Tag: wages

Links 12/20/16

The Rigged System for the 1%:

Infrastructure Jobs:

Trade:

Social Security:

Trump explicitly said that he would not cut Social Security benefits if elected. “I’m not going to cut it, and I’m not going to raise ages, and I’m not going to do all of the things that they want to do. But they want to really cut it, and they want to cut it very substantially, the Republicans, and I’m not going to do that,” he told a Wisconsin radio station during the primary.

Transition:

Overtime Pay:

Deregulation:

Poverty:

Wages:

2016 Election:

Just three counties – Macomb County, MI; York County, PA and Waukesha County, WI – elected Donald Trump. If those three counties had cast zero votes, Trump would have lost all three states and the election. By the same logic, just three counties re-elected President Obama in 2012: Miami-Dade County, FL; Cuyahoga County, OH and Philadelphia, PA.

White Collar Crimes:

Links 12/13/16

Wealth Redistribution to the Rich:

  • Wells Fargo Becomes First Bank to Fail Sanctions for Failing Too-Big-To-Fail Test Who needs a living will when you have the taxpayers’ money to fall back on?
  • Taking from the Middle Class, Giving to the Rich: It’s the Malloy Way I live in CT, which is one of the worst states in the country in terms of income inequality. I’ve noticed that this behavior is common.
  • Watch Bernie Sanders Convince a Trump Voter She Voted for the Wrong Person- in Less than Two Minutes

    What all of us should know is that over the last 25 years, there has been a massive transfer of wealth in this country from you to the top one-tenth of one percent. In other words, the middle class has shrunk and trillions of dollars have gone to the top one-tenth of one percent. Do you think it’s inappropriate to start asking those people to pay their fair share of taxes so we can adequately fund Medicaid and make public colleges and universities tuition-free. Is that an unfair thing to ask?”

    After a pause, Sparks replied, “I don’t think it’s an unfair thing to ask. They got rich off of us, so it’s time they put back.”

    Once wealth redistribution for the poor is put into this context, people understand its justification.

    Wages:

  • Renters Facing Affordability Crisis As Wages Stagnate Yes, I used to work in leasing. There’s no justification for the rent increases. Wages aren’t increasing. The buildings aren’t getting better. Builders use cheaper and cheaper materials for new products and owners charge higher prices. The leasing offices love to introduce new fees for services that used to be free.
  • Trump Turns the Focus to Workers and Wages He has the opportunity to completely change the trajectory of the Republican party.

    Gender Pay Gap:

  • The Gender Pay Gap is Hurting Women’s Health This study is about Australia, but I think this phenomenon is real in the United States also.
  • Unjustified CEO Compensation:

  • CEO Pay: Can a Tax Address Income Inequality?
  • Chipotle Drops Dual-CEO Model Over $26 million per year for two CEO’s. What a waste.
  • Healthcare:

  • Why is Healthcare So Expensive?
  • Record-High Health Care Spending Hits $3.2 Trillion in 2015
  • United States Comes in Last Again in Health, Compared to Other Countries
  • Quality of Life:

  • Stress in America: ‘Everybody Outside of the Top is Suffering’
  • Origins of Happiness: Evidence and Policy Implications Contentment is a good end goal.

    Poverty:

  • Nearly 1 Million N.J. Residents Now Live in Poverty, as Rate Soars in Atlantic City
  • America’s Dirty Little Secret: 42 Million People are Suffering From Hunger
  • Poverty May Have a Greater Effect on Suicide Rates than do Unemployment or Foreclosures
  • Income Inequality:

  • Income Inequality Keeps Growing and Its Worse than We Thought
  • Weigel: Income Inequality Nightmare
  • How Should We Compensate the Losers from Globalization?
  • Capitalism is Working Better in France than in the U.S.
  • It’s policies like a higher minimum wage, higher unionization and more equal education that have let the bottom 50 percent do better in France than in the United States. Although that’s not to say that things have been great in France. Their bottom 50 percent have only had their incomes grow 0.9 percent a year. It’s just that anything is better than nothing, and nothing is what the U.S. working class has gotten for a long time now.

    The more money the rich make, the more money they have to lobby for the policies they want, which will then help them make even more money. Indeed, political scientists Martin Gilens of Princeton and Benjamin Page of Northwestern found that it almost doesn’t matter what average voters want when it comes to what bills Congress passes. All that matters is what elites and interest groups want. In other words, American democracy works for the top 1 percent because American capitalism does, and American capitalism works for the top 1 percent because American democracy does.

    Links 12/10/16

    Economic Mobility:

    • The Next Generation of Americans is Going to be in a Lot of Trouble “Children’s prospects of achieving the ‘American Dream’ of earning more than their parents have fallen from 90 percent to 50 percent over the past half century,” said Stanford economist Raj Chetty, co-author of the [Equality of Opportunity Project] study. “This decline has occurred throughout the parental income distribution, for children from both low and high income families.” But there’s hope:

    “The fading of the American Dream is not immutable,” the [Equality of Opportunity Project] concludes. “There are cities throughout America — such as Salt Lake City and Minneapolis — where children’s chances of moving up out of poverty remain high. Cities with high levels of upward mobility tend to have five characteristics: lower levels of residential segregation, a larger middle class, stronger families, greater social capital, and higher quality public schools.

    Income Inequality:

    Unjustified CEO Compensation:

    Poverty:

    Wages:

    Links 12/8/16

    White Collar Crime:

    Inequality and Mobility:

    Wages:

    Trump’s Promises to America’s Workers:

    Labor:

    Jobs:

    Wealth Gap and Savings:

    Trade:

    Links 12/7/16

    Jobs:

    Poverty:

    White Collar Crime:

    Unjustified CEO Compensation:

    Offshoring Jobs:

    Trade:

    • Desperately Searching for a New Strategy Tim Duy’s Fed Watch. There are a lot of interesting points in this article, but I could not disagree more strongly with the following: “Just pretending to care is important. At a minimum, the electoral college makes it important.” The Democrats pretended to care about inequality, but they delivered very little. That’s why they lost. If Trump doesn’t deliver, he’ll lose also.

    Plutocracy:

    • Trump Assembles a Strategic and Policy Forum to Better Hear the 1% Fabius Maximus. This forum includes some of the most successful business people in the country. These people know how to create jobs. They didn’t care about it in the past because it was never in their economic interest. Let’s see if Trump can force real ideas out of them.

    Wages:

    • An Econ Theory, Falsified Noahpinion: Interesting perspectives on the impact of immigration and minimum wage raises on jobs

    The Ignored Voices of the American People:

    Populist Revolution:

    Health Care:

    Links 12/4/16

    Trade:
    Trump Takes Twitter Aim at Companies Looking to Move Jobs Abroad “A 35 percent tariff, he said, ‘will make leaving financially difficult, but these companies are able to move between all 50 states, with no tax or tariff being charged.’”

    Jobs:
    Trump to Intervene to Keep U.S. Jobs at Home on ‘Day by Day’ Basis, Pence Says

    The Enormous Wage Potential Of Infrastructure Jobs This is old, but relevant given Trump’s proposed $500 billion infrastructure investment.

    The Honest Pathway to Better Jobs: Trump’s Wrong, So Are Democrats “Middle-class jobs — those paying, say $40,000 to $80,000 a year — depend on improving productivity. When workers add more value, it makes sense to pay more money.” Agreed. Then why is there such a big disconnect between productivity and a typical worker’s compensation since the 1970’s?

    Manufacturer Rexnord Plans to Move 300 High Paying Jobs to Mexico This is an older article, but it’s about the company that Trump is currently targeting. Although profits dropped from 2015 to 2016, Rexnord still generated $67.5 million in profit in fiscal 2016.

    Wages:
    Millions of Workers in Limbo after Rule Expanding Overtime Pay Eligibility is Put On Hold

    Corporate Welfare:
    Sanders Says Carrier Deal Sets a Dangerous Precedent “[Trump] has signaled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives.” I don’t see this a real threat, but maybe I’m wrong.

    Northrop’s Corporate Welfare

    Poverty:
    Study: Poverty Should Be Measured by More Than Just Income

    Links 12/3/16

    Poverty:
    Poverty is Not Only an Ignored Word Depending on the study, at least 40 million Americans are living in poverty. No wonder so many voted for a change.

    Poverty Doesn’t Need Technology. It Needs Politics. “Fighting poverty- and making our nation more economically fair- is not a mystifying riddle waiting for a technological breakthrough. It is a question of political will. If we want to push more wealth down the economic chain, we will.”

    The Stunning Effect Social Security Has Had on U.S. Elderly Poverty Rates in 1 Chart “The findings showed that Social Security benefits have kept nearly 22.1 million Americans out of poverty.”

    Wages:
    Jury Awards California Truckers 54 Million in Walmart Wage Suit  Another day, another example of Walmart violating labor laws.

    Day Laborers Can Fight Wage Theft with This New Organizing App

    A Grocer Raised Its Prices So It Could Increase Workers’ Wages. Are Customers Willing to Pay? As the owner says, it will “make [the store] have a hard couple of months as we adjust.” In the meantime, it’s giving workers peace of mind as they stop falling behind on bills. It’s also great for the store’s image and relationship with the community.

    Jobs Report:
    What ‘Are So Many of Them Doing?’ 95 Million Americans Not in the Laborforce This is a historic high. But when you factor in retirees, high school children, and adults in college, the number is significantly smaller.

    Quality of Life:
    Judge Denies Michigan Request for Stay Over Flint Water

    Taxes:
    Trump’s Treasury Pick Describes a Very Different Tax Plan Than His Boss Campaigned On If it means less inequality, fine. That’s what many of his supporters wanted.

    Democratic Socialism:
    Hope in a Dark Era: Thousands Turn to Democratic Socialism

    America First?
    Battles to End Poverty, Inequality Will Falter in Trump Era, Experts Predict The United States needs to devote more of its resources to improving the lives of U.S. citizens, at least 46 million of whom, are living in poverty. If this temporarily means decreased foreign aid, fine.

    Trump’s Promises to America’s Workers:
    Is Trump’s Idea to Fix the “Rigged System” by Appointing Crooks Who Played It?