IMF managing director Kristalina Georgieva said Thursday that slower economic growth would be a ‘severe blow,’ making it even harder for low-income nations to catch up
Former Rep. Chris Collins
Collins, a Republican from New York, was sentenced to serve two months in federal prison after he admitted to helping his son and others dodge $800,000 in stock market losses when he learned that a drug trial by a small pharmaceutical company had failed. He was the first member of Congress to endorse Trumpâs presidency. AP FILE
Former Rep. Duncan Hunter
Hunter, a Southern California Republican, was sentenced in March to 11 months in prison after he pleaded guilty to stealing about $150,000 from his campaign funds to pay for a lavish lifestyle, from vacations to outings with friends, private school tuition and his daughterâs birthday party.
Senior Democrats explore tax largely hitting Fortune 1000 companies not paying $15 an hour
Jeff Stein and Erica Werner, The Washington Post
Feb. 27, 2021
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The U.S. Capitol is seen in Washington, D.C., on Feb. 26, 2021.Washington Post photo by Salwan Georges.
WASHINGTON - Senior Democratic lawmakers trying to find a backup plan to a minimum-wage increase are exploring new tax penalties on firms with more than $2.5 billion in gross receipts that do not pay at least $15 an hour, according to two people familiar with the matter.
The measure, which aides cautioned was still under discussion and subject to change, would aim to levy a 5% annual tax on these large corporations if they pay below $15 an hour, according to the two people, who spoke on the condition of anonymity to share details of private deliberations. Democrats might aim to ratchet up the 5% penalty over time for large firms that do not increase their wages, although that measure is also preliminary and could change, the people said.
Biden faces first potential Cabinet defeat as opposition grows to budget-office nominee
Seung Min Kim, Annie Linskey and Jeff Stein, The Washington Post
Feb. 22, 2021
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1of3Sen. Susan Collins, R-Maine, talks with reporters on Feb. 11, 2021.Washington Post photo by Katherine FreyShow MoreShow Less
2of3Sen. Joe Manchin, D-W.Va., arrives at the Senate Metro station on Friday, Feb. 12, 2021.Washington Post photo by Demetrius FreemanShow MoreShow Less
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WASHINGTON - President Joe Biden was on the cusp of his first Cabinet defeat Monday as two closely watched GOP senators announced their opposition to Neera Tanden, his pick to be the nation's chief budget official, potentially dealing a major blow to an administration that has struggled to fill top posts across the government.
Point/counterpoint: $15 minimum wage - Raising living wage is a start
Dean Baker
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The standard argument against raising the minimum wage is not supported by the evidence.
We now have considerable experience with state and local governments having substantial increases in their minimum wages. Several cities, including New York, San Francisco and Seattle, already have a $15 an hour minimum wage. California’s statewide minimum wage is now at $14 an hour and is scheduled to hit $15 an hour for mid-size and large employers next year and all employers in 2023.
Dozens of economists have carefully analyzed these minimum wage hikes. To the surprise of many, including me, there is no evidence that these minimum wage increases have led to job loss. Instead, they have resulted in substantial improvements in living standards for millions of low-wage workers.
that produces inefficiency and corruption. but republicans are now apparently comfortable with government intervention, as long as it's for the right people. it is also now a party that has developed a total contempt for experts and expert analysis. consider that trump's tariffs are opposed by a remarkable array of scholars across the political spectrum, from the conservative heritage foundation, to the kato institute, to the center-left brookings institution, to the left-wing center for economic and policy research. the white house barely offers serious arguments about it, instead providing a bogus argument for the tariffs, even though china provides only a tiny portion of these goods to the united states. despite research showing that previous protectionist policies have failed, that the steel industry has lost more jobs due to efficiency in automation than to trade and that preserving one job in the steel/automobile industry through tariffs can cost consumers a whopping $1.5
is economist dean baker, co-director of the center for economic and policy research. on the one hand, you have to false exaggerated claims of his role. on the other hand even if his role were saving these jobs, they are a tiny, tiny drop in the bucket by any national standard. >> i joke about this. we're getting carrier shows and what we need is policy. you have the chart to put in the further context. we have over 12 million manufacturing jobs in the country so what donald trump's talking about is somewhere on the order of one one hundredth of one percent of those jobs. and what we care about is the policy. over the last six month, the dollar has risen about 10% against the euro, the british pound, the japanese yen, other major currencies. that's going to swamp the impact of these individualized deals. >> i wonder if you're speaking a different language, though. when you said we care about the