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Yes, but to couch Department of Labor's Wage and Hour Division as a phone number you call to get your money is not how it works. Nearly 50% are denied after a

Yes, but to couch Department of Labor's Wage and Hour Division as a phone number you call to get your money is not how it works. Nearly 50% are denied after a 6 month process on average. Like disability claims or VA claims or immigration application...or any other administrative legal action, you generally need a lawyer to navigate through the process successfully. But perhaps you have a personal experience you can share where you called and they got your unpaid wages from your employer.

DennisP 7y ago
A 50% chance of recovery in 6 months is still a drastic improvement over a 0% chance of recovery if you lost money in stocks. Also, loss of wages accumulates over time and you're probably going to look for another job or quit if you're not getting paid. But you could easily invest several years of worth of salary in the stock market, and lose the majority if it crashes hard enough.
- throwaway_law 7y ago
  >A 50% chance of recovery in 6 months is still a drastic improvement over a 0% chance of recovery if you lost money in stocks. Not from a taxation standpoint. And investors shouldn't get better tax rates than workers because their is a non-zero chance of losing their investment, if nothing else the deduction of their loss is already built into the system so why give them additional lower rates? >But you could easily invest several years of worth of salary in the stock market, and lose the majority if it crashes hard enough. The only people who can "invest several years of worth of salary in the stock market" are independently wealthy people. Again 40% of the country don't have $400 in savings, the numbers speak for themselves the median savings of the top 10% is $170k (even that wouldn't be several years of salary for them). Risk has nothing to do with capital gains being lower than payroll/income taxes.

DennisP 7y ago

A 50% chance of recovery in 6 months is still a drastic improvement over a 0% chance of recovery if you lost money in stocks. Also, loss of wages accumulates over time and you're probably going to look for another job or quit if you're not getting paid. But you could easily invest several years of worth of salary in the stock market, and lose the majority if it crashes hard enough.

throwaway_law 7y ago
>A 50% chance of recovery in 6 months is still a drastic improvement over a 0% chance of recovery if you lost money in stocks. Not from a taxation standpoint. And investors shouldn't get better tax rates than workers because their is a non-zero chance of losing their investment, if nothing else the deduction of their loss is already built into the system so why give them additional lower rates? >But you could easily invest several years of worth of salary in the stock market, and lose the majority if it crashes hard enough. The only people who can "invest several years of worth of salary in the stock market" are independently wealthy people. Again 40% of the country don't have $400 in savings, the numbers speak for themselves the median savings of the top 10% is $170k (even that wouldn't be several years of salary for them). Risk has nothing to do with capital gains being lower than payroll/income taxes.