Long Hours at Work Are Costing You More Than Your Social Life
Putting in long hours at the office might impress your boss, but they’re certainly not helping your health.
A new study published in The Lancet found that individuals who worked 55 hours per week or more had a 1-3 times greater risk of a stroke compared to those who worked 40 hours a week. Long working hours were also associated with an increased chance of coronary heart disease, but this association was found to be weaker than that for a stroke.
The analysis was the largest study conducted thus far of the affiliation between working hours and cardiovascular health, including data on more than 600,000 individuals in Europe, the U.S., and Australia.
Researchers believe the constant triggering of the stress response from overwork induces the stroke, often resulting in sudden death. In addition, behavioral activities that stem from the longer hours also contribute to the heightened chance of a stroke.
Employees who work longer hours are found to rely more on heavy alcohol consumption as a way to reduce stress, but drinking only increases the risk for all types of strokes. In addition, more time at a desk means long periods of physical inactivity, which can increase the risk of stroke.
A study by Credit Loan shows that employees worldwide are working more than 40 hours per week. The U.S. leads the pack with the highest percentages of overtime workers – 85.8 percent of males and 66.5 percent of females.
Someone ought to tell Jeb Bush before he repeats what he said early in the campaign -- that Americans need to put in more hours at work.
Map of the Day: Navigating the IRS
The Taxpayer Advocate Service – an independent organization within the IRS whose roughly 1,800 employees both assist taxpayers in resolving problems with the tax collection agency and recommend changes aimed at improving the system – released a “subway map” that shows the “the stages of a taxpayer’s journey.” The colorful diagram includes the steps a typical taxpayer takes to prepare and file their tax forms, as well as the many “stations” a tax return can pass through, including processing, audits, appeals and litigation. Not surprisingly, the map is quite complicated. Click here to review a larger version on the taxpayer advocate’s site.
A Surprise Government Spending Slowdown
Economists expected federal spending to boost growth in 2019, but some of the fiscal stimulus provided by the 2018 budget deal has failed to show up this year, according to Kate Davidson of The Wall Street Journal.
Defense spending has come in as expected, but nondefense spending has lagged, and it’s unlikely to catch up to projections even if it accelerates in the coming months. Lower spending on disaster relief, the government shutdown earlier this year, and federal agencies spending less than they have been given by Congress all appear to be playing a role in the spending slowdown, Davidson said.
Number of the Day: $203,500
The Wall Street Journal’s Catherine Lucey reports that acting White House Chief of Staff Mick Mulvaney is making a bit more than his predecessors: “The latest annual report to Congress on White House personnel shows that President Trump’s third chief of staff is getting an annual salary of $203,500, compared with Reince Priebus and John Kelly, each of whom earned $179,700.” The difference is the result of Mulvaney still technically occupying the role of director of the White House Office of Management and Budget, where his salary level is set by law.
The White House told the Journal that if Mulvaney is made permanent chief of staff his salary would be adjusted to the current salary for an assistant to the president, $183,000.
The Census Affects Nearly $1 Trillion in Spending
The 2020 census faces possible delay as the Supreme Court sorts out the legality of a controversial citizenship question added by the Trump administration. Tracy Gordon of the Tax Policy Center notes that in addition to the basic issue of political representation, the decennial population count affects roughly $900 billion in federal spending, ranging from Medicaid assistance funds to Section 8 housing vouchers. Here’s a look at the top 10 programs affected by the census:
Chart of the Day: Offshore Profits Continue to Rise
Brad Setser, a former U.S. Treasury economist now with the Council on Foreign Relations, added another detail to his assessment of the foreign provisions of the Tax Cuts and Jobs Act: “A bit more evidence that Trump's tax reform didn't change incentives to offshore profits: the enormous profits that U.S. firms report in low tax jurisdictions continues to rise,” Setser wrote. “In fact, there was a bit of a jump up over the course of 2018.”
