In a year when the debate over income inequality has reached fever pitch, when Thomas Piketty's "Capital in the 21st Century" has become a national best-seller and populism has swept politics from the left wing to the right, state government in Albany has responded by ... wait for it ... taking big steps to make New York's worst-in-the-nation inequality even worse.
This year's state budget eliminated the bank tax, giving Wall Street billions in benefits over the next decade. Lawmakers dramatically reduced estate taxes for heirs and heiresses inheriting million-dollar fortunes.
And they protected New York City millionaires from a reasonable tax that would have paid for a big expansion of pre-kindergarten programs, sending the bill to all of the taxpayers rather than those most able to pay their fair share.
There's still time left for Albany to do one big thing that would make New York's economy more fair.
Gov. Andrew Cuomo, top lawmakers, labor leaders and progressive activists from the Working Families Party have come out strong for a three-part minimum wage package that would really move the needle on wages and inequality. The legislation up for consideration this week would:
Increase New York's statewide minimum wage to $10.10 per hour.
Index it for inflation.
Allow cities and counties to approve a higher local wage up to 30 percent above the statewide level, when and where it makes sense and only when approved by local legislatures and executives.
A $10.10 minimum wage with indexing would mark a huge victory for millions of workers across New York. And the middle-ground local wage option agreed to by Cuomo would help high-cost areas of our state address local needs without causing chaos or disruption for businesses.
Fast-food and other low-wage workers fighting for better pay have won broad public support: polls continue to show strong majorities in every part of New York in favor of raising the minimum wage and allowing local adjustments.
And testimony this month before the Senate Labor Committee showed that cities and counties that have implemented a local wage actually have stronger local economies, with no loss of jobs or sales at local businesses.
Inaction on wages has real consequences, especially for women and people of color, who are disproportionately affected by low pay. Fast food is the single lowest-paying job in the United States, and women make-up two-thirds of its workforce. They're also the majority of the state's minimum wage earners.
But a big boost in pay can be life changing. The difference between an $8 an hour job and one that pays $10.10 or $13.13 is the difference between making the rent or going homeless. It's the kind of pay hike that lets you afford both groceries and some gas for the car to get to work.
And, as Piketty has written, we need fair wage and tax laws to assure that economic mobility doesn't become a thing of the past. Without fair rules to guide the economy, the rich and the superrich will just keep getting richer.
A thousand workers, faith leaders and activists are gathering at the Capitol today to demand passage of the governor's proposal. The Raise Up New York bill is the highest-impact measure left this session to reduce inequality, boost local economies and set realistic, livable wages for three million hard-working New Yorkers — today's the day to make it happen.
Michael Kink is executive director of the Strong Economy For All Coalition. http://strongforall.org/