The IRS plans to hire 3,700 new employees, focusing on auditing millionaires, complex partnerships, and large corporations, as part of an expansive effort fueled by the Inflation Reduction Act to modernize the agency and improve taxpayer services. However, many Republicans fear this may increase the tax burden on financially struggling Americans. The New Hires The […]
Author: Keegan Leighty
How the Top 1% Used COVID to Get $50 Trillion Richer While the Rest of Us Continue to Suffer
During the COVID-19 pandemic, income inequality in the United States worsened, with a significant wealth transfer upwards, as highlighted by the RAND Corporation’s findings of a $50 trillion shift from American workers to the wealthiest since 1975. The World Inequality Report further revealed that billionaires now own a record 3.5% of global household wealth, exacerbating […]
The $300 Billion Question: Can Frozen Russian Assets Rebuild Ukraine?
Ukraine seeks to use $300bn in frozen Russian assets for its reconstruction, facing costs near $500bn due to war damage. With only $5.5bn secured for 2024’s immediate needs, the ongoing conflict underlines the urgency of international support and asset confiscation for recovery. Frozen Assets Since the war in Ukraine started, Russian assets have been frozen […]
Elon Musk Initiates Texas Move: Twitter’s X and Tesla Set for Lone Star State
After losing a case in Delaware that said the bonuses Elon Musk was making at Tesla were unfair to its shareholders, Musk is slowly moving all his businesses to Texas. Big Changes After buying Twitter and changing its name to X last year, Elon Musk has made some serious changes to one of the world’s […]
If the Economy Is Doing Great, Why Can’t People Find Jobs?
If you’re keeping up with the news, then you know government reports say lots of jobs are being added, and unemployment staying low. This made it sound like the job market is doing great, but people looking for jobs tell a different story. What the Numbers Say According to a new report from the Bureau […]
United Auto Workers Secure Game-Changing Deal: Shaping the Future of the Auto Industry
The United Auto Workers struck a monumental deal with Detroit’s Big Three automakers. While it’s a clear win for UAW workers, the broader impact on the economy and car buyers remains uncertain. Substantial Gains for UAW Workers The new contracts propose significant wage increases. Brandon Bell, a Ford worker, anticipates his hourly rate to jump […]
Walmart CEO Warns of Retail Theft Surge: Should Consumers Worry About Price Hikes?
The National Retail Federation (NRF), a powerful lobbying group, recently faced scrutiny for its claim that “organized retail crime” accounted for nearly half of the retail industry’s $94.5bn losses in 2021. Initial Claim and Impact Initially, the NRF stated, “organized retail crime… had increased by 26.5%,” which painted a dire picture for retailers like Target, […]
Portland Teachers Strike: Classrooms Empty as Teachers Join Nationwide Movement for Fairer Pay
In Portland, Oregon, teachers went on a strike, causing schools to close their doors for approximately 45,000 students. The strike was driven by concerns regarding large class sizes, stagnant salaries, and inadequate resources, taking part in a broader trend of organized labor movements gaining momentum across the United States. The Kids Deserve More “Our kids […]