Economy

Another Woman: Obama Picks Mary Jo White for SEC Chair

Another Woman: Obama Picks Mary Jo White for SEC Chair
President Obama nominates Richard Cordray to continue as head of the Consumer Financial Protection Bureau and Mary Jo White as Chair of the Securities and Exchange Commission (SEC).
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$57 Trillion Needed by 2030 to Fix Failing World Infrastructure

$57 Trillion Needed by 2030 to Fix Failing World Infrastructure
The American Society of Civil Engineers (ASCE) gives our nation’s infrastructure a grade of “D” and says the United States alone needs to spend $2.2 trillion over the next five years to get infrastructure back on track.
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Ending Corporate Tax Dodging Would Cut Deficit By Twice As Much As Hiking Medicare Age

Ending Corporate Tax Dodging Would Cut Deficit By Twice As Much As Hiking Medicare Age
Earlier this month, the Congressional Budget Office said we could raise $114 billion over ten years — twice as much as raising the Medicare age — by limiting corporate tax deferrals.
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Oh Great, More CEOs Telling Us We Need to Cut Social Security and Medicare

Oh Great, More CEOs Telling Us We Need to Cut Social Security and Medicare
Someone needs to tell these CEOs 8.9 percent of American seniors already live in poverty, while 5.4 percent are on the edge. The average Social Security recipient collects $1,164 per month.
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Politicians Keeping Their 3% Cut to Social Security Quiet

Politicians Keeping Their 3% Cut to Social Security Quiet
Congress and the president are going to do exactly what voters elected them to do; they are going to cut Social Security by 3 percent. You don’t remember anyone running on that platform? Yeah, well, they probably forgot to mention it.
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A Tax Deal Only the Ultra-rich Could Love

A Tax Deal Only the Ultra-rich Could Love
How much do the newly enacted tax hikes on the wealthiest Americans actually affect them? Hardly at all.
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Harold Meyerson
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Buried in Jobs Report: Strong Growth in Construction

Buried in Jobs Report: Strong Growth in Construction
After five years of hemorrhaging jobs, the construction industry has been rebounding over the past three months, a sign that some economists say indicates there is hope for the economy on the whole.
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You Pay Taxes. Why Shouldn’t Prison Profiteers?

You Pay Taxes. Why Shouldn’t Prison Profiteers?
The Corrections Corporation of America makes money by incarcerating people and gets practically all its money from taxpayers. Now they want to do that and not even pay their taxes. They've already done the paperwork and reorganization necessary to allow them to make this change. Now they’re just waiting for approval from the IRS before they move forward.
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Rescued by the Government, AIG Considers Suing Its Savior

Rescued by the Government, AIG Considers Suing Its Savior
Could this potential lawsuit be an attempt to recover the profits made by the government for saving the company? Or is this the classic case of privatized profits and socialized losses? It really does not matter. That the titans of finance will meet their undoing if they continue to live in an alternate state of reality.
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Debt Ceiling Solution: A $1 Trillion Coin?

Debt Ceiling Solution: A $1 Trillion Coin?
With Republicans increasingly holding the debt ceiling hostage in an attempt to secure budget cuts, the idea of a statuary debt limit seems foolish and potentially destructive. However, one potential solution seems even more absurd - minting a $1 trillion coin.
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