Click here to subscribe to Roosevelt First, our weekday morning email featuring the Daily Digest.
The Overpaid CEO (Democracy)
Roosevelt Institute Fellow Susan Holmberg and Mark Schmitt argue that exorbitant executive pay cannot be addressed without reconceptualizing a corporation as more than just an agent of its shareholders.
Independence Has Costs and Benefits (The Scotsman)
Roosevelt Institute Chief Economist Joseph Stiglitz argues that Scotland should base its decision about independence on values rather than short-run economic gains or losses.
The Myth That Sold the Financial Bailout (AJAM)
Letting the investment banks collapse wouldn’t have caused a second Great Depression, says Dean Baker. Between the FDIC and stimulus deals, the economy would still have recovered.
Why Pensions Went Away: A Theory (WSJ)
Lauren Weber looks at a new study on pensions, which suggests that the increase in influential investors who buy large blocks of stocks is tied to dropped pension plans.
Income Inequality is Hurting State Tax Revenue, Report Says (WaPo)
A new study from Standard & Poors shows the impact of inequality on state budgets, writes Josh Boak. S&P says that changing state tax codes won’t be enough to solve this problem.
What the Poverty Rate Tells Us About the Overall Economy (NYT)
Jared Bernstein expects that the 2013 data will show that the poverty rate has continued to hold steady around 15 percent, because the recovery hasn’t reached low-income households.
Scott Walker Wants To Fight Feds Over Welfare Drug Tests (HuffPo)
Federal law does not allow drug testing for food stamps or unemployment insurance, but Arthur Delaney reports that the Wisconsin governor wants to push back on that rule.
Unseen Toll: Wages of Millions Seized to Pay Past Debts (ProPublica)
Paul Kiel looks at the rise of wage garnishment for consumer debts, a system that has few protections for debtors and causes great financial hardship, since up to 25 percent of a paycheck can be taken.