A study by Demos, a liberal research center, found that a median-income couple that invested in 401(k)’s for 40 years with fees averaging 1.6 percent a year would achieve $354,850 in assets at average savings rates, but only after paying $154,794 in investment fees.
A mid-September sunny day in New York City draws those with the day off to go to the parks and laze along the avenues, walking by the workers on call, cleaning up after tourists, holding together a city that always seems held together by the sweat of its massive workforce and a dose of city pride. Beneath the massive Washington Arch, a woman in a wheelchair, beside other men and women in wheelchairs and other prosthetic devices, holds a sign that says, “Occupy Wheelchairs.” The Occupy Wall Street Disability Caucus is holding an assembly to proclaim its presence at Occupy, Year 2.
Henry Ford famously decided in 1914 to pay many of his workers the then incredible sum of five dollars a day, which was substantially higher than the prevailing wage at the time.
Walmart executives worried about the recent spate of labor activity against the retailer would probably tell you that they cannot possibly offer higher wages to their employees while maintaining their brand identifier of low prices. They offer what the market will bear in terms of wages, they would say, and anything more would represent a loss for their business, and would impact shoppers on tight budgets. It’s just not possible.
Retail companies don't have to choose between high wages and high profits, argues a new report from the researchers at Demos.
In Retail’s Hidden Potential, policy analyst Catherine Ruetschlin says that higher wages across the retail industry would create jobs and reduce poverty without cutting significantly into employers’ profit margins.
Black Friday has heaped new pressure on big box stores to bump up worker pay, with a group of Walmart employees plotting a walkout on the country’s biggest shopping day and the think tank Demos releasing a study Monday that touts the benefits of higher wages.
Will you drive on over to your local Wal-Mart on Black Friday morning, only to find yourself confronted by capitalism's misdeeds, in the form of protesting Wal-Mart workers demanding something approaching a living wage? Here is a list of planned Wal-Mart Black Friday actions around the country.
More broadly, the widening inequality reflected in the gap between the pay of Walmart workers and the returns to Walmart investors, including the Walton fammily, haunts the American economy.
“Black Friday” sales are debt traps for people to rush out and buy on credit.
But we can fix this on both the wage and profit ends of the continuum. It’s not that complex a fix, but it requires seeing our country as a whole, as one people who rise and fall together.
We can fix this whole mess and have something for which we could really give thanks, if we just paid workers a little more.
Walmart has been on something of a charm offensive where the public is concerned (and anintimidation offensive where its workers are concerned), hoping to blunt the impact of the Black Friday rebellion.
"Everyone is part-timed to death at these stores," Walton said. "When they sign up for these shifts, it's 'I don't get enough hours, I'm dying for hours, so I'll work these shifts.' Until we do something to stop the part-timing of the workforce, we're going to see this happen."
"Workers want to stop this before it becomes an absolute standard to work on Thanksgiving," Walton added.
With the holiday shopping season fast approaching,Demos has released a new report showing how raising wages in the retail sector would benefit not just workers but the economy as a whole. The study looks at what would happen if the lowest-paid retail employees earned $25,000 a year (the current average is $21,000 for retail sales people and just $18,500 for cashiers).
A new study released by the progressive think tank Demos on Monday estimated that if retail workers were given a living wage, hundreds of thousands of Americans would be lifted out of poverty and the wage boost would significantly bolster the economy.
It is really terrific to see retailers here giving critical attention to the Demos study. As a former business owner in the health services industry, I do realize that these problems are more than just abstract theory. That's one of the reasons why Demos and I thought it would be useful to evaluate the possibilities for adopting this business model across the retail sector, especially as the importance of retail to the US economy continues to grow.
Older Americans rely on credit cards as their financial safety net and pay down less of their debt than younger consumers, a new study shows.
Last year, the low- and middle-income 50-plus population had an average credit card balance of $8,278, compared with the younger generation's balance of $6,258, according to research conducted by Demos, a liberal public policy organization on behalf of AARP.
Tonight on NBC Nightly News, Chris Jansing reports on a new study that shows Americans age 50 and older are carrying an average of $8278 in credit card debt, thousands more than younger people. In addition, nearly 18 percent of those nearing retirement said they are using their retirement funds to pay down credit card debt.
AARP announced a major policy and research initiative Tuesday drawing attention to the economic decline of the American middle class. In the run-up to what will surely be a bruising Congressional battle over Medicare, Medicaid, Social Security, and other federal benefit programs, the powerful seniors' group said it would push for strengthened supports for all generations.