BOSTON, NEW YORK, and WASHINGTON, D.C. – Today, voting rights advocates announced a settlement with the Massachusetts Department of Transitional Assistance (DTA) that will ensure that hundreds of thousands of eligible Massachusetts citizens are provided opportunities to register to vote in compliance with the National Voter Registration Act (NVRA). In light of the settlement, the parties have jointly requested that U.S. District Court Judge Denise J.
Yesterday, President Obama said, in a speech at the City Club of Cleveland, “In Australia, and some other countries, there's mandatory voting. It would be transformative if everybody voted." Obama is right to point to voting as a mechanism to fight elite domination of politics.
Policies like this would incent states to return to an era when college could be funded through a summer job, part-time employment, and maybe modest savings when available, for the largest and most diverse generation of students in our history.
What does the minimum wage really buy a full-time worker? Not a two-bedroom apartment, anywhere in the United States, according the National Low Income Housing Coalition. This study uses the minimum wage for each state, and the Fair Market Price of apartments in each state (which is below the average rent). It bases affordability on the renter paying no more than 30% of their wages on rent, allowing for food and other living costs to be taken into consideration.
(New York, NY) – Though much research has been devoted to how public policy choices such as increasing the minimum wage can address economic disparities, there has been no systematic analysis of the types of public policies that offer the most potential for reducing the racial wealth gap.
There’s a lot going down with policing these days. The flurry of action this week included an interim report from the President’s Task Force on 21st Century Policing. It bears both good and bad news.
One weakness in the report is overarching and unavoidable: the federal government is limited in the actions it can take to address policing because policing is largely within the control of the states; much of what is recommended is ultimately up to the discretion of local law enforcement agencies.
The talk around Wall Street is that profits at the trading desks of the big banks are down and that regulations are to blame.
There may be some truth to that, at least to the extent that transparency rules have deterred some price gouging. We should be careful about reading too much into the effects of regulation, though. The banks want to spin a story that regulations have forced them to tighten belts and avoid risks. They certainly do not want further regulation and would love nothing better than to roll back regulations that exist.
(New York, NY) – Earlier this week, President Obama directed the Department of Labor to begin the rulemaking process for a fiduciary rule, a new regulation that would require financial advisors and brokers to act in the best interest of people saving for retirement. In the new explainer Why the Fiduciary Rule Matters, Demos Senior Policy Analyst Robert Hiltonsmith finds that this new regulation could save Americans nearly $25 billion from lower fees and translate into an additional $60 billion in returns.
Inequality is growing because the increased wealth of the wealthiest no longer spawns income opportunities for the less well-off households and may actually diminish them.
In response to Walmart's announcement to raise the wage for 500,000 employees, Demos Senior Policy Analyst Catherine Ruetschlin issued the following statement:
It’s early, but arguably the most important paper of the year has already been released. The author, Michael Jay Barber, finds persuasive evidence that those who donate more than $200 (.22% of the population in 2014), wield more influence over our political system than anyone else.
Last week’s New York Times reported that the Hillary Clinton campaign has tapped more than 200 experts to solve a problem: how to address the public’s anger over income and wealth inequality without “overly vilifying the wealthy.” We are left to ponder whether the campaign might vilify the wealthy some, but not too much.
Today, citing clear evidence that the State of California is violating its federally-mandated responsibility to offer California drivers and ID card holders the opportunity to register to vote, attorneys from Demos, Project Vote, ACLU Foundation of San Diego and Imperial Counties, and the global law firm Morrison & Foerster sent a pre-litigation notice letter to the California Secretary of State on behalf of the League of Women Voters of California, ACCE Institute, California Common Cause, the National Council of La Raza, and several individual California citizens.
Eric Holder and his team announced a $1.4 billion settlement with Standard & Poor’s regarding its ratings of mortgage backed securities and its role in the crash of 2008. There is no question of the venality that dictated behavior at S&P and probably the other major rating agency, Moody’s. The financial and econometric models used by S&P were allowed to yield rosier results and to ignore risks despite internal concerns, and a major motivator was the drive to maintain market share in the massive mortgage marketplace.
Just 8 months ago, McDonald’s shareholders awarded Don Thompson with nearly $8 million in incentive pay for his performance as CEO—that’s compensation in addition to a base salary and benefits that topped $1.5 million.