President Joe Biden promised on Thursday that the so-called “Inflation Reduction Act” wouldn’t raise taxes on Americans making less than $400,000 a year. But, in fact, the bill would increase taxes collected from the American people by more than half a trillion dollars, affecting both rich and poor alike.
Amazon, one of the largest tech employers in the world, has revealed that it is now hiring at the slowest pace since 2019 and has cut over 100,000 employees globally in the June quarter, likely due to the dramatic economic slowdown since 2021.
Nearly half of America's food banks describe rising numbers of people lining up for handouts, as inflation puts pantry basics out of reach and the Biden administration’s eight-year anti-hunger plan comes unstuck.
The Democrats’ marquee bill to reduce inflation would likely have zero impact on inflation, according to a study by the influential Penn Wharton Budget Model.
Nearly half of American adults are having trouble paying for basic household necessities, new Census Bureau data show, a sign of continued struggling amid economic turmoil and record-high inflation.
