Economy

 
 

The Internal Revenue Service collects about $500 million each year in user fees, which it is free to spend as it sees fit without congressional approval.

This past year, the IRS decided to spend this money on “other priorities,” as opposed to using the money to bolster its customer service unit, even as the agency was failing to keep up with the influx of customer service calls that flooded the IRS in the lead-up to tax day.

 
 

The amusing headline of the day comes from ECB Executive Board Member Benoit Coeure who told Greek newspaper Kathimerini on Wednesday in an interview ECB to Fund Greek Banks as Long as They Stay Solvent.
The European Central Bank will continue to provide liquidity to Greece's banks as long as they remain solvent and have sufficient collateral, ECB Executive Board Member Benoit Coeure told Greek newspaper Kathimerini on Wednesday in an interview.

 
 

Uber definitely has its issues but we should nonetheless be happy that it’s opened up some more competition for personal transportation services. Many taxi moguls, however, are not pleased by the additional competition since it’s cut into their profits by considerable sums. However, we don’t think we’ve ever heard any of them go as far as Evgeny Freidman, a taxi fleet owner who told The New York Times recently that he’s deserving of an AIG-style government bailout.

 
 

Every year since 2011, the White House has used tax time to post a "Federal Taxpayer Receipt" showing taxpayers how their federal tax dollars are being spent. President Obama introduced the concept in his 2011 State of the Union address, and Wednesday the White House posted the fifth installment so taxpayers can see how "tax dollars are being spent on priorities like education, veterans benefits, and health care."

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