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By Rachel Goldfarb, originally published on Next New Deal

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Highest Minimum-Wage State Washington Beats U.S. Job Growth (Bloomberg)

Victoria Stilwell, Peter Robison, and William Selway report that Washington hasn't just shown higher job growth – it also has lower poverty rates, and the supposedly vulnerable service industry is growing.

Minimum Wage Raise Would Reduce Food Stamp Spending By $46 Billion Over Decade: Report (HuffPo)

A new report from the Center for American Progress analyzes how higher wages would reduce need, writes Dave Jamieson. Raising the minimum wage would decrease the "culture of dependency" that Republicans decry.

The U.S. Economy's Big Baby Problem (The Atlantic)

The American birthrate has hit a new record low. That wouldn't be a big deal, writes Derek Thompson, if our economy didn't rely so heavily on families' consumer spending.

Over 2 Million People Now Without Unemployment Benefits (MSNBC)

The number of long-term unemployed workers in the U.S. keeps growing, and Ned Resnikoff says it's looking less and less likely that Congress will reauthorize their extended unemployment insurance.

When Regulation Threatens, Bankers Predict Doom For Main Street (ProPublica)

Jesse Eisinger explains how banks are trying to chip away at financial reform by negotiating behind the scenes on little-known issues. Going after collateralized loan obligation rules doesn't get much public scrutiny.

Does America Need a Robin Hood Tax? (Pacific Standard)

Kyle Chayka says a financial transactions tax could raise enough money to fight many social problems. Focusing such a tax on high-frequency trading would also curtail the banks' worst excesses.

It’s Still Paul Ryan’s Party (WaPo)

Greg Sargent calls out Ryan's hypocrisy in claiming the president's budget contains no attempt at compromise. Ryan's budget seeks even less common ground, with absolutely no funds for Democratic priorities.

Originally posted to Daily Kos Economics on Thu Mar 06, 2014 at 05:05 AM PST.

Also republished by Daily Kos.

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Comment Preferences

  •  Robin Hood Tax (1+ / 0-)
    Recommended by:

    We need this sort of tax to cool off hot markets and prevent bubbles... As long as wealth disparity remains so high - and billionaires have to work so hard to figure out where to put their money - any markets that can be invested in are vulnerable to bubbles.  

    It ain't just theory - people suffer when bubbles burst in commodities markets. When too many people suffer they say "F**k cake, we're going to eat the rich!"

    Financial transaction taxes would be a nice step to keep guillotines form making a comeback.  

    -- illegitimi non carborundum

    by BadBoyScientist on Thu Mar 06, 2014 at 09:32:40 PM PST

  •  Never Will Happen (0+ / 0-)

    Increasing the Minimum Wage will, by definition, reduce the dividends the shareholders will get. Needless to say, nearly all politicians own shares of companies.

    I find it hard to believe today's congress critter will give up any money to make the world a better place. If they really cared, they would take a pay cut to reduce the deficit but we all know that ain't gonna happen.

    What will happen is a lot of talk and bluster... then once the cameras are off this will die a quiet death.

    •  By definition? Hardly. (1+ / 0-)
      Recommended by:

      It will, however, make it harder to make money by running a business badly.  In that sense, a minimum wage is a boon to the economy in much the same way that shuttering inefficient factories in the Eastern Bloc countries ultimately paved the way for more efficient factories and better products.  You may mourn the Trabant, but most people don't want to drive one.

      Did you notice that Washington state has the highest minimum wage in the country? It also is in the top 8 states for individual income with a cost of living that is but 2.5% over the national average.

      Sounds like a win all the way around.

      Maybe it's no coincidence that Costco is headquartered there -- a company that has repeatedly been pressured to reduce wages to its employees and has repeatedly asked the question" "Do you not see how much money we're making?"

      Maybe no coincidence either that Wal-Mart, the company that has lately been pushing the envelope of poor service and under-stocked shelves is HQed in Arkansas, one of the poorest states in the union.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Fri Mar 07, 2014 at 04:43:23 AM PST

      [ Parent ]

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