The Internal Revenue Service (IRS) said it would increase enforcement in the area of digital asset transactions and listed transactions. The federal agency identified certain transactions to have high-risk issues in noncompliance and vowed to ramp up enforcement in those transactions. “The IRS tracks many known, high-risk issues in noncompliance, such as digital asset transactions, listed…
IRS to Prioritize Enforcement Including Criminal Investigation for Certain Assets
April 8, 2023
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Business & MarketsCriminal Investigationdigital assetseconomic policiesExecutive BranchForm 1040IRSpersonal financePolicies & ImpactsPoliticsUSUS News
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‘Recession Probabilities Are Going up at This Point’: Larry Summers
April 8, 2023
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banking crisisBusiness & Marketscredit cruncheconomic recessioneconomyLarry SummersPolicies & ImpactsrecessionUS
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Former Treasury Secretary Lawrence Summers believes the probability of the United States entering a recession has spiked, pointing to tightening credit conditions. “Recession probabilities are going up at this point,” Summers said in an interview with Bloomberg. The U.S. economy averaged 345,000 monthly job additions in the first quarter of 2023 while the unemployment rate…
Pandemic Shutdowns Led to Wealth Transfer: Sen. Ron Johnson
As a result of the COVID-19 pandemic response that included lockdowns, many small businesses folded while big companies thrived, a senator said, calling this phenomenon a “wealth transfer.” Sen. Ron Johnson (R-Wis.) criticized the response to the pandemic, particularly the shutdowns, in a March 22 interview on EpochTV’s “American Thought Leaders” program. “There was nothing in…
‘Problematic’ That Judge Overseeing Trump Case Donated to Biden’s Campaign: Ex-Attorney
As a result of the COVID-19 pandemic response that included lockdowns, many small businesses folded while big companies thrived, a senator said, calling this phenomenon a “wealth transfer.” Sen. Ron Johnson (R-Wis.) criticized the response to the pandemic, particularly the shutdowns, in a March 22 interview on EpochTV’s “American Thought Leaders” program. “There was nothing in…
Biden Admin Asks Supreme Court to Restore Bump Stock Ban
The Biden administration on Friday petitioned the U.S. Supreme Court to hear an appeal of a lower court ruling that halted a federal ban on “bump stocks,” with the Justice Department requesting the high court reimpose a ban on the devices until it hears the case. Bump stocks, which are accessories that let semi-automatic firearms…
Federal Judge Orders FDA to Freeze Approval of Abortion Pill Mifepristone
A federal judge in Texas, in an unprecedented move, has ordered the U.S. Food and Drug Administration (FDA) to temporarily halt its approval of mifepristone, a drug used for abortion. U.S. District Judge Matthew J. Kacsmaryk, a Trump appointee in Amarillo, Texas, signed an injunction directing the FDA to stay mifepristone’s approval, while the lawsuit that…
US Would Run Out of Missiles in a Week in Two-Front Conflict: ‘War Game’ Analysis
April 7, 2023
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Asia & PacificCanadaDefending AmericaEuropeFeatured TopicsNational SecurityNATOPolicies & ImpactsPoliticsthe Russia-Ukraine WarUKUSUS and China warUS NewsWorld
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Institutional think-tanks such as the Washington-based Center for Strategic & International Studies (CSIS) routinely scrutinize data in “war game” analyses that alert Pentagon planners of projected stresses and shortfalls across varying conflict scenarios. Right now, with Ukraine receiving weapons, munitions, and financial support from more than 50 nations in fighting off Russia’s February 2022 invasion,…
‘Rung of Hell’: The Hidden Misery of EV Cobalt Supply Chains
April 7, 2023
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AfricaBusiness & Marketscobalt minescobalt poisoningDemocratic Republic of the Congo (DRC)economyenergylithium ion batteryPolicies & ImpactsTechTech NewsUSUS electric vehicle batteryWorld
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Primarily driven by the large-scale adoption of electric vehicles, the production of lithium-ion batteries has spiked, raising the demand for cobalt—a cause of despair rather than prosperity in the African nation of Congo, where the metal is mined amid horrendous circumstances. “I remember looking at this destroyed landscape and these thousands of bodies laboring over…
Trump Indictment ‘Totally Erroneous,’ Sets ‘Bad Precedent’ for the Nation: GOP Leaders
Days after former President Donald Trump pleaded not guilty to falsification of business records charges, his indictment by a Manhattan grand jury continues to spark outrage and concern among Republican leaders—with some holding that it could open the door to rampant prosecutorial misconduct. “Now the threat is that this occurs not only in this instance…
Supreme Court Justice Clarence Thomas Denies Wrongdoing
After a news report highlighted luxurious vacations Supreme Court Justice Clarence Thomas allegedly accepted from a wealthy friend, Thomas said he was advised he didn’t have to report the trips. In a new statement, Thomas denied any wrongdoing and vowed to follow new reporting requirements imposed on the federal judiciary. Thomas’s critics in Congress promptly…
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