News ArticlesExcerpts of Key News Articles in Major Media
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Gabriel Zucman started his first real job the Monday after the collapse of Lehman Brothers. A decade later, Zucman, 32, is an assistant professor at the University of California at Berkeley and the world’s foremost expert on where the wealthy hide their money. His doctoral thesis ... exposed trillions of dollars’ worth of tax evasion by the global rich. For his most influential work, he teamed up with his Berkeley colleague Emmanuel Saez. Their 2016 paper, “Wealth Inequality in the United States Since 1913,” distilled a century of data to answer one of modern capitalism’s murkiest mysteries: How rich are the rich in the world’s wealthiest nation? The answer - far richer than previously imagined - thrust the pair deep into the American debate over inequality. Zucman and Saez’s latest estimates show that the top 0.1% of taxpayers - about 170,000 families in a country of 330 million people - control 20% of American wealth, the highest share since 1929. The top 1% control 39% of U.S. wealth, and the bottom 90% have only 26%. The bottom half of Americans combined have a negative net worth. The shift in wealth concentration over time charts as a U, dropping rapidly through the Great Depression and World War II, staying low through the 1960s and ’70s, and surging after the ’80s as middle-class wealth rolled in the opposite direction. Zucman has also found that multinational corporations move 40% of their foreign profits, about $600 billion a year, out of the countries where their money was made and into lower-tax jurisdictions.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
The Federal Reserve recently reported that about half of Americans have virtually no wealth at all, with four in 10 unable to afford a $400 emergency expense. That means that if their car breaks down or their child gets sick, they have to charge those expenses to a credit card. And when they do that, they get ripped off — big time. Despite the fact that banks can borrow money from the Fed at less than 2.5%, the median credit card interest rate ... is now over 21%. Last year, Wall Street banks made $113 billion in credit card interest alone, up by nearly 50% in just five years. In other words, while working class Americans pay outrageously high interest rates, Wall Street banks get rich. And if you live in a low-income community without a bank or cannot get a credit card, what do you do when you need to borrow money? You may have to turn to a predatory payday lender where the average interest rate on an annual basis is a jaw-dropping 391%. When banks and payday lenders charge these unconscionably high interest rates, they are not engaged in the business of making credit available. They are involved in extortion. We need a national usury law that caps interest rates ... at 15%. And that's exactly what the legislation I introduced with Representative Alexandria Ocasio-Cortez would do. Under our Loan Shark Prevention Act, we would make sure that no bank or store in America could charge an interest rate higher than 15%. 88% of Americans support a cap on credit card interest rates.
Note: The above was written by Senator Bernie Sanders. For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and income inequality.
In its latest budget request, the Trump administration is asking for a near-record $750 billion for the Pentagon and related defense activities. If passed by Congress, it will be one of the largest military budgets in American history, topping peak levels reached during the Korean and Vietnam wars. That $750 billion represents only part of the actual annual cost of our national-security state. There are at least 10 separate pots of money dedicated to fighting wars, preparing for yet more wars, and dealing with the consequences of wars already fought. The Pentagon’s regular, or base, budget is slated to be $544.5 billion in fiscal year 2020. The Pentagon’s own Defense Business Board found that cutting unnecessary overhead, including a bloated bureaucracy and a startlingly large shadow workforce of private contractors, would save $125 billion over five years. The Pentagon also maintains its very own slush fund, formally known as the Overseas Contingency Operations account, or OCO. In theory, the fund is meant to pay for the War on Terror. Of the nearly $174 billion proposed for the war budget and “emergency” funding, only a little more than $25 billion is meant to directly pay for the wars in Iraq, Afghanistan, and elsewhere. The rest will be set aside for what’s termed enduring activities that would continue even if those wars ended or for routine Pentagon activities. Our final annual tally for war, preparations for war, and the impact of war comes to more than $1.25 trillion, more than double the Pentagon’s base budget.
Note: Read summaries of several major media articles showing the Pentagon's blatant lies and disregard for accounting. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the military.
All of us have had the experience of wandering through a lush garden or a timeless desert, walking by a river or an ocean, or climbing a mountain and finding ourselves simultaneously calmed and reinvigorated. The importance of these physiological states on individual and community health is fundamental and wide-ranging. In 40 years of medical practice, I have found only two types of non-pharmaceutical “therapy” to be vitally important for patients with chronic neurological diseases: music and gardens. I cannot say exactly how nature exerts its calming and organizing effects on our brains, but I have seen in my patients the restorative and healing powers of nature and gardens, even for those who are deeply disabled neurologically. In many cases, gardens and nature are more powerful than any medication. My friend Lowell has moderately severe Tourette’s syndrome. In his usual busy, city environment, he has hundreds of tics and verbal ejaculations each day - grunting, jumping, touching things compulsively. I was therefore amazed one day when we were hiking in a desert to realize that his tics had completely disappeared. The remoteness and uncrowdedness of the scene, combined with some ineffable calming effect of nature, served to defuse his ticcing, to “normalize” his neurological state. The effects of nature’s qualities on health are not only spiritual and emotional but physical and neurological. I have no doubt that they reflect deep changes in the brain’s physiology, and perhaps even its structure.
Note: The above is excerpted from “Everything in Its Place,” a posthumous collection of writings by Dr. Oliver Sacks. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Students in England already learn about mathematics, science and history, but hundreds of schools are preparing to expand the traditional curriculum with a new subject: mindfulness. In up to 370 English schools, students will start to practice mindfulness as part of a study to improve youth mental health. They will work with mental health experts to learn relaxation techniques, breathing exercises and other methods to help them regulate their emotions, the government said. The study, which will run until 2021, is one of the largest of its kind in the world. As a society, we are much more open about our mental health than ever before, but the modern world has brought new pressures for children, Damian Hinds, the British education secretary, said. Children will start to be introduced gradually to issues around mental health, well-being and happiness right from the start of primary school, he added. The initiative comes months after a survey commissioned by the National Health Service found that one in eight children in England between the ages of 5 and 19 suffered from at least one mental disorder at the time of their assessment in 2017. Dr. Jessica Deighton ... who is leading the government trials, said that the new initiative was intended to offer more than quick fixes. There is a tendency to think that the solution is mental health intervention, she said. We will try to reduce the stigma against mental health problems, by making the school environment literate in mental health.
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If youve ever felt that your green credentials have gone unrewarded, it might be worth considering a move to the Italian city of Bologna. For six months a year, an initiative called Bella Mossa (Good Job) operates within the city, which rewards users of sustainable forms of transport with free beer, ice cream or film tickets. The programme ... aims to reduce pollution and offers residents and visitors an incentive to walk, cycle or take public transport, rather than travel by car. Participants simply download the Better Points app on their phone, where they can log up to four journeys per day. Over 100 businesses in Bologna have signed up to the scheme to offer benefits for points accrued. Points are awarded for the number of trips taken, rather than the distance covered. Whether you travel one kilometre or 10, the points will remain the same. To avoid any abuse of the system, a GPS tracker makes sure people are being honest about the journeys they log and the method of transport used. The app also tells users how much CO2 was saved on each journey. Urban planner Marco Amdori devised the scheme in 2017; its funded by the EU and Bolognas local government. Last year, [Bella Mossa] recorded 3.7 million kilometres of sustainable journeys in the city. This isnt the first time Bologna has led the way when it comes ethical living. In 2008, the Festival of Responsible Travel was established in the city and has continued to run annually ever since.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Professor Lord Martin Rees has revealed the "worst case scenario" for particle accelerators - and they could mean the end of Earth as we know it. He warns that if things went wrong, they could result in a black hole being formed, or the Earth being turned into a "hyperdense sphere". Particle accelerators like the Large Hadron Collider shoot particles at incredibly high speeds, smash them together, and observe the fallout. While they have led to massive breakthroughs ... they also carry a high risk, Rees says in his new book On The Future: Prospects for Humanity. "Maybe a black hole could form," he writes. "The second scary possibility is that the quarks would reassemble themselves into compressed objects called strangelets. Under some hypotheses a strangelet could, by contagion, convert anything else it encounters into a new form of matter, transforming the entire earth. Many of us are inclined to dismiss these risks as science fiction, but give the stakes they could not be ignored." Cern writes on their website "The LHC Safety Assessment Group (LSAG) reaffirms and extends the conclusions of the 2003 report that LHC collisions present no danger and that there are no reasons for concern. Whatever the LHC will do, nature has already done many times over during the lifetime of the Earth and other astronomical bodies."
Note: Why aren't any other media reporting on this vitally important topic? For more along these lines, see concise summaries of deeply revealing news articles on the nature of reality.
It looks like an ordinary commercial warehouse, only much bigger. When the lights come on, hundreds of thousands of shrink-wrapped boxes of medicines emerge from the gloom, stacked on shelves nearly five stories high. This [warehouse] and several others across the country are part of the $7 billion Strategic National Stockpile, a government repository of drugs and supplies ready for deployment in a bioterrorism or nuclear attack, or ... other major public health emergency. For nearly two decades, the repository has been almost exclusively managed by the Centers for Disease Control and Prevention. That will change under a Trump administration plan to shift oversight of the $575 million program. Public health officials and members of Congress ... worry the move will disrupt a complex process that relies on long-standing relationships. Experts also question whether the administration’s plan will politicize decision-making about products bought for the stockpile. The office of the assistant secretary for preparedness and response (ASPR) oversees the process by which the government awards contracts to private biotechnology companies that develop and manufacture medicines. The CDC then is responsible for buying and replenishing the materials. Come October, however, the ASPR will be in charge of choosing the products and then purchasing them for the stockpile. Critics say it will allow biotech companies to lobby for more of their specialized, and often more expensive, drugs to be included.
Note: With a $7 billion price tag, big Pharma is making money hands over fist on this repository which is almost never used. Most of these drugs have a shelf life of well under 10 years, so major parts of this huge inventory go to waste every year and have to be disposed of. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
Dick Burgess [was on] a trip in search of qi, or as it's sometimes spelled in the West, chi - the invisible life force that, according to traditional Chinese medicine, flows through our bodies and through the universe. According to this belief, a person can learn to control his own qi energy to promote his health and the health of others. Burgess [drove] to visit a man named Arn, a kung fu master. Burgess is a neurophysiologist at the University of Utah. He is also president of the Society for Integrated Health, a group ... interested in what is usually loosely referred to as "holistic medicine." A dozen or so members of the group journeyed to Vernal that day. We watched Arn bring some of us to our knees by pressing lightly on our hands. When we were ready to leave, he "poured his qi" from his hands to ours and some of the people in our group said it felt like a waterfall. Later, on the way back from Vernal, Burgess was happy to see we were as perplexed as he was. He talked about the experiment he had conducted a few years before. He had Arn come to his laboratory at the U., where Arn directed his qi at bacteria growing in test tubes. Those bacteria that received qi grew at a greater rate than those bacteria not in the path's of Arn's qi. More than 100 [studies] published in China in the past decade that seem to prove that external qi can produce measurable results, says Burgess. Others, for example, show that qi transmitted from 1,000 kilometers away can change a substance's rate of radioactive decay. But for qi to be believed by Western scientists, he says, it would help if Western scientists conducted their own experiments.
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It sounds like a scene from a Spielberg film: an injured worker undergoes an emergency amputation, performed by one of her colleagues, allowing her to live another day. But this is not a human story – it is behaviour seen in ants. While it is not the first time wound care has been seen in ants, scientists say their discovery is the first example of a non-human animal carrying out life-saving amputations. Surprisingly, the insects appear to tailor the treatment they give to the location of injury. "The ants are able to diagnose, to some extent, the wounds and treat them accordingly to maximise the survival of the injured," said Dr Erik Frank, from the University of Lausanne. Writing in the journal Current Biology, Frank and colleagues report how they cut Florida carpenter ants (Camponotus floridanus) on their right hind limb, then observed the responses of their nest mates for a week. "Nest mates would begin licking the wound before moving up the injured limb with their mouthparts until they reached the trochanter. The nest mates then proceeded to repeatedly bite the injured leg until it was cut off," the team wrote. By contrast, no amputations were observed for the nine ants with injuries on their tibia, or lower leg. Instead, these ants received only wound care from their nest mates in the form of licking. "It is another example of an adaptation in the lives of social insect workers in which workers help each other to work for their colony and to help their colony," [Prof Francis Ratnieks at the University of Sussex] said. "Such as when a worker honeybee makes a waggle dance to direct a nest mate to food, or when a worker sacrifices its life in defence of the colony, or here where workers amputate the limbs of an injured or infected worker."
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Haiti was born in 1804 out of a 13-year revolution in which the enslaved people of the then French colony of Saint-Domingue dismantled their chains, defeated, in succession, the armies of France, Britain and Spain, and established a new nation. Elites in Europe and America, meanwhile, fearful that the Haitian example might embolden others struggling for freedom, sought to isolate the new nation, refusing for decades even to recognise it. In 1825, France demanded, as the price of recognition, reparations of 150m francs. France was compelling enslaved people and their descendants to pay their former masters ... forcing [Haiti] to take out loans from French banks at exorbitant rates. By 1914, 80% of the government budget went to repaying the debt. Western nations have not only impoverished Haiti, they have also constantly intervened. Jean-Bertrand Aristide [was] a leftwing priest with mass support among Haiti's working class and poor. Twice, in 1990 and 2001, waves of public support propelled Aristide to the presidency. And twice, in 1991 and 2004, he was ousted in bloody coups. After the first coup, Aristide returned to power with US support. Nevertheless, many of the coup leaders were on the CIA payroll and the agency did not hide its hostility. A decade later, opposition to Aristide's economic and social policies led America to force him out of office. Today, the Haitian state barely exists.
Note: In 2021, Colombian mercenaries who had received training in the US assassinated Haitian President Jovenel MoĂŻse. For more along these lines, see concise summaries of important news articles on intelligence agency corruption from reliable major media sources.
Carbon credit speculators could lose billions as scientific evidence shows many offsets they have bought have no environmental worth and have become stranded assets. Amid growing evidence that huge numbers of carbon credits do nothing to mitigate global heating and can sometimes be linked to alleged human rights concerns, there is a growing pile of carbon credits ... that are unused in the unregulated voluntary market, according to market analysis. Many of the largest companies in the world have used carbon credits for their sustainability efforts from the unregulated voluntary market, which grew to $2bn (Ł1.6bn) in size in 2021 and saw prices for many carbon credits rise above $20 per offset. The credits are often generated on the basis they are contributing to climate change mitigation such as stopping tropical deforestation, tree planting and creating renewable energy projects. A new study in the journal Science has found that millions of forest carbon credits approved by Verra, the world's leading certifier, are largely worthless and could make global heating worse if used for offsetting. The analysis ... found that 18 big forest offsetting projects had produced millions of carbon credits based on calculations that greatly inflated their conservation impact. The schemes, which generate credits by avoiding hypothetical deforestation, were found not to reduce forest loss or to reduce it by only small amounts, far less than the huge areas they were claiming to protect, rendering the credits largely hot air.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and climate change from reliable major media sources.
In 2021, Latoya Tart found herself deep in debt. She had taken out several loans, and struggled to pay them off while still paying for other necessities, including rent and groceries. Then Tart ... learned about a program offering financial counseling free of charge to any resident of Tulsa, Oklahoma. She started seeing a financial counselor at The Financial Empowerment Center in September 2021. The Center is a partnership between the City of Tulsa and Goodwill Industries. "We are really building capacity at the city level, to support and grow and build collaboration among the providers in town who are working to move the needle on financial stability, financial resiliency for Tulsans," says Janae Bradford, director of the City of Tulsa's Office for Financial Empowerment and Community Wealth. During the first session with each new client, a counselor conducts a financial health assessment. "That's where the counselor and the client just go through the financial situation," she says. "How much are you making from your job? What money is coming in? What money's going out? And it's a completely non-judgmental, just comfortable, conversation about what are the facts." Then the counselor and client decide on their main focus area and set a goal. Since the Center opened in December 2020, the FEC has worked with more than 1,300 clients, and counselors have completed more than 2,000 sessions. There are currently 639 active clients working with counselors on their financial goals.
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We celebrate World Press Freedom Day in May as a reminder that the role of news organizations is to speak truth to power. It's an occasion to remember three people who exemplify the need to speak the truth: Daniel Ellsberg of Pentagon Papers fame and Julian Assange of WikiLeaks; and also of Chelsea Manning, without whom we would not have the proof of what the United States was doing, not only in Iraq and Afghanistan but all across the globe. Ellsberg's Pentagon Papers were a mere 7,000 pages, and he photocopied them by hand. Chelsea Manning's "papers", which Assange outed, earning the U.S. government's enmity, consisted of about 750,000 documents. Assange and WikiLeaks that made possible for Manning's information to reach people across the globe. And even when he and Manning have been arrested, jailed and isolated, the information on Wikileaks still continues to be accessible to all of us. Even today the Baghdad video of Collateral Murder, posted on WikiLeaks, was seen across the world and brought home that the United States was lying and involved in a massive cover-up of its war crimes. The Diplomatic Cables on Wikileaks informed the Tunisian people about the kleptocratic rule of the Ben Ali family and started what was later named as Arab Spring. Just as the surveillance state has invaded every nook and corner of our lives, the pathological need of the surveillance state to access and store all this information also makes the state porous and vulnerable.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and media manipulation from reliable sources.
On at least four occasions since 2019, Elon Musk has predicted that his medical device company, Neuralink, would soon start human trials of a revolutionary brain implant to treat intractable conditions such as paralysis and blindness. Yet the company, founded in 2016, didn't seek permission from the U.S. Food and Drug Administration (FDA) until early 2022 – and the agency rejected the application. Musk has detailed a bold vision for Neuralink: Both disabled and healthy people will pop into neighborhood facilities for speedy surgical insertions of devices with functions ranging from curing obesity, autism, depression or schizophrenia to web-surfing and telepathy. Musk also has said Neuralink would restore full mobility to paralyzed patients. Reuters exclusively reported late last year that the federal government was investigating the company's treatment of its research animals. The probe was launched amid growing employee concern that the company is rushing experiments, causing additional suffering and deaths of pigs, sheep and monkeys. Musk's company ... trails at least one direct rival in the race for FDA approval. Synchron, a competitor making a BCI implant, has won the agency's blessing for human trials. The company first tested its device on four patients in Australia who successfully sent text messages with their minds. Synchron recently raised $75 million, including from funds backed by tech billionaires Bill Gates and Jeff Bezos.
Note: For more along these lines, see concise summaries of deeply revealing news articles on microchip implants from reliable major media sources.
For generations of most American families, getting children vaccinated was just something to check off on the list of back-to-school chores. But after the ferocious battles over Covid shots of the past two years, simmering resistance to general school vaccine mandates has grown significantly. Now, 35 percent of parents oppose requirements that children receive routine immunizations in order to attend school, according to a new survey released Friday by the Kaiser Family Foundation. Forty-four percent of adults who either identify as Republicans or lean that way said in the latest survey that parents should have the right to opt out of school vaccine mandates, up from 20 percent in a prepandemic poll conducted in 2019 by the Pew Research Center. In contrast, 88 percent of adults who identify as or lean Democratic endorsed childhood vaccine requirements, a slight increase from 86 percent in 2019. The survey found that 28 percent of adults overall believed parents should have the authority to make school vaccine decisions for their children, a stance that in the 2019 Pew poll was held by just 16 percent of adults. The shift in positions appears to be less about rejecting the shots than a growing endorsement of the so-called parents' rights movement. Indeed, 80 percent of parents said that the benefits of vaccines for measles, mumps and rubella outweighed the risks, down only slightly from 83 percent in 2019. The latest survey was based on interviews with a nationally representative sample of 1,259 adults.
Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.
Australia will set aside at least 30% of its land mass for conservation in a bid to protect plants and animals in the island continent famed for species found nowhere else in the world, Environment Minister Tanya Plibersek said. Australia has lost more mammal species than any other continent and has one of the worst rates of species decline among the world's richest countries, a five-yearly environmental report card released in July by the government showed. That report showed the number of species added to the list of threatened species or in a higher category of risk grew on average by 8% from the previous report in 2016. "The need for action to protect our plants, animals and ecosystems from extinction has never been greater," Plibersek said in a statement. By prioritising 110 species and 20 places, Plibersek said the areas managed for conservation will be increased by 50 million hectares. Australia ... is home to unique animals like koalas and platypus although their numbers have been dwindling due to extreme weather events and human encroachment into their habitats. Koalas along much of the east coast were listed as endangered in February. Australia has been battered recently by frequent extreme weather events including the devastating bushfires in 2019 and 2020 in the east that killed ... billions of animals and burned an area nearly half the size of Germany.
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In early 2018, former National Security Agency chief Keith Alexander worked out a deal with Saudi Crown Prince Mohammed bin Salman and the cyber institute led by one of his closest aides, Saud al-Qahtani, to help the Saudi ruler train the next generation of Saudi hackers. The agreement between IronNet, founded by Alexander, and the cyber school ... faced no scrutiny for its association with Qahtani, after the brutal killing of Jamal Khashoggi he reportedly orchestrated just a few months later. Alexander officially inked the deal with the Prince Mohammed bin Salman College of Cyber Security, Artificial Intelligence, and Advanced Technologies – a school set up to train Saudi cyber intelligence agents – at a signing ceremony in Washington, D.C.. Saudi Arabia's agreement with IronNet was part of a host of moves to step up its cyber capabilities, coinciding with a campaign against the kingdom's critics abroad. Khashoggi, then a Washington Post columnist and prominent Salman critic, received a series of threatening messages, including one from Qahtani, warning him to remain silent. Khashoggi, whose family and close associates discovered listening malware electronically implanted on their smartphones, was then lured to the Saudi Embassy in Istanbul. It was there that a team dispatched by Qahtani detained and tortured the Saudi government critic. Qahtani, according to reports, beamed in through Skype to insult Khashoggi during the ordeal. Khashoggi was then dismembered with a bone saw.
Note: For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption from reliable major media sources.
The head of the Centers for Disease Control and Prevention on Wednesday said the agency must make drastic changes to respond better and faster to public health emergencies, following missteps during the Covid pandemic. The agency has faced widespread criticism throughout the pandemic for its slow responses and often confusing messaging on masking and other mitigation measures. "In our big moment, our performance did not reliably meet expectations," [Dr. Rochelle] Walensky said. Dr. Richard Besser, former acting CDC director and current president of the Robert Wood Johnson Foundation, said overhauling the agency's public messaging is "absolutely essential." "A lot of the scientists at CDC are really good at doing science, and a lot of the responders are really good at doing response," he said. "But that doesn't mean they're good at explaining it in ways that will be useful to the general public." That's potentially a lasting problem for an agency that's often been lagging in its public outreach, said Dr. Mario Ramirez, an emergency physician and former pandemic and emerging threats coordinator under President Barack Obama. "The real challenge that faces CDC," Ramirez said on NBC News Now, "is that it is extremely difficult to communicate complex scientific issues at a speed that is so fast, faster than the Twittersphere." "The margin for error is so small. If you make a mistake in public health, it takes a very long time to regain public trust," he said.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.
The audit rate for Americans earning more than $5 million a year plunged to just over 2% in 2019 from over 16% in 2010, according to a recent report from the Government Accountability Office, a federal watchdog. The report estimated that taxpayers underreported their income tax by a combined $245 billion a year between 2011 and 2013, and said that "taxpayers are more likely to voluntarily comply with the tax laws if they believe their return may be audited." The main reason for the decline, according to the report, is a lack of IRS funding. In fiscal year 2021, the agency's budget was $11.9 billion – $200 million less than its 2010 budget. The IRS also has seen its staffing levels fall to the same levels as 1973. The decline in funding and auditors means that taxpayers, and especially the top earners, are far less likely to get caught underpaying their taxes than a decade ago. Overall audit rates for American taxpayers fell to 0.2% in 2019 from 0.9% in 2010. The wealthy are still audited at a higher rate than the general taxpayer population. Yet their audit rates have declined at a much higher rate. The audit rate for taxpayers earning between $5 million and $10 million fell to 1.4% from 13.5%. Those earning more than $10 million saw their audit rate fall to 3.9% in 2019 from 21.2% in 2010, while audit rates for $10 million-plus earners ticked up slightly for the 2017 and 2018 tax years due to a Treasury Department mandate to impose audit rates of at least 8% on those making $10 million or more.
Note: For more along these lines, see key news articles on the financial industry from reliable major media sources.
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