With “sloppily applied tariffs” as the centerpiece of the administration’s trade policy, “we can expect to get all of the pain from higher import prices but little of the gain” that would come from a more strategic levying of duties, said Thea Mei Lee, president of the Economic Policy Institute, a nonpartisan think tank based in Washington. (Thea quoted throughout)
USA Today
September 6, 2018
Tariffs newly implemented under Trump, however, affect only 0.1 percent of the U.S. economy, said Thea Lee, president of the liberal Economic Policy Institute, during the committee hearing. Tariffs to be potentially implemented in the coming months and years would total only about 0.8 percent of GDP at most, even assuming that tariffs apply to all motor vehicles and parts, she said. Lee and Heritage Foundation distinguished visiting fellow Stephen Moore agreed during the hearing, however, that the Trump administration’s trade policy has been largely incoherent, but Moore expressed optimism that the short-term pain wrought by tariffs will ultimately yield long-term gain.
American Shipper
September 6, 2018
“The Trump administration’s tariffs have been erratically implemented, inconsistently messaged and sometimes apparently motivated by politics or whim. Rather than seeking to coordinate a comprehensive and coherent strategy in conjunction with our allies and complementary to our domestic policies, this administration appears to have no overarching strategy or goal in sight,” said Thea Lee, president of the Economic Policy Institute, a think tank affiliated with the labor movement. The approach will mean Americans “can expect to get all of the pain from higher import prices, but little of the gain” through increased exports, jobs and domestic production, she added.
Automotive News
September 6, 2018
Today is Labor Day, a holiday meant to honor workers’ many contributions to American society. But what about the other 364 days a year? Wages are stagnant. Inequality continues to soar. The economy is growing, but the bulk of U.S. workers get mere scraps from the bonanza. Plenty of this is due to decades of bad macroeconomic policy. But a lot of it is also because of failed rules in the labor market. Those rules can also be repaired. (The Economic Policy Institute has written a helpful paper detailing specific fixes.) (Features FDF themes throughout)
The Week
September 5, 2018
If only more companies shared the wealth. Instead, most U.S. workers aren’t benefiting from higher corporate profits, said Heidi Shierholz, senior economist at the Economic Policy Institute, a Washington think tank that advocates for working people. She cites several corporate practices and government policies that have sapped power from workers. Mandatory arbitration in job disputes and non-compete agreements are becoming common, even among middle-income earners and some fast-food employees. Rules to expand overtime pay were stopped and the minimum wage’s value has eroded steadily. (Heidi quoted throughout)
The Dallas Morning News
September 5, 2018
The Hill
September 5, 2018
Educators may not go into teaching expecting to get rich, but it’s a job that historically has supported a middle-class lifestyle. That may be harder to achieve today, thanks to years of eroding pay for teachers, according to a new study from the Economic Policy Institute, a left-leaning think tank. Teachers now earn 11.1 percent less than comparable professionals, representing a record pay gap between educators and other college-educated workers, according to the study. (whole story)
CBS Moneywatch
September 5, 2018
Teachers just got another way to make the case that, as a group, they are making too little money. Public school teachers earned average weekly wages of $1,137 in 2017, while all other college graduates working full time earned $1,476 per week, according to a report out today from the left-leaning Economic Policy Institute. (whole story)
Money Magazine
September 5, 2018
Newly minted college graduates considering the teaching profession probably don’t expect lucrative salaries. But they might not realize how big a financial hit they face: Teachers now earn about 20 percent less than other college-educated workers, according to a new report by the Economic Policy Institute, a union-backed think tank. (whole story)
Chalkbeat
September 5, 2018
This is according to an extensive report on inequality from economists Estelle Sommeiller and Mark Price, published in July by the Economic Policy Institute. The authors built on top of research from economists Thomas Piketty and Emmanuel Saez and used IRS data, finding that in 2015, five states, 30 metro areas, and 78 counties had exceeded the previous national record for share of income by the 1%, at 23.9% – a record set in 1929, on the eve of the Great Depression.
The divide between the rich and poor in the US has continued on an upward trend since the 1970s, and we live in a time where economic growth is disproportionately benefitting the wealthiest Americans. (whole story)
Business Insider
September 4, 2018