The bottom line
Americans spend an unnecessary $265.6 billion every year on “administrative complexity” in the health-care industry, and $75.7 billion to $101.2 billion on overtreatment or low-value care, according to a new study. A quarter of all U.S. health-care costs—adding up to $760 billion to $935 billion—come from waste.
JAMA: The Journal of the American Medical Association
A private equity takeover of a company results in average job losses of 4.4 percent in the two years after a company is bought, and in a 1.7 percent decline in wages.
The median apartment price in Manhattan fell 12 percent in the third quarter, the worst slide since the last three months of 2009. That median price, $999,950, is the first to dip below $1 million in four years.
An oversupply of hens has pushed the price of eggs from the country’s largest producer, Cal-Maine Foods, down to 92 cents a dozen.
The Wall Street Journal
Yes, your ride to work is, in fact, getting longer. The average American commute grew to just over 27 minutes one way last year, a record high. The typical worker now spends 17 more hours a year commuting than in 2009.
The Washington Post
The overall tax rate for the 400 wealthiest households in the U.S.—including federal, state, and local taxes—last year was 23 percent, lower than for any other income group for the first time on record. In 1950, the wealthiest Americans paid 70 percent of their income in taxes.
The New York Times
The 2020 census is expected to cost $15.6 billion, or about $48 per person counted, and will require 475,000 temporary census workers.