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Economy

TigressDem

(5,126 posts)

3. Follow it up with $163 billion a year - JUST IN TAX EVASION/CHEATS

Reply to dutch777 (Original post)

Thu Nov 23, 2023, 11:32 AM

Nov 2023

THIS ISN'T RAISING the rates, simply collecting what it OWED but is withheld because the top 1% can hide money and cheat their way out of paying even what they DO owe.

https://www.nytimes.com/2021/09/08/business/irs-tax-avoidance.html

The top 1 percent are evading $163 billion a year in taxes, the Treasury finds.

A new report makes the case that narrowing the tax gap is part of the Biden administration’s ambition to create a more equitable economy.

....

The Treasury Department estimates that its tax gap proposals could raise $700 billion over a decade.

$700 billion bold enough for you?

BOOM

Drop the mike.

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Think. Again.peppertree

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Highlight:

Maybe an off day to bring this up, but I can't help wondering if we Dems just aren't thinking big or bold enough? [View all] dutch777 Nov 2023 OP

How does 34 Billion sound for starters? Is that bold or wimpy? TigressDem Nov 2023 #1

Yeah, but the Repugs want to keep talking about cutting SS and Medicare. That's a winner with senior voters. dutch777 Nov 2023 #13

Millionaires not even FILING their tax returns... Billionaires paying max of 8.2% TigressDem Nov 2023 #2

Current Deficit is $1.7 Trillion. That $34 B is like 8 days of the Deficit. Worth going after, but a drop in bucket. Silent Type Nov 2023 #6

See Post #3 - 700 Billion in 10 years TigressDem Nov 2023 #8

That $700 Billion over 10 years ain't much against $11.7 Trillion Deficit over 10 years. Again, worth getting, but Silent Type Nov 2023 #11

Letting top tier tax cheats get away with not paying is worse. TigressDem Nov 2023 #12

Follow it up with $163 billion a year - JUST IN TAX EVASION/CHEATS TigressDem Nov 2023 #3

Reverse trump's ultra-rich tax break? Think. Again. Nov 2023 #4

And Dubya's - plus all the Defense-related corruption peppertree Nov 2023 #5

Yup.... Think. Again. Nov 2023 #7

Yep. AND give IRS the power to collect from top 10% what they OWE. TigressDem Nov 2023 #9

I agree 100%.... Think. Again. Nov 2023 #10