Economy Archives - Page 8 of 58

Goldman Sachs: AI Could Automate Two-Thirds of All American Occupations

Goldman Sachs economists have warned that two-thirds of all occupations across America could be partially automated by artificial intelligence (AI). Top economists Joseph Briggs and Devesh Kodnani issued the warning in a report published on April 5. According to the report, a new wave of AI systems, such as ChatGPT,…

Americans Paid $5 Trillion in Taxes to IRS Last Year Alone

The Internal Revenue Service (IRS) raked in a record-breaking $5 trillion in taxes last year. The amount of taxes collected from Americans has soared under President Joe Biden, an analysis of IRS data shows. Tax enforcement has also risen under Biden compared to President Donald Trump’s tenure. According to the…

Trump’s Business Empire Is Expanding, Financial Report Shows

President Donald Trump's vast business empire has been expanding since his return to private life, his recently filed personal financial disclosure report shows. Trump's business is now valued at around $1.2 billion, according to the 101-page report (pdf) filed with the Federal Election Commission (FEC). The news comes as Trump…

Warren Buffett Dumps Billions in Taiwanese Stock as Fears of Chinese Invasion Mount

Renowned American investor Warren Buffett has just dumped billions of dollars worth of stock for a Taiwanese chipmaker as fears mount that Communist China is preparing to invade the island nation. The move comes as experts are increasingly warning that a Chinese invasion of Taiwan is now imminent. Buffett purchased…

IRS Warns Time Running Out to Claim $1.5 Billion in Unclaimed Refunds for 2019 Tax Year

The Internal Revenue Service (IRS) has warned American taxpayers that time is running out to claim tax refunds for 2019. On Wednesday, the IRS announced that over a million Americans have unclaimed tax refunds for the 2019 tax year. The deadline to make the claims is now looming as a…

Top Economist Issues Warning about Banking Crisis: ‘The Worst Is Ahead of Us’

A top U.S. economist has issued a warning to the American people regarding the banking crisis. Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil. According to Roubini, the crisis could lead to a serious credit…

Baby Boomers Replace Millennials as Top Home-Buying Generation in America

Baby boomers have just taken the top spot when it comes to buying homes in America. Boomers, aged 58–76, have now surpassed millennials, ranging from ages 24–42, as the top home-buying generation, a just-released study by the National Association of Realtors (NAR) indicates. The NAR indicates in its 2023 Home…

IRS to Prioritize Criminal Investigations and Enforcement for Certain Assets

The Internal Revenue Service (IRS) has announced that the federal tax agency is prioritizing criminal investigations and will be increasing enforcement on certain assets. The IRS revealed that it plans to increase enforcement in the area of digital asset transactions and listed transactions. The agency identified certain transactions to have…

U.S Adds 236,000 Jobs as Labor Market Slows in March

The United States added 236,000 new jobs in March, slightly below the market estimate of 238,000, according to the latest government data. The jobs numbers, from the Bureau of Labor Statistics (BLS), show the labor market weakened last month. The number of jobs added to the economy in March is…

JPMorgan CEO Warns Banking Crisis ‘Not Over Yet’: ‘There Will Be Repercussions for Years to Come’

JPMorgan Chase CEO Jamie Dimon has warned that America is facing "unprecedented" risks from the current economic climate and cautioned that the banking crisis "is not over yet." In last year's letter to investors, Dimon correctly forecasted the risks from the combination of inflation, war, and Covid fallout. In his…