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If we updated FDR’s statement at left it might go like this:

“Do not let any calamity-howling executive with an income of $40,000 a day,…tell you…that a wage of $392 a week is going to have a disastrous effect on all American industry.”

And a new study released today by the Economic Policy Institute provides lots of hard numbers that demonstrate just how beneficial a hike in the federal minimum wage from $7.25 to $9.80 would be (both to average families and the economy as a whole).

Key findings include:

-Increasing the federal minimum wage to $9.80 by July 1, 2014, would raise the wages of about 28 million workers, who would receive nearly $40 billion in additional wages over the phase-in period. Read More

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Many of you have probably seen this little video from a while back from the almost always funny and provocative Bill Maher, but it seems worth promoting again this morning in the aftermath of last night’s orgy of economic success/excess. Maher’s insightful point is one that I and a lot of other progressive sports fans have made over the years.

(And, as last night’s game demonstrated, the rich (i.e. the New York Giants) can still fare extremely well — even in a collectivist enterprise like the NFL).

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A few weeks back, we told you about how far right politicans and their adjunct staffs in the supposedly independent ”think tanks” were turning the formerly wonkinsh and sober Revenue Laws Study Committee into a kind of ultra-conservative mosh pit.

In case you had any notion that the meeting we described (in which a national business lobbyist railed about the estate tax on the wealthy as some kind of Commie plot) was some sort of an aberration, check out the agenda for tomorrow’s meeting of the same group. In particular, note item VI – “Repeal North Carolina Estate Tax.”  They’ve even scheduled a skeptic of the pre-ordained result just to make everything “fair and balanced.”

Ah, yes…the plutocrats give their orders and the hired help carries them out.