News and perspective on public policy issues affecting Washington's economy and quality of life, brought to you by the Economic Opportunity Institute.
This PBS NewsHour video from 2005 feels a bit dated, but the points are still largely true. The payroll tax cap is now $113,700, and just 84% of wages are subject to Social Security taxes. Social Security taxes are still not paid on capital gains or investment income, and the vast majority of income gains in the […]
Wall Street bankers have been known to get creative – if not downright deceptive – when finding ways to maximize their own income. Now Moody’s, the bond-rating agency that overvalued junk investments and helped bring the country (and world) to their brink of financial ruin just five years ago has a new trick up its […]
Sitka News reports Senator Mark Begich (D-Alaska) is prepared to introduce legislation to protect and preserve Social Security benefits for future generations, while shoring up the system’s long-term solvency. Senator Begich introduced his plan in response to President Obama’s proposal to switch to the Chained CPI, which would cut annual cost-of-living increases for seniors and veterans on Social […]
A recent AARP poll of Americans found 84% of voters over 50 years old – across party lines – oppose cutting Social Security in order to reduce the deficit. Just 16% were in favor or didn’t know. To put that in perspective: another poll from this April found 21% of Americans think a UFO crashed in […]
