Daily News & Commentary—October 18, 2017
In an op-ed in the New York Times, Prof. Sachs and Prof. Noah Zatz argue that the law is on the NFL players’ side. Professors Sachs and Zatz explain that the First Amendment, Title VII of the Civil Rights Act of 1964, and the National Labor Relations Act all protect the right of players to protest by kneeling during the signing of the national anthem before games. Professors Sachs and Zatz wrote separately on the issue for OnLabor lat week.
A lawsuit filed in the Southern District of California alleges that General Electric mismanaged its workers’ 401(k) plan. GE offered a standard defined contribution plan, but the lawsuit alleges that the company managed the plan for its own benefit by investing in mutual funds owned by its own subsidiary. Writing in the Los Angeles Times, Michael Hilzik argues that the lawsuit exposes the fundamental flaw in the 401(k) system: employees can receive tax benefits for investing in 401(k) plans, but the funds are managed entirely by their employers.
The White House argues that its preferred tax cut plan would “very conservatively” raise incomes by $4000 a year and could raise average incomes by up to $9000 a year. That number was based on a study by three researchers, but on Tuesday one of them, Mihir Desai of Harvard, said the White House misread the research. He estimated the actual income gain would be $800.