Though the federal government and Federal Reserve moved heaven and earth to ensure the 1% were made whole after the financial crisis, those unable to buy influence in Washington remain frayed. According to the Census Bureau over 14% of Americans remain below the poverty line while financial markets have made a considerable recovery from 2008 lows. There has been a recovery, for some.
|By: David Dayen Sunday September 14, 2014 1:59 pm|
Welcome Eileen Appelbaum (CEPR), Rosemary Batt (Cornell University) and Host David Dayen (David’s webpage) (Twitter) Private Equity at Work: When Wall Street Manages Main Street A couple weeks ago, Burger King announced a merger with the Canadian coffee-and-donuts chain Tim Hortons. Well, not actually Burger King, but 3G Capital, the private equity firm that owns [...]
|By: Peter Van Buren Wednesday August 27, 2014 2:25 pm|
The way you functionally subsidize companies paying low-wages to workers– ponying up the difference between what McDonald’s and others pay and what those workers need to live via taxpayer-paid SNAP (food stamps) and other benefits– is a hidden cost in plain sight. You’re already paying higher prices via higher taxes; you just may not know it.
|By: DSWright Tuesday August 12, 2014 11:04 am|
It’s the fake recovery, stupid. Despite lavish talk of an economic “recovery”, consumer confidence has remained low. Unlike the 1% who are seeing their wealth climb higher on the back of juiced financial markets and tax cheating the average American is living outside the plutonomy in a more limited world. In that world the new jobs pay an average of 23% less than the ones lost during the recession caused by Wall Street. In that world people still live paycheck to paycheck with little possibility for a more prosperous future.
|By: DSWright Thursday July 17, 2014 7:55 am|
From a policy making perspective this does not mean states should never try to create a better business climate by lower business costs, but it does mean the trade-off between growth and inequality should be factored into that policy making process. It should be understood that the price of lowering business costs is not just less tax revenue but also increased inequality.
|By: danps Friday May 23, 2014 1:56 pm|
One of the more memorable turns of phrase I’ve heard in the past few years came during the effort to unionize an Ikea plant in Virginia. In the same way that Mexico became an attractive location for American capitalists because of lower wages and less stringent environmental standards, some European employers began finding America more to their liking.
|By: Jon Walker Tuesday May 20, 2014 3:19 pm|
The most important issues for Americans right now are the economy, the deficit and taxes. On all three the Republicans hold an advantage over Democrats according to Gallup.
|By: Kevin Gosztola Wednesday May 14, 2014 4:10 pm|
The Pentagon won’t respond to Chelsea Manning’s requests for gender treatment, but they’ll apparently permit officials to leak information on how the agency plans to handle her requests to the media.
|By: Jon Walker Thursday March 13, 2014 12:55 pm|
It is worth remembering that while the media often focus on how the latest story or international incident will affect elections, what regular people care about most has remained unchanged for years.