Election Losses Don't Stop Corporate Efforts to Block Voter-Approved Minimum Wage Hikes
Voters spoke very clearly on November 8 when they elected to raise the minimum wage in Arizona and Maine, along with Colorado and Washington State.
But those wins, the democratic process, and the express will of the people are being defied and denied in Arizona and Maine, where corporate lobbyists and their legislative allies are working to block, delay, even rewrite the laws approved on Election Day.
A Tale of Two Retirements: The Great Divide Between CEOs and Everyone Else
The sum of the 100 largest CEO company retirement funds — $4.7 billion — is equal to the entire retirement account savings of the 41 percent of American families that have the least amount of retirement savings (this represents 50 million families and 116 million people).
On average, the CEOs’ nest eggs are worth nearly $47.5 million. If converted to an annuity at age 65, this would be enough to generate a $253,088 monthly retirement check for the rest of their lives. Contrast that with the situation for ordinary workers. For those lucky enough to have a 401(k) plan, the median balance at the end of 2013 was just $18,433, enough for a monthly retirement check of just $101 (IPS report, p. 5)
TRUMP’S CABINET OF CRONIES, BY THE NUMBERS
The 73 donors who met with Donald Trump in the past month gave the president-elect and the G.O.P. an average of more than $800,000 each.