We all have to grow up, whether we want to or not. The Toys 'R' Us announcement that it is closing its U.S. stores should be a pivotal moment in the maturation of how we as a nation think about wealth and debt, and the rules that make it possible for companies and communities to be resilient.
[T]he pain of retail sector hemorrhaging will be most severe for Black workers considering retail is the second largest Black population employer. Nearly 12 percent of retail workers are Black – close to their overall population ratio. And 54 percent of Black retail workers are supporting households, according to think tank Demos, the highest proportion of any demographic group in that sector. Black retail workers also suffer the highest poverty rates.
The increased economic anxiety among black and Hispanic workers is not surprising when considering the fact that working-class workers of color tend to be paid less on the job and, therefore, hold less wealth.
Employees would likely contribute less to IRA accounts
If the proposal passes, there is a strong indication that U.S. workers will either shift their savings to Roth Individual Retirement Account (IRA) accounts, where contributions are taxed immediately or employees and employers will contribute less for retirement.
Another solution — though one that is often a struggle to achieve — is to unionize, which has worked before in industries like teaching, policing, and manufacturing. “If retail workers were able to organize strong unions across the country, there’s no reason retail jobs couldn’t be good jobs like manufacturing jobs,” Amy Traub, Associate Director for Policy and Research at public policy organizationDemos, tells Bustle.
From the day he launched his campaign with dire warnings about border-crossing “bad hombres,” Donald Trump has preyed on some Americans’ worst biases around immigration. Trump has since exhorted Congress to allocate tens of billions of dollars for a border wall, stepped up arrests of immigrants, separated Latino children from their parents, and pushed to expedite deportations. [...]
On August 31, Federal District Judge Amos Mazzant of Texas issued a ruling striking down the U.S. Department of Labor’s update to federal rules on overtime pay. Demos Associate Director of Policy and Research Amy Traub released the following statement:
A point that climate change reports often fail to note is climate change will disproportionately harm people of color. People of color are overrepresented in the southern states, in the poorest counties, and among outdoor workers.
August 2, 2017 (New York, NY) – In response to reports today that the U.S. Department of Justice plans to investigate higher education institutions’ affirmative action policies, Heather McGhee, President of Demos and Demos Action, issued the following statement.