Business & Economy

Numbers game

Economy | What census figures on poverty say-and don't say
by Marvin Olasky
Posted 9/18/04, 12:00 am

Census Bureau reports usually don't get much publicity, but one released at the end of August did. During this hotly contested presidential race, the bureau's report that 1.3 million Americans joined the ranks of the poor between 2002 and 2003 gave Democratic vice presidential candidate John Edwards an opportunity: "George Bush and Dick Cheney like to say they should be returned to office to continue the good they're doing for the country. Well, I don't know how much more of this good the country can take."

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Boom soon

Business | Higher payroll taxes isn't the way to fix Social Security, according to Fed chairman Alan Greenspan
by Dan Perkins
Posted 9/11/04, 12:00 am

With 77 million baby boomers nearing retirement age, few people believe the nation's Social Security system will be able to provide them with the same level of funding that their parents received. Among those calling for changes is Federal Reserve Chairman Alan Greenspan.

"If we have promised more than our economy has the ability to deliver, . . . as I fear we may have, we must recalibrate our public programs so that pending retirees have time to adjust through other channels," Mr. Greenspan said on Aug. 27. "If we delay, the adjustments could be abrupt and painful."

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100K plus overtime?

Business | New rules change the eligibility requirements for receiving overtime pay
by Dan Perkins
Posted 9/04/04, 12:00 am

There's no proof that recent revisions to the Fair Labor Standards Act will exacerbate the disparity between the rich and poor, despite claims to the contrary made by labor unions and critics of the Bush administration.

The new rules change the eligibility requirements for receiving overtime pay, basing them on more stringent salary restrictions and job duties. These are changes that employers have sought for decades, particularly questioning why highly paid professionals should receive overtime pay.

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