Become a Patron! I've been following with interest the development and passage of AB 5, California's attempt to end the misclassification of employees, especially at app-based and platform companies including household names like Uber and Lyft. What I found is that there's a high degree of confusion surrounding the need for the bill, whom it will affect and how, and why … [Read more...] about California’s AB 5 is about benefits, not wages or unions
social security
Job protection, wage insurance, and universal benefits
Become a Patron! As readers may have observed, I've been doing a lot of research lately on paid family and medical leave policies around the country, and I've found myself frustrated by the way several different ideas are confusingly and unnecessarily combined. Today I want to spell out the relevant issues, and try to explain how they do and don't interact with each … [Read more...] about Job protection, wage insurance, and universal benefits
What will the Social Security funding “crisis” look like?
Become a Patron! When ignorant people want to sound serious, they start solemnly intoning about the Social Security funding crisis and the need for a "long-term" "fix" to the "problem." This serves three useful purposes: it allows the speaker to change the subject from any actual problems existing today, it provides the superficial cover of concern for vulnerable … [Read more...] about What will the Social Security funding “crisis” look like?
The SECURE Act and the defects of the centrist mind
Become a Patron! I've written previously about the SECURE Act, the House version of a measure designed to encourage employers to allow employees to gamble their retirement savings on the long-term financial stability of private insurance companies. The measure has since cleared the House but is currently being held up in the Senate for now by Ted Cruz who is trying to turn … [Read more...] about The SECURE Act and the defects of the centrist mind
Roth 401(k)’s are different, but they’re not special
Become a Patron! The other day I got into a very frustrating argument with a popular anonymous Finance Twitter account about the epistemology of 401(k) savings vehicles. The frustration arose from a very specific phrase he used to describe one of the benefits of a Roth 401(k) over a traditional 401(k): "you’re able to contribute more with a Roth 401k." This is such a strange … [Read more...] about Roth 401(k)’s are different, but they’re not special