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Welcome to You’re Probably Getting Screwed, a weekly newsletter and video series from J.D. Scholten and Justin Stofferahn about the Second Gilded Age and the ways economic concentration is putting politics and profits over working people.
You're Probably Getting Screwed by Labor Monopolies
The FTC has provided a blueprint for states looking to protect workers.
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Welcome to You’re Probably Getting Screwed, a weekly newsletter and video series from J.D. Scholten and Justin Stofferahn about the Second Gilded Age and the ways economic concentration is putting politics and profits over working people.
Is the FTC here to help?
The Federal Trade Commission has announced formation of a Joint Labor Task Force that will prioritize investigating corporate conduct that harms workers in violation of antitrust and consumer protection laws.
While there are plenty of reasons to be skeptical of the Trump Administration’s commitment to this, at the very least there is an opportunity to push state legislators. Much of the conduct FTC Chair Andrew Ferguson identifies as harmful to workers, are things states can tackle.
If GOP state legislators want to follow the lead of a top Trump antitrust enforcer, they should be introducing bills to ban noncompete clauses, address wage-fixing, and strengthen state antitrust laws against the fissured workplace.
Regardless of whether this represents a true bipartisan focus on how monopolies screw workers or not, legislators should be pushed to act. So call yours, whether Republican or Democrat, today!
YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:
Cuts to Social Security
According to reporting by CNBC, recent actions at the U.S. Social Security Administration by Elon Musk’s so-called Department of Government Efficiency are putting monthly benefit checks for more than 72.5 million Americans at risk.
Former Social Security Commissioner and former Maryland Gov. Martin O’Malley said “Ultimately, you’re going to see the system collapse and an interruption of benefits. I believe you will see that within the next 30 to 90 days.” He added, “people should start saving now.”
Low Wages
America doesn’t have a “hard work” problem, we have a honoring the dignity of work problem.
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Tariffs
A recent study from the Peterson Institute for International Economics estimates the new tariffs could cost the average U.S. family more than $1,200 per year. Meanwhile the impact on farmers could be significant. For example, with almost all potash, a key ingredient in fertilizer, imported from Canada it could send prices rising. The President of Minnesota Farmers Union Gary Wertish said, "It's very disappointing that President Trump's going to put another round of tariffs on.” Meanwhile Trump has told farmers to “Have Fun.”
This Administration
Things aren’t looking great.
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Elon Musk
Continues to suck… And Professor Galloway continues to keep it real about him.
Meanwhile, if DOGE wants to make cuts they can start with the $38 BILLION of taxpayer money that goes to Elon’s businesses.
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Some Good News
Great Interview
Be sure to check out Organized Money’s interview with former FTC Chair Lina Khan.
Book Club is Back!!!
March's book is “Democracy in Power” by Sandeep Vaheesan, the legal director at the Open Markets Institute.
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You can purchase “Democracy in Power” here. And be sure to send in your questions for Sandeep by commenting below.
BEFORE YOU GO
Before you go, I need two things from you: 1) if you like something, please share it on social media or the next time you have coffee with a friend. 2) Ideas, if you have any ideas for future newsletter content please comment below. Thank you.
Break ‘Em Up,
Justin Stofferahn
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