Les Leopold is the executive director of the Labor Institute and author of the new book, “Wall Street’s War on Workers: How Mass Layoffs and Greed Are Destroying the Working Class and What to Do About It.' (2024). Read more of his work on his substack here.
“The greed of the John Deere company is giving President Biden the perfect opportunity to win back working-class voters. All he needs to do is put up a major fight to stop Deere from shipping U.S. jobs to Mexico.” I wrote that on June 12, 2024, and the Democrats ignored me. Donald Trump did not. He just called for a 200% tariff on all John Deere imports if the company exports U.S. jobs to Mexico. How have the Democrats responded to Trump? In the worst way possible.
” There’s an entrenched sense within the Democratic Party of what kinds of interventions are acceptable in financialized capitalism and which are not. Here are a few of the internalized rules: It’s OK to tax stock buybacks, but it’s not OK to outlaw them. It’s OK to raise taxes on corporations, but it’s not OK to interfere with their power to lay off workers at will.
Democratic Party Donald Trump John Deere Kamala Harris Stock Buybacks Working Class Mass Layoffs
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