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By Rachel Goldfarb, originally published on Next New Deal

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Wall Street and Washington Want You to Believe the Stock Market isn't Rigged. Guess What? It Still Is (The Guardian)

Heidi Moore says investment in the stock market isn't down due to low investor confidence, but because more people are realizing the system isn't equal for all investors.

A Cure for Bloated CEO pay (Fortune)

Dean Baker proposes a "Director's Roulette" provision, which would withhold directors' compensation if a CEO pay package they approve had been voted down by a shareholder Say-on-Pay vote.

  • Roosevelt Take: Roosevelt Institute Fellow and Director of Research Susan Holmberg examines how Say-on-Pay begins to curb executive compensation.

Why did the White House Pass Up an Opportunity to Support a (Mostly) Good, Bipartisan Idea? (WaPo)

The White House rejected the proposed gas tax, needed to save the Highway Trust Fund that pays for infrastructure, but Jared Bernstein says an imperfect fix would have been better than nothing.

How the Government Subsidizes Wealth Inequality (CAP)

Harry Stein proposes that the U.S. government could reduce wealth inequality simply by changing tax policy for capital gains, since current subsidies give $2 trillion to the wealthy over 10 years.

How Connecticut’s Smart New Pension Plan Can Prevent Poverty in Retirement (The Nation)

Connecticut's new plan, which offers statewide benefits to private sector workers, will cost less than helping greater numbers of elderly poor down the line, writes Michelle Chen.

Ikea Plans to Increase Minimum Hourly Pay (NYT)

Steven Greenhouse reports on Ikea's new wage structure, which sets minimum wages on a store-by-store basis based on local cost of living, with an average minimum wage of $10.76.

Originally posted to Daily Kos Economics on Thu Jun 26, 2014 at 05:03 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Corker needs to negotiate with the House (0+ / 0-)

     I believe there is no value to agreeing to a tax increase on gas that will never pass the house.  Let the Senators negotiate with the house and bring that deal to the President.  He would take that.  But it makes no sense of POTUS discussing a gas tax that will never pass.

    Obama would not veto the bill, but necessary infrastructure improvements should be funded by the whole society.

  •  There is literally no difference (0+ / 0-)

    ...between the present time and 1929--when it comes to the stock market.

    People day-trade in hopes of riding the system being gamed. Everyone knows it's rigged, just like 1929, but they try to work it anyway, like a too-self-confident card counter in a casino blackjack game. As an AIG executive said in the wake of the Crash of '08: If you're NOT playing the game, you aren't making the money from it, and you'll be seen as LOSING if you're not risking being the last person standing when the music stops. This isn't capitalism; it's legal gambling and outright theft.

    I have BEGGED my wife to dissolve our modest portfolio and get it out of the stock market, to no avail. I have been poor all my life. In a few years, she'll find out what I know, too.

    "I feel a lot safer already."--Emil Sitka

    by DaddyO on Fri Jun 27, 2014 at 08:14:55 AM PDT

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