Tonight, Biden Must Vow to Go Even Further to Combat Corporate Greed

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Robert Reich, is the Chancellor's Professor of Public Policy at the University of California, Berkeley, and a senior fellow at the Blum Center for Developing Economies. He served as secretary of labor in the Clinton administration, for which Time magazine named him one of the 10 most effective cabinet secretaries of the twentieth century.

President Biden is addressing the country tonight in his State of the Union address. Here’s some free advice about what he should say about the economy — which is the issue most voters care most about.Instead of telling Americans the economy is great — which many won’t believe — he must tell them the truth: that most of the economic gains haven’t been felt by average working people because the gains have been going to the top.

You’ll make it illegal for hedge fund and private equity managers to buy up houses to drive up rents when average Americans can barely afford to keep a roof over their heads.You’ll stop big banks and credit card companies from adding junk fees and charging usurious interest payments approaching 30 percent.You’ll prevent monopolies like Amazon from hurting small businesses and firing their workers for unionizing.You’ll raise taxes on the rich and lower them on average working Americans.

 

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