Tech
Why The IRS Is Still Struggling To Fund The Government
The Internal Revenue Service brings in approximately 96% of the federal government’s funding every year. In fiscal year 2021 alone, the IRS collected $4.1 trillion dollars in gross taxes. But funding for the agency declined by more than 20% between 2010 through 2019 when adjusted for inflation. This budget squeeze corresponded with a decline in tax audit rates across all income brackets, with the highest earners seeing the largest percent change. In August 2022, President Biden signed the Inflation Reduction Act into law, which set aside nearly $80 billion for the IRS to be used over the next 10 years. Watch the video above to learn more about how the IRS works and how budget cuts have affected the agency.
Chapters:
00:00 — Introduction
01:44 — How the IRS works
03:23 — Funding
07:16 — Decline in audits
Produced by: Charlotte Morabito
Additional Reporting by: Kate Dore, Robert Frank
Additional Camera by: Andrea Miller
Edited by: Dain Evans, Nic Golden Henry
Graphics by: Mallory Brangan
Supervising Producer: Lindsey Jacobson
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Why The IRS Is Still Struggling To Fund The Government
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Tech
Security Flaws Prompt Apple To Issue iOS Update | Tech Bet | CNBC
Unprecedented hack attempt prompts Apple to issue security update.
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Security Flaws Prompt Apple To Issue iOS Update | Tech Bet | CNBC
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Tech
Facebook, Amazon, Netflix And Google: Experts On FANG Stocks
Before Apple’s record run to $1 trillion on Thursday, the tech sector was in trouble. Here’s what 11 experts had to say about the tech sector’s up-and-down week.
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Facebook, Amazon, Netflix And Google: Experts On FANG Stocks | CNBC
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Tech
Circle CEO Jeremy Allaire: Bitcoin And Blockchain Are ‘Fundamental Breakthroughs’ | CNBC
Jeremy Allaire, Circle co-founder and CEO, discusses the factors he believes are driving bitcoin’s record rally.
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Circle CEO Jeremy Allaire: Bitcoin And Blockchain Are ‘Fundamental Breakthroughs’ | CNBC
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Tech
How Much It Will Take To Challenge China’s Battery Dominance
The Department of Energy is investing $500 million in U.S. battery companies to challenge China’s dominance. But with $24 billion in projects already canceled since the administration first came into office, industry experts say closing the gap will be difficult.
Chapters:
00:00 Introduction
01:07 Chapter 1: China’s dominance
04:05 Chapter 2: Gaps and slowdowns
Produced by: Robert Ferris
Edited by: Marisa Forziati
Animations: Andrea Schmitz, Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, Natalie Rice, Lilac Solutions
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How Much It Will Take To Challenge China’s Battery Dominance
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Tech
Why Election Officials Are Worried About Prediction Markets
Delaware County, Pennsylvania, and Maricopa County, Arizona, have adopted policies addressing employee prediction market activity. Officials say the rules are meant to prevent financial conflicts, protect workers from allegations and reassure voters, not respond to evidence that election workers have used the markets. CNBC’s Ananya Chetia reports on how prediction markets are prompting new safeguards and raising questions about nonpublic information and voter trust.
Chapters:
0:00 Introduction
1:30 Potential conflicts
4:03 Prediction markets
7:18 Influencing elections?
Produced by: Charlotte Morabito
Reporter: Ananya Chetia
Edited by: Andrea Miller, Darren Geeter
Animation: Jason Reginato, Emily Park
Senior Managing Producer: Shawn Baldwin
Additional Footage: Getty Images
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Why Election Officials Are Worried About Prediction Markets
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