Vulture Capitalism


Employers Can Take 'Personal Responsibility' For Poverty Wages

By Tina Dupuy

Brace yourself America—Republicans have discovered poverty!

Right here, right under their noses, 48 million Americans are, as Senator Marco Rubio puts it, “soon-to-haves.” Because nothing says you understand institutional and generational poverty like using corporate-ese to describe it.

Now that Republicans have acknowledged one-fifth of the wealthiest country in the world is impoverished, they’re debating whether this is a viable issue for them.

Want to Cut Food Stamp Spending? Raise the Minimum Wage

By Dave Johnson

Today, President Obama will give a speech on his plan to grow the economy and the middle class. On Thursday, fast-food workers will strike in 100 cities and stage protests in 100 others to demand $15 an hour and the right to form a union without interference from employers. Here’s something to consider: raising the minimum wage cuts government spending on Food Stamps and other programs.

The Minimum Wage

Fast Food With A Side Of Poverty, And What It Costs Us

By Derek Pugh

A new report from researchers at the University of California at Berkeley estimates that low-wage jobs in the fast-food sector are costing American taxpayers nearly $7 billion every year.

The report—Fast Food, Poverty Wages: The Public Cost of Low-Wage Jobs in the Fast Food Industry—highlights the negative effects low-wage jobs have on the American economy and public. Workers in the fast-food industry are subjected to low pay with no benefits, forcing them to rely on public assistance programs to survive. The median worker is paid a mere $8.69 an hour, with many making at or near the minimum wage, and 87 percent do not receive health insurance through their employer.

Bay Area City Joins Movement Against Predatory Payday Lenders

By Liana Molina and Kyra Kazantzis

Coalition Against Payday Predators

In the face of the state legislature’s inaction on payday reform and growing national visibility on the issue, cities across California are taking steps to rein in payday and other high cost lenders. Earlier this week, the City Council of Sunnyvale voted to restrict the growth of payday lenders by enacting a “cap” on the number of lenders, creating “buffer zones” between lenders, allowing payday lending only in designated areas, and establishing operational standards.

A Corporate Tax Idea That Fixes Lots Of Problems

Dave JohnsonBy Dave Johnson

Here is one thing Congress could do that would create more jobs, boost the economy and reduce both the budget deficit and the trade deficit. This one thing would not only provide a big boost now, but would provide an ongoing boost from now on. Congress should modify the “deferral” tax loophole that lets companies dodge their taxes by moving and keeping profits “out of the country.”

What Should We Think About The Arrests at JPMorgan Chase?

By Richard Eskow

Four years after Wall Street’s malfeasance dealt a telling blow the economy, and long after tens of billions of dollars have been paid out for banker fraud, reports say that we’re about to see the first arrests of Wall Street bank employees. What’s more, the suspects work at JPMorgan Chase – a banks which, ironically enough, politicians and pundits insisted was the “good bank” after the financial crisis hit in 2008.

In fact, Chase CEO Jamie Dimon spent years speaking out forcefully against additional bank regulation. (Lately, not so much …)

Financial cases can seem complicated. What should we think about these recent announcements in the “London Whale” case?

"Shared Sacrifice" at Hostess and Walmart That Isn't

By Julie Driscoll

As a proud union family - my husband has been a Teamster for almost 30 years - I put my boots on the ground for four weekends in Wisconsin, for a couple of protests in Lansing, Michigan, and for every pro-union rally that popped up in Chicago.

Two things stand out in recent days: Hostess closing its doors, and Wal-Mart's Black Friday worker strike. Hostess is a union shop, Wal-Mart is not (yet). But in both cases, CEOs are (or, at least in the case of Hostess, were) raking in the dough, while workers struggled, granted concessions, and gave up benefits and pay raises. Worker security was sacrificed on the altar of CEO mega-millions, and even mega-billions.

I'm sick of it.