A few weeks ago I was visited in my office by the chairman of one of the country's biggest high-tech firms who wanted to talk about the causes and consequences of widening inequality and the shrinking middle class, and what to do about it.
It's crucial that we help working families who are quickly falling further and further behind.
The International Monetary Fund just came out with a depressing prognosis for US economic growth -- 2 percent this year, and maybe 3 percent next year? Why? A too-bad winter, slowdown in the housing market, and stagnant wages, said the report.
OECD's report touts the virtues of the EITC as a wage subsidy for low-income workers that both encourages work and reduces poverty. They go on to emphasize an EITC reform that we too have gotten solidly behind.
Does anyone actually still believe the words "trickle-down theory" have any valid meaning? Is anyone buying into this fiction that increasing the minimum wage would ruin our economy but multi-million dollar executive salaries don't increase prices at all?
The public's opinion of a particular political action is often colored by that person's political affiliation. So when President Barack Obama adopts ...
One might assume that life in the most religious states in the nation would approximate the idealized "City upon a Hill" envisioned some four hundred years ago by John Winthrop, the Puritan colonist who served as first governor of Massachusetts Bay Colony. To check that assumption, I did some research.
What they have in common is the sense to realize that wealth -- in the true sense of wealth -- just doesn't trickle down. The Pope has said, " 'thou shalt not' to an economy of exclusion and inequality," and Seattle simply has said "it shall be" to a $15.00 minimum wage.
If you work hard, you should make enough to live a good life and provide a better one for your kids. That's a conviction worth fighting for and a sentiment that rings true for most people, not just in Seattle but everywhere.
Income inequality is a topic that hovers over our economy like the mother ship from Independence Day. It has a national impact as well as individual impacts to millions of Americans.
This November, Americans will choose governors in 36 states, elect the entire U.S. House of Representatives and one-third of the U.S. Senate, select a great majority of their state legislators, and decide who will represent them in hundreds of local elections.
Over half of the Fortune 500 companies in this country made a profit every year between 2008 and 2012. Yet together, those companies dodged a combined $73.1 billion in state income taxes.
Inadequate compensation in early education helping professions remains one of society's biggest challenges. We have not been able to move the needle sufficiently on the issue of low wages in the early childhood field which keeps many talented teachers from joining the ranks and/or staying in the field.
As if it weren't enough that some of the Republican Party's leaders were breaking with the party on this issue, now their loudest talking point is being undermined by the very people the Republican Party pretends to speak for in its opposition to raising the minimum wage: businesses and large corporations.
Everybody talks about giving power to the people, but recent events in Albany give us hope that will truly happen in the coming months and beyond.
With Friday's numbers showing the addition of 217,000 jobs, the U.S. finally restored the 9 million jobs lost in the recession -- five years after it supposedly ended. But we can keep the champagne on the shelf: we still need an estimated 7 million more jobs to keep up with population growth; if we count those who've dropped out of the labor force, our current unemployment rate would actually be 9.7 percent; and, adjusting for inflation, hourly wages are actually lower now than at the end of the recession. So we may have recovered 9 million jobs, but we seem to have lost all sense of urgency about saving the middle class. Meanwhile, the swap of Sgt. Bowe Bergdahl for five detainees held at Guantanamo was as messy and ambiguous as the overlong war it sprung out of.