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Billionaires eat the jobs of working people for breakfast so there's no real point in distinguishing between the "good" and the "bad" ones. Until workers of all kinds are united against our common enemy, there is little hope for the kind of society the working class envisions—and deserves.
The destruction of jobs, both public and private, creates billionaires. But most working people don’t know that, and the Democratic Party is afraid to say it.
Why? Because billionaires who have killed jobs of all kinds, dominate both political parties with their ill-gotten gains. Money buys silence.
The power of billionaires is rising as their numbers increase. In 1990, there were 66 billionaires in the United States. In 2023 there were 748. And in the U.S. alone, billionaire wealth in 2024 increased by $l.4 trillion, that’s $3.9 billion a day.
How did that happen?
It’s hard to wrap your mind around how much a billion dollars is. If you earned $1,000 per hour, it would take you 68.5 years to reach $1 billion, and at that point you’d have as much money as one thousand millionaires. That’s a lot of money, more than we can imagine, certainly more than any human being needs, ever.
To become a billionaire, you have to be willing to kill jobs with reckless abandon. It is one of the most effective ways to extract money from working people.
But they earned it, right? Isn’t earning billions of dollars a just reward for unparalleled entrepreneurial success? And isn’t criticizing that success sour grapes, the same as criticizing what makes our country so prosperous, free, and strong?
Maybe, until you look under the hood.
To become a billionaire, you have to be willing to kill jobs with reckless abandon. It is one of the most effective ways to extract money from working people.
The carnage started with the deregulation of Wall Street in the late 1970s, widened during the Reagan years, and was then adopted as the mantra of the Clinton administration during the 1990s.
The deregulation of Wall Street allowed companies to buy each other up with few constraints, often using borrowed money and putting the debt on the books of the acquired company. Layoffs are then used to pay off that debt.
Deregulation also led to the legalization of stock buybacks, which allowed companies to repurchase huge amounts of their own shares and drive the share price up. Wall Street investors and CEOs, who were increasingly paid with stock incentives, became fabulously rich as the price of their shares rose, though their company was no more profitable. Layoffs are then used to finance those buybacks.
Before deregulation, corporate leaders were ashamed if they had to lay off workers. They saw that as a sign of their own failure as managers. CEOs then thought themselves to be in the service of their employees, their communities, and their shareholders.
But free-market ideologues in the 1970s waged a successful campaign to favor shareholder supremacy above all—jobs, workers and communities be damned! (Please see Wall Street’s War on Workers, for the details)
Wall Street-driven job destruction happens in a flash. All it takes is a stock buyback, a merger, or a private equity purchase, and jobs will be cut overnight to pay for the deals.
That new cutthroat Wall Street mindset has led to approximately 18 million involuntary layoffs per year, year after year, since the 1990s.
But wait, you probably thought most job loss was caused by new technologies, like those that caused the disappearance of elevator operators and horse and buggy drivers?
Nope. Technological change, even AI, changes overall job composition slowly, over many years, even decades. Newness is expensive, so changes are adopted incrementally as costs come down.
But Wall Street-driven job destruction happens in a flash. All it takes is a stock buyback, a merger, or a private equity purchase, and jobs will be cut overnight to pay for the deals.
When labor unions represented more than 30 percent of private sector workers, from WWII to the 1960s, their wages and benefits improved year by year. So did the standard of living of public sector workers.
In New Jersey, for example, 40 years ago there were 60,000 high-paid auto workers with good pension plans. Public sector workers used them as a yardstick to increase their own compensation, as well. But today, those autoworker jobs are gone, which has put downward pressure on the wages and benefits of public sector workers.
Overall, in 1980, more than 50 percent of all private sector workers had pensions. Today, it’s only 11 percent. Meanwhile, 75 percent of state and local government employees, and nearly all federal workers, continue to have access to such plans. That’s why they are sitting ducks.
Divisive politicians can fire away by saying, “Why should private sector workers like you pay taxes to support public sector worker’s benefits that you don’t even have!”
There’s no way around it. The mass slaughter of jobs, whether public or private, grows billionaires.
That’s one reason why Trump and Musk have been getting away with trashing federal employees, with very little blowback from working people in the private sector, at least so far.
But there’s more.
Musk and his fellow billionaires need to cut federal government jobs so they can continue to stuff themselves at the federal trough. They want job cuts to pay for the hundreds of billions of taxpayer dollars that go to the largest US corporations via tax breaks, subsidies, and fat federal contracts. Last year alone, Fortune reports that Musk received $6.3 billion in federal and local taxpayer funding, and during the past four years the total was nearly $25 billion.
Privatization of public sector jobs also is a bonanza for wealthy investors. Just imagine the billions to be made by turning over the postal service to the private sector.
There’s no way around it. The mass slaughter of jobs, whether public or private, grows billionaires.
Imagine if federal worker unions and Democratic Party officials showed up at the plant gate of a company that was about to close its doors to finance hefty stock buybacks for its billionaire owners. A show of support for their fellow layoff victims and a unity message aimed at stopping billionaire job destruction would be simple to craft and easy to share. It would be news.
Why aren’t the Democrats doing this?
Because they don’t want to upset their billionaire donors by interfering with Wall Street’s pillage of working people. As Ken Martin, the new chair of the Democratic Party put it recently, “There are a lot of good billionaires out there that have been with the Democrats, who share our values, and we will take their money…”
If the Democrats dared to look under the hood, they would find that every one of those “good billionaires” is making money from job cuts that boost the value of her or his portfolio.
I was born and raised as a working-class Democrat, but I know that the slaughter of public and private sector jobs won’t stop until there’s a new party that truly represents the interests of working people.
Only then can we fight back against the billionaires and their two-party poodles so willing to curl up in their laps.
As Trump eats their faces, his voters are more likely to support proven effective progressive solutions to our shared challenges. We must find a way to meet them and welcome them into our orbit so that we can build the kind of society we all truly deserve.
In 2015, writer Adrian Bott famously tweeted: “‘I never thought leopards would eat MY face,’ sobs woman who voted for the Leopards Eating People’s Faces Party.” This went viral, coining the phrase, “Leopards ate my face.” It’s so tempting to mock people who act against their own interests such as Trump voters.
Many people voted for Trump due to their perception of economic self-interest, as MAGA promised to restore America's economy and national pride after recent hardships. Additionally, Trump's charismatic leadership and the appeal of his nationalist and anti-woke rhetoric attracted widespread support among various segments of the population.
Wait, no. That’s my paraphrased analysis of how Adolph Hitler rose to power. I substituted Trump for Hitler, MAGA for Nazi Party, America for Germany, and woke for communist. I couldn’t resist. My bad. You can find the original source: How Did Adolf Hitler Happen? on the National WWII Museum website.
So how did Trump rise to power? In a November 13, 2024 article entitled What Trump supporters believe and expect, the Pew Research Center reported “[T]he economy was the most important issue for Trump voters this year. In a September survey, 93% said it was very important to their vote. Immigration ranked second, as 82% said it was very important to their vote.”
Many people voted for Trump due to his lies about immigration and the economy. He and his team effectively tricked people into believing that he would effectively address these issues. This, because his supporters see him as a decisive leader who would change America.
According to the same Pew Research article, among Trump voters: “92% believed that biological sex is not mutable. Just 7% said a person can be a man or woman even if that is different from the sex they were assigned at birth. 89% said gun ownership does more to increase than decrease safety. 83% viewed the criminal justice system as not tough enough on criminals. 75% did not think the legacy of slavery affects the position of Black people in American society today much or at all.”
So not all that much different from Hitler’s rise to power. Trump’s voters are already learning to their dismay that Trump’s fascistic attacks on trans people, immigrants, women, and minorities won’t do anything to help anyone.
Trump’s frantic dismantling of government and mass firing of public servants—including veterans—harm these essential government employees immediately. This anarchic frenzy will hurt all of us eventually, including Trump voters. His regressive, reckless policies certainly won’t lower the price of eggs which are far more likely to infect people with food borne diseases now that Trump fired inspectors charged with keeping our food safe.
Any way forward against fascism must repudiate faux populism by championing inclusive economic policies—such as a 21st Century Economic Bill of Rights based on FDR’s Second Bill of Rights.
Many Trump voters already realize that their lives are getting worse, not better, due to Trump’s assaults on education, science, health, and nearly every other essential government service. We may feel compelled to say, “We told you so!” to Trump voters and even to other people who didn’t vote for Kamala Harris. That’s understandable, perhaps unavoidable, but I think it makes more sense to commiserate with them. After all, so many of them already lament Trump’s eating their faces off.
After we commiserate, we could listen to Trump voters and others, learn why they voted the way they did. We could urge them to vote for better candidates to cure the harms their vote caused. If that prospect disgusts you, then we could consider learning from interviews with Trump voters and public opinion polling instead.
We could engage with persuadable Trump voters and persuade them to vote for candidates courageous enough to stand up to oligarchs and corporatists. We could listen to and learn from those who rejected Kamala Harris. Trump voters, Jill Stein voters, and those who stayed home have valid views about the weaknesses of Democratic candidates and policies. After we listen to them, we could ask them to help us make the Democratic Party better.
Alan Minsky explained how and why this makes sense as a viable theory of change in his article, Our 2 Choices: Join the Democratic Party to Transform It, or Acquiesce to Fascism published by Common Dreams last month. Minsky wrote, “Because of the structure of American society and politics, the Democratic Party is the only institution positioned to challenge, defeat, and reverse the Trump administration’s ongoing destruction of our constitutional order.”
Of course this prescription involves a powerful mass movement working inside and outside of the Democratic Party. This, to effectuate an evolution in the Party to reject neoliberal economics in favor of an enlightened economics of inclusion. One that fits neatly beside, rather than works at cross purposes, with the Democratic Party’s commitment to social inclusion. Good economic policy has always been good politics.
Alan Minsky added a post script, “The one thing I think I should have added—and which I will add at the top of my next essay—is that the Democratic Party right now is flat on its back. Now is not the time for progressives to abandon the party.”
Make no mistake, Trump’s economic policies elevate special interests and oligarchs above the needs of every day Americans at least as much as any other neoliberal scams. Also, as mentioned, Trump’s style of identity politics is at least as cynical as any Democrat’s. Much worse, Trump’s demagoguery instigates death threats, stochastic terrorism, and violence. Most notably the January 6th attacks against the U.S. Capitol seeking to halt the peaceful transfer of power after Trump lost the 2020 election.
Yes, they voted for Trump. Yes, Trump is eating their faces. Yes, we may feel an almost irresistible urge to wipe what’s left of their noses in the rotten fruits of their folly. That won’t help beat back Trump’s fascism or help us win elections.
Asad Haider, author of Mistaken Identity: Race and Class in the Age of Trump (Verso 2018), wrote a commentary published in Salon entitled Despite his loss, Bernie Sanders' campaign proved that organizing around class interests works. Haider explained, “First and foremost, liberals are constantly worried about people ‘voting against their interests.’ ... According to a certain liberal common sense, working class voters are continually supporting Republicans, against ‘interests’ which haven't yet been defined.”
I estimate that between a fourth and a third of voters actually believe that scapegoating and harming immigrants, minorities, women, disabled people—aka Trump’s anti-woke, anti-DEI attacks—are in their interests. Of course they’re wrong. Still, it may well be extremely time consuming and difficult to deprogram them and free them from their hatefulness.
That said, reaching out to such people with an economic message might help begin a constructive conversation, or it may not. Calling them “deplorable” etc. gains us little more than a feeling of moral superiority. Cold comfort for people subjected to Trump’s ruthless predation, including almost all of them and us sooner or later.
By my calculus, at least two thirds of voters remain open to listening to a progressive agenda. In fact, they’re eager to support candidates and policies that center the economic needs of the poor, the working class, and the increasingly insecure middle class. This, in a marked repudiation of Carter-Clinton-Obama-Biden neoliberal policies that favor greed and power of the economic elite over the vast majority of Americans.
Bernie Sanders proved outreach based on economic imperatives works. In an article entitled Bernie Sanders influenced US politics more than any other failed presidential candidate in the country's history published in 2020 by Business Insider, John Haltiwanger wrote:
His push for Medicare for All, the Green New Deal, and tuition-free college, among other policies aimed at eradicating inequality, has set the tone for the future of the party. This is evident via young leaders such as Democratic Rep. Alexandria Ocasio-Cortez of New York, who volunteered on Sanders' campaign in 2016 before going on to win a shocking victory in the 2018 midterms.
Haltiwanger added, “Sanders has also set a new standard in the way campaigns raise money, rejecting high-dollar fundraisers while building a massive grassroots movement via small-dollar donations.”
Failing to make a Bernie Sanders-style economic appeal to voters, candidates running as Democrats keep ceding the high ground on economic inclusiveness. Trump took advantage of this failure. Other faux populists will continue doing so as well.
By running on identity rather than kitchen table issues, neoliberal Democrats squander political advantages on economics, the most important issues for many if not most voters. Candidates may shy away from inclusive economics, hoping to secure generous campaign contributions from oligarchs and elites.
In any case, the dismal results of this utterly failed approach speak for themselves. No amount of slick television ads or performative inclusion can overcome the stench of duplicitous neoliberal policies. Voters reject these broken promises. Bad economic policy remains bad politics.
Diversity, inclusion, and equity remain essential. That understood, absent a clear parallel commitment to economic inclusion, candidates relying on to DEI may appear out of touch. Worse, tokenism and other hollowly symbolic identity politics alienates increasingly cynical voters. This, including poor, working class, and middle class voters of all ethnicities, across all demographics.
Decades of bipartisan neoliberal repudiation of New Deal economic policies set the stage for Trump’s faux populism. Generations of Democrats’ failure to offer a competing inclusive economic vision opened the door for Trump’s fascism. This dismal dynamic creates an opportunity for a people-centered policy advocates. As Trump eats their faces, his voters are more likely to support proven effective progressive solutions to our shared challenges.
So-called “centrist” Democrats may try to camouflage their rob from the poor to enrich the rich policies behind a cheap and increasingly cynical strategy focusing on identity politics. That tactic isn’t working. Not as politics, nor as policy.
This approach keeps failing so spectacularly that I find it hard to imagine it’s any kind of accident. I blame million dollar a month consultants whose allegiance lies with billionaire benefactors. Their advice consistently prevents Democratic political victories. They must know this. Their income depends on it.
We can and will continue making social progress, and we must struggle for a more perfect union, no matter the backlash, and no matter how long it takes.
Overpaid pundits would rather lose to fascists like Trump than win by backing progressives like Bernie Sanders, A.O.C., and the rest of The Squad. So should people abandon the Democratic Party? As mentioned, Alan Minsky addressed that dilemma in his Common Dreams article Our 2 Choices: Join the Democratic Party to Transform It, or Acquiesce to Fascism.
Bernie eschewed high priced consultants and relied on small donations. This lets Sanders and other progressive candidates shake off shackles of campaign contributions with strings attached, freeing them to advocate for policies that benefit everyone—not just the wealthiest elite. This is important.
Any way forward against fascism must repudiate faux populism by championing inclusive economic policies—such as a 21st Century Economic Bill of Rights based on FDR’s Second Bill of Rights. Alan Minsky and Professor Harvey J. Kaye wrote about this in their February 2022 Common Dreams article entitled A Call for All Progressive Candidates and Officeholders to Embrace a 21st Century Economic Bill of Rights.
Melding economic and social policies, Minsky and Kaye wrote, “We must guarantee all people residing in the United States the right to the essentials of a good life regardless of their income, race, religion, gender, sexual orientation, or country of origin.”
It’s true. People of color, immigrants, LGBTQ+ people, disabled people, and other Trump targets disproportionately suffer from neoliberal economic neglect. Promising people equal access to college means nothing when we can’t afford to feed ourselves or our loved ones, heat our homes, or even pay the rent—much less pay for tuition, books, room, and board.
Sadly, trying to impose enlightenment on an unwilling majority usually backfires. Trump’s two electoral victories, along with appallingly sweeping victories by hate-mongers like Ron DeSantis prove these points.
We can and will continue making social progress, and we must struggle for a more perfect union, no matter the backlash, and no matter how long it takes. As Dr. King said, “The arc of the moral universe is long, but it bends toward justice.”
I hope those of us who warned against Project 2025 and the rest of the Trump wrought wreckage will extend an empathetic hand of welcome to all those who voted for Trump or failed to vote against him.
Progress toward economic and social justice makes winning culture wars more likely. By contrast, failure to address the economic needs of the majority makes social progress impossible. As the decades of New Deal coalition domination of U.S. politics proved, we can win elections and win over swing voters by addressing their economic needs. Bernie Sanders showed that the New Deal resonates as well today as it did from the 1930s all the way into the 1960s.
I hope those of us who warned against Project 2025 and the rest of the Trump wrought wreckage will extend an empathetic hand of welcome to all those who voted for Trump or failed to vote against him. This, in order to reclaim and remake the Democratic Party into a people’s party worth of the name. I hope this happens sooner rather than later.
Yes, they voted for Trump. Yes, Trump is eating their faces. Yes, we may feel an almost irresistible urge to wipe what’s left of their noses in the rotten fruits of their folly. That won’t help beat back Trump’s fascism or help us win elections. We’re better off offering the increasing numbers of repentant Trump voters a sweeping, common sense set of solutions to their economic woes. They’re our woes too.
In addition to hurting everyday folks, these federal budget cuts will provide cover for the huge tax cut for wealthy Americans the Republican House just passed.
On February 11, without providing any evidence, U.S. President Donald Trump declared that the so-called “Department of Government Efficiency,” or DOGE, was in the process of eliminating “billions and billions of dollars in waste, fraud, and abuse” in the federal government. This is an old, but politically persuasive claim Republicans and their Heritage Foundation allies have made for decades.
The problem is, as some have no doubt realized, that DOGE is not about waste and inefficiency in government. It’s the culmination of a very long-standing neoliberal strategy to get rid of a federal government that can provide help to a wide variety of people in need, limit the worst excesses of the private sector, and shore up stressed local communities, among other good causes that the private sector is notoriously unable to accomplish.
Some of you may remember former President Ronald Reagan’s quip, “Government is not the solution; government is the problem.” Well, we’ve lived 45 years under that hoariest of myths, and most Americans have paid a heavy price for it.
In brief, we have government of the rich, by the rich, and for the rich.
How does the Trump administration and its hatchet man, Elon Musk, fit into this? Most obviously through their massive layoffs of federal employees and by eliminating or slashing federal program after federal program. The effects of DOGE will be felt by a vast majority of non-wealthy Americans: veterans, workers, children, people who are sick or need healthcare, the elderly, people with low-to-modest incomes, people victimized by the rapidly increasing environmental disasters, local communities; the list goes on and on. Lumped under the “waste and inefficiency” category are the thousands of arbitrarily fired public employees who have served the public with dedication and integrity.
In reality, DOGE has two aims: The first is to make government so inept that more and more people will wonder why they’re paying taxes for a seemingly incompetent government. DOGE should really be called DOGI—the Department of Government Ineptitude. That would fit nicely with the host of misfits and incompetents Trump has appointed to head various federal departments.
But the other clear objective is that, in addition to hurting everyday folks, these federal budget cuts will provide cover for the huge tax cut for wealthy Americans the Republican House just passed. As in the past, the tax cut will likely give people in the lower 90% of income levels an extremely modest tax cut, but the real beneficiaries will be the wealthiest Americans who already enjoy wealth most people can’t even imagine. And, as in the past, the tax cuts will be “justified”by the myth that cutting taxes for the wealthy and corporations will generate economic growth—i.e., jobs.
Unfortunately, we’ve been here before. The Reagan administration slashed taxes for the wealthiest Americans and corporations, thereby creating a huge federal deficit, yet the tax cuts failed to generate significant job growth. Instead, they ushered in the era of enormous inequality that is still with us. Most Americans saw no increase in their incomes. The George W Bush pro-rich tax cuts had similar effects, as did the huge pro-rich tax cuts of the first Trump administration. One result is that wages for most Americans have been largely stagnant for 50 years. There is no economic growth magic in these kinds of tax cuts.
But “tax cuts” sound good to people who struggle to make ends meet, and therein lies their appeal. However, the real problem isn’t the level of federal taxes, it’s the inequality in who bears the burden of those taxes.
Like many things in the U.S., taxes impose the heaviest burdens on those with modest incomes. This wasn’t always the case, of course. From the 1940s to mid-1960 the richest Americans were taxed at a 91% rate on taxable income. Today, thanks to these tax cuts, their rate is 37%. Similarly, the capital gains tax, corporate taxes, and estate taxes have all been significantly reduced, benefitting you know who.
Thanks to these tax cuts, the growing inequality in wages and salaries, and an all-out attack on labor union organizing over the past 45 years, we have witnessed a massive transfer of wealth from the middle class to the wealthiest families in America—one reason we hear so much about billionaires these days. In fact, a recent study published in The New York Times, reported that, for the first time, billionaires paid a lower effective tax rate than working class Americans.
Beyond the grotesque unfairness of this system, the truly ominous outcome is what this means for “our” government. Thanks to Republican-appointed Supreme Court majorities, campaign contributions have been classified as “speech,” meaning that restricting campaign contributions violates the First Amendment, no matter what this does to democracy. And so, in 2024, 150 billionaires contributed a total of $1.9 billion to political campaigns. In brief, we have government of the rich, by the rich, and for the rich.
If you feel the government has passed you by, welcome to the majority of Americans who don’t really have much of a voice in our political system. That, rather than alleged “waste, fraud, and abuse,” is what is wrong with our government.