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Seattle Enacts $15 Minimum Wage, a Phased In Big Dream (Seattle Post-Intelligencer)
Joel Connelly reports on the city council’s passage of the highest minimum wage in the country, and the conflicts that arose along the way.
Colleges Are Buying Stuff They Can’t Afford and Making Students Pay For It (The Nation)
A new study from the University of California, Berkeley’s Debt and Society Project ties universities’ increased debt from capital projects to rising student debt, writes Michelle Chen.
Low Retail Wages Disproportionately Hurt Women (MSNBC)
A new Demos report highlights this industry-wide problem, which Ned Resnikoff connects to other industries with more women and very low wages, like food service and domestic workers.
50 Shades of Fed (WaPo)
Jim Tankersley reports on a gathering of economists who discussed whether the Federal Reserve is overstepping its bounds. He notes that they didn’t talk much about unemployment.
Coca Cola Demonstrates CEO Pay Has Nothing to Do with Performance (AJAM)
The bonus packages at Coca Cola are so disproportionately large compared to the company’s profits that they can’t truly be “performance pay,” says Dean Baker.
- Roosevelt Take: Roosevelt Institute Fellow and Director of Research Sue Holmberg and Campus Network alumna Lydia Austin call for closing the performance pay loophole.
Los Angeles Sues Big Banks for Predatory Mortgages But Unlikely to Win (The Guardian)
The city is suing banks for discriminatory practices that targeted minority communities for subprime mortgages, reports David Dayen, but it won’t compensate homeowners with any winnings.
New on Next New Deal
Roosevelt Institute Senior Fellow Richard Kirsch argues that New York Governor Andrew Cuomo’s agreement with the Working Families Party creates an opportunity for real progressive change.