There’s a line in Johnny Paycheck’s 1977 hit song that goes “I’d give the shirt right off my back, if I had the guts to say ... Take this job and shove it, I ain’t working here no more.” In the past year, fast-food, retail, and warehouse workers have shown they do have the guts—but instead of quitting, they’re fighting back. From New York to California they’re taking to the streets. They’re fighting for a living wage, for respect from their bosses, and in some cases, for the right to form a union.
Like so many young Americans, Derek Wetherell is stuck.
At 23 years old, he has a job, but not a career, and little prospect for advancement. He has tens of thousands of dollars in student debt, but no college degree. He says he is more likely to move back in with his parents than to buy a home, and he doesn't know what he will do if his car—a 2001 Chrysler Sebring with well over 100,000 miles—breaks down.
Progressive groups are warning that the Supreme Court may be on the verge of allowing federal candidates to collect multi-million dollar checks from donors.
Speaking to reporters on Monday, attorneys and representatives from the campaign finance watchdog groups Democracy, Public Citizen and Demos all raised the specter of candidates hosting $1 million-a-plate fundraisers in the near future if the Supreme Court strikes down a key provision of campaign finance law.
Why are social justice organizations up in arms about an upcoming U.S. Supreme Court case involving political contribution limits? It might have something to do with America's widening income inequality, which in many ways is being financed by wealthy campaign donors. A ruling in favor of lifting limits on the amount individuals can contribute would allow the wealthiest of the wealthy to control parties in ways that would make the Great Gatsby proud.
Blythe Masters is the most recognizable woman on Wall Street—and arguably its most resilient. At 44, she heads the largest commodities trading operation at the largest bank in the U.S., JPMorgan Chase (JPM). In the mid-1990s she developed and marketed credit derivatives, which rapidly became a new wonder of high finance.
After a marathon hearing that wrapped up in the wee hours of Wednesday morning, the City Council of Richmond, Calif., voted to allow the use of eminent domain to seize underwater mortgages, becoming the first city in the nation to take such a concrete step toward the novel and risky strategy for helping people avoid foreclosure.
After getting the First Amendment supremely wrong in Citizens United, the Supreme Court now faces its next money in politics case. In McCutcheon v. FEC, the challengers are attacking a law that says that no one person can contribute over $123,000 directly to federal candidates, parties, and committees—that’s over twice the average American’s income.
Washington DC needs jobs. When D.C. Mayor Vincent Gray made this point at a press conference this week, he may not have realized he was making a strong case in favor of the Large Retailer Accountability Act.
Paying workers more would lead to lower profits and layoffs for America's biggest corporations, right? Not necessarily.
Critics of a minimum wage hike cite a commonly held belief that forcing low-paying employers such as Wal-Mart to boost compensation would lead to greater economic suffering. Higher labor costs, they argue, would require higher prices, prompting layoffs and more pain.
After decades of seeing their incomes shrink, those at the bottom of the economic ladder are starting to band together and fight back — and it’s one of the most important economic stories of our time.
President Obama met with the nation’s top financial regulators last week, to urge for rulings associated with the Dodd-Frank Wall Street Reform law passed more than three years ago. It was the first time the president convened a sit down with each regulator since 2011.
According to a White House statement, Obama “stressed the need to expeditiously finish implementing the critical remaining portions of Wall Street Reform to ensure we are able to prevent the type of financial harm that lead to the Great Recession from ever happening again.” [...]
Fast food workers in over 50 cities across the nation are striking on Thursday in what organizers are touting as the largest ever strike to hit the industry.
The workers are demanding $15 an hour and the right to unionize, continuing the calls and momentum of a series of strikes that first started in November of 2012.
In the spring of 1968, the Rev. Martin Luther King, Jr. traveled to Memphis, Tennessee, to join sanitation workers seeking better pay, fairer treatment and the right to form a union.
I was with Dr. King as he stood with workers, all African-American, all fighting years of labor repression and wages that relegated them to poverty. Dr. King was assassinated on that trip to Memphis. His death, just as the images of workers carrying signs reading, "I am a man," is forever seared in my memory.
Fifty years after the "dream" of racial equality invoked by Martin Luther King at the March on Washington, the reality is that African-Americans still suffer the most unemployment.
Government statistics show the overall US unemployment rate stood at 7.4 percent in July.
But while whites had a jobless rate of 6.6 percent last month, the rate was nearly double for blacks at 12.6 percent.
By comparison, the Hispanic, or Latino, minority fared better, with 9.1 percent unemployed.
You know the drill — we have a dysfunctional political system and a gridlocked Congress. The House is firmly in the grip of a band of Republican maniacs and the Senate, though technically Democratic, requires a virtually impossible filibuster-proof majority to get anything passed.
So we should just throw up our hands and admit that nothing productive can be done in Washington until we get a Democratic Congress, right?
On the eve of a march to commemorate Dr. Martin Luther King’s “I have a dream” speech, labor and civil rights activists are calling on President Barack Obama to honor King with an executive order that would raise wages for as many as two million workers.
One of the most poignant calls came Wednesday from Alvin Turner, a veteran of the famous 1968 Memphis garbage workers strike. Recalling a recent face-to-face meeting with Obama, Turner said “he told me personally he was working hard for the little man. If he don’t sign, he’ll disappoint me badly.”
The Cato Institute, a libertarian think tank, is pushing the idea that being poor and living on government benefits in America is actually living high on the hog.
When Walmart broke the bad news to shareholders last week about declining same-store sales and cuts to their profit and sales projections, the company offered a glib explanation. "The retail environment was challenging," asserted Walmart Stores President and CEO Michael Duke. Company executives pointed to weather conditions and the January payroll tax increase to justify the disappointing sales, but larger questions about why consumers weren't buying were never addressed.