Center for Economic and Policy Research (CEPR)

“Ninety-four percent of Americans contribute to Social Security all year long, but the wealthy stop paying after their first $168,600 in wage income.”

By Jake Johnson. Published 2-29-2024 by Common Dreams

Most Americans contribute to Social Security year-round, but U.S. millionaires will stop paying into the critical program on March 2—just over two months into 2024.

That’s because Social Security’s payroll tax doesn’t apply to earned income above a certain level. For 2024, the cut-off is $168,600, and capital gains—such as stock appreciation—are not subject to the payroll levy at all. Elon Musk, the CEO of Tesla and the world’s richest man, pays nothing into Social Security because he doesn’t take a salary.

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“This isn’t just a problem for families—it’s holding businesses and our economy back.”

By Jessica Corbett. Published 3-21-2022 by Common Dreams

A daycare in Portland, Oregon. Photo: Fotos_PDX/flickr/CC

The childcare and universal pre-K provisions included in a $1.75 trillion package passed by the U.S. House of Representatives in November would hugely benefit not only families but also the American economy, businesses, and state governments.

That’s according to a report published Monday by the Century Foundation (TCF) and Center for Economic and Policy Research (CEPR) as the Build Back Better (BBB) package remains stalled in the evenly split Senate due to Republicans and a few right-wing Democrats. Continue reading →

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The Movement Continues – Globally

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