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Today in Labor History

November 19, 1954
The nation’s first automatic toll collection machine was used at the Union Toll Plaza on New Jersey’s Garden State Parkway. Union Communication Services

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It’s Still the Economy, Stupid
Posted On: Jul 06, 2018
July 6, 2018  | ECONOMY | By focusing attention on issues such as immigration and Korea, Trump has managed to deflect attention from the economic resentments that helped get him elected—namely, outrage that the rules are rigged on behalf of the wealthy and the powerful…According to the latest tabulation by Americans for Tax Fairness (ATF), the total value of share buybacks has been $503 billion since the tax act was passed in last December. Corporations have spent 72 times on share buybacks what they have spent on one-time worker bonuses and raises. About 40 percent of all stocks are held by the top one percent, and most of the rest by the wealthiest ten percent, so this is a pure gift for the rich… American Prospect  Related: Economists expect wage pressures to continue building as part of increasing inflation...CNBC
 
 
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