Daily Digest - August 29: A Rising Minimum Wage Lifts All Boats

Aug 29, 2014Rachel Goldfarb

There will not be a new Daily Digest on Monday, September 1, in observance of Labor Day. The Daily Digest will return on Tuesday, September 2.

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Who Stands to Benefit from San Diego’s Minimum Wage Hike (Voice of San Diego)

There will not be a new Daily Digest on Monday, September 1, in observance of Labor Day. The Daily Digest will return on Tuesday, September 2.

Click here to receive the Daily Digest via email.

Who Stands to Benefit from San Diego’s Minimum Wage Hike (Voice of San Diego)

Lisa Halverstadt speaks to Roosevelt Institute Fellow Annette Bernhardt about her research team's estimate that 172,000 workers could get a raise from San Diego's minimum wage hike.

The Biggest Tax Scam Ever (Rolling Stone)

Tim Dickinson looks at the range of multinational tax avoidance strategies in use today, from inversions to offshoring. It's all legal, he says, but the law itself is broken.

De Blasio Zeroes in on Expanding Living Wage (Capital New York)

New York City's mayor looks to require more businesses, including retail tenants of subsidized developments, to pay a living wage, report Dana Rubinstein and Sally Goldenberg.

Market Basket's Popular CEO Arthur T Goes Rogue and Wins – Now What? (The Guardian)

After months of employee protests on his behalf, Market Basket's former CEO has bought out his cousins to regain control. Jana Kasperkevic says he'll face new challenges from shareholders.

AFL-CIO’s Trumka: Democrats Need New Economic Team in 2016 (WSJ)

The labor union president wants 2016 candidates to avoid economics advisors who have participated in the revolving door of government and Wall Street, reports Eric Morath.

Americans Foresee Unending Economic Doom (Vox)

Danielle Kurtzleben looks at a new study from Rutgers which shows that a growing number of Americans believe the last recession permanently scarred the economy and that government can't help.

Pregnant Women Just Earned More Workplace Rights in Illinois (The Nation)

The new law establishes civil rights protections for pregnant workers, which will help them to stay in the workplace if they want to, writes Michelle Chen.

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Daily Digest - August 28: Read This Before Your Internet Goes Out

Aug 28, 2014Rachel Goldfarb

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Time Warner Cable Internet Outage Affects Millions (Vanity Fair)

Kia Makarechi speaks to Roosevelt Institute Fellow Susan Crawford, who says that lack of competition and oversight leads to problems like yesterday's Internet outage on the East Coast.

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Time Warner Cable Internet Outage Affects Millions (Vanity Fair)

Kia Makarechi speaks to Roosevelt Institute Fellow Susan Crawford, who says that lack of competition and oversight leads to problems like yesterday's Internet outage on the East Coast.

How Obamacare Can End Bloated CEO Pay (Fortune)

A little-known provision in the Affordable Care Act closes the executive performance pay loophole, but just for insurance companies, writes Sarah Anderson.

The Sorry State of Bank Apologies (ProPublica)

Non-specific corporate apologies are becoming de rigueur in settlements with banks, but Jesse Eisinger says these apologies aren't enough to resolve the banks' bad behavior.

The Expanding World of Poverty Capitalism (NYT)

Thomas Edsall defines poverty capitalism as the shifting of the costs of essential government onto the poor, as in offender-funded law enforcement systems in places like Ferguson, MO.

Court Finds FedEx Drivers are Employees, not Independent Contractors (Sacramento Business Journal)

A federal appeals court's ruling on this class-action suit may require FedEx to pay 2,300 drivers millions of dollars in back pay, uniform and truck costs, and more, writes Kathy Robertson.

40 Percent of Restaurant Workers Live in Near-Poverty (MoJo)

Tom Philpott looks at a new report from the Economic Policy Institute on poverty in the restaurant industry, which shows stagnant wages, few benefits, and limited opportunities for advancement.

Caught on Tape: What Mitch McConnell Complained About to a Roomful of Billionaires (The Nation)

In this exclusive, Lauren Windsor reports on a speech Senator McConnell made at a Koch brothers gathering, in which he stated his intent to defund, among other things, Dodd-Frank financial reform.

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Daily Digest - August 27: The Known Unknowns of Unemployment

Aug 27, 2014Rachel Goldfarb

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A New Reason to Question the Official Unemployment Rate (NYT)

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A New Reason to Question the Official Unemployment Rate (NYT)

A new report says that unemployment data has become less accurate over the past 20 years, in part because of declining survey response rates, writes David Leonhardt.

Objecting to Austerity, French Style (New Yorker)

John Cassidy looks at the implosion of the French government this week, as three ministers, including the economy minister, have been pushed out for their objection to austerity policies.

Money for Nothing: Mincome Experiment Could Pay Dividends 40 Years On (AJAM)

Recently analyzed data from a 1970s Canadian experiment in guaranteed basic income shows far-reaching benefits in health and education, writes Benjamin Shingler.

Companies Say ‘No Way’ to ‘Say on Pay’ (WSJ)

Emily Chasan examines the companies that have repeatedly failed Say-on-Pay shareholder votes on their executives' pay packages, and what they have in common.

  • Roosevelt Take: Roosevelt Institute Fellow Susan Holmberg looks at how Say-on-Pay can curb sky-high executive compensation.

SEIU Wins Election To Represent Minnesota Home Care Workers (HuffPo)

Dave Jamieson says that yesterday's vote, which created Minnesota's largest public-sector bargaining unit in history, shows that unions are not letting Harris v. Quinn slow organizing.

Burger King’s Supremely American Habit (MSNBC)

Timothy Noah points out that Burger King, which might be planning an inversion to avoid U.S. corporate income taxes, already pushes as many costs as possible off its parent company.

Mayor Garcetti Pitching New Minimum Wage Plan to Business Groups (LA Times)

Catherine Saillant reports on business opposition to the Los Angeles mayor's plan, which would raise the city's minimum wage to $13.50 over three years and then tie it to local inflation.

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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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Sarah Burd-Sharps: Without Public Investment, the U.S. Will Fall Into Chaos

Aug 8, 2014

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Measure of America's Sarah Burd-Sharps looks at the sweeping consequences of the government's failure to invest in the future.

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Measure of America's Sarah Burd-Sharps looks at the sweeping consequences of the government's failure to invest in the future.

Sarah Burd-Sharps, Co-Director of Measure of America, speculates on the consequences of declining public investment in infrastructure, regulation, education, and more. With government abdicating its basic responsibilities, the U.S. will face increasing chaos -- collapsing bridges, food contamination outbreaks, falling elevators, and unemployed teenagers. Burd-Sharps imagines a moderate political wing moved to act by the rising economic costs of under-investment.

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Robert Litan: As Tech Advances, Big Business Will Reap the Benefits

Aug 7, 2014

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Brookings' Robert Litan presents the evidence that incumbent firms will consume an increasingly large piece of the economic pie.

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Brookings' Robert Litan presents the evidence that incumbent firms will consume an increasingly large piece of the economic pie.

Robert Litan, Senior Fellow at the Brookings Institution, speculates that the benefits from new technology could be captured by incumbent firms in the short term, to the detriment of business dynamism. Supporting that speculation, he observes two present-day business trends: first, a rising share of national income is going to big incumbent firms; second, firms older than 15 years (incumbents) comprise an increasingly large share of businesses overall. In short, evidence suggests older firms are increasingly dominant in the economy.  

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Dane Stangler: Changing Demographics and Funding Strategies Will Expand Entrepreneurship

Aug 6, 2014

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Dane Stangler of the Kauffman Foundation predicts that the entrepreneur class will become more diverse as a younger population makes use of new funding platforms.

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Dane Stangler of the Kauffman Foundation predicts that the entrepreneur class will become more diverse as a younger population makes use of new funding platforms.

By 2040, demographic trends will drive a flourishing of new kinds of entrepreneurial activities, speculated Dane Stangler, Vice President of Research and Policy at the Kauffman Foundation. We will see a bulge in the 20-40 age demographic -- the key entrepreneurial age. But most importantly, new platforms -- like crowd-funding and re-localized production -- will allow for the diversification of entrepreneurship. For the first time, this will allow Americans from a wide range of backgrounds to build new businesses.  

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Amy Liu: Will Syracuse Become New York's Second Economic Capital?

Aug 5, 2014

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Brookings senior fellow Amy Liu posits that municipal goverments will take the lead on innovation and investment.

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, Brookings senior fellow Amy Liu posits that municipal goverments will take the lead on innovation and investment.

By 2040, as predicted, the federal government will be largely incapable of funding effective or innovative policies, speculates Amy Liu, Co-Director of the Metropolitan Policy Program at Brookings. Metropolitan areas will pick up the slack. They will reverse the race-to-the-bottom policies that aimed to offer companies the least explensive place to do business, and will instead focus on providing business with productive employees and critical infrastructure. The biggest problem could be a potential divergence in the success of metropolitan areas and expanding geographic inequality.

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Gar Alperovitz: The Worker-Owned Small Business Revolution

Aug 4, 2014

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, political economist Gar Alperovitz speculates on what could happen if workers claim power over small businesses.

The Next American Economy project brought together 30 experts from various disciplines to envision tomorrow's economic and political challenges and develop today's solutions. Their assignment: be bold, and leave the conventional wisdom -- and their own opinions -- behind. In today's video, political economist Gar Alperovitz speculates on what could happen if workers claim power over small businesses.

Gar Alperovitz, Professor of Political Economy at the University of Maryland, describes the potential for a future economic revolution: starting in Cleveland, small businesses will democratize ownership. From there, the model will spread to cities across the country. As MBAs begin to understand that productivity in worker-owned companies is higher than in traditional firms, the movement will continue to grow.

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