

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Meanwhile, behind the scenes – in the halls of Congress and the corridors of statehouses, in fundraisers and in private candidate briefings, in strategy sessions with political operatives and public-relations specialists – the CEOs who condemn racism lobby for and get giant tax cuts and fight off a wealth tax.

As a result, the nation can’t afford anything as ambitious as a massive Marshall Plan to provide poor communities world-class schools, first-class healthcare and affordable housing.

The CEOs resist a living wage and universal basic income. They don’t want antitrust laws jeopardizing their market power, thereby requiring consumers pay more. They oppose tighter regulations against red-lining or prohibitions on payday lending, both of which disproportionately burden black and brown people.

Perhaps most revealingly, they remain silent in the face of Donald Trump’s bigotry. Indeed, many are quietly funding the re-election of a president whose political ascent began with a racist conspiracy theory and who continues to encourage white supremacists.

This goes beyond mere hypocrisy. Top CEOs have amassed more wealth and power than at any time since the “robber barons” of the late 19th century – enough to get legislative outcomes they want and organize the system for their own benefit.

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Read more: https://www.theguardian.com/commentisfree/2020/jun/14/donald-trump-racism-american-oligarchy