Media clips
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A new report from the Economic Policy Institute (EPI) shows that income inequality—the gulf between the haves and have-nots—continues to widen in every state, as it has since the 1970s. On average, those in the top 1 percent of US families by income earned 26.3 times more than the those in the bottom 99 percent. Not 26.3 percent more; 26.3 times more. As the authors state, “The gains of those at the top have come at the expense of the vast majority of working families.”
Union of Concerned Scientists July 25, 2018 -
Washington is among the worst states in the county for income inequality. The average income for the top one percent in the state makes 24.2 times more than the other 99 percent, according to a recent report from the non-profit Economic Policy Institute. The report shows Washington has the tenth widest income gap in the country. The average annual income for the top one percent is just under $1.4 million and only $57,100 for the bottom 99 percent. (whole story + video)
KING 5 July 25, 2018 -
A new report suggests Colorado falls near the middle of the road compared to other states when it comes to income inequality, at least when its measured by the ratio of the state’s top 1 percent and bottom 99 percent of income. The report, titled “The new gilded age Income inequality in the U.S. by state, metropolitan area, and county” was published last week by Economic Policy Institute and examines data from 1917 to 2015. It showed that Colorado’s numbers are close to the national average. The report says that since the 1970s, income inequality has risen in every state. And more recently, the report says the income of the top 1 percent of earners grew faster than the income of the bottom 99 percent in 43 states and the District of Columbia from 2009 to 2015. (whole story)
Denverite July 25, 2018 -
There’s no doubting the language brought forth by Occupy Wall Street— the one percent versus the 99 percent— has popularized discussions about income inequality around the U.S. and on the campaign trail. Now, a new study by non-profit think tank Economic Policy Institute is trying to put those figures into perspective by comparing the average earnings of those wealthy enough to be in the nation’s top one percent versus the other 99 percent of Americans. (whole story)
The Houston Chronicle July 25, 2018 -
This may be true in certain sectors. But it doesn’t pass the smell test on a large scale. “When employers can’t find workers with the skills they need at the wages they are offering, they will raise wages in order to attract qualified workers…,” according to Heidi Shierholz and Elise Gould at the Economic Policy Institute. They continue: “…if employers can’t find the workers they need among the unemployed, they will offer higher wages in an attempt to poach needed workers from other firms, who will then raise wages in an attempt to keep their workers, and so on. In other words, if there are skills shortages, we should see signs of faster wage growth for workers with needed skills.”
The Seattle Times July 25, 2018 -
According to the Economic Policy Institute, median real hourly wages have gone up 2.4% in Minnesota, compared to 0.3% in Wisconsin. Additionally, Minnesota has had stronger overall economic growth, stronger growth per worker and stronger population growth than Wisconsin since 2010. Wisconsin Democrats have prioritized legislation to stop corporate outsourcing, raise wages, promote Wisconsin-made products and give local businesses the first crack at state contracts.
Urban Milwaukee July 25, 2018 -
What’s left: a bifurcated economy that produces wealth but doesn’t spread much of it out. Connecticut boasted the nation’s highest per capita income in 2017, at $70,121. From 2009 to 2015, the income of the top 1 percent in Connecticut grew by 22.9 percent while incomes for everybody else dropped by 1.8 percent, according to the Economic Policy Institute, a Washington, D.C. think tank. The institute ranks Connecticut the third most unequal state in the country, behind New York and Florida, in its most recent study. Economist Mark Price, who worked on the Economic Policy Institute inequality study, said financial industry hubs in Connecticut and New York exacerbate inequality in those states, but he noted that disparities are present throughout the U.S. economy. Unemployment numbers are improving nationwide and since 2015, Price said, there has been “broader and healthier growth” that is more widespread. “But that doesn’t reverse the overall 36-year trends where a tiny fraction of the folks at the top capture a significant share of income growth.”
Center for Public Integrity July 25, 2018 -
The gap between top earners and the other 99 percent remains higher in the Berkshires than in the state’s other three western counties, a new report shows, suggesting durable inequality in a region famous for Gilded Age cottages. A study by the Economic Policy Institute in Washington uses federal tax data from 2015 to show that just as “all politics is local,” as the saying goes, earning power can be as well. Teton County in Wyoming, for example, a popular getaway among the ultra-rich, has the biggest income gap in the nation. To make it into the top 1 percent by income in that Rocky Mountain county, you had to pull down $22,508,018 in 2015. Those people made 142.2 times more than the average income of the other 99 percent.(whole story)
The Berkshire Eagle July 25, 2018 -
Economist Mark Price has been working on the issue of economic inequality for a piece published this month by the Economic Policy Institute. Using IRS data, Price compared the top one percent of earners to the rest of the 99 percent of earners in cities across the U.S. and found that in Missoula, the top one percent make 30.8 times more than the bottom 99 percent. Price says ratio was way higher in Missoula than in any other Montana city, earning it the title of “most unequal metropolitan area in the state.” “The most unequal metro is Missoula, with a ratio of 30.8,” Price said. “The second most unequal metro is Bozeman with a ratio of 24. The third most unequal metro is Butte-Silverbow, with a ratio of 20.3, Kalispell is 19.4, and Billings is 16.9.” (whole story)
KGVO July 25, 2018 -
A new study released by the Economic Policy Institute (EPI), shows the nation is facing a level of income inequality not seen in 90 years. And the worst of it is in New York, which led all states with the top 1 percent holding 31 percent of the income, followed by Florida at 28.5 percent, and then Connecticut at 27.3%. Among the nation’s major metro areas, the Bridgeport-Stamford-Norwalkcorridor ranked fifth with the top 1 percent holding a 38.6 percent share of income. (whole story)
WRCH July 25, 2018