Is Dynastic Wealth Destroying Democracy? | The Coffee Klatch with Robert Reich
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Published 2024-06-01
We were tempted to talk about the Trump trial and verdict, and bask in the relief that our system of justice did what it should do to hold people accountable for breaking the law — no matter who they are. But you’ve probably heard everything there is to say about the trial by now.
So we decided instead to do a deep dive into Trump politics and big money.
It’s been reported that just 50 billionaire families have already contributed a whopping $600 million to the 2024 elections. Over two-thirds went to Trump, Trump-affiliated groups, and other Republican candidates.
Heather and I thought it a good day to focus on dynastic wealth in America — what it is, how large it is, whether it’s hurting our democracy, and what to do about it.
Please pull up a chair, grab a cuppa, and, if you’re so moved, take our poll.
All Comments (21)
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Walmart employees needing government benefits? Corporate behavior unchecked.
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Mr. President, Please consider inviting Robert Reich to partner with you at the podium re: economics and how you are working to enforce anti-trust to help citizens survive the robber barons' price fixing. cc: Robert Reich
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Incredible that those who worked so many years for Social Security and Medicare benefits are enthusiastically willing to have them taken away by the wealthiest and Corporations.
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Let’s turn billionaires into millionaires.
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As a history teacher, I like to teach the history of the last 800 years as a power struggle among four basic groups: The monarchs, the religious leaders, the nobility, and the people (everyone else). When I ask my students in which of those groups they believe power in America is concentrated today, they tend to look confused. They know instinctively that "the people" don't have it. They know we don't have a monarch. Some start to say "religious leaders," but they kind of know that while religious leaders have a lot of influence, they're not the real shot callers. Most of them are a bit shocked to realize that America has a "nobility" that really has all the power. That nobility might be better at marketing themselves today than the 2nd Estate was in late 18th century France, for example, but it's the same bunch. An entitled class of snobs who believes that YOUR only purpose for existing is to work day and night to fuel THEIR lifestyle, ensuring they retain their "privileges of nobility." In a way, they're virtually no different from the old Lords and Ladies of feudal Europe, except the "fiefs" we serfs work for them have changed from farms to big box stores and restaurant chains, and instead of being loyal to a monarch, they install a president who works for THEM. They've never allowed democracy to exist in America, but they have done a lot to push the perception that we have it. And that's really how they won the power struggle, by convincing us that WE did.
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"Most men with nothing would rather protect the possibility of becoming rich rather that face the reality of being poor." This is what keeps MAGA going.
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Reagan SUCKED, Nixon SUCKED, this is what the school books should read.
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TAX THE RICH 🇺🇸 In the name of the People, by the People, for the People.
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In no way shape or form that CEOs work 300x harder than the average worker.
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The joke is… if wealth were more equitably distributed.. the economy would be exponentially more robust.
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I dont have an issue with people having wealth. The issue is the concerted effort to keep wealth in the top 1%. It is not enough for them to have insane luxury, they seem to need the rest of us in profound poverty.
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The economy should be measured by the wealth of the poorest Workers...
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I lasted 11 minutes before my anger exceeded my mental threshold. It is because these hosts are so pleasant that I was able to last that long. Great work guys. Let’s channel our anger into participation in taking back what is ours through political action.
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The more I learn about the every day person's side of history, the more I'm convinced that the US was always biased to the rich, land owners at the expense of the poor. The only difference now is that social media exists and it can be used to spread information and disinformation far easier than before.
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FDR warned that the country could not be only for the rich, or everyone would go down. When so many are near the poverty line and do not have $400 in case of emergencies, what does that tell us.
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Good Morning everyone who is here and loves to support Reich I am on a fixed income, so not enough money to go around for all the people I would like to donate to. Thank goodness you are still teaching the masses Robert!
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You are still teaching this stuff. Thank you Robert ❤
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Mr Reich - an American treasure. Thank you. And thank you Heather for your wonderful input. Both of you are great.
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Thank you Robert and Heather. These podcasts are one of the highlights of my week…so informative and firmly grounded in equality. So very much appreciated.
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Full credit to the USA for having the best democracy money can buy.
