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CEO Performance Pay is Bad for Everyone Except CEOs (Next New Deal)
Roosevelt Institute Senior Fellow Richard Kirsch agrees with William Lazonick: rewarding workers and taxpayers for a firm's success would be better for the economy than soaring CEO pay.
- Roosevelt Take: Lazonick's new white paper, "Taking Stock: Why Executive Pay Results in an Unstable and Inequitable Economy," looks at how CEOs enrich themselves at the cost of innovation and job creation.
Walmart Slashed Tax Bill By Giving Top Execs Big Bonuses (Forbes)
A new report points out that Walmart cut its tax bill by $104 million through deductible CEO "performance pay," writes Kelly Phillips Erb. Closing that loophole would save taxpayers billions.
- Roosevelt Take: Roosevelt Institute Fellow and Director of Research Sue Holmberg and Campus Network alumna Lydia Austin explain the need to close the performance pay loophole in their white paper.
Workers' Wages Sink as 'Domestic Outsourcing' Grows (NBC News)
Roosevelt Institute Fellow Annette Bernhardt tells Martha C. White that it's hard to quantify how many people have been forced out of direct employment to become contract workers, usually with lower wages.
Growth Has Been Good for Decades. So Why Hasn’t Poverty Declined? (NYT)
The number of hours low-income workers put in has increased in the last few decades, but their pay hasn't, writes Neil Irwin. Economic growth doesn't reduce poverty unless it lift wages too.
Finally a Chance for Facts to Decide (NYT)
Seattle's newly passed $15-per-hour minimum wage gives economists a chance to see what happens, says Arindrajit Dube, and use its real successes or failures to help rethink national policy.
Could Minimum Wage Help Save Senate for Dems? (WaPo)
Minimum wage ballot measures in battleground states could boost Democrats' turnout in 2014, says Greg Sargent, and Arkansas Democrats are fighting to put one such initiative before voters.
If You're Born Poor, You'll Probably Stay That Way (MoJo)
Stephanie Mencimer reports on the results of a 30-year study of poverty in Baltimore from Johns Hopkins, which found that family was the strongest determining factor of a low-income child's future.
- Roosevelt Take: On July 10 in Washington, DC, join the Roosevelt Institute, The Century Foundation, and the Academic Pediatric Association for "Inequality Begins at Birth: Child Poverty in America." The conference will be live-streamed.