We are supposed to be a democracy “of the people, for the people, and by the people.” U.S. lawmakers are all for more competition–just as long as they do not have to compete. This reality is underscored by the incumbency rate of almost 80% in the House and the Senate since 1964, according to a study by the Center for Responsive Politics. (more…)
There has been a lot of talk about a glass ceiling against women in business and corporate boardrooms. This week’s block by the Senate for a bill that would strengthen equal pay for women is a good example of the challenges we face regarding this issue. Moreover, very little has been discussed about women’s representation when it comes to making policies and laws. The U.S. Senate, one of the two legislative bodies, is represented by a small elite group of rich old men. Women comprise 20 percent of the Senate and 19 percent of the House of Representatives even though they make up 51 percent of the population. Sadly, the U.S. is ranked 91 in the percentage of women in the national legislatures, according to a report by American University, Men Rule – The Continued Under-Representation of Women in U.S. Politics. (more…)
Something that Washington does not want you to know about and hopes that nobody else will discuss during the minimum-wage debate is take-home pay after taxes for low-wage earners. Washington claims that Americans should be paid living wages so that they can live a decent life. However, it is not willing to give up its share of the booty that it would collect from the same low-wage earners it claims to help.
For example, the federal government will collect at least 15 percent of the increased income from those low-wage earners through payroll tax. In other words, if the minimum wage goes up by a dollar, the federal government will take away, directly or indirectly, at least 15 cents of that additional dollar from the working poor.
Asking large corporations, which are in business to make money, to pay additional wages is like asking them to be saints. Government mandates do not have a major impact on large corporations, since they will figure out a way around them. After all, they can rent lawmakers; one former senator famously declared, “My vote can’t be bought, but it can be rented.” On the other hand, politicians do not pay anything from their pockets either. They will just give the money to one group and take it from another, but not from the special-interest groups that finance their campaigns. (more…)