inflation

The Inflation Reduction Act would double IRS agents and audits — but the superrich aren’t real targets

The Manchin-Schumer “Inflation Reduction Act,” which could clear the Senate this weekend, is supposed to raise tens of billions of dollars by adding $80 billion to the IRS budget and hiring as many as 80,000 more auditors and agents. The plan is estimated to double the number of Americans audited each year. To quote the …

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Workers in these two industries are the only ones coming out ahead right now

CNN — At first glance, it looks like many Americans got big pay raises since the Covid-19 pandemic started. But in reality, only workers in two industries – leisure and hospitality and retail trade – are actually coming out ahead, once inflation is taken into account. Overall, wages and salaries for private industry workers rose …

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