Media clips
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President Trump has announced plans for tariffs on Chinese imports — a move which is expected to trigger retaliation from the Chinese government. Is this the beginning of a trade war? A seven-month U.S. investigation found that China has used hackers to steal intellectual property and coerce U.S. businesses to hand over trade secrets. The Trump administration argues that years of negotiations with China have not produced results. Experts agree that action needs to be taken to curb China’s aggressive tactics, but worry the sanctions will ultimately hurt U.S. interests.
Guest: Sung Won Sohn teaches economics and directs the Institute of Global Economic Research (IGER) at California State University Channel Islands
Guest: Robert Scott – Senior Economist and Director of Trade and Manufacturing Policy Research at the Economic Policy Institute
MPR News March 27, 2018 -
You can’t expect those in the private sector to turn down free money if politicians put it on the table. But the Chicago Tribune reported this month that a review by the Economic Policy Institute, a D.C.-based think tank, concludes that economic development officials should more carefully weigh the costs and benefits of such incentive packages. The institute looked at a handful of “fulfillment centers” that Amazon had built in Illinois in recent years in return for millions of dollars in subsidies. They concluded that “there’s little evidence the e-commerce giant’s (projects) contribute to overall job growth in the counties where they open,” the Tribune reported. In addition, “researchers also did not see signs Amazon fulfillment centers boosted average wages for warehouse workers in the surrounding county,” the paper noted. “Our first step for local economic development can’t be giving out millions to national employers,” an economic analyst at the institute told the Tribune.
Las Vegas Review-Journal March 27, 2018 -
These discriminatory practices have major consequences for African-American families. Building financial stability depends in large part on your ability to buy a house. The most important part of the average American family’s wealth profile is the value of their home. The new findings echo the conclusions of recent research conducted by the Economic Policy Institute. They examined progress since the landmark Kerner Commission report issued 50 years ago, and found the Black homeownership rate unchanged in half a decade, still trailing nearly 30 points behind the rate for White families.
The Philadelphia Sun March 27, 2018 -
- The homeownership gap between Blacks and Whites is now wider than it was during the Jim Crow era. Another independent research report by the Economic Policy Institute found that the difference in Black homeownership between 1968 and 2018 is virtually the same – 41.1 percent (1968) compared to 41.2 percent (2018);
Minority Reporter March 27, 2018 -
It’s not cheap to live in one of the best places for millennials. That’s according to figures from the Economic Policy Institute, which has come out with an interactive calculator to determine how much it costs individuals and families to comfortably live in Arlington and other U.S. counties. For a couple with two children in Arlington, it costs about $9,493 per month to live comfortably, according to EPI, or just over $113,915 per year. The highest monthly costs were attributed to housing, at an average of $2,040 per month — for a “modest” but “sanitary” two-bedroom apartment — but childcare costs in the county were just behind it at $1,801 per month. (whole story)
ARL Now March 27, 2018 -
But the language of the rule never stated the tips had to stay in the hands of workers. Worker advocates said the rule would give employers permission to pocket the gratuities that customers left their servers. The Economic Policy Institute estimated a loss of $5.8 billion a year to workers if the provision were enacted. Now, the spending bill rider sets penalties for employers who skim gratuities and gives workers the right to sue employers who take tips.
Common Dreams March 27, 2018 -
Acosta said DOL did a “qualitative” survey on tip theft, but he won’t release it. While DOL didn’t run the numbers on the tip theft, the Economic Policy Institute, using federal data, did, in mid-January. It reported if Trump’s rule takes effect, the average tipped worker could lose a minimum of $1,000 yearly – and tipped workers are among those who can least afford such losses. EPI’s analysis showed tipped workers would lose a minimum of $5.8 billion yearly due to employers pocketing the tips, and – in a worse-case scenario listed in one chart — $13 billion. And working women would suffer 80 percent of the losses. Lawmakers cited both figures while questioning Acosta at the March 6 hearing on DOL’s budget. (EPI cited throughout)
Press Associates Union News March 27, 2018 -
In a new paper, Jessica Schieder of the Economic Policy Institute and I examined the impact of a cap in the deductibility of CEO pay. A provision in the Affordable Care Act (ACA) prevented health insurers from deducting more than $500,000 of CEO pay from their taxes. This meant that a dollar of CEO pay went from costing companies 65 cents in after-tax dollars to costing them a full dollar, an increase of more than 50 percent. (whole op-ed)
Truthout March 27, 2018 -
“Trump prefers to negotiate at the point of a gun,” said Robert E. Scott, a senior economist at the liberal Economic Policy Institute in Washington. But he questioned the wisdom of not outlining the goals of the negotiation at the outset, particularly with allies. “I think it would have been better to make this explicit when they laid out the tariffs,” Mr. Scott said. (Rob quoted throughout)
The New York Times March 26, 2018 -
“The solution to the threats to U.S. national security and jobs must include strong, effective efforts to provide enforceable reductions in global overcapacity in these industries.
Robert Scott, Director of Trade and Manufacturing Policy Research, Economic Policy Institute.
Bloomberg Quint March 26, 2018