A new report out this morning called The Asset Value of Whiteness: Understanding the Racial Wealth Gappurports to shatter traditional explanations for the lack of financial progress in African American and Latinx households as compared to white ones in the U.S.
Next week, Washington, D.C.’s municipal government will vote on new legislation that, if enacted, would guarantee people working in the District up to 11 weeks of paid leave to care for a new baby or child. But this is just the latest in a string of state and local governments taking action to address the needs of working parents and their families.[...]
President-elect Donald Trump has made it clear that he wants to repeal President Barack Obama’s signature climate policies—the Clean Power Plan and the Paris Agreement on global emissions reductions. If he is successful, we will need a Plan B that the Republicans cannot obstruct. That means turning to states and cities, and in a big way.
The D.C. Council is considering a bill that would bar businesses from performing credit checks on job applicants. Supporters of the legislation say credit histories can be inaccurate and indicate little about workers’ character.[...]
“Our research shows poor credit more often tells a story of personal misfortune far more convincingly than one of poor work habits,” says Amy Traub, a senior policy analyst at Demos.[...]
According to the Demos report, credit checks were never intended to be used for hiring.
When environmentalists speak of climate change, they often talk of “future generations.” But generations already here are poised to suffer long-term consequences. Climate change will affect millennials drastically—including in their wallets.
If the twin threats to public pensions continue, African American retirees may lose much of the retirement security they’ve gained over the past half-century.
"There are no other countries that we would think of as advanced that don't offer some paid maternity leave," said Amy Traub, a senior policy analyst at Demos, a left-leaning public policy group. "So many countries started guaranteeing maternity leave as more woman started to enter the workplace, and the U.S. just has been a laggard."
I want to know what’s going to happen with the farm workers,” she said, through a translator. “Are you going to include us in this?”
Bhandary-Alexander said the hearing “couldn’t have been any better,” as a way to connect policy issues with individual narratives.
The board heard from economic experts from the Economic Policy Institute and Demos think tank in previous hearings about how minimum wage increases have affected other cities.
“Super PACs likely encouraged more candidates to get into the 2016 GOP presidential race,” said Jay Goodliffe, a political science professor at Brigham Young University. “Even if their polls were not initially good, or there were other setbacks, the super PAC could help keep them afloat.”
The idea of a property-owning democracy is no longer the reality in the United States. Edward Wolff finds that the wealthiest 10 percent own 90.9 percent of all stocks and mutual funds, 94.3 percent of financial securities but only 26.5 percent of the debt. For the middle class, their home makes up 62.5 percent of their limited wealth.
Federal Reserve Board Chair Janet Yellen is living in a bubble because the Fed just doesn’t see that. Perhaps the Fed wants to put the brakes on an economy already struggling up a hill on low fuel? Amy Traub, a senior policy analyst at Demos, believes the Fed’s interest-rate hike is a “small step toward slowing down the economy.”
However generous Amazon's new benefits are, whether employees actually use those benefits will depend a lot on the culture they work in and the social pressures they face.
"Amazon is notorious for its competitive work environment, and simply having access to leave may not be enough if workers feel they will be penalized in their careers for taking it," said Amy Traub, a senior policy analyst at Demos.
Clinton supports raising the federal minimum wage to $12 per hour. Despite minimum wage hikes by many state and local governments, and by high-profile employers like Walmart and Target, the federal minimum wage remains stuck at $7.25 per hour, the same rate it has been at since 2009. Many advocates of a higher minimum wage, including Clinton competitor Bernie Sanders, want a federal minimum wage of $15 per hour nationwide.