Tag: affect

How slashed state budgets affect female teachers and public schools

  • Women, especially teachers, are carrying much of the financial burden as states slash budgets and education spending during the pandemic.
  • June Carbone, Nancy Levit, and Naomi Cahn are law professors tracking how the pandemic is affecting women and contributing to inequality in all types of industries, from public schools to hedge funds.
  • They found that the percentage of women working as K-12 teachers is growing, but the diminishing education budget is leading to lower pay and fewer promotions and leadership opportunities. 
  • Providing government assistance to states — also known as countercyclical assistance — and advocating for more federal control over state budgets could help public schools and teachers pull through. 
  • Visit Business Insider’s homepage for more stories.

States are seeing enormous budget shortfalls because of the coronavirus pandemic, and the consequences for teachers and other public school employees could be dire. At least 640,000 education jobs in state and local government vanished between February and August 2020.

The states, which provide an average of about 47% of US public school funding, are cutting school spending because their tax revenue is declining and they have no easy recourse to balance their budgets; unlike the federal government, states can’t just print money.

Negotiations continue around another pandemic relief bill, which would include money for states to spend on public education. But lawmakers have passed no measures since May, when the House of Representatives passed a $3 trillion coronavirus relief bill that stalled in the Senate.

We study families, employment, corporations — and gender. We are tracking how the coronavirus pandemic is underscoring the disproportionate financial burden women bear when states slash their budgets in times of recession.

Without sufficient federal aid, recessions have historically prompted job losses, pay cuts, and high turnover that burden school districts for years. Because most public school teachers are women, they are affected more.

We are examining this issue and others more deeply in a book we are writing called “Shafted: The Fate of Women in a Winner-Take-All World.” It explores the jobs women do from public schools to Walmart or hedge funds and demonstrates that the forces that have produced a highly unequal economy have undermined women’s well-being.

What we’ve found so far is that women in almost every field have lagged behind men in pay, promotions, and leadership opportunities. And in K-12 schools, this issue can appear starkly.

The government’s role

Historically, the federal government has implemented policies aimed at keeping the economy afloat during recessions.

During the Great Recession, for example, the 2009 stimulus package included money that cushioned the impact of the recession on the states. Economists largely agree that the policy worked. The spending bolstered state budgets, helping to prevent massive layoffs and prompt the start of a recovery.

Nationwide, education spending averages about 30% of state budgets, with two-thirds of the funds supporting K-12 education. More specifically, the average state expenditures are 21% on elementary and secondary education and 10% on higher education.

After Republicans swept Congress in 2010, however, the

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New law could affect your retirement planning | Opinion

If you have been putting money aside every year in an employer-sponsored 401(k) or 403(b) defined contribution plan, an individual retirement account (IRA) or a self-employed retirement account (SEP-IRA), the new law gives you a longer holding period before you need to start withdrawing and paying taxes on those funds.

If you have been putting money aside every year in an employer-sponsored 401(k) or 403(b) defined contribution plan, an individual retirement account (IRA) or a self-employed retirement account (SEP-IRA), the new law gives you a longer holding period before you need to start withdrawing and paying taxes on those funds.

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With all the breaking news from Washington, you may have missed the passage of a new U.S. law that could affect your retirement planning. On Dec. 21, President Donald Trump signed the Setting Every Community Up For Retirement Enhancement (SECURE) Act after bipartisan approval by Congress.

Per Morgan Stanley, the new legislation will have the most immediate impact on Americans in their 60s who are nearing retirement. But it could eventually open the door to new retirement account options for millions of Americans who now work for small and midsize businesses. (Morgan Stanley and its financial advisors do not provide tax or legal advice, so it’s important to talk with your tax and legal advisors so you can make well-informed decisions in the changing financial landscape.)

If you have been putting money aside every year in an employer-sponsored 401(k) or 403(b) defined contribution plan, an individual retirement account (IRA) or a self-employed retirement account (SEP-IRA), the new law gives you a longer holding period before you need to start withdrawing and paying taxes on those funds.

Previously, individuals with those types of qualified retirement accounts had to start making withdrawals at age 70½ — a time when many people are still working. But if you are below that age — as of Dec. 31, 2019, you no longer have to take those required minimum distributions until age 72, under most circumstances. This change applies to distributions required after Dec. 31, 2019, with respect to individuals who attain age 70½ after such date. This change does not apply to IRA owners and participants who reached age 70½ in 2019 or earlier.

That change gives your retirement plan contributions another year or more to grow tax-deferred before you need to begin withdrawals. If you are fully or partially retired at that point, your income is likely be lower than during your prime working years, reducing your potential tax liability on those distributions.

For taxable year 2020 and beyond, the Act allows anyone that is working and has earned income to contribute to a traditional IRA regardless of age. You are able to keep contributing to your IRA after age 70½ for as long as you are still working and have sufficient earned income, you could contribute up to $7,000 a year in 2020 (or $14,000 if you are married), reducing your immediate income tax liability.

The new law also revises the rules regarding the beneficiaries of 401(k) and other qualified retirement plans. Previously, the beneficiary could stretch out the required minimum distribution amounts over his or her expected lifetime. Now, the law requires the funds to be distributed within 10 years of the death of the account holder under

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The Affect Of Government Policies On The Society

Political science has a relationship in the research of legislation. The manager department, President, may construe and discover unconstitutional the laws handed in Congress. This regulation revoked the 1919 ban on weapons. Obama did not need to use govt power to cross laws. With the courts stacked in favor of 1 political get together or the opposite the decimations of the regulation on authorized grounds change into tougher within the present setting than some other time in historical past.

Nevertheless, via conditions occurring on the time and the best way the Nazi occasion used propaganda, it was not vital for Hitler to illegally take power. The people have been duped and people controlling the FED chuckle away whereas Republicans and Democrats point the finger blaming one another for the state of the nation.

CaribeM— Thanks very much for taking the time to learn this Hub. Under the Articles of Confederation, the nationwide government was weak and had no cash or way of getting money by taxation. Iii)Every legislature in a federation is subordinate to and controlled by the constitution-The validity or unconstitutionality of its regulation relies upon upon whether or not these follow or violate the authority conferred upon it by the constitution.

A republican government is run by representatives chosen by the individuals, reasonably than by the individuals themselves. But was he able to commit mass genocide as a result of he was pro-gun control and disarmed the German individuals? Hence, the laws of the land spells out the facility ration.

The last word aim of this Invisible Government is to rework the United States into a Socialist State and then to merge the Nation right into a One World Government Socialist System. I urge each American to research and read the Agenda 21 Venture, this is towards what our ancestors fought for and wrote in the Structure, for us the American folks.…

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