‘We deserve more’: US workers’ share of the pie dwindles – Guardian
“This week, the Bureau of Labor Statistics released its latest estimate for the share labor receives of national income for the first quarter of 2024. The statistics shows the income workers receive compared with the productivity their labor generates.
“According to BLS, this income share has declined for non-farm workers from about two-thirds, 64.1% in the first quarter of 2001, to 55.8% in the first quarter of 2024.”
Stock buybacks are lethal, literally – Robert Reich
“Large corporations are now devoting nearly 70 percent of their profits to buybacks. Stock buybacks have also become a major force behind widening inequality. They mostly benefit CEOs and the richest 1 percent of the public, who own more than half of all shares of stock owned by Americans.
“There is no reason for them. Before Ronald Reagan’s SEC allowed them in 1982, buybacks were treated as illegal stock manipulations in violation of the 1933 and 1934 Securities and Exchange Acts.”