"It doesn't make any difference whether a country makes computer chips or potato chips!" "Attributed to Michael Boskin, Chairman of President George H. W. Bush's Council of Economic Advisors When U.S. unemployment is at a 50-year low, why do so many people have trouble finding work with decent pay and adequate predictable hours? A new economic indicator"the US Private Sector Job Quality Index (JQI)"gives the answer: we have lots of jobs, but they are increasingly low-quality jobs. "The problem is that the quality of the stock of jobs on offer has been deteriorating for the last 30 years," says Dan Alpert, an investment banker and Cornell Law School professor. The JQI is built and maintained by Alpert and his fellow researchers at Cornell University Law School, the Coalition for a Prosperous America, the University of Missouri-Kansas City, and the Global Institute for Sustainable Prosperity.
The Internal Revenue Service is in a bind. The agency's job is to collect the taxes that fund everything else in the government, from Social Security to the Post Office to Medicaid to the military's endless conflicts across the globe. But the IRS is struggling: According to Vox, Americans owe a cumulative $131 billion in unpaid taxes, enough to completely fund the Department of Education for two years. The bulk of that money is owed by the wealthiest people in the country, yet the IRS isn't attempting to collect it from them. Instead, as IRS Commissioner Charles Rettig confirmed in a letter to Congress recently, the agency literally can't afford to audit the rich, so it's pursuing the poor instead. read more