April 11, 2018

Ex-Treasury secretary compares Trump to Mussolini

Musso also believed in minimum wages, equal rights for women and a strong progressive tax. So I expect Summers will also mention that the Democrats are the true heirs of Mussolini.  Or maybe not

Once again, all Summers has on Trump is his words.  He convicts Trump of Fascism solely because Trump has criticized one particular business - Amazon.  For some unknown reason, a President is not allowed to criticise a business, apparently.  No First Amendment protections for Trump's speech?

Summers is an economist so he should know that a perfectly democratic country -- Britain -- not only criticized various businesses but nationalized them and brought them under government control in the '40s and '50s. Such actions clearly go a long way beyond criticizing the businesses concerned.  Mrs Thatcher reversed that folly but both the nationalization and the de-nationalization were accomplished in a perfectly democratic way.

Mr Summers appears to have a quite strange idea of what democracy can and cannot do.  From Alcibiades in the Peloponnesian wars to this day, democratic leaders can do very foolish things but that does not make them less democratic


Former Treasury Secretary Larry Summers believes President Trump's recent attacks on Amazon are un-American. "Going on jihads with the power of the federal government against companies whose CEOs' private activity he doesn't find congenial — that's not the stuff of democracy," Summers said in an interview Thursday on CNN's "New Day. "That's the stuff of much more totalitarian countries."

Amazon (AMZN)founder and CEO Jeff Bezos privately owns the Washington Post, which Trump often derides as "fake news" for reporting on the administration. Trump has claimed without evidence that the Post is a "lobbying group for Amazon."

In the past week, Trump has fired off five false or misleading tweets about Amazon, including that the company doesn't pay state and local taxes and is causing the Postal Service to lose money. (Amazon collects sales tax in every state that charges one and remits it to the states, and it also pays the post office to deliver packages to customers' doors.)

Trump's tweets, as well as reports raising the possibility the Trump administration may look into tighter regulation or antitrust lawsuits against Amazon, have driven down the company's stock.

"Make no mistake, that's a Mussolini tactic, not an American tactic," Summers said of Trump targeting a private company. He called Trump's tweets "potentially quite dangerous for our business confidence."

Summers, a Democrat, led the Treasury Department under President Clinton and served as President Obama's top economic adviser from 2009-2010. He has been an outspoken critic of Trump and the administration's economic policies in the past.

The former Treasury secretary said Trump's attacks on Amazon should make "pro-business Republicans" nervous.

SOURCE






Go to John Ray's Main academic menu
Go to Menu of longer writings
Go to John Ray's basic home page
Go to John Ray's pictorial Home Page
Go to Selected pictures from John Ray's blogs