These politicians are focused on protecting their wealthy donors, who pay less into Social Security than ever. The Economic Policy Institute (EPI) recently found that as inequality increases, a record share of all earnings are above the $160,200 cap on Social Security contributions.
Fayette Tribune
March 17, 2023
The increase in income inequality is the main reason for the erosion in the share of income subject to payroll taxes, the Economic Policy Institute pointed out in a blog post in January. The cap rises at the same rate as the national average wage index, but people at the top have seen earnings grow faster than the national average and thus have captured a bigger share of total earnings. Raising the cap so that 90 percent of earnings were once again subject to payroll taxes would be in line with the intention of the 1977 reform. On the other hand, high earners get less out of Social Security than they pay into it. Such a change would make the deal for them even worse.
New York Times
March 17, 2023
Arora now hopes the project can help address widespread child care needs. In a recent West Michigan Works! survey of more than 1,400 people, more than three-quarters of respondents indicated that accessible and affordable child care is a barrier to employment. The average cost of infant care in Michigan is $10,861, or $905 a month, according to estimates from the Economic Policy Institute.
MiBiz: West Michigan Business News
March 17, 2023
Wages are also on the lower side versus competitors. According to a 2021 survey done by the nonprofit think tank, Economic Policy Institute, 92% of Dollar General workers earn less than $15 an hour. For comparison, 51% of workers earn below $15 at Walmart, 3% at Target, and 48% at Kroger. This data was based on a survey of 20,933 hourly service-sector workers.
Business Insider
March 17, 2023
And in 2022, the number of workers involved in major strikes surged to 120,600 over the prior year, according to an analysis of Bureau of Labor Statistics data by the Economic Policy Institute. Still, it’s a significant decline from pre-pandemic levels in 2018 and 2019, EPI said.
USA Today
March 17, 2023
According to the Economic Policy Institute, care for one child in Pennsylvania nears $12,000 per year — a cost so prohibitive that nearly 1.6 million parents have left the workforce entirely. During his budget address last week, Mr. Shapiro said the state’s economy loses $3.5 billion each year because of lacking child care options.
Pittsburgh Post Gazette
March 17, 2023
The Economic Policy Institute notes that while “[n]early half of all nonunion workers say they want a union in their workplace… only 12% of all workers are actually represented by a union.” The PRO Act closes loopholes in current labor law and smooths the unionization process, as can be seen here.
Uprise Rhode Island
March 17, 2023
The day that the FTC announced the rule, Heidi Shierholz, president of the Economic Policy Institute, celebrated on Twitter. The EPI analyzes economic issues and workplace conditions from the perspective of workers.
KPVI
March 17, 2023
Heidi Shierholz, president of the Economic Policy Institute, agreed with the sentiment, adding in a statement, “This bill would help protect workers against the harmful effects of overwork by recognizing the need to redefine standards around the work week.”
Deseret News
March 17, 2023
And in a forthcoming report from the Economic Policy Institute, real wage growth, which is adjusted for inflation, increased during the pandemic. “Between 2019 and 2022, hourly wage growth was strongest at the bottom of the wage distribution. The 10th percentile real hourly wage (adjusted for inflation) grew 9.0% over the three-year period. Wage growth was about one-third as fast for middle-wage workers,” it read.
Bucks County Courier Times
March 17, 2023