HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » dsteve01 » Journal
Introducing Discussionist: A new forum by the creators of DU
Page: 1

dsteve01

Profile Information

Member since: Mon Dec 19, 2011, 05:17 PM
Number of posts: 308

Journal Archives

Pussy Riot attacked in Nizhny Novgorod McDonalds



Happened just today.

Highest Minimum-Wage State Washington Beats U.S. Job Growth

Awesome article I read this morning on the benefits of a minimum wage. Is it possible that raising the minimum wage also raises the velocity of spending? I'm sure my old college econ professor would disagree with the premise and call me girl's names, but it's an interesting idea for a study.

Waytogo Bloomberg.

http://www.bloomberg.com/news/2014-03-05/washington-shows-highest-minimum-wage-state-beats-u-s-with-jobs.html

When Washington residents voted in 1998 to raise the state’s minimum wage and link it to the cost of living, opponents warned the measure would be a job-killer. The prediction hasn’t been borne out.

In the 15 years that followed, the state’s minimum wage climbed to $9.32 -- the highest in the country. Meanwhile job growth continued at an average 0.8 percent annual pace, 0.3 percentage point above the national rate. Payrolls at Washington’s restaurants and bars, portrayed as particularly vulnerable to higher wage costs, expanded by 21 percent. Poverty has trailed the U.S. level for at least seven years.

The debate is replaying on a national scale as Democrats led by President Barack Obama push for an increase in the $7.25-an-hour federal minimum, while opponents argue a raise would hurt those it’s intended to help by axing jobs for the lowest-skilled. Even if that proves true, Washington’s example shows that any such effects aren’t big enough to throw its economy and labor market off the tracks.

Banks frankly own the place.



Politico has an awesome article on Republicans being threatened by the bank lobby.

----

http://www.politico.com/story/2014/02/wall-street-republicans-dave-camp-bank-tax-reform-104065.html#ixzz2v6jAz8pr

Private equity and investment firms in New York are telling key Republican players in D.C. that commitments for big-dollar fundraising have been “canceled for the foreseeable future,” according to one GOP lobbyist with knowledge of the conversations.

Lobbyists for Bank of America, Goldman Sachs and JPMorgan and others are meeting privately with lawmakers to explain what the bank tax would cost and how it would function.

Big banks want to turn Republicans against the bank tax. The situation puts the party at risk of seeing a reliable source of campaign cash dry up right in the middle of a critical election year.

----

Are Republicans trying to control Wall Street? Or is this a red herring? I hate the idea of Democratic leadership shutting down Dave Camp -- but I'm not sure if that's the case.

I just don't know anymore.
Go to Page: 1