Oops $32 billion mistake

[chanel]

The Social Security Administration asked its inspector general to investigate how a $32.3 billion mistake skewed its statistics on 2009 wages in the U.S.

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday. Those reports threw statistical wage tables out of whack and, in figures released Oct. 15, made it appear that top U.S. earners had seen their pay quintuple in 2009 to an average of $519 million.

The agency yesterday released corrected tables that showed the average incomes of the top earners, in fact, declined 7.7 percent to $84 million each.

Bloomberg News wrote a report last week about high-earners’ income after questioning Social Security officials about record- high wages found in the statistics. The agency’s staff confirmed the data, though they began reviewing W-2s by hand after the news story was published.

`Invalid' Forms by Supposed Billionaires Skew U.S. Wage Figures - Bloomberg

And the IRS will be monitoring health insurance premiums now?

 

[Sallow]

The Social Security Administration asked its inspector general to investigate how a $32.3 billion mistake skewed its statistics on 2009 wages in the U.S.

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday. Those reports threw statistical wage tables out of whack and, in figures released Oct. 15, made it appear that top U.S. earners had seen their pay quintuple in 2009 to an average of $519 million.

The agency yesterday released corrected tables that showed the average incomes of the top earners, in fact, declined 7.7 percent to $84 million each.

Bloomberg News wrote a report last week about high-earners’ income after questioning Social Security officials about record- high wages found in the statistics. The agency’s staff confirmed the data, though they began reviewing W-2s by hand after the news story was published.

`Invalid' Forms by Supposed Billionaires Skew U.S. Wage Figures - Bloomberg

And the IRS will be monitoring health insurance premiums now?

Maybe it's time for an upgrade...from bean counting to actual state of the art computers..

No?

 

[Trajan]

The Social Security Administration asked its inspector general to investigate how a $32.3 billion mistake skewed its statistics on 2009 wages in the U.S.

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday. Those reports threw statistical wage tables out of whack and, in figures released Oct. 15, made it appear that top U.S. earners had seen their pay quintuple in 2009 to an average of $519 million.

The agency yesterday released corrected tables that showed the average incomes of the top earners, in fact, declined 7.7 percent to $84 million each.

Bloomberg News wrote a report last week about high-earners’ income after questioning Social Security officials about record- high wages found in the statistics. The agency’s staff confirmed the data, though they began reviewing W-2s by hand after the news story was published.

`Invalid' Forms by Supposed Billionaires Skew U.S. Wage Figures - Bloomberg

And the IRS will be monitoring health insurance premiums now?

hire bloomberg to do it....for god sakes.

 

[Wry Catcher]

The Social Security Administration asked its inspector general to investigate how a $32.3 billion mistake skewed its statistics on 2009 wages in the U.S.

Two people were found to have filed multiple W-2 forms that made them into multibillionaires, an agency official said yesterday. Those reports threw statistical wage tables out of whack and, in figures released Oct. 15, made it appear that top U.S. earners had seen their pay quintuple in 2009 to an average of $519 million.

The agency yesterday released corrected tables that showed the average incomes of the top earners, in fact, declined 7.7 percent to $84 million each.

Bloomberg News wrote a report last week about high-earners’ income after questioning Social Security officials about record- high wages found in the statistics. The agency’s staff confirmed the data, though they began reviewing W-2s by hand after the news story was published.

`Invalid' Forms by Supposed Billionaires Skew U.S. Wage Figures - Bloomberg

And the IRS will be monitoring health insurance premiums now?

Yes, and the devil is in the details:

"A comparison of the Oct. 15 data and the corrected figures show the change affected wage statistics more broadly. The Oct. 15 index indicated that the average wage nationwide fell $384 to $39,269 in 2009. The corrected index shows averages wages fell $598 to $39,055."

Who would be motivated to want to change data showing wages fell LESS than actual? Before the echo chamber bloviates on this issue I'd like the investigation to follow the evidence and determine who provided false information. I'd hate to see the right be exposed as hysterics again, wouldn't you?

 

[chanel]

Wry - neither the SSA nor the IRS is taking responsibility. They are blaming it on the two filers who for some strange reason submitted erroneous W2's which made them multi-billionaires.

I don't think this was political, ideological, conspiratorial or whatever. Just an honest mistake. An honest $32 billion one.

I wonder how many decisions have been made using that data. And internet shitting contests.

 

[boedicca]

Wry - neither the SSA nor the IRS is taking responsibility. They are blaming it on the two filers who for some strange reason submitted erroneous W2's which made them multi-billionaires.

I don't think this was political, ideological, conspiratorial or whatever. Just an honest mistake. An honest $32 billion one.

I wonder how many decisions have been made using that data. And internet shitting contests.

Are there names by any chance Doodad Pro and Mickey Mouse?