With threats of homelessness and bankruptcy in the air as the eviction moratoriums subside, both renters and small landlords are getting pinched by predatory tech capitalism as the gig-economy hits the real estate market.
In 2014, former Blackstone and Goldman Sachs investment banker Ryan Williams got together with his “college buddy,” Joshua Kushner – Jared’s brother – to form a real estate investment platform they called Cadre. Cadre sought to disrupt the real estate industry in the wake of the 2008 subprime mortgage crisis by tinderizing property deals through a tech platform that brought investors and sellers together. According to Williams, whose other investors include George Soros and Peter Theil, Cadre’s mission is “to level the playing field in an industry that is often tilted toward the biggest players” by taking an “offline” industry online and making it “transparent.”
A pre-Covid initiative to capitalize on its platform came in the form of the so-called “opportunity zones,” that Jared Kushner directly lobbied for inclusion in Trump’s 2017 Tax Cut and Jobs Act, billed as a funding mechanism to help poor and distressed communities, which turned into a multi-billion-dollar land heist by the wealthiest Americans, like the Kushner family. The pandemic lockdown protocols forced Cadre to downsize, laying off 25 percent of its workforce in March. Continue reading →
NYC DOT joined the Mayor’s Office for People with Disabilities in the first ever Disability Pride NYC Parade on Sunday, July 12, 2015. Photo: NYC DOT/flickr/CC
The U.S. Commission on Civil Rights’ recommendation that Congress repeal Section 14(c) of the Fair Labor Standards Act—which allows employers to pay employees with disabilities less than the federal minimum wage—was praised Thursday by numerous Democratic lawmakers.
According to the USCCR’s report—titled “Subminimum Wages: Impacts on the Civil Rights of People with Disabilities” (pdf)—there are over 1,500 “sheltered workshops,” separate work centers where employees with disabilities are “not integrated into a broader community or work setting,” in the U.S. that employ over 100,000 people. Continue reading →
Days after the payroll processor for the federal government—one of the nation’s largest employers—announced it would implement President Donald Trump’s plan to defer payroll taxes for the rest of 2020, the U.S. Treasury Department indicated that employers will be responsible for paying the deferred taxes next year.
The plan is scheduled to go into effect September 1, and companies that take part will be required to collect the taxes their employees owe from the last four months of this year at the beginning of 2021—after the general election, which Trump hopes to win with claims that he’s strengthened the economy and helped workers. Continue reading →
“Trump’s disastrous plan to defund Social Security would eliminate retirement and disability benefits by 2023,” said Sen. Bernie Sanders. “That may make sense to the billionaires at Trump’s country club, but it makes zero sense to me.”
Hundreds of union activists rally at the Minneapolis Social Security Field Office on Wednesday, August 27, 2014. (Photo: AFGE/Flickr/cc)
The Social Security Administration’s chief actuary estimated late Monday that eliminating the payroll tax would fully deplete Social Security’s disability and old-age trust funds by 2023, confirming the disastrous consequences progressive advocacy groups and lawmakers have been warning of since President Donald Trump threatened earlier this month to “terminate” the levy if reelected in November.
In a letter (pdf) to Sens. Chris Van Hollen (D-Md.), Bernie Sanders (I-Vt.), Ron Wyden (D-Ore.), and Senate Minority Chuck Schumer (D-N.Y.), SSA chief actuary Stephen Goss wrote that scrapping the payroll tax would “permanently” deplete the Disability Insurance trust fund by mid-2021 and the Old Age and Survivors Insurance trust fund by mid-2023 “with no ability to pay” the benefits afterward. Continue reading →
The Flint water crisis began in 2014 after the city switched the Flint River as its drinking water source to save money. (Photo: George Thomas/Flickr/cc)
Six years after residents in Flint, Michigan began relying on their polluted local river as a drinking water source at the behest of Republican state officials looking to save money, the state on Thursday announced details of an historic $600 million settlement, reached after 18 months of negotiations.
Michigan Gov. Gretchen Whitmer and Attorney General Dana Nessel noted that the settlement still has to be approved by a federal judge, but revealed that once finalized, the state would set up a claims process through which tens of thousands of Flint residents could receive compensation. Continue reading →
On top of serious questions about the directive’s legality and workability, experts are warning that President Donald Trump’s executive action to extend the federal unemployment insurance boost at $400 per week—using $44 billion in funds meant for disaster relief—leaves out the poorest Americans by design.
The language of Trump’s unemployment memorandum issued over the weekend defines “eligible claimants” as those receiving “at least $100 per week” in state unemployment benefits—meaning that laid-off workers currently receiving less than $100 per week in aid will not see a dollar in federal relief unless states agree to increase their benefits. Continue reading →
President Donald Trump confirmed Tuesday that he is considering circumventing Congress to unilaterally suspend collection of the payroll tax, a move advocacy groups and lawmakers said would be an “unconstitutional” abuse of power and a destructive attack on Social Security funding.
Trump said during a Covid-19 press briefing that his administration is examining a variety of potential executive orders should Congress fail to reach an agreement on the next stimulus package by the end of the week, a deadline Democratic leaders and the White House set on Tuesday. Continue reading →
In a floor speech late Monday, Senate Majority Leader Mitch McConnell described the GOP’s newly released coronavirus stimulus package as a “carefully tailored” plan to provide financial relief to desperate Americans.
But a look at the legislative text (pdf) released by Senate Republicans shows the HEALS Act is replete with massive gifts to the Pentagon and defense contractors that would do nothing to aid the unemployed, provide nutrition assistance to hungry children, prevent an avalanche of evictions, or stop the spread of coronavirus. Continue reading →
With Republicans in Congress intent on drastically reducing aid for unemployed Americans and altering the Paycheck Protection Act in the next coronavirus relief bill, workers across the country are rapidly losing hope that they will ever be able to return to their jobs, according to new polling.
A survey released Friday by AP-NORC found that while 78% of workers who were furloughed or laid off in the early days of the pandemic believed in April that they’d be able to return to work eventually, just 34% are optimistic about their prospects now. Just 18% have already returned to their jobs, and 47% say they no longer believe their old jobs will be available ever again. Continue reading →