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EconomicPolicyInstitute

Black-white wage gaps expand with rising wage inequality

In a new report, EPI’s Valerie Wilson and Rutgers University professor William M. Rodgers, III write that racial wage gaps in 2015 were larger than they were in 1979. The report finds that racial wage gaps are growing primarily due to discrimination, along with rising inequality in general. The impact of growing racial wage gaps over the last 36 years has been especially detrimental to the economic wellbeing of African Americans since this was also a period of weak wage growth for the vast majority of workers.

TAXES

Corporate tax chartbook

A new online chartbook created by EPI and Americans for Tax Fairness shows that U.S. corporate profits have skyrocketed while revenue from corporate taxes is at records lows. The charts highlight one of the most damaging loopholes in the U.S. corporate tax code—deferral—which costs the U.S. Treasury $126 billion a year. By outlining our historically low effective corporate tax rates and the ways in which corporations avoid paying their fair share, this report serves as a crucial rebuttal to corporations that argue they need further tax breaks.

IN THE NEWS
Reuters
Marketplace covered EPI’s racial wage gap report, noting that as of 2015, African American men make 22 percent less than their white peers while African American women make 34 percent less. | "What’s behind the growing black-white pay" »
Reuters
The Associated Press also covered the racial wage gap report, noting that having a college degree actually worsens the gap, countering the idea that education is the key to a more equal society | "Report finds racial wage gap widest in nearly 4 decades" »
Reuters
In an interview with the Guardian, Valerie Wilson explained that racial discrimination affects the gender wage gap. “Black women are faced with both kinds of discrimination,” Wilson said. “And that racial disadvantage has basically limited their achievements in narrowing the gender gap.” | "Wage gap between white and black Americans is worse today than in 1979" »
Reuters
CBS Moneywatch covered EPI’s and American for Tax Fairness’s corporate tax chartbook, writing, ”U.S. businesses have amassed an overseas cash hoard of $2.4 trillion because they aren’t paying their fair share of taxes.” | "U.S. corporations earn record high profits, pay record low taxes" »
Reuters
The Christian Science Monitor interviewed EPI’s Robert Scott on the use of his trade research in the presidential election. | "An interview with the trade expert Donald Trump cited 20 times" »
Reuters
In a story about lawsuits challenging the overtime pay rule, the Dallas Morning News quoted EPI’s Lawrence Mishel who said sarcastically, “the salary standard also had been raised in the past by `other communists like George W. Bush and Gerald Ford.’ `It’s remarkable that somehow they think it’s an overreach, but it’s not an overreach when an employer asks a $25,000-a-year employee to work 20 hours of overtime for free?”| | "Texas leads lawsuit over overtime pay rules" »
Reuters
In a Voice of America story about U.S. economic recovery, EPI’s Elise Gould explained that the top 5 percent is still the only group that has completely returned back to their 2000 levels. | | "Economic Frustration is Driving Force in Election Anger" »
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