Daily Digest - August 21: Time to Consider the Mortgage Deduction?

Aug 21, 2014Rachel Goldfarb

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How a Widely Beloved Tax Deduction Really Just Benefits the Well-Off and Exacerbates Inequality (TAP)

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How a Widely Beloved Tax Deduction Really Just Benefits the Well-Off and Exacerbates Inequality (TAP)

The mortgage interest deduction primarily benefits those who make at least $100,000 a year, and dwarfs funding for housing programs for the poor, writes Alex Ulam.

  • Roosevelt Take: In his latest white paper on tax reform, Roosevelt Institute Chief Economist Joseph Stiglitz suggests changes to the mortgage interest deduction that would make it more equitable.

What Would Real Economic Justice Look Like in Ferguson? (The Nation)

Michelle Chen reports on organized labor's involvement in Ferguson, MO, where a millennial labor group called Future Fighters is asking protesters want they want their community to look like.

Fed Dissenters Increasingly Vocal About Inflation Fears (NYT)

The newly released minutes from the Federal Reserve's July meeting show that some Fed officials feel the central bank has done all it can to improve the economy, writes Binyamin Appelbaum.

CEOs are Dumb When it Comes to This (MarketWatch)

Simon Constable reports on a new study that shows that stock option compensation isn't really considered in dollars: CEOs tend to get the same number of options regardless of the stock's value.

Why Bank of America Probably Won’t End Up Actually Paying US$17B in Mortgage Securities Settlement (Financial Post)

Consumer relief as negotiated in this settlement and others rarely cost the banks much at all, says Jeff Horwitz. But with few other sources of consumer relief, advocates welcome this one.

The Latest Attack on Labor, From The Group That Brought Us ‘Harris v. Quinn’ (In These Times)

Moshe Marvit explains the National Right to Work Committee's latest tactic, which aims to end exclusive representation in public sector unions and weaken collective bargaining.

New on Next New Deal

Mean and Lean Local Government

In his video speculation for the Next American Economy project, Stefaan Verlhurst, Co-Founder of GovLab, projects how municipal governments might shift tactics to take advantage of broader resources.

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Daily Digest - August 20: Inequality Among Roots of Ferguson Unrest

Aug 20, 2014Rachel Goldfarb

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Ferguson's Race Injustices Have Their Roots in Economic Inequality (The Guardian)

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Ferguson's Race Injustices Have Their Roots in Economic Inequality (The Guardian)

Suzanne McGee ties the situation in Ferguson, MO to the severe economic inequality facing the Black community in the U.S., which she says limits Black access to political power as well.

Meet the Ordinary People Who Are Mobilizing Around Monetary Policy (WaPo)

Activist groups concerned with democratizing the discussion of monetary policy are sending low-wage workers to speak a Federal Reserve conference in Wyoming. Ylan Q. Mui reports.

The Tax Dodge That Has Plagued the U.S. for More Than a Decade (The Atlantic)

Joe Pinsker looks at the history of companies looking to reincorporate abroad to dodge U.S. corporate income taxes, and explains how the process has changed (and yet not) in the past decade.

  • Roosevelt Take: Roosevelt Institute Chief Economist Joseph Stiglitz proposes a full slate of corporate income tax reforms in his latest white paper.

Lagging Demand, Not Unemployability, Is Why Long-term Unemployment Remains So High (EPI)

In a new report, Josh Bivens and Heidi Shierholz argue that long-term unemployment is still a component of cyclical weakness in the economy from the recession, rather than a structural shut-out.

How to Save the Net: Don’t Give In to Big ISPs (Wired)

Netflix CEO Reed Hastings calls on the Federal Communications Commission to expand its focus to regulate the relationships between companies like his and the Internet service providers.

OSHA fines company $1M for violating truckers' hours-of-service rule (The Hill)

The Occupational Safety and Health Administration's fine is about protecting workers and the public, reports Tim Devaney. Trucker rest rules are in the limelight after high-profile crashes.

San Diego Defies Mayor, Raises Minimum Wage (CNN Money)

Katie Lobosco reports that the city council overturned the mayor's veto, approving a gradual minimum wage hike that ties the wage to inflation, as well as paid sick leave.

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Daily Digest - August 19: With Inequality, It's Women and Children First

Aug 19, 2014Rachel Goldfarb

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Among the Poor, Women Feel Inequality More Deeply (NYT)

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Among the Poor, Women Feel Inequality More Deeply (NYT)

The burden of inequality falls more heavily on poor women, says Patricia Cohen, because they are more likely to be raising a family and get little support for the "second shift" of household management.

Blame Employers, Not Workers, for Any Skills Gap, Economist Says (WSJ)

Josh Zombrun looks at a new working paper from a University of Pennsylvania economist, which argues that employers who complain about lack of skills are accountable for refusing to provide training.

The Hunger Crisis in America’s Universities (MSNBC)

Ned Resnikoff reports on how colleges across the country are tackling rising food insecurity. Many are looking to Michigan State University, home of an established campus food pantry, for guidance.

A Co-op State of Mind (In These Times)

Ajowa Nzinga Ifateyo looks at the rise of worker cooperatives in New York City in light of the City Council's new $1.2 million initiative to support and grow such enterprises.

What Does the Fed Have to do with Social Security? Plenty (AJAM)

Dean Baker notes that Federal Reserve policy can influence unemployment rates, and when more people work, especially in low- and middle- wage jobs, Social Security revenues increase.

How Outdated Parking Laws Price Families Out of the City (CityLab)

A-P Hurd argues that requiring developers to build parking lifts the costs of housing out of the affordable range for most families. Hurd looks at a more family-friendly urban housing model.

New on Next New Deal

Curbing Campus Sexual Assault is Not About the Money

Campus Network's Hannah Zhang responds to critics of the Campus Accountability and Safety Act who call the bill's fines outsized to the problem of sexual assault on campuses.

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Daily Digest - August 18: Looking for Strong Statements on Ferguson

Aug 18, 2014Rachel Goldfarb

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Did Obama’s Response to Ferguson Fall Short? (Melissa Harris-Perry)

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Did Obama’s Response to Ferguson Fall Short? (Melissa Harris-Perry)

Roosevelt Institute Fellow Dorian Warren questions why President Obama has avoided unequivocal language to condemn the police state in Ferguson. His segment begins at 6:40.

Why the Liberal Love for Rand Paul is Wrong (MSNBC)

Senator Paul blames big government for what he calls the "erosion" of Black civil liberties, but Dorian Warren counters that local governments do plenty to earn the distrust of the Black community.

Phony Capitalism (Harper's Magazine)

In this excerpt from his recent white paper, Roosevelt Institute Chief Economist Joseph Stiglitz suggests better tax policies could lead to a less economically stratified economy.

‘Slack’ in Job Market Hurts Wage Growth, Chicago Fed Paper Says (WSJ)

The paper notes that the slack labor market, with so many unemployed, has an even stronger impact on wage growth for those whose wages are already low, reports Pedro da Costa.

Paul Ryan’s Welfare Reform Ideas Are Even Worse Than You Think (The Nation)

Michelle Chen says that Ryan's proposal for welfare reform marks poor people as the problem in need of fixing, rather than the economic and social structures that hold up poverty.

20 Tax Dodgers: $240 Million for CEOs, Big Loss for the American People (The Fine Print)

Scott Klinger ties tax-deductible CEO pay to a USA Today list of companies that paid no federal income taxes last quarter, and says the combination highlights just how broken our tax system is today.

New on Next New Deal

Rioting Mainly for Fun and Profit: The Neoconservative Origins of Our Police Problem

Roosevelt Institute Fellow Mike Konczal ties increased use of police force to neoconservative notions of the "urban crisis" as a failure of liberalism to be targeted with harsh enforcement.

Suspensions are Keeping Students of Color from their Diplomas

Roosevelt Institute Summer Academy Fellow Bassem El Remesh argues that Minnesota needs to adopt stricter rules for when suspensions are permitted due to the impact on graduation rates.

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Daily Digest - August 15: Social Security at 79

Aug 15, 2014Rachel Goldfarb

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Social Security Marks 79th Birthday with Declining Service (WaPo)

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Social Security Marks 79th Birthday with Declining Service (WaPo)

Joe Davidson says that the Social Security Administration continues to aim for providing "the best possible service for the American public," but budget and staffing cuts have hampered that goal.

  • Roosevelt Take: Campus Network member Brian Lamberta calls for eliminating the cap on Social Security taxes to ensure the program's sustainability through Millennials' retirements and beyond.

Starbucks to Revise Policies to End Irregular Schedules for Its 130,000 Baristas (NYT)

In response to an article in The New York Times about a single mother's struggle with erratic scheduling, Starbucks plans to revise its scheduling practices to improve worker stability, writes Jodi Kantor.

Why the Minimum Wage Issue is a Win-Win for Obama (MSNBC)

Timothy Noah explains that if Congress won't pass a minimum wage increase, then Democrats have an easy wedge issue for the 2014 elections, which is especially important as they fight to hold the Senate.

Education Alone Is Not the Answer to Income Inequality and Slow Recovery (TAP)

Many economists are emphasizing education as a way to spread the economic recovery beyond the 1 percent, but Robert Kuttner argues for a job-creating solution instead: infrastructure investment.

It's Time to Pay Prisoners the Minimum Wage (TNR)

Josh Kovensky argues that using prison labor as a cost-cutting measure is ineffective and creates unexpected costs, particularly relating to the dependents of prisoners.

When Your Employer Doesn’t Consider You an Employee (AJAM)

The recently proposed Payroll Fraud Prevention Act would help balance power in the workplace by ensuring workers know their rights as employees or contractors, writes Malcolm Harris.

Why it’s No Easy Task to Determine What the GSEs Should Charge for Their Guarantee (MetroTrends Blog)

Laurie Goodman, Ellen Seidman, Jim Parrott, and Jun Zhu lay out the difficulties in determining what fees Fannie Mae and Freddie Mac should charge for guaranteeing mortgage-backed securities.

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Daily Digest - August 14: As Maine Goes, So Goes the Internet

Aug 14, 2014Rachel Goldfarb

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Racial Discrimination Alive and Well in Reproductive Healthcare (The Hill)

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Racial Discrimination Alive and Well in Reproductive Healthcare (The Hill)

Roosevelt Institute Fellow Andrea Flynn looks at racial disparities in access to health care in the U.S. in light of the U.N.'s periodic review of countries' work to dismantle racism.

How Maine Saved the Internet (Bloomberg View)

Roosevelt Institute Fellow Susan Crawford explains how a town in Maine with a population of only 3,321 got a reasonably priced, high-speed fiber optic network.

What’s Lost in the Market Basket Stories (Working Economics)

Workers should not have to rely on a benevolent CEO to ensure they have "good" jobs, writes David Cooper. Better labor laws would make sure everyone had those benefits.

Why Is it So Controversial to Help Poor Mothers Afford Diapers? (The Nation)

Bryce Covert calls out those who see diaper subsidy programs as "controversial," because these programs help children and working families to thrive. They should be a no-brainer, she says.

Working Anything but 9 to 5 (NYT)

Jodi Kantor looks at one mother's struggle with automated scheduling software that threw her and her child's lives into chaos, as she worked unpredictable and sometimes unreasonable hours.

Virgin America Flight Attendants Vote To Join Union (HuffPo)

One worker who voted against unionization in 2011 explained that since the last vote, grievances continued unaddressed, leading to yesterday's decisive win, reports Dave Jamieson.

Silicon Valley Is Ruining "Sharing" for Everybody (TNR)

Noam Scheiber decries the Silicon Valley definition of "sharing," which is more along the lines of under-regulated economic activity that takes advantage of users' skills, possessions, or property.

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Daily Digest - August 13: Working Without a Net in the Gig Economy

Aug 13, 2014Rachel Goldfarb

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America's Social Safety Net is Failing Workers in the 'Gig Economy' (The Week)

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America's Social Safety Net is Failing Workers in the 'Gig Economy' (The Week)

Particularly in today's economy of short-term gigs, contract work, and other forms of precarious employment, Sarah Jaffe says the current system of unemployment benefits isn't cutting it.

  • Roosevelt Take: Roosevelt Institute | Campus Network Operations Director Lydia Bowers looks at some of the other labor protections missing in the gig economy.

By Any Measure, The Job Market Is Getting Better (FiveThirtyEight)

No matter how he counts the unemployed, Ben Casselman finds the same pattern: the ratio of job-seekers to available jobs has dropped significantly, almost to pre-recession levels.

Graphic: Unpaid Interns Have Few Legal Rights (Bloomberg Businessweek)

In this flowchart, Josh Eidelson lays out the scant legal protections afforded interns throughout the country, with details about relevant court cases and state-by-state variations.

Yellen Resolved to Avoid Raising Rates Too Soon, Fearing Downturn (Reuters)

Howard Schneider and Jonathan Spicer report that Federal Reserve insiders say Janet Yellen is showing extreme caution on raising interest rates, because inflation is easier to fight than recessions.

Another Argument Against the Medicaid Expansion Just Got Weaker (WaPo)

Jason Millman looks at the history of Medicaid funding, and finds that states don't really have to worry about the federal government backing out of its share of expansion funding.

  • Roosevelt Take: Roosevelt Institute Fellow Andrea Flynn ties refusal to expand Medicaid to the U.S.'s high and increasing maternal mortality rate.

The Jobs Added In Today’s Economy Pay A Quarter Less Than The Ones We Lost In The Recession (ThinkProgress)

Bryce Covert looks at a new report from the U.S. Council of Mayors, which shows that the jobs added since the recession pay less largely due to the sectors in which jobs were lost and regained.

Labor and Small Businesses Team up on California Franchising Law (MSNBC)

The proposed law would make it harder to terminate franchise agreements. Ned Resnikoff says labor groups hope franchisees will treat workers better with less franchisor influence and interference.

New on Next New Deal

The Inconvenient Truth About Ineqality

In his video speculation for the Next American Economy project, Lenny Mendonca says a "vested set of interests" will keep the issues raised in Piketty's Capital out of real policy debates.

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Daily Digest - August 12: What Happens When the Workers Become the Owners?

Aug 12, 2014Rachel Goldfarb

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Is Worker Ownership a Way Forward for Market Basket? (Truthout)

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Is Worker Ownership a Way Forward for Market Basket? (Truthout)

Gar Alperovitz says the current protests at Market Basket are a sign of the desire for community and worker-friendly businesses, which he suggests are easier to achieve with employee ownership.

Surprise! North Carolina Cuts to Jobless Benefits Did Not Help Workers (TAP)

Valerie Wilson lays out the data, which shows that cutting the duration and amount of unemployment benefits did not magically improve the job market in North Carolina.

New York Prosecutors Charge Payday Lenders With Usury (NYT)

State prosecutors charged a group of lenders incorporated across the country with shared (and obscured) ownership of charging illegal interest rates to New Yorkers, reports Jessica Silver-Greenberg.

Give the President (and Yourself) a Break (U.S. News & World Report)

Instead of griping about the President's vacation, lawmakers should work to ensure that all Americans get paid vacation time and are able to use it, writes Pat Garofalo.

Unions Team Up With Fast-Food Owners (Bloomberg Businessweek)

Patrick Clark looks at the uneasy alliance between fast food franchisees and labor unions as they push for fairer franchising laws in California, which unions hope would translate into better working conditions.

It Matters How Rich the Rich Are (Policy Shop)

Matt Bruenig says that we must know how rich the rich are in order to fight poverty, since the distribution of wealth creates poverty. He also asks how we would know if policy is working without that data.

How Student Debt Crushes Your Chances of Buying a Home (WaPo)

Dina ElBoghdady looks at a new study that lays out the complex ways student debt interacts with homeownership, including a close look at total amount of debt and size of payments.

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Daily Digest - August 11: Big Business's Frenemy in the White House

Aug 11, 2014Rachel Goldfarb

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Your Call: The U.S.-Africa Summit and Corporate Taxes (KALW)

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Your Call: The U.S.-Africa Summit and Corporate Taxes (KALW)

Roosevelt Institute Fellow Mike Konczal discusses President Obama's interview with The Economist, and explains the administration's relationship with big business. His segment begins at 34:00.

Libertarian Fantasies (NYT)

Paul Krugman says that the libertarian vision of society bears little resemblance to reality, and references Mike Konczal's recent piece on libertarians and basic guaranteed income as an example.

Paul Ryan's Magical Poverty Tour (AJAM)

Susan Greenbaum points to an existing welfare block grant – the Temporary Assistance for Needy Families program – as proof that Ryan's plan would not serve enough of the eligible families.

Franchise Association Sues Over Seattle’s $15 Wage (MSNBC)

The law requires large businesses, including franchisees, to raise wages faster than smaller ones. Franchisees claims this discriminates against their business model, reports Ned Resnikoff.

Decline in 'Slack' Helps Fed Gauge Recovery (WSJ)

Pedro da Costa explains how the gap between economic resources we have and those that we use, particularly in the labor market, is influencing Federal Reserve decisions about interest rates.

Fed's Fischer Calls U.S. and Global Recoveries Disappointing (Reuters)

Howard Schneider reports on Federal Reserve Vice Chair Stanley Fischer's concerns regarding how central banks must respond to the possibility of permanently slowed growth post-recession.

‘Eat Your Vegetables’ Is Easier for Low-Income Mothers Who Get Help (Pacific Standard)

A new study shows financial incentives at farmers' markets do work to increase vegetable consumption, writes Avital Andrews, which makes a strong case for government nutrition incentives.

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Daily Digest - August 8: The Man with the Misguided Anti-Poverty Plan

Aug 8, 2014Rachel Goldfarb

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Paul Ryan’s Magical Thinking (The Baffler)

Paul Ryan's belief that poverty is rooted in personal failure isn't the only problem with his anti-poverty plan, writes Ned Resnikoff. It's also impractical to implement and too easily abused.

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Paul Ryan’s Magical Thinking (The Baffler)

Paul Ryan's belief that poverty is rooted in personal failure isn't the only problem with his anti-poverty plan, writes Ned Resnikoff. It's also impractical to implement and too easily abused.

An Interview With the President (The Economist)

While discussing corporate responsibility in this wide-ranging interview, President Obama points out that companies profess to care about social issues, but only lobby for their tax breaks.

Let's Do It! Let's Bring Back Earmarks! (HuffPo)

Ending earmarks has done nothing to reduce American cynicism about government's motives, and has contributed to congressional gridlock, writes Jason Linkins.

When U.S. Companies Skip the Country to Dodge Taxes, Their Shareholders Can Foot the Bill (Quartz)

Since shareholders are hit with a capital gains tax bill when companies use inversion (merging with a foreign company) to avoid taxes, Tim Fernholz says raising those rates could slow the problem.

These 7 Charts Show Why the Rent Is Too Damn High (MoJo)

Erika Eichelberger and AJ Vicens lay out the data explaining shifts in rental housing. They say that reducing government's role in housing finance could direct funds toward affordable rental housing.

New on Next New Deal

Without Public Investment, the U.S. Will Fall Into Chaos

In her video speculation for the Next American Economy project, Sarah Burd-Sharps, Co-Director of Measure for America, predicts that fiscal moderates will push public investment out of fear of a more costly future.

The Pragmatic Libertarian Case for a Basic Income Doesn't Add Up

Roosevelt Institute Fellow Mike Konczal says that Matt Zwolinski's case for a basic income guarantee makes faulty assumptions about what government is already providing through welfare.

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