Last week, New York City Comptroller Scott Stringer unveiled a new plan to regulate financial advisers, the first of its kind, that tries to protect the average investor from advisers who don’t have to put their clients’ best interests first.
Last week, Massachusetts became the latest state to either settle or lose in litigation over complaints that it wasn’t providing adequate voter registration services at welfare offices.
The settlement is part of a broad effort by voting rights groups to reverse the decline in voter registrations at public assistance offices, which Congress intended to serve as a mechanism for signing up low-income voters. National voting rights groups argue that the decline in registrations is because of improper implementation by staff at government welfare offices. (...)
On Thursday, a day on which many New Yorkers were squinting in what seemed like the first full sunlight in months, New York Mayor de Blasio announced at Gracie Mansion that he, along with a number of other leading progressives, was putting forward a vision for how to address income inequality. Speaking first, de Blasio said that the group had come together to formulate a template for how best to conquer income inequality, which, he said, is worse today than it was at the height of the Great Depression.
Life happens. We have children to support. We lose jobs. Marriages fall apart. By the time we near our ‘Golden Years’ the nest-egg we may have envisioned may be a lot smaller than we thought and in many cases, not there at all due to heavy debt loads.
Having to register to vote is a practical barrier for some people, especially those who are poor and marginalized. So shifting that burden to the state leads to more people voting.
Late Tuesday, news broke that yet another unarmed American, a black man named Walter Scott, was killed by a white police officer. As with Tamir Rice, Eric Garner, and Rodney King nearly 25 years ago, the brutality was captured on video for the world to see. The New York Times put the damning evidence at the very top of its homepage and it quickly spread throughout social media networks provoking outrage, disgust, horror, grief. These reactions have come most vocally from black Americans.
Middle class income stagnation, and the inequality that it causes, is the principal economic challenge for the nation — and finance is to blame for it.
"You are in a Catch-22," said Emmanuel Caicedo, a senior campaign strategist with Demos, one member of a coalition of 79 labor and civil rights organizations that formed the NYC Coalition to Stop Credit Checks in Employment.
"You can't pay your bills and so your credit is bad. And then you can't get a job to pay your bills because of your credit."
The rationale behind the ban is simple: it’s unfair and useless to use a person’s credit history, which is often inaccurate or misleading, when assessing their job qualifications.
Federal contracting with private vendors supports about two million low-wage private sector jobs, according to Demos, a national research institute, in their study, "Underwriting Bad Jobs." That is "more than the number of low wage workers at Walmart and McDonald's combined."
President Obama's recent comments on universal voting have spurred a debate about how such a policy would influence elections. On the Monkey Cage blog, John Sides examines the partisan consequences and argues that turnout would generally benefit Democrats, but that the effect would be modest.
The lack of retirement security for middle-class and low-wage workers is a growing crisis that Washington has refused to address, even though it demands immediate attention.
In the wake of the recent gutting of the Voting Rights Act, partisans were quick to jump on the opportunity to restrict unfavorable voters. Across the country, conservatives in particular have debated fiercely whether to pursue voter suppression to remain competitive in an increasingly diverse electorate.
While income is distributed unequally in the country, what few people know is how much more unequally wealth, financial assets and inheritances are distributed.
Barring a dramatic scandal or an unforeseen event, Hillary Clinton will be the 2016 Democratic party nominee for president. While many on the left have complained about her close ties to banks and her past unwillingness to tackle inequality, such complaints are unlikely to be solved by any challenger. Progressives should instead begin creating the infrastructure to shift American politics in a more progressive direction -- and do so while supporting Clinton in 2016.