3 chapters across the catalog
IRS Funding, Jacob Lew and Tax Compliance
Treasury Secretary Jacob Lew and Senator Dick Durbin discuss the declining level of service at the IRS due to budget cuts. Lew reports that the agency only answers about 37% of calls with an average wait time of 23 minutes. The hosts suggest the agency is engaging in a deliberate "slowdown" to pressure Congress for more funding and to target "tax cheaters."
Social Security Funding, Wealth Gap Statistics
Treasury Secretary Jacob Lew reported that while combined Social Security funds are sufficient for 19 years, the disability program specifically faces a shortfall within two years. Simultaneously, a Pew Research Center report indicates the wealth gap in the United States has reached a 30-year high. Data shows that affluent families increased their wealth from 2010 to 2013, while low-income families saw a decline in net worth.
The hosts discuss the resignation of White House Chief of Staff Bill Daley and his replacement by Jacob Lew. They highlight Lew's background as a former executive at Citigroup and a member of the Council on Foreign Relations. They characterize Lew as a "bankster" and a "technocrat" who will effectively run the country.
