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+2 +1
Study: Inequality Robs $2.5 Trillion From U.S. Workers Each Year
Every few months, some group of socially conscious number crunchers will remind Americans that a tiny elite is binge-eating the nation’s economic pie while the rest of us plebeians fight over table scraps. Journalists will then aggregate eye-popping statistics and edifying charts, progressives will share these over social media, adorned with red-faced (and/or guillotine) emoji — and the moral arc of history will carry on bending toward neofeudalism.
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+19 +1
Is Middle Class Stagnation a Myth?
The decline of the American middle class began around the mid- to late-1980s, at the same time as the negative long-run changes in modern American life — increased income and wealth inequality, lower social mobility — began to intensify. The figure below shows the share of the middle four deciles in total market income. (Market income includes all labor and property incomes, plus income from own businesses.)
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+12 +1
Biden’s claim that with a $15 minimum wage, ‘the whole economy rises’
Biden is bullish on a big increase in the minimum wage, but economists are sharply divided on the impact on jobs.
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+22 +1
Why Millennials Can’t Grow Up
A few weeks ago, I met my first Millennial grandparent. I was interviewing a woman in her late 30s about President Joe Biden’s new child-tax-credit proposal, and she mentioned that it would benefit not just her two young kids but her older son’s kid too.
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+2 +1
The Murder of the U.S. Middle Class Began 40 Years Ago This Week
Reagan’s firing of striking air traffic controllers was the first huge offensive in corporate America’s war on everyone else.
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+23 +1
The world's baby shortfall is so bad that the labor shortage will last for years, major employment firms predict
“Demographic shifts” can mean many things. The composition of a body of people—median age, ethnic makeup, and more—all fall into the category. But in the context of the labor shortage that has gripped the world economy since the pandemic began, it has coincided with one of Elon Musk’s big worries: The world isn’t having enough babies.
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