Tag: income

11 People Talk About Confronting Racist Salary Discrimination at Work

As companies across the United States scramble to address racism in the workplace in light of anti-police violence, the stories employees are sharing are at odds with the pro-diversity initiatives employers are cobbling together. Black, brown, and Indigenous people are highlighting that performative “changes” expressed in well-intentioned but tone-deaf emails from CEOs, reading groups, and […]

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Second Stimulus Check, Unemployment, Stocks and More During Coronavirus Pandemic

ImageCredit…Robert Neubecker We’re here to help. The pandemic has put millions of people out of work, forced painful sacrifices and put many in the position of needing help they never imagined would be necessary. We assembled this guide to connect you with information about government benefits, free services and financial strategies to get you through […]

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Covid-19 and the Rural Fear of ‘Taking Advantage’

CLINTON, Ark. — After a brief shutdown to hinder the coronavirus’s spread, Arkansas began opening up, slowly and cautiously, on May 11. Businesses are placing limits on the number of customers they will serve at any one time, and social distancing and mask wearing is still required in establishments like restaurants. The state’s Republican governor, […]

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As Unemployment Soars, Lawmakers Push to Cover Workers’ Wages

WASHINGTON — One of the most progressive lawmakers in the House and one of the most conservative in the Senate, staring down a pandemic-driven unemployment rate at its highest level since the Great Depression, have come to the same conclusion: It’s time for the federal government to cover workers’ salaries. As Congress prepares to wage […]

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Covid-19’s Race and Class Warfare

People — mostly white, sometimes armed, occasionally carrying Confederate flags or hoisting placards emblazoned with a Nazi slogan from the Holocaust — have been loudly protesting to push their state governments to reopen business and spaces before enough progress has been made to contain the coronavirus. This is yet another illustration of the race and […]

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Why Americans Need a Guaranteed Income

Nancy Pelosi, the speaker of the House, on Monday said what many in her caucus have been saying for weeks: A guaranteed income to help Americans struggling because of the coronavirus pandemic is “worthy of attention.” As recently as just a few months ago, an income guarantee was widely written off as unrealistic. But two-thirds […]

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To Fight Coronavirus, Poor Nations Need Their Debt Canceled

ADDIS ABABA, Ethiopia — On April 15, Group of 20 countries offered temporary relief to some of the world’s lowest-income countries by suspending debt repayments until the end of the year. It is a step in the right direction and provides an opportunity to redirect financial resources toward dealing with the coronavirus pandemic. But if […]

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Job or Health? Restarting the Economy Threatens to Worsen Economic Inequality

WASHINGTON — Efforts to quickly restart economic activity risk further dividing Americans into two major groups along socioeconomic lines: one that has the power to control its exposure to the coronavirus outbreak and another that is forced to choose between potential sickness or financial devastation. It is a pick-your-poison fact of the crisis: The pandemic […]

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What to Know About Taking Social Security in the Pandemic

The trend has been moving in a positive direction: Over the past decade, far more workers who are eligible for Social Security have been waiting to file, often substantially increasing their lifetime annual benefits. But the stunning job losses in the pandemic-induced economic crisis could bring this trend to a crashing halt, as suddenly unemployed […]

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Coronavirus Crisis Underlines Weak Spots in U.S. Economic System

An indelible image from the Great Depression features a well-dressed family seated with their dog in a comfy car, smiling down from an oversize billboard on weary souls standing in line at a relief agency. “World’s highest standard of living,” the billboard boasts, followed by a tagline: “There’s no way like the American Way.” The […]

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Swift Aid Payments Keep Berlin’s Self-Employed Afloat Despite Shutdown

BERLIN — When Germany shut down public life to halt the spread of the new coronavirus last month, Laurenz Bostedt, a freelance photographer, watched as one contract after another was canceled, until his entire expected income had disappeared. On Tuesday, 5,000 euros, or about $5,400, landed in his bank account, just three days after he […]

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New Hurdles to Coronavirus Stimulus Appear for the Needy

In the sweeping economic recovery package that Congress passed last week, the federal government promised payments of up to $1,200 to most American adults, including those with little income or none at all. But millions of people most in need of help will face hurdles to getting the money they’ve been told is on the […]

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The Case for a Rent Moratorium

Last week, the U.S. Senate approved a $2.2 trillion coronavirus stimulus package. It includes many important elements, such as expanded unemployment benefits, and emergency aid for small businesses and hospitals hit hard by the crisis. This is a step in the right direction, but it is not enough. We need Congress to enact an immediate, […]

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Push for Cash in Rescue Package Came From Unlikely Source: Conservatives

WASHINGTON — The idea to funnel cash directly to millions of Americans to help them weather the economic disaster ravaging the globe amid the coronavirus pandemic got its jump-start not from the liberal left, but from a more unlikely source: the most conservative reaches of the Republican Party. Recognizing a looming calamity for anxious people […]

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Pay Your House Cleaner Anyway

MISSOULA, Mont. — This past week of coronavirus chaos brought a familiar feeling: a moment of confusion and weightlessness — then an immediate fall, like a cartoon character who ran out of solid road. As a single mother for 10 years, I brought in around $12,000 annually. I mainly worked as a house cleaner just […]

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Andrew Yang May Be Out, but Universal Basic Income has Legs

For more than two years, Andrew Yang traveled the country as a presidential candidate trying to convince voters that a crisis was coming. The economy was going to evolve, he warned, jobs would be automated away in droves and many Americans were going to find themselves at home without a paycheck. “And now,” Mr. Yang […]

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Coronavirus Scams: How to Avoid Them

Shortly after the stock market began its initial descent, Rob Phelan, a high school math teacher in Maryland, received an email sales pitch: “The Coronavirus may be Fatal — to Your Retirement Savings!” The note, punctuated with exclamation points, offered a seemingly magical solution, something called a fixed-index annuity. Its “value can only go up!” […]

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Retiring Into a Shaky Market? Think Long Term Anyway

If you’re on the cusp of retirement or have just stopped working, it’s hard to tune out the stock market’s recent gyrations. Most investors who are still saving can safely ignore the headlines, turn off the television and go on with their lives. New retirees may feel they’re in a more precarious position. But maintaining […]

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Your 8 Most Vexing Tax Questions, Answered

Filing your tax return may make your head hurt again this year. For only the second time, Americans must cope with the new set of rules that sprang from the tax overhaul enacted by Congress in 2017. Many people are still adjusting to the law’s quirks, while puzzling over other legislative changes that came at […]

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The Rich Will Win at Coronavirus Because Of Course They Will

This article originally appeared on VICE Canada. As the novel coronavirus (COVID-19) pandemic threat continues to escalate internationally, governments around the world are taking serious steps to prevent virus contraction and spread. China has pursued the most aggressive measures to stymie coronavirus spread by sparking massive lockdowns and electronic surveillance of its population. In Canada, […]

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Aging, Rising, Brainy, Booming: Super Tuesday Economies Pose Wider Test

The first few contests in the Democratic presidential primary race have been fought in states that are small and somewhat quirky economically. There aren’t many states where voters care as much about ethanol subsidies as they do in Iowa, or where culinary unions wield as much power as in Nevada. All of that will change […]

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The Liberal Economists Behind the Wealth Tax Debate

BERKELEY, Calif. — One of the most liberal policy proposals animating the Democratic presidential primaries is the handiwork of two French economists who are not formally advising any campaign and have barely met the candidates running for the White House. Gabriel Zucman and Emmanuel Saez are the driving force behind proposals for a wealth tax, […]

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Never Mind the Internet. Here’s What’s Killing Malls.

It has been a tough decade for brick-and-mortar retailers, and matters seem only to be getting worse. Despite a strong consumer economy, physical retailers closed more than 9,000 stores in 2019 — more than the total in 2018, which surpassed the record of 2017. Already this year, retailers have announced more than 1,200 more intended […]

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Got a Raise? It’s Time to Bump Up Your Savings, Too

Getting a raise is a good thing, right? It is unless you increase your spending each time you get a bump in pay. The result may be that you’ll fall short of what you need for retirement. Raises, oddly, “can actually make it harder to achieve a comfortable retirement,” according to a new analysis from […]

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