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Robert Reich: Trump Is Sabotaging the U.S. Economy

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Trump to global CEOs and financiers in Davos, Switzerland: “America is open for business.” We’re now a good place for you to make money. We’ve slashed taxes and regulations so you can make a gold here.  

Trump to desirous immature immigrants around the world, including those brought here as children: America is closed. We don’t wish you. Forget that poem merged to the Statue of Liberty about bringing us your bad emotional to breathe free. Don’t even try.

In Trump’s America, global collateral is welcome, people aren’t.


Well, we have news for the supposed businessman. America was built by desirous people from all over the world, not by global capital.

Global collateral wants just one thing: A high return on its investment.

Global collateral has no requirement to any country or community. If there’s another place around the universe where taxes are reduce and regulations laxer, global collateral will pierce there at the speed of an electronic blip.

Global collateral doesn’t caring how it gets a high return. If it can get it by slicing wages, outsourcing to agreement workers, polluting air and water, defrauding investors, or destroying communities, it will.

People are different. Once they’ve secure somewhere, they generally stay put. They rise webs of connectors and loyalties.

If they’re desirous – and, let’s face it, the one evil that almost all immigrants to America have shared for some-more than two centuries is ambition – they rise skills, teach their kids, and minister to their communities and their nation.

My good grandfather arrived in America from Ukraine. He was nineteen years old and penniless. What brought him here was his ambition. He built a business. He started a family.

Then he invited his brothers and sisters from Ukraine to join him. He put them up in his home and gave them some of his assets to start their own lives as Americans.

You may call it “chain migration,” Mr. Trump, but we used to call it “family reunification.” We believed it wasn’t just benevolent to concede members from abroad to join their desired ones here, but also good for the America. It done the republic stronger and some-more prosperous.

By the way, Mr. Trump, global collateral doesn’t create jobs. Jobs are combined when business wish some-more products and services. Nobody invests in a business unless they design consumers to buy what that business will produce. Those consumers embody immigrants.

Consumers are also workers. The some-more prolific they are and the better they’re paid, the some-more products and services they buy – formulating a just round of aloft salary and some-more jobs.

They turn some-more prolific and better paid when they have entrance to good schools and universities, good health care, and well-maintained travel systems joining them together.  

This multiple – people secure in families and communities, supplemented by desirous immature immigrants, all aided by good preparation and infrastructure – done America the mercantile powerhouse it is today.  

Along the way, regulations valid to be required guardrails. We stable the environment, prevented fraud, and tried to stop financial entities from gambling divided everyone’s savings, since we came to see that capitalism but such guardrails is a mudslide.

We didn’t accomplish what we’ve achieved by slicing taxes and slicing regulations so global investors could make some-more income in America, while preventing desirous immigrants from coming to the shores.

We lifted taxes – generally on big companies and abounding people – in sequence to financial good schools, open universities, and infrastructure. We regulated business. And we welcomed immigrants and reunited families.

Global collateral came the way not since we were a inexpensive place to do business but since we were fabulously prolific and innovative place to do business.  

Now Trump and his abounding backers wish to remove all this. No one should be surprised. When they demeanour at the economy they only see money. They’ve made lots of it.

But the genuine economy is people. America should be open to desirous people even if they’re mud poor, like my good grandfather. It should also be open to their relations, whose family members here will give them a start. 

It should deposit in people, as it once did.

America didn’t turn great by global collateral seeking aloft earnings but by people from all over universe seeking better lives. And global collateral won’t make it good again. 


Robert B. Reich has served in 3 inhabitant administrations, many recently as secretary of labor under President Bill Clinton. His latest book is “Saving Capitalism: For the Many, Not the Few.” His website is www.robertreich.org.


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