News
Institute for Policy Studies Report: Corporations Change Rules to Increase CEO Pay During Pandemic, Layoff Workers
The details are in this report: https://ips-dc.org/how-corporations-pumped-up-ceo-pay-while-their-low-wage-workers-suffered-in-the-pandemic/ Just one juicy detail among many: “Hilton CEO Christopher Nassetta had the largest paycheck among the rule-rigging companies. After he failed to meet the goals associated with his multi-year stock awards, the board “modified” the awards by disregarding poor 2020 financial results and changing the performance metrics. Those maneuvers inflated his total compensation to $56 million — 1,953 times as much as the company’s median worker pay of $28,608 in 2020.” The article suggests support for the Tax Excessive CEO Pay Act, currently in Congress, which would impose a graduated tax depending on …
Studies Show Covid Deaths Know No Color
Confirming our studies earlier this year of Covid-19 deaths in New York, Chicago, and Los Angeles, big new studies use different methods to demonstrate that deaths are the result of exposure rather than race. To quote the article: “The new findings do not contradict an enormous body of research showing that Black and Hispanic Americans are more likely to be affected by the pandemic, compared with white people. The coronavirus is more prevalent in minority communities, and infections, illnesses, and deaths have occurred in these groups in disproportionate numbers. “But the new studies do suggest that there is no innate …
The Wealth of Billionaires Goes Up During Pandemic!
Inequality.org has been tracking the wealthy for a while now, and announced last week that the combined wealth of US billionaires has gained more than $1 trillion since March 2020, the beginning of the pandemic. Their story is here.
The NY Times, Covid, and race. Plus, lately, income.
We’re collecting New York Times articles on COVID-19, race, and class to better understand how the media is accounting for the spread of the virus. We’ve noticed that some of these accounts leave out any mention of income or occupation, while others tend to conflate poverty with people of color. Our research suggests that occupation and income are major factors in determining who is getting sick and who is dying. Race, clearly, is a critical factor, even more so when combined with lower-income occupations deemed “essential.” Being a recent immigrant from Latin America, especially an undocumented one, also is a …
Read moreThe NY Times, Covid, and race. Plus, lately, income.
President Donald Trump Culls the Herd
Here is the chilling truth: To win reelection Trump is willfully allowing the virus to kill more and more of us, especially our most vulnerable—the old, the infirm, the poor, and the essential low-wage workers. By Les Leopold President Trump has finally made public his fateful choice. He’s all in on reopening the economy even if it sends the virus death count into the millions. Actually he made that choice long ago. His logic is simple but cruel. Before the virus struck, his re-election hinged on taking credit for the robust economy he inherited. With unemployment at record lows he …
Beware of Trump’s China Box
Our best path out of the Trump China box is to put him in a box he can’t get out of. By Les Leopold As Covid-19 deaths and unemployment soar, Trump’s reelection chances depend on three factors: 1) the Democrats making significant electioneering mistakes; 2) the Trump campaign finding ways to discourage Democrats from voting for Biden; and 3) a massive propaganda war against China. We should get used to gaffs from Biden and the Democrats. They’re inevitable, but with forethought they need not be earth shattering. The bigger problem is how the Trump campaign will confuse and divide Democrats …
The Numbers Trump Can’t Spin
Total Deaths and Job Loss By Les Leopold As November nears Trump will continue to bombard us with a dizzying array of statistics that he hopes will demonstrate how great a job he and his administration are doing. We do the most testing in the world. We’re making the most ventilators. We build the most hospital beds. And we will soon again have the best economy in the history of the world. But there are two numbers Trump can’t explain away: total deaths and job loss. He and his handlers had hoped that the final toll would follow from the …