Economic analyst David Cooper, with the Economic Policy Institute, told us last year that it is important not to raise the minimum wage too quickly, as businesses could struggle to afford their existing staff and may have to let people go, which is not ideal. Rather, it’s important to set a rate that gives businesses time to adjust.
Click on Detroit
January 27, 2023
On the latter option, several politicians on the left have proposed finding new tax revenue, by for example removing the payroll tax cap, which currently exempts income over $160,000 from the tax. As the Economic Policy Institute has pointed out, the cap was supposed to allow for 90 percent of payroll income to be taxed by Social Security, but thanks to inequality and soaring incomes at the top, in 2021 that figure plummeted to 81.4 percent. Scrapping the cap would mean that Jamie Dimon (who makes $34.5 million per year) and you would pay the same amount of payroll income as a percentage of salary into the system.
American Prospect
January 27, 2023
Some experts and investors think the Fed has already done enough to keep annual inflation moving down to its target of 2 percent and should be careful about weighing down the economy with even higher rates. “I think there is all the room in the world for the Fed to really reduce its pace of interest rate increases. Honestly, I’d go to zero,” said Josh Bivens, research director at the Economic Policy Institute, a left-leaning think tank.
The Hill
January 27, 2023
According to one estimate from the nonprofit think tank Economic Policy Institute, reported and unreported wage theft could amount to as much as $50 billion per year owed to workers.
CBS
January 27, 2023
But the prices are burdensome for most and impossible for many. The average price for infant care in the state is $9,480 per year — 29% higher than in-state college tuition, the Economic Policy Institute estimates. Average care for a 4-year-old costs $8,113 per year.
North Carolina Health News
January 27, 2023
Last fall, the Economic Policy Institute performed an analysis of teacher pay trends from 1970 to 2021, and found that teachers earn 23.5% less on average compared to their peers of similar educational backgrounds. Sherratt also said that 62% of parents surveyed in a PDK poll on public schools last year said they did not want their child to go into teaching, with low pay the top-listed reason.
Nevada Current
January 27, 2023
They are hired by Silicon Valley companies out of U.S. universities, a point made by Lofgren and Eshoo. Visa workers are also hired by outsourcing companies to help facilitate the transfer of work overseas, resulting in job losses of U.S. workers. And these companies are major users of the H-1B visa, according to an Economic Policy Institute (EPI) study last year.
Tech Target
January 27, 2023
Despite being optimistic about the future of the U.S. labor market, Elise Gould, an economist at the Washington-based non-profit the Economic Policy Institute (EPI), told Newsweek she’s concerned about workers in the public sector.
“Many public sector jobs simply have not returned [after the pandemic] and have not seen the same kinds of gains [as other sectors],” she said, mentioning jobs in education, and local- and state-level roles. “The private sector has had a much more substantial bounce back in the recovery than the public sector has.”
Newsweek
January 27, 2023
The debt ceiling, an arbitrary, purely political limit on federal … back by five to six years, according to the Economic Policy Institute. (paywall).
MarketWatch
January 27, 2023
Of course, education and skill development are essential components of sound policy, and several of the EDQ articles suggest how to improve it. But in the real economy, experts like those at the Economic Policy Institute show our policy bias towards individualized and company-focused approaches hasn’t led to shared prosperity.
Forbes
January 27, 2023