Wages make up a large share of income for most U.S. working families, lost wage growth meant sluggish income growth. There was one group where wage growth, and income growth, was substantial: the top 1%, whose wages skyrocketed 182% since 1979
A POLITICO analysis shows that pandemic-era policies reversed the trend toward a widening income gap. The move away from them threatens those gains. Which way will Biden turn?
Workers who are never in a union were projected to earn around $2.1 million their whole careers, while those who were in unions for their whole careers were estimated to make $3.4 million, according to a Cornell University study.
Today’s inflation is driven largely by supply-side constraints, which call for supply-side solutions. Such measures would do as much to tame higher prices as limited increases in interest rates would, and they would not come at the expense of American workers and the broader economy.
Prosecutors’ offices deal in punishment, not healing, prevention or justice.
With plagues, political dysfunction and near-Dickensian economic differences rampant, a Mother Jones editor charts the lives of the super rich, showing the fascinating, otherworldly realm they inhabit—and the insidious ways this realm harms us all.
The upward redistribution of income has cost Americans workers $50 trillion over the past several decades. On average, extreme inequality is costing the median income full-time worker about $42,000 a year.
Apart from filling corporate coffers and the pocketbooks of the 1 percent, the $1.9 trillion cut has put the federal government in a financial straightjacket.
To most Americans, the best marker of a healthy economy will always be a decent-paying, full-time job. An economy only deserves celebrating when people with full-time jobs have rising paychecks. In America today, they don’t.
Moving to a Graduated State Income Tax in Illinois. The state tax system would become fairer, more sustainable, and better for the Illinois economy. All that’s needed is the bipartisan political will.
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