#Income inequality
#Income inequality

Living wage increase to benefit around 1.7 million workers

Around 1.7 million workers will get a significant pay boost when the national minimum wage (NLW) increases from Saturday.A 92p rise to 10.42 an hour for workers aged 23 and over is equivalent to a near 10% increase, the Resolution Foundation said.The think tank said the increase is the biggest annual cash rise in the 24-year history of the minimum wage and one of the largest annual percentage rises.

Boston.com

Health

How healthy is your county compared to the rest of Massachusetts?

Some good news for Bay Staters - the University of Wisconsin's 2023 rankings of the healthiest counties in the U.S. show that Massachusetts residents on average have significantly better health outcomes than a majority of thecountry.That said, the rankings also show that people in some Massachusetts counties are significantly healthier than those in others.

sfist.com

San Francisco

Billionaire SF Standard Financier Gets Guff for SF-Bashing (and SF Chronicle-Bashing) In NYT Op-Ed

A Sunday New York Times op-ed from the money-man behind the SF Standard reads like a formulaic Mad Libs SF-trashing hit piece, but his attacks on the rival publication raise questions about his real motivations.Well-known billionaire SF venture capitalist and SF Standard financier Michael Moritz appears up to something.

Washington Post

Analysis | Fight Poverty, Not Income Inequality

Bloomberg Best of the Year 2021: A cleaner works in an upscale retail area in Beijing, China, on Wednesday, Aug. 25, 2021.(Photographer: Bloomberg/Bloomberg)Wealth and income inequality have recently gone down in the US and other parts of the West, and the decline has been going on for the better part of the last decade.

www.theguardian.com

Pets

Bone-appetite': San Francisco's latest trendy restaurant caters to canines

San Francisco is a foodie heaven with plenty of Michelin-starred restaurants.And San Franciscans love dogs.So it might come as no surprise that an entrepreneur has decided to combine the two passions, creating what's believed to be the first restaurant exclusively for man's best friend.Dogue, which rhymes with vogue, opened last month in the city's trendy Mission District.

morepeople

sfist.com

San Francisco

Castro Starbucks Votes to Unionize, May Become First Unionized Starbucks In San Francisco

Hold onto your gift cards, as the chain-store unionization movement in SF just got a shot from the Starbucks at 18th and Castro Streets, which voted to unionize in results confirmed Tuesday afternoon.

Washingtonian - The website that Washington lives by.

Washington DC

White House Interns Will Finally Be Paid - Washingtonian

Yesterday, the Biden Administration announced that this fall's class of White House interns will be the first in the history of the program to be paid for their labor.

www.theguardian.com

2 weeks ago

We deserve more': US workers' share of the pie dwindles

Low wages at Target stores impact employees' financial stability despite wage increase. [ more ]

The Mercury News

1 week ago

US rents climbed 1.5 times faster than wages in last four years

Rents have risen faster than wages in major U.S. cities, causing housing affordability issues. [ more ]

www.nytimes.com

6 days ago

Opinion | Preparing for the Second China Shock

Biden's administration is not a free-trade purist and is imposing tariffs to protect the U.S. economy against potential threats like a surge of Chinese imports. [ more ]

www.theguardian.com

2 weeks ago

Why are billionaires scared of Brazil's plan to hit them with a global tax? Because it makes perfect sense | Larry Elliott

Implementing a wealth tax on billionaires, like Jeff Bezos and Elon Musk, is proposed to address global financial challenges and reduce inequality. [ more ]

www.nytimes.com

3 weeks ago

Opinion | Can Biden Revive the Fortunes of American Workers?

The recent Volkswagen plant employee vote in Chattanooga symbolizes a significant victory for the labor movement and the potential for a return to a more egalitarian society. [ more ]

time.com

India's Income Inequality Is Now Worse Than Under British Rule, New Report Says

Rising income inequality in India due to billionaire growth

Comparison of income distribution between colonial and modern times [ more ]

City Limits

1 week ago

Dining

Presupuesto estatal incluye credito tributario por hijos, pero defensores advierten oportunidad perdida para combatir pobreza

La fórmula para calcular los pagos suplementarios del Empire State Child Credit excluye a familias de bajos ingresos de obtener el crédito máximo. [ more ]

Los Angeles Times

Los Angeles

Small-business owners brace for uncertainty as $20 hourly fast-food wage takes effect

Justin Foronda, a second-generation entrepreneur, faces challenges with rising minimum wage impacting small businesses in Los Angeles. [ more ]

Truthout

US Billionaires Have Doubled Their Wealth Since 2017 Trump Tax Overhaul

Billionaires in the U.S. now control 1 in every 25 dollars of American wealth.

Since 2017, U.S. billionaire wealth has doubled following the tax overhaul by Republicans under Donald Trump. [ more ]

Truthout

Sanders Unveils Bill to Tax Corporations Whose CEOs Are Paid Over 50 Times Median Worker Pay

The Tax Excessive CEO Pay Act aims to address the wealth gap by increasing corporate tax rates for companies with high CEO-to-worker pay ratios.

The bill would require companies to make their CEO-to-worker pay ratios public and implement measures to ensure compliance. [ more ]

www.theguardian.com

It will be the end of democracy': Bernie Sanders on what happens if Trump wins and how to stop him

Bernie Sanders is known for his casual appearance and gruff demeanor.

Sanders has been a driving force in changing the political conversation around income inequality and capitalism in the US. [ more ]

Truthout

In 41 States, Richest 1 Percent Pay Lowest Tax Rate of Any Group

In 34 states, families with the lowest incomes pay the highest tax rate.

Wealthy Americans benefit the most from regressive tax codes. [ more ]

Truthout

Workers Make $1.3 Million More Through Their Careers When They're in a Union

As a union wave grips workers across the U.S. seeking more control over their working conditions and wages, new research illustrates the vast material benefits waiting in store for workers if they unionize their workplaces.

San Jose Spotlight

Silicon Valley real estate

San Jose adopts landmark policy to stop displacement - San Jose Spotlight

Landmark policy to preserve housing for at-risk residents in San Jose.

Tenant preference based on geography for affordable housing projects. [ more ]

www.independent.co.uk

Number of children in poverty hits 20-year high, damning figures show

Child poverty in the UK is at a record high with 4.3 million affected, surpassing previous levels.

Calls for urgent government action to reduce child poverty and address income inequality. [ more ]

www.independent.co.uk

2 months ago

Tax cuts will plunge thousands into poverty, warn thinktanks ahead of spring Budget

Thousands of families may be pushed into poverty with planned national insurance tax cuts

Think tanks caution against proposed national insurance tax cuts due to disproportionate impact on poorer households. [ more ]

BBC News

5 months ago

Labour won't turn on spending taps, says Starmer

Sir Keir Starmer warns of 'huge constraints' on public spending if Labour wins next general election

Think tank report highlights UK's lower average household income compared to other countries like France and Germany [ more ]

www.nytimes.com

2 months ago

US politics

Bernie Sanders Proposes Reducing Americans' Workweek to 32 Hours

Americans working long hours for less pay despite advances in technology and productivity.

Senator Bernie Sanders proposing legislation to reduce the standard workweek from 40 hours to 32 without reducing pay. [ more ]

www.mercurynews.com

2 months ago

Parenting

Opinion: Investing in America's children pays, even if Mom is on drugs

Parental income predicts children's future earnings, especially for those in poverty

Investment in early childhood can break the link between background and opportunity [ more ]

Flipboard

Chicago

Parents turn to AI tablets after China's tutor crackdown

China's economy is experiencing a slowdown due to multiple factors, including the Xi Jinping administration's push for 'Common Prosperity' and ongoing regulatory crackdowns.

The Chinese government's crackdown on tech giants and its efforts to reduce income inequality are leading to a shift in investor sentiment and a decrease in consumer spending in China. [ more ]

Kqed

California

California's Middle Class Declines as Low and High Incomes Surge, Study Shows | KQED

California is losing middle-income earners, with a 7% decrease in this demographic between 2000 and 2019.

High housing costs are a primary driver for middle-income residents leaving the state. [ more ]

KQED

California

White Households Get Bigger Property Tax Breaks Compared to Black, Latino Homeowners, Study Says | KQED

Hahnel said the generational disparities can belie racial ones because not all buyers have had the same access to the housing market.

The Nation

Social justice

Bernie Sanders: "The International Billionaire Class Is Making Out Like Bandits"

Lack of serious debate on important issues in Congress

Criticism of US foreign policy consensus [ more ]

www.nytimes.com

Social justice

Opinion | Full Employment Is Good for Society

The economic divide between Black and white Americans has persisted for the past half-century, with little progress on narrowing the gap.

Reduced discrimination was offset by an increase in overall income inequality, which hindered the relative progress of Black Americans. [ more ]

HuffPost

Social justice

Most States Have Tax Codes That Are Rigged To Benefit The Wealthy: Report

The top 1% in four out of every five states pay a lower tax rate than middle-class and low-income residents.

The majority of states have tax systems that disproportionately burden lower-income families, according to the report by the Institute on Taxation and Economic Policy. [ more ]

Artificial intelligence

Hindustan Times

Artificial intelligence

Artificial Intelligence will affect almost 40% jobs globally: IMF report

Artificial intelligence will affect almost 40% of global jobs

AI's income inequality effect will largely depend on how much the technology complements high earners [ more ]

New York Post

moreArtificial intelligence

Artificial intelligence

AI will affect 60% of US jobs and worsen income inequality, IMF warns

Artificial intelligence could replace up to 60% of jobs in advanced economies

Age and adaptability play a significant role in job displacement [ more ]

BKReader

5 months ago

Brooklyn

Two Brooklyn Nonprofits Receive $250K to Address Wealth Divide

Two Brooklyn-based nonprofits, The Laundromat Project and COOP Careers, have been awarded $250,000 grants from MetLife Foundation's Accelerating Commitment to Equity Innovation Fund.

The Laundromat Project will use the grant to promote cultural preservation and generational wealth building, while COOP Careers will create a social capital building program at Brooklyn College. [ more ]

www.theguardian.com

5 months ago

UK politics

Britain has been in a 15-year economic slump. This is our route out of it | Torsten Bell

Britain is experiencing a phase of relative decline characterized by poor productivity growth and stagnant wages.

The UK is Europe's most unequal large economy, with poorer families 27% worse off than their French and German counterparts. [ more ]

www.theguardian.com

11 months ago

UK politics

The Guardian view on a death of consensus: politicians are having different nightmares | Editorial

Do political parties concur because they agree about their goals or their fears?Phil Tinline argues in his book The Death of Consensus that it is shared nightmares, not aspirations, that create unanimity in politics.This might explain why a new consensus seemed to form earlier this year personified in the Economist by the character of Ms Heeves, a portmanteau of the Conservative chancellor, Jeremy Hunt, and his Labour shadow, Rachel Reeves.

www.theguardian.com

UK politics

The Guardian view on wealth taxes: UK needs one on millionaires and billionaires | Editorial

During the pandemic, the rich saw their ranks swell as stock markets soared even as low-income workers returned to work and blue collar jobs were hollowed out.The upshot is that for the first time in three decades, extreme poverty and extreme wealth across the world have gone up at the same time.As the annual meeting of the World Economic Forum opens in Davos, Oxfam has shown that the gaps are yawning wider: the four richest Britons now have more wealth than 20 million compatriots.

Washington Post

Analysis | The Collapse in the US Saving Rate Is Misleading

The collapse in the personal US saving rate to near a record low has fueled a narrative that consumers are clearly strapped heading into 2023.This is worrisome because consumer spending accounts for about two thirds of the economy.Heck, one widely shared analysis by Federal Reserve analysts estimated that by this past June, households had run through half the savings buffer built up during the pandemic.

Nytimes