Daily Digest – February 10: What Happened to Reinvesting Corporate Profits?
February 10, 2015
Stock Buybacks Are Killing the American Economy (The Atlantic)
Nick Hanauer blames the high percentage of corporate profits going to stock buybacks for our slowed economy; that money could otherwise go to higher wages or new corporate investments.
Obama and Congress Offer Bogus Rhetoric on Tax Reform (AJAM)
David Cay Johnston says that both the Democrats and the Republicans are only discussing tax reform that benefits the political donor class, instead of reform that help average Americans.
- Roosevelt Take: In a white paper released last year, Roosevelt Institute Chief Economist Joseph Stiglitz proposed a tax plan that would promote equity and growth for all.
Right-to-Work Laws are Every Republican Union-Hater’s Weapon of Choice (The Guardian)
There are no philosophical or economic arguments in favor of right-to-work laws, writes Michael Paarlberg, only a political preference for supporting employers over workers.
Illinois Governor Acts to Curb Power of Public Sector Unions (NYT)
Monica Davey and Mitch Smith report on Governor Rauner’s executive order, which will strip public sector unions of the fair share dues that non-members pay for the benefits they get anyway.
Red States’ New Tax on the Poor: Mandatory Drug Tests for Welfare Recipients (TNR)
Elizabeth Stoker Bruenig points out that only certain public funds require invasive tests to ensure recipients are worthy of assistance. Other forms of welfare, like public schools, are simply accepted.
In at Least 22 States, Your Student Debt Could Cost You Your Job (Jobs With Justice)
Chris Hicks points out the disconnect inherent in laws that revoke professional licenses from people who aren’t able to pay their student debt. How will they make enough to pay it off without that license?