Economic Justice In The News

A minimum-wage worker can’t afford a 2-bedroom apartment anywhere in the U.S. (Tracy Jan, Washington Post, Wonkblog, June 13, 2018) In Nevada, a worker must receive an hourly wage of $18.59 and work 40 hours/week, 52 weeks per year, to afford a two-bedroom rental home and not spend more than 30% of their income on housing. “’While the housing market may have recovered for many, we are nonetheless experiencing an affordable housing crisis, especially for very low-income families,’” Sen. Bernie Sanders (I-Vt.) said in the report.”

Major Nevada CEOs brought in hundreds of times more in pay than average worker (Riley Snyder, The Nevada Independent,

“The ratios themselves underl[ie] a consistent problem for Nevada, which has seen most of the benefits of the economic recovery since the 2008 recession flow to the wealthiest. The state is one of 15 that saw all income growth between 2009 and 2013 go to the top 1 percent, according to the left-leaning Economic Policy Institute, and saw a 13 percent decline in real income growth for the bottom 99 percent of individuals over the same time period.”

Unemployment Drops Below 4 Percent in April (Jennifer Schramm, AARP Blog Thinking Policy, May 4, 2018)

Women’s Uphill Battle for Financial Security (Nancy LeaMond, AARP Blog Where We Stand, April 27, 2018)

Bad Medicine: How GOP Tax Cuts Are Enriching Drug Companies, Leaving Workers & Patients Behind (Americans for Tax Fairness, April 26, 2018) “America’s 10 biggest prescription-drug corporations—the Pharma Big 10—are among the biggest winners from the Trump-GOP tax cuts but they are sharing few of the benefits with their employees and are offering no pricing relief to their customers. Instead, they are mostly rewarding their CEOs and other wealthy shareholders with fat stock buybacks and dividend hikes, recent public announcements and analysis reveal.”

Dean Heller has stated publicly how wonderful the tax bill was and how companies are helping employees financially because of it, but that’s really more wishful thinking than reality. The number of companies actually doing anything for employees is far outweighed by the number who are not–and Big Pharma is just one example. Heller makes a big deal about bonuses but those are the easiest and most cost effective thing for the companies while putting the least amount of money in workers’ bank accounts. The businesses go on getting a tax break but when your $1000 bonus (less 25% taxes) is gone you don’t get another one. Contact Heller and ask him how that is wonderful and how it helps the ordinary citizen long-term.

 

 


Here’s How Long It Will Take for Each State to Give Women Equal Pay
(Fortune, 3/21/17) “For states that are closest to erasing their wage gaps, the story is mixed. On one hand, there’s some bad news. For Florida and Nevada, the wage gap is narrowing not because women are benefitting from rising wages, but because average pay for men has fallen relative to women.”