Where is the Money Going?

1 to 16 of about 1744 News
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Two-Thirds of Americans Would Struggle to Pay for a $1,000 Emergency

These difficulties span all incomes, according to the poll. Three-quarters of people in households making less than $50,000 a year and two-thirds of those making between $50,000 and $100,000 would have difficulty coming up with $1,000 to cover an unexpected bill. Even for the country's wealthiest 20% — households making more than $100,000 a year — 38% say they would have at least some difficulty coming up with $1,000.   read more

Study Finds Middle Class Shrinking in Four-Fifths of Metro Areas

In cities across America, the middle class is hollowing out. A widening wealth gap is moving more households into either higher- or lower-income groups in major metro areas, with fewer remaining in the middle. Middle class adults now make up less than half the population in such cities as New York, L.A., Boston and Houston. That sharp shift reflects a broad erosion--one that has has animated this year's presidential campaign, lifting the insurgent candidacies of Donald Trump and Bernie Sanders.   read more

F-35 Fighter Jet Program, Touted as Affordable, is Far from It, as Lockheed Raises Prices at Will

The cornerstone of the Joint Strike Fighter program is affordability. The program was sold using affordability as its battle cry. The program promised to "affordably develop the next generation strike fighter weapons system to meet an advanced threat (2010 and beyond), while improving lethality, survivability, and supportability." The affordability was addressed by combining multiple programs into one. It didn't work, especially with poor project management.   read more

Increase in Lawsuits against Americans in Debt Attributed to Growth of Debt Buyouts

Our study compared black and white neighborhoods, and we found that in the same city, the mostly black neighborhoods had twice as many court judgments as the mostly white neighborhoods, even when accounting for income. One big firm, Pressler & Pressler, obtained at least 76,000 judgments for its clients. In about 69,000 of those suits, the firm used the same attorney who took as little as four seconds to review a suit, and he did between 300 and 400 — sometimes as many as 1,000 — per day.   read more

7 of 10 Most Profitable U.S. Hospitals are Non-Profits

Money-making hospitals include nonprofits such as the Carle Foundation Hospital in Illinois, where a state appeals court in January ruled a state law allowing hospitals to avoid taxes is unconstitutional. Urbana Mayor Laurel Prussing said her city lost 11% of its assessed tax value when Carle stopped paying $6.5 million a year in property taxes. "We need to question this whole idea of what not-for-profit means," Prussing said. "This is a highly profitable business that manages to not pay taxes."   read more

Sioux Tribe Accuses Government of Underfunding Native American Health Care

A tribe attorney said: "All we're seeking is for the citizens of Rosebud to get what they've been promised here. We're not suing because the emergency room was shut down. We're suing because [the federal government] under law is required to deliver an open emergency room that provides reasonable medical care. The emergency room has been closed for five months...?" The Sioux say "the federal government spends less on Indian health care than on any other group receiving public health care."   read more

Debt Collectors’ Dream: Nebraska makes it Easy to Go after Poor for Unpaid Medical Debts

Suing someone in Nebraska is cheaper and easier. The cost to file a lawsuit in that state is $45. About 79,000 debt collection lawsuits were filed in Nebraska courts in 2013 alone. Suing became an irresistible bargain for debt collectors. It’s a deal collectors have fought to keep, opposing even the slightest increase. For debtors, unaffordable debts turn into unaffordable garnishments, destroying already tight budgets and sending them into a loop.   read more

Loophole in Enforcement of “Living Wage” Laws: State Governments Kept in Dark on Compliance

Evidence of compliance is plain to see on most pay stubs, but state and federal laws don't require employers to routinely provide this crucial detail to the government. Without this data, wage enforcers who are empowered to investigate generally wait until a worker complains. And many workers — especially those in precarious situations — fear they'll be fired if they speak up. "It's pretty shocking how common the violations are," said Donna Levitt, a labor enforcement director in San Francisco.   read more

Health Law Seen as Reducing Medical Debt of Low-Income Americans

One in five Americans still struggle to pay a medical bill, even after the health law. But studies show the number has declined as insurance coverage has expanded. Also, the lower debt burden for the newly insured indirectly helps others. Insurance coverage means more bills are paid to doctors and hospitals — but also to banks, utilities and landlords. That receives less attention than the health law’s more obvious effects on access to health care. But they're an important effect of the law.   read more

In Separate Cases, CIA and Supreme Court Approve Paths for Benefit Payments to Terror Victims’ Families

The CIA has secured funds to begin paying out death benefits of up to $400,000 each to families like the Dohertys who are survivors of federal employees or contractors killed in acts of terrorism overseas. The benefits will be available to families of victims dating back as far as 1983, when suicide bombers killed dozens of people at the U.S. Embassy in Beirut. The agency has not released the specific number of families who qualify, but it's believed to be several dozen.   read more

“Made in USA” Label No Match for Lower Sticker Price for Most Americans

Presidential candidates like Trump and Sanders may vow to bring back millions of American jobs lost to foreign competitors. But a mere 9% say they only buy American. Asked about a real world example of choosing between $50 pants made in another country or an $85 pair made in the U.S., 67% say they'd buy the cheaper pair. Only 30% would pony up for the more expensive American-made one. People in higher earning households earning more than $100,000 a year would also go for the lower priced item.   read more

New Treasury Dept. Rules Torpedo Pfizer-Allergan Tax-Avoidance Merger

The rules wiped out Pfizer's financial incentives and rationale for the merger. It was Pfizer's third, and most expensive, failed attempt at an inversion, leaving analysts to speculate Pfizer will drop the strategy for good. The merger would have moved Pfizer's address on paper to Ireland, where it would have paid hundreds of millions of dollars less in annual U.S. corporate taxes. Pfizer had $23.3 billion available at the end of 2015, when it posted a profit of $9.1 billion.   read more

Fraudulent Cancer Charities Agree to Close Shop in Settlement with FTC

All 50 states had joined the FTC in a complaint against four cancer charities, saying they wasted and misused $187 million in charitable contributions. Each of the charities claimed to directly support people with cancer - saying donation dollars bought patients medications, transportation to doctors and hospice care. The government said none of the organizations provided any such services. Instead, they went to "fund someone's lavish lifestyle."   read more

After 7 Years and $86 Million, DEA’s Spy Plane for Afghanistan Never Used on Afghan Missions

The plan to buy and modify the plane ended up costing four times as much as the agency's original $22 million estimate, in part because the DEA bought a model that didn't meet its technical needs and failed to keep the records necessary to guarantee a DOD subcontractor performed the right changes to the aircraft. The report called the program "an ineffective and wasteful use of government resources." A hangar in Afghanistan, specifically built to house the aircraft, has stood empty since 2013.   read more

Indian Tribe Claims V.A. Withholds Lawful Reimbursements for Veterans Care

In a complaint filed in federal court on Tuesday, the Gila River Indian Community claims the department owes them for health care provided to veterans going back to March 2010. Under Obama's health care law, the VA must reimburse Indian tribes for health care services to veterans who seek care from tribal clinics or hospitals instead of a VA facility. Gila officials say they have tried for years to negotiate with the VA and even sent a delegation to meet with officials in Washington, D.C.   read more

Does Banks’ Withdrawal from Coal Financing Mean Industry’s End is near?

JPMorgan Chase announced two weeks ago that it would no longer finance new coal-fired power plants. The retreat follows similar announcements by Bank of America, Citigroup and Morgan Stanley that they are backing away from coal. Wall Street’s broad retreat is an ominous sign for the industry. “There are always going to be periods of boom and bust,” said Chiza Vitta, a metals and mining analyst. “But what is happening in coal is a downward shift that is permanent.”   read more
1 to 16 of about 1744 News
1 2 3 ... 109 Next

Where is the Money Going?

1 to 16 of about 1744 News
1 2 3 ... 109 Next

Two-Thirds of Americans Would Struggle to Pay for a $1,000 Emergency

These difficulties span all incomes, according to the poll. Three-quarters of people in households making less than $50,000 a year and two-thirds of those making between $50,000 and $100,000 would have difficulty coming up with $1,000 to cover an unexpected bill. Even for the country's wealthiest 20% — households making more than $100,000 a year — 38% say they would have at least some difficulty coming up with $1,000.   read more

Study Finds Middle Class Shrinking in Four-Fifths of Metro Areas

In cities across America, the middle class is hollowing out. A widening wealth gap is moving more households into either higher- or lower-income groups in major metro areas, with fewer remaining in the middle. Middle class adults now make up less than half the population in such cities as New York, L.A., Boston and Houston. That sharp shift reflects a broad erosion--one that has has animated this year's presidential campaign, lifting the insurgent candidacies of Donald Trump and Bernie Sanders.   read more

F-35 Fighter Jet Program, Touted as Affordable, is Far from It, as Lockheed Raises Prices at Will

The cornerstone of the Joint Strike Fighter program is affordability. The program was sold using affordability as its battle cry. The program promised to "affordably develop the next generation strike fighter weapons system to meet an advanced threat (2010 and beyond), while improving lethality, survivability, and supportability." The affordability was addressed by combining multiple programs into one. It didn't work, especially with poor project management.   read more

Increase in Lawsuits against Americans in Debt Attributed to Growth of Debt Buyouts

Our study compared black and white neighborhoods, and we found that in the same city, the mostly black neighborhoods had twice as many court judgments as the mostly white neighborhoods, even when accounting for income. One big firm, Pressler & Pressler, obtained at least 76,000 judgments for its clients. In about 69,000 of those suits, the firm used the same attorney who took as little as four seconds to review a suit, and he did between 300 and 400 — sometimes as many as 1,000 — per day.   read more

7 of 10 Most Profitable U.S. Hospitals are Non-Profits

Money-making hospitals include nonprofits such as the Carle Foundation Hospital in Illinois, where a state appeals court in January ruled a state law allowing hospitals to avoid taxes is unconstitutional. Urbana Mayor Laurel Prussing said her city lost 11% of its assessed tax value when Carle stopped paying $6.5 million a year in property taxes. "We need to question this whole idea of what not-for-profit means," Prussing said. "This is a highly profitable business that manages to not pay taxes."   read more

Sioux Tribe Accuses Government of Underfunding Native American Health Care

A tribe attorney said: "All we're seeking is for the citizens of Rosebud to get what they've been promised here. We're not suing because the emergency room was shut down. We're suing because [the federal government] under law is required to deliver an open emergency room that provides reasonable medical care. The emergency room has been closed for five months...?" The Sioux say "the federal government spends less on Indian health care than on any other group receiving public health care."   read more

Debt Collectors’ Dream: Nebraska makes it Easy to Go after Poor for Unpaid Medical Debts

Suing someone in Nebraska is cheaper and easier. The cost to file a lawsuit in that state is $45. About 79,000 debt collection lawsuits were filed in Nebraska courts in 2013 alone. Suing became an irresistible bargain for debt collectors. It’s a deal collectors have fought to keep, opposing even the slightest increase. For debtors, unaffordable debts turn into unaffordable garnishments, destroying already tight budgets and sending them into a loop.   read more

Loophole in Enforcement of “Living Wage” Laws: State Governments Kept in Dark on Compliance

Evidence of compliance is plain to see on most pay stubs, but state and federal laws don't require employers to routinely provide this crucial detail to the government. Without this data, wage enforcers who are empowered to investigate generally wait until a worker complains. And many workers — especially those in precarious situations — fear they'll be fired if they speak up. "It's pretty shocking how common the violations are," said Donna Levitt, a labor enforcement director in San Francisco.   read more

Health Law Seen as Reducing Medical Debt of Low-Income Americans

One in five Americans still struggle to pay a medical bill, even after the health law. But studies show the number has declined as insurance coverage has expanded. Also, the lower debt burden for the newly insured indirectly helps others. Insurance coverage means more bills are paid to doctors and hospitals — but also to banks, utilities and landlords. That receives less attention than the health law’s more obvious effects on access to health care. But they're an important effect of the law.   read more

In Separate Cases, CIA and Supreme Court Approve Paths for Benefit Payments to Terror Victims’ Families

The CIA has secured funds to begin paying out death benefits of up to $400,000 each to families like the Dohertys who are survivors of federal employees or contractors killed in acts of terrorism overseas. The benefits will be available to families of victims dating back as far as 1983, when suicide bombers killed dozens of people at the U.S. Embassy in Beirut. The agency has not released the specific number of families who qualify, but it's believed to be several dozen.   read more

“Made in USA” Label No Match for Lower Sticker Price for Most Americans

Presidential candidates like Trump and Sanders may vow to bring back millions of American jobs lost to foreign competitors. But a mere 9% say they only buy American. Asked about a real world example of choosing between $50 pants made in another country or an $85 pair made in the U.S., 67% say they'd buy the cheaper pair. Only 30% would pony up for the more expensive American-made one. People in higher earning households earning more than $100,000 a year would also go for the lower priced item.   read more

New Treasury Dept. Rules Torpedo Pfizer-Allergan Tax-Avoidance Merger

The rules wiped out Pfizer's financial incentives and rationale for the merger. It was Pfizer's third, and most expensive, failed attempt at an inversion, leaving analysts to speculate Pfizer will drop the strategy for good. The merger would have moved Pfizer's address on paper to Ireland, where it would have paid hundreds of millions of dollars less in annual U.S. corporate taxes. Pfizer had $23.3 billion available at the end of 2015, when it posted a profit of $9.1 billion.   read more

Fraudulent Cancer Charities Agree to Close Shop in Settlement with FTC

All 50 states had joined the FTC in a complaint against four cancer charities, saying they wasted and misused $187 million in charitable contributions. Each of the charities claimed to directly support people with cancer - saying donation dollars bought patients medications, transportation to doctors and hospice care. The government said none of the organizations provided any such services. Instead, they went to "fund someone's lavish lifestyle."   read more

After 7 Years and $86 Million, DEA’s Spy Plane for Afghanistan Never Used on Afghan Missions

The plan to buy and modify the plane ended up costing four times as much as the agency's original $22 million estimate, in part because the DEA bought a model that didn't meet its technical needs and failed to keep the records necessary to guarantee a DOD subcontractor performed the right changes to the aircraft. The report called the program "an ineffective and wasteful use of government resources." A hangar in Afghanistan, specifically built to house the aircraft, has stood empty since 2013.   read more

Indian Tribe Claims V.A. Withholds Lawful Reimbursements for Veterans Care

In a complaint filed in federal court on Tuesday, the Gila River Indian Community claims the department owes them for health care provided to veterans going back to March 2010. Under Obama's health care law, the VA must reimburse Indian tribes for health care services to veterans who seek care from tribal clinics or hospitals instead of a VA facility. Gila officials say they have tried for years to negotiate with the VA and even sent a delegation to meet with officials in Washington, D.C.   read more

Does Banks’ Withdrawal from Coal Financing Mean Industry’s End is near?

JPMorgan Chase announced two weeks ago that it would no longer finance new coal-fired power plants. The retreat follows similar announcements by Bank of America, Citigroup and Morgan Stanley that they are backing away from coal. Wall Street’s broad retreat is an ominous sign for the industry. “There are always going to be periods of boom and bust,” said Chiza Vitta, a metals and mining analyst. “But what is happening in coal is a downward shift that is permanent.”   read more
1 to 16 of about 1744 News
1 2 3 ... 109 Next