Leo W. Gerard

President’s Perspective

Leo W. Gerard USW International President

Really, Really Rich Trump Is No Workers’ Champion

Presumptive Republican Presidential Nominee Donald  “I am really, really rich” Trump is, according to Forbes, the 121st richest person in America. So, yes, he is really, really rich.

He loves the perks of being really, really rich, like flying to campaign events in one of his own private jets, which means he blithely skips those annoying airport security lines that non-billionaires must endure. He enjoys kicking back in one of his five houses, including the 58-bedroom Mar-A-Lago mansion, where the $600,000 annual property taxes are three times the entire cost of an average American home. And, of course, Trump relishes the power he has to tell workers, “You’re fired.”

Born into wealth, Trump attended private schools and inherited $40 million when he was just 28 years old. He didn’t spend summers volunteering for Habitat for Humanity in Appalachia. He didn’t take a gap year to put that fancy private school education to use tutoring inner city kids. So, frankly, it’s easy to understand why he opposes raising the minimum wage. This guy who was born with a really, really silver spoon in his mouth doesn’t have a clue what living on $7.25 an hour means. 

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The Libertarian Party Could Provide Insurance for Hillary Clinton

Robert Kuttner

Robert Kuttner Co-Founder and Co-Editor, The American Prospect

Two former Republican governors are running for president and vice president on the Libertarian line. They are Gary Johnson, former New Mexico governor, and William Weld, former governor of Massachusetts. The Libertarian Party holds its nominating convention in Orlando, Florida, over Memorial Day weekend.

The Libertarian Party could play the spoiler role in 2016 for Donald Trump, just as Ralph Nader did in 2000, but this time helping to tip the election to the Democrat.

Its minor-party counterpart on the left, the Green Party led by standard bearer Jill Stein, is far less likely to draw a comparable level of support from disaffected Bernie Sanders supporters. Sanders himself has already said he’ll support the Democratic nominee.

Unlike the typical third party candidates, Johnson and Weld are experienced mainstream politicians. Johnson, a former construction company entrepreneur, served two terms from 1994 to 2002, winning both elections by ten points. Weld was a highly popular and moderate governor of the Bay State. He won re-election by the largest margin in state history in 1994.

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Big Report, Little Finding: The ITC evaluates the economic impact of the TPP

Jared Bernstein

Jared Bernstein Senior Fellow, Center on Budget and Policy Priorities

The International Trade Commission (ITC) just released its 792-page monster of a report on the “likely impact” of the Trans-Pacific Partnership (TPP) on the US economy. The findings are largely positive on net but tiny, which confirms two of my priors. First, I see no rational way your support or opposition to the TPP can be informed by these findings, and second, trade agreements, as opposed to trade, have little to do with US growth and jobs.

That is not, btw, meant to be a critique of the report. The fact that it shows tiny results, which I’ll get to in a moment, comports (as I said above) with my expectations of the economic impact of a trade agreement with a bunch of countries, 6 with whom we already have trade deals.

But as I’ve stressed before, it is beyond our capacity to plausibly model the impact of a complex, 6,000 page, 12-country trade deal 15 years out! Remember, we’re severely challenged trying to accurately predict GDP or jobs out one quarter or one month. And while the ITC report fails to provide confidence intervals around its estimates, they’d likely cross zero (i.e., be statistically indistinguishable from no change at all).

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Republican Bible 101:

Republican Bible 101:

Union Matters

Workers Make, Executives Take

Chief executive officers at S&P 500 companies made on average a whopping 335 times more than ordinary rank-and-file workers in 2015, according to a new AFL-CIO report.

The AFL-CIO, the largest federation of labor unions in the United States, found that while working people continued to see stagnating wages averaging just $36,900 per year, CEOs thrived to the tune of tens of millions of dollars. 

Outsourcing has only made the gaping pay disparity between the people who do the work and the people who reap the benefits even worse. 

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