NEW: Democrats are poised to save an agency that's on life support, and that is key to unwinding the offshore world: the IRS.
newrepublic.com/article/164269…
newrepublic.com/article/164269…
Look at any data point, and the story is the same. Collapsing audits. Collapsing investigations. Collapsing resources. Hell, the IRS now has fewer auditors than any time since *World War II*.
The IRS is a shell of its former self. All while the offshoring world has exploded.
The IRS is a shell of its former self. All while the offshoring world has exploded.
But the IRS didn't wilt on its own.
It was slowly gutted by congressional Republicans over the past quarter-century—even while the U.S. blossomed into a gargantuan offshore haven of its own.
newrepublic.com/article/164269…
It was slowly gutted by congressional Republicans over the past quarter-century—even while the U.S. blossomed into a gargantuan offshore haven of its own.
newrepublic.com/article/164269…
We *know* what the strangling of the IRS has cost us. Billion of dollars (and potentially more) unaccounted for, spiraling wealth inequality, the growth of the "Wealth Defense Industry" for the wealthiest Americans.
A "two-tiered tax system" that gets worse every year.
A "two-tiered tax system" that gets worse every year.
The White House is now poised to inject unprecedented funding for the IRS, which would:
—Target wealthy tax cheats (especially those offshore)
—Expand the IRS’s technical capacity
—Invest in improved taxpayer services
—Net hundreds of billions of dollars (and potentially more)
—Target wealthy tax cheats (especially those offshore)
—Expand the IRS’s technical capacity
—Invest in improved taxpayer services
—Net hundreds of billions of dollars (and potentially more)
We're not there yet, but this month might mark the end of the IRS's march toward oblivion—and a turnaround for the only agency that can stop wealthy Americans from slipping their finances beyond democratic control and out into the offshoring ether.
https://twitter.com/cjcmichel/status/1456258889876271112
The slow-motion collapse of the IRS really is one of those major overlooked stories of the 2010s—and one that helps explain so much of modern American economy.
https://twitter.com/cjcmichel/status/1456258889876271112?s=20
'The Colorado governor is one of several ultrarich politicians who... paid little or no federal income taxes in multiple years, exploited loopholes to dodge estate taxes or used their public offices to fight reforms that would increase their tax bills.' propublica.org/article/how-th…
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