An Offer For Robert Reich
source: http://1lovejoy.wordpress.com/2011/12/20/an-offer-for-robert-reich/
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Recently, former Secretary of Labor made some valid observations on President Obama’s speech in Kansas about economic equality. He said that he was encouraged and is willing to help the President bring a mandate in his second term. Mr. Reich, on his blog elaborates the key points which will help bring about economic equality:
- Tax Financial transactions
- Use tax revenue to create good schools and access to higher education
- Resurrect the Glass-Steagall Act
- Cap the size of Wall Street
- Require big banks that got bailed out to modify mortgages of Americans that owe more than their homes are worth.
These points are very insightful but overlook some facts: President Obama has tried to implement these ideas but has been obstructed by Congress- on both sides of the isles. Furthermore, I blame Mr. Reich and the Clinton Administration for putting the U.S. economy in this position.
- Tax Financial transactions
- Use tax revenue to create good schools and access to higher education
- Resurrect the Glass-Steagall Act
- Cap the size of Wall Street
- Require big banks that got bailed out to modify mortgages of Americans that owe more than their homes are worth.
These points are very insightful but overlook some facts: President Obama has tried to implement these ideas but has been obstructed by Congress- on both sides of the isles. Furthermore, I blame Mr. Reich and the Clinton Administration for putting the U.S. economy in this position.
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