July 29, 2013
Resentment Of Low Wage Workers
You can consider this an addendum to my earlier article titled (“Tyranny Of Self-Interested Wealth“).
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June 14, 2013
CHART: Social Security Average Wage Index vs. CEO Total Compensation Average
The Social Security Administration computes an annual “Average Wage Index” to ensure a “worker’s future benefits reflect the general rise in the standard of living that occurred during his or her working lifetime.” This index is based on “wages subject to Federal income taxes and contributions to deferred compensation plans.”
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December 12, 2012
Fact of the Day: Workers In ‘Right-To-Work’ States Earn Average Of $1500 Less
According to a white paper by the Economic Policy Institute, (“Right-to-Work 101“), union and non-union workers in states that have right-to-work laws earn an average of $1500 less per year.
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November 29, 2012
Eliot Spitzer – Number of the Day: Costco Economy Or Sam’s Club Economy?
In a recent article, Robert Reich told us the tale of two economies.
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November 24, 2012
Walmart Is The Corporate Embodiment Of America’s Growing Inequality
I have a secret to reveal. I used to regularly shop at Walmart. I live in the outer stretches of Philadelphia’s western suburbs, and Walmart happened to be the closest place to go food shopping. I was never enthusiastic about shopping at Walmart, and as my social and political views evolved, I grew even more uneasy with contributing my money to a company in opposition to my values. So nearly three years ago I stopped food shopping at Walmart, and in fact, I don’t think I’ve stepped foot inside a Walmart since then.
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November 21, 2012
Fact of the Day: The Social Security Wage Cap For 2013 Is $113,700
What is the Social Security “wage cap”? It’s the maximum income level taxed at the 6.2% rate for Social Security benefits. All income above the cap ($113,700 in 2013) is free and clear of Social Security (payroll) taxes. Yes, you read that correctly. All income above the wage cap is exempt from Social Security tax. It’s safe to say this is quite a regressive tax.
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July 31, 2012
Only the ‘One Percent’ and their sympathizers oppose raising the minimum wage
I reported on Friday that over 100 House Democrats are proposing a raise in the minimum wage from $7.25 to $9.80 over the next 3 years, and then tie it to inflation after that. We know it polls high, so who could possibly be against raising the minimum wage? Could it be those noble and patriotic business owners? OK, maybe it’s not all of them but it’s safe to say most of the opposition to raising the minimum wage is comes from the “one percent” and their sympathizers in congress, otherwise known as the Republican Party.
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