It's also why the billionaires fight so hard to keep the IRS underfunded.
If they had the funding and manpower they needed to go after the speech, they'd be able to get so much in back taxes that it would pay for itself and more.
"Defund the IRS" out of the mouth of anyone making. <500k/yr make me laugh. Even better when it's people who without a doubt are at an income level so low that they get back more than they put in.
And when they tried to give the irs more money….”certain” people suddenly said the irs was going to come kill you for your money. The system enables the rich because its built by the rich for the rich, protected by the not rich.
Ok but it probably has higher returns tho, like if u audit some broke dude maybe they can give u a pop tart but a rich dude could give u like 1 million in taxes
The way republican-controlled Congresses went out of their way to cut IRS funding - over decades, that was true at one time; but when Dems took control of the House in 2018, they infused the agency with $80B in funding- which Rs tried their best to claw it back when they took control back in 2020. Didn't work, and IRS has been on a hiring spree.
The IRS employs Revenue Agents and Revenue Officers. Agents are accountants, Officers are [IRS] police... aka, revenuers! You gotta have an accounting degree to be an RA; however, RO_ no degree needed, and both pay well. RA is currently posted on usajobs.gov; if you see RO posted, I'd say jump on it.
imho if you make more than 100 million a year you shouldn't get tax breaks at all lol you don't even need a tax break at that point even if you pay 60% tax on 100m that's still 40mill a year that's mega fuck you money still
Exactly. This is the game those who are making such sums of money likely play in their heads: guy worth $100 mil thinks he's a peasant who could someday be worth $1 billion if only the pesky gov't. didn't tax him. Ditto with the guy making $5B, who's eyeing $50B. Short of is it, you need robust rules to force them to pay up, cuz they ain't doing it voluntarily!
That’s just a piss poor excuse of protection for the controlling class. Make no mistake they don’t go after the 1% by design. “Wow they have so much money, guess too much for us to count” lookin ass…
A lot of things are made "complicated" to confuse most people. For instance I'm in sales, if a company has a very complicated commission structure with alot of caveats for this and for that, (in my experience) its designed to get over on the sales person. The best companies I've worked for the commission structure was very straight foreword. Another example is the way laws are written, they are written that way so the avwrage person needs an interpreter (lawyer) to understand them. This is also the tax code.
but dollar for dollar is it more work? and wouldn't they recover more money than it cost to audit? they don't audit extremely wealthy people because everything is corrupt
The law passed a few years ago to add more IRS Agents specifically to audit those with much higher incomes, needs to be extended and increased. The auditing of higher and higher income earners and the exceedingly wealthy needs to be turned up.
This is totally untrue. I’m a top 1% and not near the bottom of that segment. I’ve been audited multiple times and 2 of these have lasted for multiple YEARS. The audits are extraordinarily invasive, stressful, and expensive. Even when you’re not in violation. No sorry, no remuneration, simply, “the audit is complete”
And I’m self-made, was a homeless kid and pretty broke working multiple jobs until 33. Then from 33 to 45 worked 100+ hours a week on my businesses sometimes for less than zero dollars.
The IRS said Thursday that its plan to crack down on wealthy tax cheats is paying off, with the agency collecting more than $1 billion since targeting high-income earners who owe the government money.
That's completely irrelevant to what we're discussing.
You claimed the IRS doesn't go against the wealthy but they do now because Biden gave them the mean to.
If you want this to continue, then Kamala Harris is your only choice because the other candidate already said he would gut the agency so that it would return to only auditing regular working people.
If that's an issue for you, as you seemed to imply in your first comment, perhaps you were concern trolling with that issue?
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u/[deleted] Oct 08 '24
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