Author: Martha Burk

Martha Burk is money editor at Ms.

The Consumer Financial Protection Bureau Is Effective and Popular—So Why Do Trump and Musk Want to Shut It Down?

President Donald Trump and Elon Musk are targeting the Consumer Financial Protection Bureau (CFPB), which is the government oversight agency charged with protecting consumers from unfair and unethical practices like predatory lending rates for everything from home mortgages to used cars, junk charges such as “resort” fees at fleabag hotels and surprise “processing fees” or “closing fees” that weren’t disclosed upfront for loans.

And it’s no mystery why; the CFPB has been effective. It has obtained nearly $20 billion in financial relief for U.S. consumers in the form of canceled debts, compensation and reduced loans since its founding.

Why Raising the Minimum Wage Beats Tax Breaks for Tipped Workers Every Time

It’s a brand new administration, and the new prez is determined to fight for the underdog—if his past pronouncements can be taken seriously. Case in point? Trump’s campaign declared last June, “When I am president, we will continue our fight for working families of America, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers.”

If the new Congress passes the bill, it should be a real boost for low wage workers who depend on tips to make ends meet—right? Well, not exactly. Cutting taxes on tipped wages sounds great, until you get under the hood and learn that most tipped workers don’t earn enough to pay taxes in the first place. It’s what you might call a phantom benefit, but it sounds good when politicians propose getting rid taxes on tips.

Greedflation: Corporate Profits Are the Driver of High Prices

Depending on who’s doing the talking, inflation can be blamed on President Joe Biden or on his predecessor, Donald Trump. But one—and perhaps the greatest—driver of higher prices lies under the radar: corporate profits.

Women are the majority of the population, the majority of registered voters and the majority of those who actually show up at the polls. Let’s hope they do their homework and remember in November which candidates are coziest with the profit-mongering corporations picking their pocketbooks.

(This article originally appears in the Fall 2024 issue of Ms. Join the Ms. community today and you’ll get issues delivered straight to your mailbox! )

Charting the Future of Equal Pay

Today, women workers make 78 cents when compared to men, and 66 cents for Black women, 52 cents for Latinas and 55 cents for Native women. The earnings gap is even larger when the value of benefits, including health and life insurance and performance bonuses, is included in the equation.

Disclosure of pay data by gender and race to the EEOC may pave the way for transparency to the public at large—and much-needed action to close gender and racial pay gaps once and for all. It’s been 60 years. Isn’t that long enough?

(This article originally appears in the Spring 2024 issue of Ms. Join the Ms. community today and you’ll get issues delivered straight to your mailbox!)

The Inflation Reduction Act Is a Much-Needed Win for Women

The Inflation Reduction Act, signed into law on Tuesday by President Biden, will benefit women for years to come.

The new law will limit the amount Medicare recipients have to pay out of pocket for drugs to $2,000 annually—a major benefit for older women, because they’re the majority of older Americans. The bill also empowers the Health and Human Services Secretary to negotiate prices for drugs covered under Medicare, and punish pharmaceutical companies that don’t play by the rules. Younger women below Medicare age will also benefit from other provisions in the Inflation Reduction Act, like subsidies that cover medical insurance premiums.

Fifty Years After Title IX, a Look at Billie Jean King’s Activism

This year marks the 50th anniversary of Title IX of the Education Amendments of 1972, the law that opened all educational programs, including sports, to girls in the United States.

Tennis legend Billie Jean King has done more than any other athlete to make the promise of Title IX a reality. She also won a record 20 Wimbledon titles, 13 US titles, four French titles, and two in Australia between 1961 and 1979.

Gender Diversity on California Corporate Boards Was Too Good To Last

California broke new ground for women when Governor Jerry Brown signed the first-in-the-nation requirement that publicly traded companies in the state have at least one woman on their board of directors by the end of 2019, and two or three by the end of 2021. But last month, the law was deemed unconstitutional.

On May 23, California Secretary of State Shirley Weber announced that she will appeal the California ruling, which will take time and may not be successful. Without formal requirements, we can only hope a growing critical mass of women can change corporate culture that’s still merrily skating along with those unwritten “majority male quotas” that have been firmly in place for centuries.

For 50 Years, Title IX Has Transformed Girls’ and Women’s Education. The Job Is Not Yet Done.

This year marks the 50th anniversary of Title IX, which prohibits gender discrimination in educational programs or activities. Because almost all schools receive federal funds, the law applies in nearly every educational context. Most people associate Title IX with athletics, where it has indeed had a profound effect on girls and women. Before Title IX, women and girls were virtually excluded from most athletic opportunities in schools.

The Pew Research Center did a national survey to gauge awareness and attitudes about Title IX 50 years after its passage. Among those who know about Title IX, there are both gender and political gaps in how they think about it.