Reprinted from Fortune by Sam Berger on January 31, 2018.
“In his State of the Union Address on Tuesday, President Donald Trump once again touted his administration’s efforts at deregulation,” writes Sam Berger in Fortune magazine. “Trump has frequently suggested that eliminating regulations leads to economic growth and greater prosperity. But he is wrong that the economy has been booming under his watch, and he is obscuring the intent of his efforts to strip important safeguards for workers.
“Job growth in 2017 continued, but was the weakest it’s been since 2010, and real wage growth was tepid. And, far from cutting burdensome or outdated requirements, Trump has been attacking regulations that protect workers’ pay, retirement, and safety in order to pad company profits.
“While Trump frequently crows about the number of regulations he will cut, and has even promised to reduce regulation to pre-1960s levels—a time before mandatory seat belts and air bags or protections to ensure clear air and water—he does not frequently discuss the specifics of his efforts. Doing so would reveal that deregulation is simply a code word for letting big businesses cut corners at everyone else’s expense. …