Economy

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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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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