Posts by stephen herzenberg

Despite Changes, Senate Voucher Plan Deeply Flawed

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Next week, the Pennsylvania Senate may take up an amended plan to create the largest-in-the nation private school vouchers program.

While Senate Bill 1 was amended last week, the bill remains deeply flawed.

Don't Know Much About History ...

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Last week, we released a report at the Keystone Research Center that has me humming an old Sam Cooke song. You probably know it. It goes:

Don't know much about history
Don't know much biology
Don't know much about a science book
Don't know much about the French I took

So why am I humming this oldie but goodie?

Well, because in Pennsylvania, we don’t know much about the 38,000 students who received taxpayer-funded scholarships in 2009-10 to attend private and religious schools under the state’s Educational Improvement Tax Credit (EITC).

CEO Pay Soars While Workers’ Pay Stalls

USA Today reported last week that median CEO pay in 2010 rose 27%, compared to a 2.1% increase in the compensation of workers in private industry. (I’m guessing this is average compensation. The median compensation increase for typical workers would be lower.)

The highest-paid CEO was Viacom’s Philippe Dauman, who drew down a cool $84+ million, including $70 million in “stocks and options.”

Olbermann on Wisconsin and Unions

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Keith Olbermann has posted on his blog a powerful story that conveys one of the most critical roles that unions play. A quick excerpt:

... 'The Union' is the only protection you have when the drunken boss comes in to fire you because he doesn’t like you ...

More important perhaps, 'The Union' represents the good faith of the nation.

The Economist Agrees: People Don’t Join the Government to Get Rich

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One point we make to drive home the facts about public-sector pay is that people don’t say, “I’m leaving the private sector to go make more money.”

The Economist's Democracy in America Blog made the same observation in a recent post, Don’t join the government to get rich.

Like We Said, Policymakers Are Focusing on the Wrong Deficit

New York Times economist David Leonhardt makes two simple points in today’s paper that we made in our release last week underscoring the need for more action to create jobs.

First, output in the United States has rebounded thanks to the Recovery Act, surpassing its level before the recession. The Act, according to our estimates, saved 400,000 jobs in Pennsylvania alone.

Pa. Is Not Alone! The U.S. Has a Swiss Cheese Corporate Tax System Too

I'm shocked! The U.S. corporate tax system has enormous numbers of loopholes, according to The New York Times.

One hundred and fifteen of the biggest 500 companies paid a total corporate tax rate — federal, state, and local — of less than 20%  over the last five years, even though the federal corporate tax rate alone is 35% for most companies. There are also wide variations in the tax rates that companies pay within the same industry.

Pennsylvania Big Winner in 2010 Job Growth, New Jersey “The Biggest Loser”

There is some good news to be found for Pennsylvania in new data sizing up job performance in 2010.

While far too many Pennsylvania families are struggling in the aftermath of the worst recession in decades, the state’s economy is rebounding better – and faster – than most states.

In 2010, the Commonwealth added more than 65,000 jobs, ranking third among the 50 states in the number of jobs created. On a percentage basis (adjusting for the size of each state’s economy), Pennsylvania’s job growth was 1.2% — exceeding three-fourths of all states.

What Obama Should Say to the U.S. Chamber

President Obama addresses the U.S. Chamber of Commerce today as part of his post-election effort to improve relations with U.S. business.

What part of U.S. business does the Chamber represent? Mostly big business and corporate CEOs — people who make many millions, often without risking any of their own money. That’s the only way to explain that the extension of the Bush tax cuts for the very rich was the top Chamber priority last year — even though this won’t benefit the vast majority of businesses.