This is 1000% true.
The IRS has been gutted in the last decade, and the beneficiaries are the ultra-wealthy like President Trump.
A thread:
The IRS has been gutted in the last decade, and the beneficiaries are the ultra-wealthy like President Trump.
A thread:
https://twitter.com/HarrySteinDC/status/1310623381046337537
Audit rates for millionaires are down 75% in the last decade
Today, you are as likely to be audited if you are in the top 1% as if you are on the EITC
The result is a tax system that facilitates the kind of illegal games Trump has been playing for decades
Today, you are as likely to be audited if you are in the top 1% as if you are on the EITC
The result is a tax system that facilitates the kind of illegal games Trump has been playing for decades
Just a few 100 taxpayers cost the IRS $10B between 2014-2016
And they lacked the resources to even pursue these cases!
treasury.gov/tigta/auditrep…
And they lacked the resources to even pursue these cases!
treasury.gov/tigta/auditrep…
In rare cases when the IRS goes after wealthy & corps they owe, they are stuck in disputes that last for years
Outmatched by those who can spend basically infinite resources to push back
As this great story by @paulkiel details
propublica.org/article/the-ir…
Outmatched by those who can spend basically infinite resources to push back
As this great story by @paulkiel details
propublica.org/article/the-ir…
Thus not surprising that the IRS concludes pursuing those on EITC is "most efficient use of available resources"
It simply lacks $$ needed to shift to going after more higher income ppl w/ more complex returns
Here's Commissioner Rettig last year:
documentcloud.org/documents/6430…
It simply lacks $$ needed to shift to going after more higher income ppl w/ more complex returns
Here's Commissioner Rettig last year:
documentcloud.org/documents/6430…
We are at a time when the world is appropriately focused on injustices in criminal law enforcement
Those same inequities exist in tax administration
Five counties w/ highest audit rates are all predominantly African American
projects.propublica.org/graphics/eitc-…
Those same inequities exist in tax administration
Five counties w/ highest audit rates are all predominantly African American
projects.propublica.org/graphics/eitc-…
Result of gutted IRS is a two-tiered tax system
Compare 99% compliance for ordinary Americans
To $750 tax bill for Donald Trump
🤞 come January, things will change
Given revenue needs, investmt in IRS shouldn't be where tax reform efforts end
But must be where they start
Compare 99% compliance for ordinary Americans
To $750 tax bill for Donald Trump
🤞 come January, things will change
Given revenue needs, investmt in IRS shouldn't be where tax reform efforts end
But must be where they start
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