This brief set of calculations from the Wall Street Journal’s Ellen Schultz shows simply how much of a raw deal American workers have been getting from defined-contribution retirement plans. It is impossible for them to generate the rate of return of a defined benefit plan, just completely impossible. Schultz shows this in the context of Social Security
|By: David Dayen Wednesday October 24, 2012 11:06 am|
|By: David Dayen Thursday April 5, 2012 9:10 am|
President Obama will sign the JOBS Act today, a bill that sprung from his own Jobs and Competitiveness Council, a group with 19 corporate executives and 2 labor officials. Dealbook reports that Wall Street companies have begun to scour the bill for provisions that they can use to their advantage. Because that’s how it works, right? Congress writes the legislation, and only afterwards does Wall Street look to see how it benefits them! They never try to influence the process or write the legislation themselves, that would be untoward.
|By: David Dayen Friday January 27, 2012 4:44 pm|
We’re not seeing in the numbers a return to the union valhalla of the 1950s and 1960s. But if unions could increase their membership despite a series of assaults, imagine what could happen with friends of labor in policymaking positions and with new rules designed to help collective bargaining rather than harm it.
|By: Jane Hamsher Friday November 4, 2011 6:01 am|
1. Yes, I’ve seen it.
2. I was arrested for protesting against the Keystone Pipeline, so no, I don’t agree.
|By: David Dayen Tuesday September 27, 2011 1:40 pm|
We have known for years about the dangers of being a trade unionist in Colombia, of the murders of organizers and labor officials. The murders have increased in frequency in the years since the US negotiated a trade deal with Colombia. They are well documented. Now Rich Trumka has sent the President a list of victims.
|By: Joe Burns Saturday September 10, 2011 1:59 pm|
Labor commentator, and former union staffer, Steve Early draws on years of trade union activism to shed light on labor’s troubled path over the last decade. His recent book, The Civil War’s in US Labor, examines the internal conflicts which have wracked the labor movement over the last decade: the 2005 split of several international unions from the AFL-CIO to form the Change to Win coalition, the subsequent fracturing of Change to Win, and the internal conflict within the Service Employees International Union (SEIU).
|By: David Dayen Wednesday August 31, 2011 8:55 am|
The White House is getting an early jump on the House Republicans’ next potential hostage-taking event, and perhaps learning something in the process. In an event today, flanked by AFL-CIO chief Richard Trumka, Chamber of Commerce COO David Chavern and Transportation Secretary Ray LaHood, President Obama will call for a clean extension of the Highway Trust Fund, which is set to expire at the end of September. Rather than cutting the surface transportation budget, rather than pre-compromising on a level of cuts, the President will demand a clean bill at present levels.
|By: David Dayen Friday August 26, 2011 7:20 am|
Jed Lewison tallies up the numbers from CBO, and notices that the focus on deficits over the past 20 months was a success! At least with regards to long-term deficits.
|By: David Dayen Thursday July 21, 2011 2:00 pm|
Just about the only specific piece of the Gang of Six proposal, as explained well by Rep. Peter DeFazio in the video, is the move to chained CPI, a benefit cut for Social Security, veteran’s benefits and any program with a cost of living adjustment, along with a regressive tax cut. So that should give you a flavor for the biases of the Gang of Six, and where their proposal is headed.
|By: David Dayen Friday May 20, 2011 11:45 am|
It’s practically a rite of passage for a labor leader to stress their independence from the Democratic Party. In the end, the alarm bells almost always go off, and labor runs back into the waiting arms of the Democrats. Not to mention that labor is intimately intertwined with the Democratic Party. They have seats on the DNC, fercryinoutloud. So will this time be any different?