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Pubs demand less IRS Audits

Discussion in 'Too Hot for Swamp Gas' started by G8trGr8t, Jul 19, 2021.

  1. G8trGr8t

    G8trGr8t Premium Member

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    One of the items to help fund the infrastructure deal was more $$ for IRS enforcement to target major tax cheats that cost the country hundreds of billions. Pubs have backed out of their support for the increased funding. Just when I thought they couldn't be more obvious in their support for tax avoidance, they pull this. So much for the party of self responsibility, don't audit our top 1%. The increased IRS audits were anticipated to generate $1.2 Trillion over 10 years in lost revenue

    Republicans renege on deal with Democrats, strip funding for IRS in gift to rich tax cheats (msn.com)

    Under pressure from well-heeled conservative advocacy organizations and donors, Republican senators have removed funding for IRS enforcement from an emerging bipartisan infrastructure plan, threatening to tank a proposed crackdown on rich tax cheats.
    ......................................
    Sen. Rob Portman (R-Ohio), part of the 22-member bipartisan group that's rushing to hash out the details of the infrastructure bill ahead of a key procedural vote this week, confirmed Sunday that the IRS provision has been removed due to right-wing "pushback." Portman also complained that Democratic lawmakers are working to provide the IRS with more funding in their forthcoming reconciliation package, which can pass without Republican support.

    The scrapped provision would have increased the IRS budget—a frequent target of GOP cuts in recent years—by $40 billion over the next decade to help the agency combat tax dodging, which is depriving the federal government of trillions of dollars in revenue. An analysis released earlier this year by academics and IRS researchers estimated that 36% of unpaid federal income taxes are owed by the top 1%.

    Due to persistent funding shortages and inadequate staffing, the IRS now audits poor Americans at roughly the same rate as the wealthy, who often use complex strategies to avoid paying taxes. Big businesses are also taking advantage of the depleted IRS; the agency now audits just half of all large company tax returns, allowing corporations to claim unwarranted tax breaks.
     
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  2. scooterp

    scooterp GC Hall of Fame

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    It’s just more of the “I hate rich people” schtick. I know it’s vogue right now ...but still old.
     
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  3. G8trGr8t

    G8trGr8t Premium Member

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    No, I hate people who cheat on their taxes. I know more than one and they have no fear of an audit as they know the likelihood of an audit is extremely low and they can likely overwhelm the auditor
     
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  4. ncargat1

    ncargat1 VIP Member

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    So, you are defending people dodging their tax obligations? Aren't you righties always complaining about people "paying their fair share"???
     
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  5. rivergator

    rivergator Too Hot Mod Moderator VIP Member

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    If trying to catch tax cheats is 'hating the rich' what does it mean to want more police and law enforcement? Hating the poor? Hating men?
     
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  6. stingbb

    stingbb Premium Member

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    The fact is that the US has one of the most progressive tax systems in the world borne primarily by the highest wage earners. Those top 1% pay over 40% of the total income tax (and that percentage has risen steadily over the last 20 years) and in 2018 the top 50% of all taxpayers paid over 97% of all individual income taxes while the bottom 50% paid less than 3%. So who exactly isn’t paying their fair share?
     
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  7. ncargat1

    ncargat1 VIP Member

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    Everyone who is cheating.
     
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  8. GatorRade

    GatorRade Rad Scientist

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    I am not a rich hater, but I feel like we have to point out that one of the reasons that the top 1% pays so much more in taxes is that the top 1% earns so much more.
     
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  9. G8trGr8t

    G8trGr8t Premium Member

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    How much wealth top 1% of Americans have (cnbc.com)

    The wealthiest 1% of Americans controlled about $41.52 trillion in the first quarter, according to Federal Reserve data released Monday. Yet the bottom 50% of Americans only controlled about $2.62 trillion collectively, which is roughly 16 times less than those in the top 1%.

    Wealth across all U.S. households increased during the first quarter. Overall, the net worth of households and nonprofits rose to $136.9 trillion during the first quarter, a 3.8% increase from the end of 2020, according to separate data published by the Federal Reserve on June 10, 2021. But those gains weren’t distributed equally.
     
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  10. BLING

    BLING GC Hall of Fame

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    Party of law and order.
     
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  11. GatorNorth

    GatorNorth Premium Member Premium Member

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    nothing wrong with being rich

    plenty wrong with being a tax cheat
     
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  12. Emmitto

    Emmitto GC Hall of Fame

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    That trickle has only had 40 years, be patient.
     
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  13. l_boy

    l_boy 5500

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    Baffling. The republican party supports people's right to cheat on taxes, especially the wealthiest. One way to actually avoid increasing tax rates is to increase enforcement.

    How many times with guns have we heard "we don't need new gun laws, we just need to enforce the ones we have". Obviously the same concept does not apply to the collection of taxes.
     
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  14. 92gator

    92gator GC Hall of Fame

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    Maybe its not any desire to protect tax cheats, but the fear of the IRS being weaponized for political advantage, which of course would be aimed in one direction: to (at) the Right.

    .
     
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  15. l_boy

    l_boy 5500

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    Yes those who have money perpetuate this nonsense among the less affluent masses as a means to an end. I am sure they appreciate your cooperation.
     
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  16. vaxcardinal

    vaxcardinal GC Hall of Fame

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    so why not report the tax cheats?
     
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  17. 108

    108 Premium Member

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    This country will keep spiraling so long as money equals free speech, and you can legally bribe our elected officials through campaign finance rules.
     
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  18. 92gator

    92gator GC Hall of Fame

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    Sure. Thats why all your billionsires are Democrat--bc they're so busy playing jedi mind tricks on the GOP, convincing pub voters that the IRS wont go aftrr them (dem bills), if they vote pub. o_O:confused::rolleyes:
     
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  19. 92gator

    92gator GC Hall of Fame

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    We can deal with thst. Always have. Todays novel challenge, is a self loathing party (Am hating dems, thst is) thst are bought n paid for by the chicoms, and a willing accomplice politiburo in the press, with industry wide assists from academia n entertainment, cooperating in taking America down, and propping up China.

    With cancers like that eating us up on the inside, who needs guns or missiles to take us down?
     
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  20. gator7_5

    gator7_5 GC Hall of Fame

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    Simplify the tax code, eliminate the irs. No more cheating. Viola!
     
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