The Supreme Court’s ruling earlier this spring in McCutcheon v F.E.C., which increased the amount of money donors can contribute to political campaigns for federal office, has added new fuel to an 80-year-old debatebetween those who contend that the Supreme Court decides cases on the basis of abstract principles of law and those who argue
Thomas Piketty’s wildly popular new book, “Capital in the 21st Century,” has been subject to more thinkpieces than the final episode of “Breaking Bad.” Progressives are celebrating the book — a
Competition and innovation in bank payments risk being undermined if the system’s new regulator is too heavy handed, a report from Demos Finance warns.
The government is setting up a regulator to ensure new and smaller banks get a fair deal when using larger rivals’ systems. But analysts at Demos worry some actions to address this could backfire, prompting banks to withdraw services rather than comply. The think tank also wants the new regulator to consider potential uses for collecting tax data.
Jeff Jacoby ends his June 29 column by asserting that black citizens’ right to vote “is no longer endangered anywhere in America.” What America is he talking about?
Los Angeles lawmakers were expected to vote Wednesday on a proposal to renegotiate or terminate an interest rate swap deal from the mid-2000s that critics say now costs the city millions of dollars a year in fees. If successful, the initiative could make the city the nation's largest to challenge ballooning Wall Street levies that accompany similar interest rate swap deals throughout the nation.
The FDIC estimates there are 10 million people living in the U.S. who do not have a bank account — that’s one out of every 13 households. Nearly 33 percent of people living in Starr County, TX can’t write a check. In one census district in Savannah, GA, over 42 percent of residents are unbanked. The unbanked are usually poor, often minorities, and find themselves shunned by banks that can’t make money off them. Typically, they end up turning to predatory check cashers and payday lenders. Many also feel a great sense of social division between themselves and those who have bank accounts.
On Election Day, Montana will host one of the country’s key voting rights battles as voters decide whether to preserve or eliminate the state’s Election Day Registration (EDR) law, which permits citizens to register (or update their registration if they’ve recently moved) when they show up at the polls.
In the wake of the unrest in Ferguson, Missouri, after the Aug. 9 shooting of black teenager Michael Brown by white police officer Darren Wilson, there has been a focus on racial disparities in representation. A recent study found that while people of color make up 37.2 percent of the U.S. population, they account for only 10 percent of elected officials at the federal, state and county levels. By contrast, white men, who make up 31 percent of the population, account for 65 percent of representatives.
In their seminal 1980 study on the question, using data from 1972, political scientists Raymond Wolfinger and Steven Rosenstone argued that “voters are virtually a carbon copy of the citizen population.” In 1999, Wolfinger and his colleague Benjamin Highton again came to the same conclusion: “Outcomes would not change if everyone voted.” Their argument rested upon the fact that polling data did not show large differences in opinions on most issues between those who voted and those who
The last two years of Obama’s presidency will largely be defined by his defense of key legislation: the Affordable Care Act, caps on carbon emissions and Dodd-Frank. While the broad shape of the first two battles is already known, the war on financial regulation, because of its abstract nature, will often be waged outside of the public eye.
I first encountered the upper middle class when I attended a big magnet high school in Manhattan that attracted a decent number of brainy, better-off kids whose parents preferred not to pay private-school tuition. Growing up in an immigrant household, I’d felt largely immune to class distinctions. Before high school, some of the kids I knew were somewhat worse off, and others were somewhat better off than most, but we generally all fell into the same lower-middle- or middle-middle-class milieu. So high school was a revelation.
It’s been more than two decades since Congress passed the so-called Motor Voter Act requiring state DMVs to let residents register to vote at their offices — but the ACLU of California says the state’s Department of Motor Vehicles is falling asleep at the wheel, and it’s threatening to sue.
After years of hardship, America’s middle class has gotten some positive news in the last few months. The country’s economic recovery is gaining steam, consumer spending is starting to tick up (it grew at more than 4 % last quarter), and even wages have started to improve slightly. This has understandably led some economists and analysts to conclude that the shrinking middle phenomenon is over. [...]
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.
Warren Buffett warned investors that bankers were still up to their old tricks in his recent investor letter. Vanguard founder Jack Bogle is writing about how high fee mutual funds are ripping off investors and endangering retirement security. And Fed Chair Janet Yellen is touting new, tougher capital rules for “Too Big to Fail” banks.
Fifty years after Bloody Sunday, I marched to the top of the Edmund Pettus Bridge with Mrs. Amelia Boynton Robinson, Congressman John Lewis, President Barack Obama, and many others.
In preparation for the 2016 presidential election, Democrats appear united around one candidate, while the Republican contest remains far from secured. Many on the left, who view Hillary Clinton’s stances as a tame brand of liberalism, have attempted to draft Sen. Elizabeth Warren, D-Mass., to run. But the progressives do not need a charismatic leader. Instead, they need to invest in unleashing the disgruntled progressive majority.