The IRS audits the working poor at about the same rate as the wealthiest 1%. Now, in response to questions from a U.S. senator, the IRS has acknowledged that’s true but professes it can’t change anything unless it is given more money.
IRS: Sorry, but It’s Just Easier and Cheaper to Audit the Poor — ProPublica
This despite the return on investigations into the wealthy being significantly greater.
Wall Street’s nightmare scenario on Election Day isn’t really a Donald Trump or a Joe Biden victory. It’s one where there’s no clear winner, or a result one side refuses to accept.
The stock market and the 2020 election: The result Wall Street fears – Vox
The one thing Wall Street, where stocks have been rising while millions of people have been put out of work and countless businesses are failing or have failed, is concerned about uncertainty.
Trickle-down economics don’t work, have never worked and will never work. Claiming that slightly higher taxes make companies “less competitive” means you’re not interested in having a serious conversation.
Source: Kevin Brady: Punishing businesses with higher taxes would workers
Awesome. This will end well.
Source: American billionaires are $280 billion richer since COVID-19
It’s a shame states couldn’t develop a system to offer official status to gig/freelancen/contract workers *before* a massive, economy-shattering recession kicked in.
Source: Gig workers and self-employed keep waiting for jobless aid | PBS NewsHour
All these experts, including Yellen, who insist “the economy has been strong” come off as oddly uninformed given it’s become clear the economy can only survive for like three days without constant growth.
Source: Janet Yellen on this ‘devastating’ economic crisis and the government’s response | PBS NewsHour
Yep.
Of course, Generation X-ers (those born between 1965 and 1980) are quick to point out that they’ve also suffered through the same financial crises as their younger colleagues, plus even more, including the dot-com bubble bursting at the turn of the century.
Source: What happened in every U.S. recession since the Great Depression
Agreed that everyone should tip, but I’d love to see some nuance in the survey that differentiates between “stridently doesn’t believe in tipping” and “can’t afford to do so.”
Source: Shock survey: Only 81% of U.S. diners tip restaurant staff
“everyday” costs are a threat to financial security. “everyday.”
Source: 47% of Americans say cost of living is No. 1 threat to future security
Lots of gears are put in motion when housing prices bottom out, but none exist for when they get too high for people to afford.
Source: The new housing crisis – Axios
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