The amount of money employers had to pay because they were found guilty of wage theft is nearly three times greater than all the money stolen in robberies, according to a new report from the Economic Policy Institute (EPI).
That $50 billion figure dwarfs the $14 billion taken from victims of robberies, burglaries, larcenies, and car thefts in 2012. That’s less than a third of the cost of wage theft, according to EPI’s estimations.
The NLRB needs to be reformed for the post labour union era. It should be the advocate for those who are robbed by their employers and it isn’t.
its extraordinary blindness to how real life economic power relations work is reminiscent of the magazine’s beginnings in the 19th century, when it fulminated at the very idea that the British government should do anything about the Irish famine that was happening on its doorstep. After all, it was the peasants’ own fault that they were starving.
Laissez faire is often used as an excuse to blame victim.
Regression toward the mean is the likely explantation. The slowness of the recovery may be due to lack of targeted stimulus but everything else looks like normal growth.
We’ve been told repeatedly that the United States has the highest corporate tax rate in the developed world — 35 percent — which is higher than the nominal tax rates in places like Ireland (12.5 percent), Britain (21 percent) and the Netherlands (25 percent) and the 24.1 percent average rate of all countries that are part of the Organization for Economic Cooperation and Development.
All of that’s true, but Professor Kleinbard contends that most United States multinational companies don’t pay anywhere near 35 percent. Companies paid, on average, 12.6 percent,
Cutting those rates will not get companies to bring more money into the US economy. They would still keep the money were it could be moved more easily. And that is in commonwealth nations that can easily do business with London banks.
a study published in June suggests that the things that really make the difference — between prison and college, success and failure, sometimes even life and death — are money and family. … They found that a child’s fate is in many ways fixed at birth — determined by family strength and the parents’ financial status. The kids who got a better start — because their parents were married and working — ended up better off. Most of the poor kids from single-parent families stayed poor.
At this point this a typical story about how poverty self perpetuates. Bad options, bad choices leading to bad results.
Then I got to this part:
The researchers found that more affluent white men in the study reported the highest frequency of drug abuse and binge drinking, yet they still had the most upward mobility.
Great options, bad choices, great results. How do you explain that?
According to George Mason University’s Mercatus Center,
calculated the Competitive Enterprise Institute
Mr. Koch failed to mention that he funds the people he is quoting. I for one am not surprised the people he pays to reach the conclusions he supports are in total agreement with him.
I think it’s debatable if stock price is the best way to judge CEO performance, let alone the only way, but this is a response to a really odd claim from Businessweek that attempts to link the two.
And what about Shadowstats, which claims that inflation is much higher than the government lets on? A subscription costs $175 — the same as 8 years ago.
Prices go up? Inflation. Prices go down? Supply and demand.