Economy

If Congress Fails to Stop the Sequester

If Congress Fails to Stop the Sequester
Just days before $85 billion in deep federal budget cuts are to take effect, the Democratic National Committee is circulating a new online infographic aimed at pressuring Republicans to back President Obama’s plan to avoid the so-called sequester.
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Massive Defense Contractor Wants Budget Cuts for Americans but Not for Itself

Massive Defense Contractor Wants Budget Cuts for Americans but Not for Itself
The defense industry is making a self-interested argument against the sequester, claiming that it would hurt military readiness (a false claim, as military experts recommend twice the level of defense cuts as are in the sequester).
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Wages at Financial Institutions Continue to Grow, Even as Wages Everywhere Else Stagnate

Wages at Financial Institutions Continue to Grow, Even as Wages Everywhere Else Stagnate
Wages used to go up as productivity went up, but in the 1970s they decoupled. Productivity kept going up but wages stagnated.
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Erskine Bowles Personally Made $114,000 from Facebook Tax Loophole He Doesn’t Want to Close

Erskine Bowles Personally Made $114,000 from Facebook Tax Loophole He Doesn’t Want to Close
Erskine Bowles and Alan Simpson have released yet another austerity plan that lowers taxes on corporations while proposing Social Security and Medicare benefit cuts.
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Is the Minimum Wage Argument the New Democratic Golden Ticket?

Is the Minimum Wage Argument the New Democratic Golden Ticket?
A minimum wage increase is enjoying broad support across the board among voters. Democrats are currently championing the cause and are in position for a major political victory if the legislation passes. Interestingly, research shows that voter turnout dramatically increases when the minimum wage is part of a ballot initiative.
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40% of Americans Now Make Less Than 1968 Minimum Wage

40% of Americans Now Make Less Than 1968 Minimum Wage
The average American’s living standard would be much, much higher today if wages had not decoupled from productivity gains – with the gains all going to the 1 percent instead of being shared by workers. If wages had kept pace we wouldn’t feel the terrible squeeze that everyone in the middle class is feeling.
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How Putting Minimum Wage Increases on the Ballot Increases Progressive Voter Turnout

How Putting Minimum Wage Increases on the Ballot Increases Progressive Voter Turnout
If Republicans stop a wage hike at the federal level, they may be welcoming a barrage of minimum wage ballot initiatives that not only would allow states to forge ahead on their own, but also would increase progressive voter turnout.
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The Minimum Wage Would Be $21.72 an Hour if it Rose with Productivity Since 1968

The Minimum Wage Would Be $21.72 an Hour if it Rose with Productivity Since 1968
The Center for Economic and Policy Research’s John Dewitt looked at what the minimum wage would be if it simply rose with productivity since 1968, and found that it would be almost 3 times what it is now.
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Rich Are Getting Richer and It’s Hurting Social Security’s Finances

Rich Are Getting Richer and It’s Hurting Social Security’s Finances
The unprecedented upward distribution of income to the already rich over the past three decades has caused a conundrum for Social Security’s finances.
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Social Security 'Fraying' From Neglect

Social Security 'Fraying' From Neglect
Outgoing Social Security Commissioner Michael J. Astrue has some parting shots for Congress, the White House and advocates for seniors. They have all "really walked away from Social Security," he says, leaving the program "fraying because of inattention to its problems."
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