The dollar buys 16.23% less in March 2024 than it did when Joe Biden was inaugurated.
The dollar buys 16.23% less in March 2024 than it did when Joe Biden was inaugurated.
Discussed here:
"As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000," reports the Journal. "Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million." ...
Treasury Secretary Janet Yellen was a bit sassier. "Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited," she wrote in a letter to Rettig. ...
Awkwardly, "revenue agent staffing had actually decreased by 8%, or more than 650 employees, between the end of fiscal 2019 and March 2023," per a previous watchdog report. And it's not just hiring that's in trouble: The agency has completed just 33 percent of its fiscal year 2023 milestones outlined in its strategic operating plan, which is…tough given that the year is over.
Appoint a screw-up appointed by Trump to place him and the Hunter investigation off the political stage at the Republican House hearings, and hope Weiss keeps screwing up.
Weiss has long maintained that Garland hamstrung his investigation of Hunter Biden, but on the other hand Weiss let both Lesley Wolf and long time close Biden family operative Alexander Mackler work in his office to deflect the heat on Hunter Biden according to IRS whistleblowers, which just goes to show that a poor appointment is a poor appointment. In addition to going soft on Hunter Biden, the plea agreement Weiss originally negotiated with Hunter Biden gave him a get out of jail free card.
How did Weiss miss that and the judge didn't?
Judge Noreika specifically balked at that on July 26th, contrary to what most drive-by media want you to think the blowup of the agreement was about:
However, near the end of the diversionary agreement was a paragraph reading, in part, “The United States agrees not to criminally prosecute Biden, outside of the terms of this Agreement, for any federal crimes” committed by the first son for which the statute of limitations had not already expired. ... US District Judge Maryellen Noreika smelled a rat, complaining that she was not given a copy of the crucial paragraph until just before the hearing began.
More.
Expect nothing satisfactory from Weiss' investigation going forward.
In his testimony yesterday, Jerome Powell said he uses a table of the last twelve months of 12-month readings of inflation. In other words, year-over-year readings.
It showed him no evidence of inflation coming down, in other words, of inflation being "transitory".
"We're exactly where we were a year ago." In other words, yep, inflation is raging. It's not transitory.
If you aren't appalled by that, I don't know what to say.
In April 2021 inflation year over year was already at the 2008-level of bad, and the Fed chair decided to wait and see if it became a "problem".
He waited a year, until Mar 2022, to begin raising the main interest rate.
I'm sure the reason is that in April 2021 he was focused on the pandemic as the number one problem. Vaccine uptake reached its crescendo that month, and Jay was praising the COVID stimulus orgy to restart the economy.
But the pandemic wasn't his job. Stable prices is his job, and he let it slide because of the extraordinary circumstances.
Now we're in a whole other big mess. Gutting the bond market is going to be life-changing for far longer than the pandemic will be.
Here's the video from yesterday with the key interchange.
This is Trump's boy, by the way.
(as always, click on the image to enlarge) |
Here comes Yellen. Woof. |