Tag Archives: Diego Pérez Morales

MiBolsillo Colombia: 800,000 Jobs Lost in the U.S.: Are Trump’s Tariffs to Blame?

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800,000 Jobs Lost in the U.S.: Are Trump’s Tariffs to Blame?

The U.S. labor market is experiencing a turbulent phase in 2025, with job losses reaching alarming levels. Reports indicate that over 800,000 jobs have been cut in the first seven months of the year, marking a 75% increase compared to the same period in 2024. This surge in job cuts is the highest since the COVID-19 pandemic in 2020, which saw over 1.8 million layoffs. 

A report by Challenger, Gray & Christmas highlights three primary causes for these job cuts. Among them, the economic conditions and uncertainty stemming from the tariffs imposed during Trump’s administration are significant contributors. These tariffs have increased the cost of essential inputs for many U.S. businesses, squeezing profit margins.

Andrew Challenger, a labor expert, noted that tariff-related concerns have directly impacted nearly 6,000 jobs this year. The lack of clarity on whether tariffs will remain, increase, or decrease adds to the economic uncertainty, making it challenging for businesses to strategize effectively. However, tariffs are not the sole factor in the current employment crisis.

The report also points to the controversial federal budget cuts enacted by the Trump administration, which have resulted in the loss of 289,679 jobs. These cuts have affected the federal workforce and its contractors, impacting non-profit organizations, the healthcare sector, and government operations. Agencies like the IRS are now struggling to fill critical gaps left by these reductions.

Technological advancements, particularly in Artificial Intelligence (AI), have emerged as another significant factor. The report indicates that automation and AI-related technological updates have led to the loss of 20,219 jobs, with an additional 10,375 cuts directly attributed to these advancements. This trend highlights a rapid shift in the labor market driven by the adoption of new technologies.

While Trump’s tariffs have undeniably contributed to economic uncertainty and job losses, the current wave of layoffs in the U.S. is the result of a confluence of factors. These include federal budget cuts and the rise of AI, which are reshaping the labor landscape. The interplay of these elements underscores the complexity of the employment challenges facing the nation.

800,000 Jobs Lost in the U.S.: Are Trump’s Tariffs to Blame?
In 2025, the U.S. faces a significant employment crisis, with over 800,000 jobs lost. While Trump’s tariffs are a factor, they are not the sole cause.

https://www.mibolsillo.co/news/800000-Jobs-Lost-in-the-U.S.-Are-Trumps-Tariffs-to-Blame-20250908-0019.html

Explicame: 7 Million Immigrant Taxpayers Could Be Investigated Over Shared IRS Data

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The Internal Revenue Service (IRS) has initiated a controversial data-sharing program with immigration authorities, targeting up to 7 million immigrants. This move is part of a broader deportation effort under the Trump administration, following an agreement between the Department of the Treasury and the Department of Homeland Security (DHS). The agreement allows the DHS to access taxpayer information to locate immigrants facing deportation orders or federal criminal investigations.

In April, the IRS and DHS signed an agreement to share taxpayer data, marking a significant shift in policy. The IRS, which traditionally maintains strict confidentiality of taxpayer information, is now providing personal details such as names, addresses, and tax data. This initiative aims to assist the DHS in confirming the locations of individuals with final deportation orders or under federal criminal investigation.

Impact on IRS and Its Employees

The decision to share data has caused internal turmoil within the IRS. Employees were reportedly shocked by the DHS’s request to access data on 7 million immigrants. Concerns over the legality of this collaboration have led to the resignation or imminent departure of several high-ranking IRS officials. The controversy also coincides with the removal of Billy Long as IRS commissioner, further highlighting the agency’s internal challenges.

Despite the DHS’s request for information on 1.23 million individuals, the IRS shared data on less than 5% of those requested. The lack of exact matches between ICE’s data and IRS records limited the amount of information shared. This outcome has reportedly displeased the White House, which expected a more substantial data exchange to support its immigration enforcement efforts.

The data-sharing agreement raises significant legal and ethical questions. While IRS data is generally confidential, exceptions exist for law enforcement investigations. However, it remains unclear if the DHS has provided sufficient evidence to justify accessing IRS data for non-tax-related investigations. Immigration advocates argue that this agreement breaches the IRS’s duty to protect taxpayer information and sets a concerning precedent for future data sharing.

Many immigrants register with the IRS and pay taxes to demonstrate their compliance with U.S. laws, hoping it will aid their immigration cases. The new data-sharing initiative undermines this trust, potentially deterring immigrants from fulfilling their tax obligations. The fear of deportation may discourage immigrants from engaging with the IRS, impacting tax revenue and complicating immigration cases.

7 Million Immigrant Taxpayers Could Be Investigated Over Shared IRS Data
The IRS has begun sharing confidential taxpayer data with immigration authorities, targeting 7 million immigrants in a controversial move under the Trump administration.

https://www.explica.me/en/news/7-Million-Immigrant-Taxpayers-Could-Be-Investigated-Over-Shared-IRS-Data-20250809-0001.html

Explicame: Goodbye to the IRS Direct File, President Trump seeks to end it

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The “One Big Beautiful Bill” proposed by President Trump is making waves in the fiscal landscape, not just for its broad reforms but for its potential to dismantle the IRS Direct File program. This initiative, which has gained traction in the Senate and awaits a final vote in the House of Representatives, could see the end of a service that has simplified tax filing for countless Americans.

Launched as a pilot program, the IRS Direct File was designed to offer a free, online tax filing option directly with the IRS. Initially available in 12 states, it expanded to 13 more by 2025, with plans for further growth. Despite its popularity among taxpayers, the program has faced criticism from some Republicans who view it as redundant and wasteful.

Federal investment in the program reached approximately $75 million, with $41 million spent in the year ending April 2025. Despite this, a study by the Urban Institute in December 2024 found that three-quarters of surveyed taxpayers were interested in using Direct File. This highlights a strong public desire for expanded free filing options and a simplified tax process.

75% of the people want it, so the out of touch King Donald scraps it!

Goodbye to the IRS Direct File, President Trump seeks to end it
The IRS Direct File, a popular free tax filing service, faces potential elimination under President Trump’s sweeping fiscal proposal. As the bill advances in Congress, millions of taxpayers could lose a convenient option for filing their taxes directly with the IRS.

https://www.explica.me/en/news/Goodbye-to-the-IRS-Direct-File-President-Trump-seeks-to-end-it-20250701-0013.html

MiBolsillo Columbia: Tax reform changes regarding Social Security with the Trump bill

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The Trump administration’s initial promise to eliminate federal taxes on Social Security benefits has taken a new turn. The House of Representatives has approved a bill that offers a more restricted tax relief for Americans over 65. This proposal, now heading to the Senate, introduces a temporary deduction, marking a significant shift from the original campaign promise. Tom O’Saben, Director of Government Relations at the National Association of Tax Professionals, noted that this is “far from making Social Security tax-free.”

The legislation proposes a $4,000 deduction per qualifying individual, applicable from 2025 to 2028. 

A $4K deduction is diddlysquat. Which is not surprising since Trump is a bag of hot air who never delivers anyway. This is par for the course.

Tax reform changes regarding Social Security with the Trump bill
The Trump administration’s proposals regarding Social Security are taking a new direction in the legislative landscape. Initially proposed as a complete elimination of federal taxes on Social Security benefits, a campaign promise that generated widespread expectations, it has evolved into a House bill proposing a temporary and limited tax deduction.

https://www.msn.com/en-us/money/markets/tax-reform-changes-regarding-social-security-with-the-trump-bill/ar-AA1GjDAp

MiBolsilloColombia: Only 0.3% of SSA frauds were considered incorrect, what about DOGE?

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A recent initiative by the Social Security Administration (SSA) to detect fraud, partly driven by the now-defunct Department of Government Efficiency (DOGE) led by Elon Musk, has sparked significant controversy. 

The Social Security Administration’s (SSA) recent anti-fraud initiative, influenced by the Department of Government Efficiency (DOGE), has stirred a storm of debate. The DOGE, once under the leadership of Elon Musk, made audacious claims about rampant fraud within the SSA. However, the SSA’s new detection system revealed a starkly different reality, identifying only a minuscule amount of potential fraud while inadvertently delaying the processing of numerous claims.

The primary justification for the SSA’s anti-fraud policy stemmed from statements by DOGE members. Aram Moghaddassi, a DOGE engineer, claimed on Fox News that 40% of calls to the SSA for direct deposit changes were from scammers. This assertion was echoed by Elon Musk and Vice President JD Vance. Musk even suggested that his engineers had uncovered “$100 billion a week” in fraudulent payments, a figure that raised eyebrows across the board.

But:

Of over 110,000 claims reviewed, less than 1% were flagged for potential fraud, and only two were deemed to have a “high probability” of being fraudulent.

Only 0.3% of SSA frauds were considered incorrect, what about DOGE?
A recent initiative by the Social Security Administration (SSA) to detect fraud, partly driven by the now-defunct Department of Government Efficiency (DOGE) led by Elon Musk, has sparked significant controversy.

https://www.mibolsillo.co/news/Only-0.3-of-SSA-frauds-were-considered-incorrect-what-about-DOGE-20250526-0031.html

MiBolsillo Colombia: Trump denies zero tariffs on China, yet concedes

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The current tariff situation is complex, with the United States imposing a 145% tariff on Chinese imports, to which China has retaliated with a 125% tariff on U.S. exports. While items like smartphones and semiconductors enjoy a temporary exemption, a general 20% tariff remains in effect.

Referring to the 145% tariff, Trump described it as “very high” and stated that “it won’t be that high.” He added, “It won’t be anywhere near that high. It will decrease substantially.” However, the president was adamant in denying a return to the previous situation:

“But it won’t be zero – it used to be zero. We were just being destroyed. China was taking us for a ride.”

With this statement, Trump categorically denies the possibility of completely eliminating tariffs.

Executive summary: I’m Donald Trump. I’m big, dumb, and stupid. I don’t really know what the tariffs are. We’re taking China for a ride and crashing ourselves in the process. Life was good, but I’m fixing that.

Trump denies zero tariffs on China, yet concedes
In a surprising turn, President Donald Trump has announced plans to reduce current tariffs on Chinese imports amidst ongoing trade discussions.

https://www.msn.com/en-us/money/markets/trump-denies-zero-tariffs-on-china-yet-concedes/ar-AA1E4MUE