Dear John,
Those in favor of deregulation claim that getting rid of “burdensome” rules frees up the economy to be more productive. But the truth is, Donald Trump, Elon Musk, and their minions don't really care about getting the government off YOUR back. They want to get the government off THEIR backs – and the backs of their corporate donors.
Regulations protect you and me – from being harmed, fleeced, shafted, injured, or sickened by corporate products and services.
Take the Consumer Financial Protection Bureau. Trump and DOGE gutted the agency and dropped major lawsuits against predatory banks, while Republicans cancel regulations that protect against excessive fees. The result: you’re more vulnerable to financial fraud and abuse, while corporations and billionaires increase their profits.
Or consider the climate. After Big Oil bankrolled Trump’s 2024 campaign, Trump installed a Big Oil insider as EPA administrator, setting in motion dirty energy projects while rolling back over 30 pollution regulations that were established to save lives and protect the planet. Big Oil will profit, while the rest of us pay the price.
In today’s video, we examine how “deregulation” causes harm to our environment and our pocketbooks. I hope you’ll watch, comment, and share.
Trump’s deregulation has been a disaster for workers, too. Trump reversed Biden’s $15 minimum wage for federal contractors, reversed a 1965 order against workplace discrimination, and replaced the National Labor Relations Board pro-worker general counsel with an anti-union corporate lawyer.
Trump’s mass firings of thousands of federal workers undermine air safety, food and drug safety, disaster response, public health, and much more. Again, less oversight for corporations, more cost and risk for the rest of us.
To make matters worse, Trump is ramming through his agenda with almost no opportunity for public input. We may not know for years the full extent of the harm he is doing.
So when you hear Trump or anyone from his administration say that gutting regulations is good for America – know the truth. Deregulation is just another kind of trickle-down economics – one where the financial gains go to the top, and nothing trickles down except the risks and losses.
Thank you for watching and sharing today’s video.
Robert Reich
Inequality Media
