class, Economy, Minimum Wage, poverty, Social Problems

Opinion: Double the Federal Minimum Wage. State and local governments are proving that higher minimum-wage standards are good for workers. Congress should take the lesson. By The Editorial Board The editorial board is a group of opinion journalists whose views are informed by expertise, research, debate and certain longstanding values. It is separate from the newsroom. Dec. 30, 2019

Opponents of minimum-wage laws have long argued that companies have only so much money and, if required to pay higher wages, they will employ fewer workers. Now there is evidence that such concerns, never entirely sincere, are greatly overstated. Over the past five years, a wave of increases in state and local minimum-wage standards has pushed the average effective minimum wage in the United States to the highest level on record. The average worker must be paid at least $11.80 an hour — more after inflation than the last peak, in the 1960s, according to an analysis by the economist Ernie Tedeschi.

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Banks, Economy, poverty, Social Problems

Opinion: Changing Rules to Help Bankers and Hurt Poor Neighborhoods. The Community Reinvestment Act needs a renovation. The Trump administration instead is proposing a partial demolition. By The Editorial Board. The editorial board is a group of opinion journalists whose views are informed by expertise, research, debate and certain longstanding values. It is separate from the newsroom. Jan. 10, 2020

Banks don’t like lending in lower-income neighborhoods, even as they profit from deposits taken from those same communities. Since 1977, the Community Reinvestment Act has forced the issue, requiring banks to provide mortgages, small-business loans and other services in all areas where they operate. The current crop of federal banking regulators, picked by President Trump, is now proposing to let banks pump less money into lower-income communities, and even to claim credit for lending that does not benefit those communities. One egregious example: Banks could count loans for improvements to stadiums that happen to sit in poor neighborhoods. Yes, you read that right: Under the proposal, the banks that financed the new sound system at M&T Bank Stadium in Baltimore could claim credit for investing in the community.

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Economy, Gender, Social Problems, Stratification

Women’s Gains in the Work Force Conceal a Problem Jobs traditionally viewed as female still don’t pay well, and still don’t appeal to men. Fixing one of these things would fix the other. By Claire Cain Miller Jan. 21, 2020 American women have just achieved a significant milestone: They hold more payroll jobs than men. But this isn’t entirely good news for workers, whether they’re men or women.

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Economy, inequality, Social Problems, Stratification

Opinion: How the Upper Middle Class Is Really Doing Is it more similar to the top 1 percent or the working class? By David Leonhardt Opinion Columnist Feb. 24, 2019 Since 1980, the incomes of the very rich have grown faster than the economy. The upper middle class has kept pace with the economy, while the middle class and poor have fallen behind.

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class, Economy, inequality, Social Problems, Technology

Tech Is Splitting the U.S. Work Force in Two. A small group of well-educated professionals enjoys rising wages, while most workers toil in low-wage jobs with few chances to advance. Image: Taser assembly at Axon in Scottsdale, Ariz. While some jobs are changing or being eliminated because of automation, many positions at Axon still require the dexterity of human hands. By Eduardo Porter Feb. 4, 2019

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class, Economy, inequality, Social Problems

Opinion: What’s Really Radical? Not Taxing the Rich It’s time to reverse the extreme upward redistribution of the last 40 years. A house is the biggest asset that most families own. If middle-class families can pay an annual tax on their main source of wealth, wealthy families can, too, says David Leonhardt. by David Leonhardt. Opinion Columnist Feb. 3, 2019

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Corporations, Economy, Social Problems, Technology

The Hidden Automation Agenda of the Davos Elite. This year’s World Economic Forum in Davos, Switzerland, where business leaders’ public positions on automation’s impact on workers did not match the views they shared privately. Image: This year’s World Economic Forum in Davos, Switzerland, where business leaders’ public positions on automation’s impact on workers did not match the views they shared privately. By Kevin Roose Jan. 25, 2019

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