Personal Incomes

1:22pm

Tue February 11, 2014
The Salt

After 23 Years, Your Waiter Is Ready For A Raise

Originally published on Wed February 12, 2014 2:21 pm

A Denny's waitress delivers breakfast to customers in Emeryville, Calif. The tipped minimum wage has been stuck at $2.13 since 1991.
Justin Sullivan Getty Images

When Woody Harrelson's character got hired as a bartender on Cheers, he was so excited, he insisted on working for no more than the minimum wage. "I'd work like a slave," he said, "and, of course, I'd wash your car."

Most bar and restaurant workers would prefer to bring home a little more cash. They may be in luck.

As part of his plan to raise the minimum wage, President Obama has called for substantially increasing the base wage paid to tipped workers for the first time in decades.

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5:49am

Tue January 28, 2014
It's All Politics

5 Things To Expect In Obama's State Of The Union Address

Originally published on Tue January 28, 2014 12:35 pm

President Obama gestures to Vice President Joe Biden and House Speaker John Boehner before giving his 2013 State of the Union address.
Charles Dharapak AP

As President Obama prepares to deliver his State of the Union speech Tuesday evening, he does it against a backdrop of some of the lowest voter-approval ratings of his presidency, with a divided Congress that has largely stalled his second-term agenda and with Washington's collective focus starting to shift toward the midterm elections and beyond.

Here are five things to expect from the president in his fifth State of the Union speech:

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2:51am

Fri January 17, 2014
Planet Money

The Birth Of The Minimum Wage In America

Originally published on Fri January 17, 2014 2:46 pm

Franklin D. Roosevelt Libarary

In 1895, legislators in New York state decided to improve working conditions in what at the time could be a deadly profession: baking bread.

"Bakeries are actually extremely dangerous places to work," says Eric Rauchway, a historian at the University of California, Davis. "Because flour is such a fine particulate, if it gets to hang in the air it can catch fire and the whole room can go up in a sheet of flame."

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3:03am

Thu December 5, 2013
Business

Banks Come Under Fire For Filling In The Payday Loan Gap

Originally published on Thu December 5, 2013 2:05 pm

Federal regulators are setting new rules for banks that offer deposit advances.
iStockphoto

A payday loan is a costly form of credit operating on the fringes of the economy. That's why the target of a new crackdown by federal regulators may surprise you: Instead of a forlorn-looking storefront with a garish neon sign, it's your familiar neighborhood bank.

A small but growing number of banks, including some major players, have been offering the equivalent of payday loans, calling them "deposit advances."

That is, at least, until bank regulators stepped in Nov. 21 and put new restrictions on the loans.

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9:34am

Wed September 18, 2013
Business

Proposed Rule Would Make Companies Disclose CEO-To-Worker Pay Ratio

Originally published on Wed September 18, 2013 1:58 pm

Warren Buffett, chairman and CEO of Berkshire Hathaway, bucks the trend on executive pay, with a salary only 11 times what the company's average worker makes.
Kevork Djansezian Getty Images

Update At 12:30 p.m. ET. SEC Approves Rule:

The Securities and Exchange Commission has voted 3-2 to move the proposed rule ahead, with the two Republican commissioners opposing the measure.

The rule now goes for a 60-day public comment period, after which it could be formally adopted.

SEC commissioners also voted unanimously to require municipal advisers to register with the agency.

Here's our original post:

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