The U.S. Department of the Treasury and IRS announced a "major milestone" of collecting more than $1 billion in past-due taxes from millionaires.
  • The Treasury Department and the IRS announced the collection of more than $1 billion in tax debt from high-income individuals over the past year.
  • In September, the IRS announced plans to expand its scrutiny of those making more than $1 million annually with more than $250,000 in recognized tax debt.
  • However, the funding enacted in 2022 that is allowing the IRS to pursue its plans still has its critics, particularly among congressional Republicans.
  • @UnderpantsWeevilEnglish
    4•2 months ago

    They talk about inefficiencies and say, “the private sector can do it better,”

    The private sector generates profits, which can then be translated into passive incomes for lenders and dividend recipients. The public sector isn’t explicitly designed to provide steadily increasing passive incomes to American plutocrats. That’s the big difference.

    However, in our current tax system enforcement is underfunded

    Laws are for little people. The purpose of the IRS should be to make low-income tax credits and other poverty relief measures a political promise the smallest possible material benefit. It shouldn’t be to claw back profits from the plutocrat class. Government should exist to guarantee the collection of rents from the working class and defend the property of the landlord class by extracting additional rents from the working class.

    • @rekorse
      3•2 months ago

      I’m confused, you think the IRS should be protecting the wealthy from the working class?