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The IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed into law in 2022.
Treasury Secretary Janet Yellen and IRS Commissioner Danny Werfel traveled to Austin, Texas, to tour an IRS campus and announce the latest milestone in tax collections as Republicans warn of big future budget cuts for the tax agency if they take over the White House and Congress.
Yellen said in a speech in Austin that in 2019, the top one percent of wealthy Americans owed more than one-fifth of all unpaid taxes, “leaving ordinary Americans to shoulder the burden.”
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This is BULLSHIT! I’m a Fiscally Responsible Republican and they SHOULD BE coming after ME even though I’m about to be Homeless!
Where are all the people saying the parties are exactly the same?
Funny, every single other thread these days have maga trolls discouraging left wingers from voting.
But when it comes to these kind of threads where the difference is obvious, the conservative lobbyists seem to disappear
Again, they’re not the same
BuT GeNoCiDe!1!1
And Republicans react by wanting to cut more from the IRS to fund their campaigns through wealthy tax cheats.
Taxes are what you pay to live in a functioning society. To use the roads, the utility poles, the emergency services. If you don’t pay your taxes, you should be banned from using any public services.
So good luck having a place to drive your fancy cars, millionaires.
Who’s Yellen now? (This song was actually commissioned by APM’s Marketplace when Janet Yellen became Secretary of the Treasury, but feels appropriate now.)
At about $35.353 trillion right now, I believe this makes a 0.0036772% dent in the US national debt.
I’m pretty sure the debt increases by about $10 billion per day recently.
The debt increases by $1 trillion every 100 days.
What does that have to do with anything?
Oh right… You’ve gotta somehow turn this into an anti Biden thing somehow and do the whole “both parties are the same” thing.
It’s a start, and if you want things to improve, keep voting left.
Literally has nothing to do with Biden for me. I like numbers and it was something neat to compare against. Not everything is about presidential politics for everyone.
National debt is just selling out the country.
Prove me wrong.
annoying how even 1.3 with a b feels like a drop in the bucket of what’s being stolen from us.
It is a drop. The deficit is 1.7 trillion, the amount of money the irs has recovered is less than .1% of the money being spent as debt. That’s just the government leveraging the future. It’s also representing 3.5 or more billion in income that taxes weren’t paid on, which likely could have been better wages instead of more income for billionaires.
My guess it’s a 100x more than what the IRS has retrieved, but it’s a start at least.
It absolutely pales in comparison to the amount stolen from us day by day, but it’s more than we usually get, so I’ll be happy about that.
It’s a start; if that recovered money was funnelled directly back into the IRS, they could net as much as a 6x return:
A few years of IRS hyper-vigilance and investment would result in significant gains to the public purse, ensuring that the wealthiest pay their fair share.
This helps thanks lol
From the thumbnail, I assumed this was a British story for some reason.
Yes it’s funny how we assign a hairstyle to region
The Republican response is literally that they’re going to defund the IRS. If there weren’t 100 other things demonstrating that the Republican party serves the ultra rich, and not the people, it would be astonishing.
It’s not really a surprise that their position is that rich people should be allowed to break the law.
It’s kind of amazing how upfront they are about it
They know SCOTUS has their back.
New source of revenue achievement unlocked!
The wealthy are a bunch of con persons. Spend your time on them and you will make a fortune.
shockedJanetYellenFace.jpeg
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Fund👏the👏IRS👏
Oh noes they’re gonna do investigations and prosecutions? Fuck you, pay your taxes. There is zero moral justification for refusing to properly fund the IRS.
The IRS initiated the “welcome to video” investigation. Busted hundreds of people globally for CSAM.
As long as the audits focus on high value targets. It should not mean predominantly auditing the mass as there is more fuckery with more money at the top.
I’m okay with mid value targets too. A lot of small business owners are tax cheating bastards as well as fortune 500 companies.
Business should get 100pct audits imho.
mandatory audits over a minimum net worth or valuation?
It’s almost as if the ultra rich are greedy leaches on society ¯\_༼ᴼل͜ᴼ༽_/¯
A good start!
