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Robert Reich: Coronavirus won’t respond to trickle-down economics

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- Commentary
CEOs of the major Wall Street banks have been summoned to the White House to discuss the coronavirus its economic fallout. I’m told Trump administration is considering more corporate tax cuts, tax cuts targeted to the airlines and hospitality industries, and a temporary payroll tax cut. 
The bank CEOs will approve of all these.

But they would be useless. They’d be too slow to stimulate the economy, and wouldn’t reach households and consumers who should be the real targets. And they’d reward the rich, who don’t spend much of their additional dollars, without getting money into the hands of the poor and middle-class, who do.

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In short, our imminent coronavirus and economic crises won’t respond to trickle-down economics.

Instead, Congress must immediately enact an emergency $400 billion.

The money should be used for

1. Coronavirus testing and treatment.

2. Paid sick leave and family leave this year, renewable for next year if necessary.

3. Extended Medicaid and unemployment insurance.

4. Immediate one-time payments of $1000 to every adult and $500 per child, renewable for next year if necessary.

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I don’t think this is an over-reaction to what’s imminent. It will help us prevent a health and economic calamity.


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Trump criticized as ‘most cowardly tough guy’ for Twitterstorm while being rushed to protective underground bunker

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Twitter couldn't help but notice that President Donald Trump was talking tough while hiding in his underground bunker.

The New York Times reported Sunday that Trump was rushed to the underground bunker that has only been used during the Sept. 11, 2001 attacks when passenger planes were headed to Washington, D.C. Trump, by contrast, didn't experience a terrorist threat, a few hundred protesters surrounded the White House complex, which is blocked off by several fences and surrounded by Secret Service and police.

It was something that many noticed contrasted with former Vice President Joe Biden, who spent Sunday listening to the concerns from protesters on the streets of his hometown.

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Why white silence is deafening — and deadly

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Once again, a video was released: George Floyd. For eight minutes, life was squeezed out of him. We saw him beg for water, for his breath, for his life. We saw the indifference with which his pleas were met. The video depicted Derek Chauvin, a now-fired Minneapolis police officer charged with murder, kneeling on Mr. Floyd's neck as he lost consciousness. It is enraging and horrifying, yet common.

Most white people I know believe that black lives matter. They will tell you they voted for Obama twice. They cannot stand Donald Trump. They are enraged by police brutality. These are the white people I want to speak to: Your anger and sadness about the big things are meaningless if you choose to do nothing about the small things you have control over.

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2020 Election

‘Insanity outside the White House’: After Trump stokes tensions, fresh clashes between police and protesters

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As protests against police violence and the killing of George Floyd continued in cities across the U.S. on Saturday, a massive crowd gathered outside President Donald Trump's White House as demonstrators again turned their ire and demands for justice and healing towards the nation's most powerful elected official. After tensions built, clashes erupted between law enforcement and demonstrators.

Tensions flared near the White House. Not sure what triggered it, all I saw was a blast of pepper spray and a sudden sprint backward. There’s a lot more pressure on the police cordon and they’re pulling out gas masks. pic.twitter.com/X4uCQRzPkw

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