UPDATE: President Biden, Domestic Markets, IRS Tax Filing Service, Polio and Paul Krugman’s “Sorry”
Posted on July 22, 2022 by The D.E.A. ROGUE WARRIOR
By Staff Reporters
President Biden tested positive for the coronavirus, raising health concerns for the 79-year-old president and underscoring how the virus remains a persistent, if muted, threat in a country trying to put the pandemic in the past.
Senator Elizabeth Warren along with 22 more Democratic lawmakers are pushing the IRS to create its own free tax filing service. The bill also aims to allow eligible taxpayers to choose a “return-free option,” providing a pre-populated filing. “The average American spends 13 hours and $240 every year to file their taxes — that’s too much time and too much money,” Warren said in a press release. But some tax professionals say it’s not a realistic plan for the overburdened agency.
A case of polio has been identified in an un-vaccinated adult in Rockland County, according to a news release from the New York State Department of Health. The agency confirmed that the infection was transmitted from someone who received the oral polio vaccine, which has not been administered in the United States since 2000. Officials believe the virus may have originated outside the United States, where the oral vaccine is still administered.
he New York Times opinion columnist Paul Krugman published a mea culpa in column form flat out admitting he was wrong for thinking inflation wouldn’t be that bad. In his piece, titled, “I Was Wrong About Inflation,” the economics professor noted that he was on “Team Relaxed” when it came to fears of inflation and acknowledged that was a “very bad call.” Krugman began by recounting the “intense debate among economists about the likely consequences of the American Rescue Plan, the $1.9 trillion package enacted by a new Democratic president and a (barely) Democratic Congress.” He mentioned how he originally didn’t see the massive government spending bill as that dangerous for the economy. “Some warned that the package would be dangerously inflationary; others were fairly relaxed. I was Team Relaxed. As it turned out, of course, that was a very bad call,” he confessed.
Filed under: Accounting, Experts Invited, Investing, LifeStyle, Op-Editorials, Taxation | Tagged: Biden, DJIA, IRS tax filing service, Krugman, markets, NASDAQ, Paul Krugman, polio, S&P, UPDATE: IRS Tax Filing Service |