Equal pay for equal work? We still haven’t arrived at that destination. Decent pay that reflects the dignity of all who labor? In today’s America, we’ve barely even begun that journey, as suggests a deeper look into the controversy over the compensation for GM’s first female CEO.
Those Americans struggling against poverty in the 1960s faced plenty of obstacles. Americans today may face even more. A half-century ago, after all, America’s wealthiest had nowhere near the chokehold on the nation’s political system that they hold today.
In the year ahead, the struggle against America’s chronic — and growing — income inequality just might jump-start. And one spark may come from Maryland’s St. Mary’s College campus, where activists are working to limit the top campus paycheck to 10 times the lowest.
Making the market “decisive” means that the Chinese government has decided to place profits before people — and even before that previously invincible talisman, economic growth.
Americans are gaining, ever so slowly, a more accurate picture of just how wide the gap has stretched between the nation’s most fabulously privileged and everyone else. New data from Social Security statisticians are helping fill in the holes. But a full picture remains elusive.
This year’s fast GDP growth underlines one of the great myths of economic statistics: the myth that growth benefits everyone, or at least most people.
A tiny tax on global personal wealth over $1 million could ensure that no child anywhere has to live in extreme poverty. That’s the takeaway suggested by the data in new reports on wealth and income distribution from the Credit Suisse Research Institute and the World Bank.
The exceedingly comfortable who sit in America’s richest 1 percent have nearly fully regained the outsized share of the nation’s income they held just before the economy cratered five years ago. So report economists Emmanuel Saez and Thomas Piketty, based on an analysis of IRS data.
Is $15 an hour really a fair wage for serving fast food? Is it reasonable? Is it affordable? In a word: YES.
The top 0.5% of Americans are about 1.5 million people. And by definition they’re the 1.5 million richest and most powerful people in the country.