• CAPSLOCKFTW@lemmy.ml
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    1 year ago

    The IRS is chronically underfunded. They can’t keep the money, it goes to Aunt Sam.

    And btw the IRS has not enough staff to investigatevif rich people pay their fair share, therefore they go mostly for normal people.

    • Snipe_AT@lemmy.atay.dev
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      1 year ago

      Just wanted to point out that the audit rates for the rich are higher than normal people.

      [Jay McTigue:] Well, as I said, higher-income taxpayers are indeed being audited at a higher rate than lower-income taxpayers. In fact, the highest-income taxpayers, those making $5 million or more a year, right now are being audited at about 2.3%. Whereas on average the audit rate is less than 1% So there is still a focus on the higher-earning individuals.

      https://www.gao.gov/assets/730/720478.txt

      • Bonehead@kbin.social
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        1 year ago

        Just wanted to point out that the audit rates for the rich are higher than normal people.

        As it should be. The problem is that the rate should be 10 times higher than it currently is.

      • BeegYoshi@lemm.ee
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        1 year ago

        the misleading thing about that statistic is that there are far, far fewer wealthy people than there are normal. even with the rate of audits technically being lower, the number of audits of normal people is still far, far greater, and is where the IRS’s focus truly is

        • Snipe_AT@lemmy.atay.dev
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          1 year ago

          my understanding is that the focus of the IRS should be on those that try to subvert paying their taxes, it seems that they believe there is an increased amount of those people in the wealthy category.

          but it doesn’t make sense that they should ignore people trying to subvert taxes in the normal brackets does it? all that does is harm everyone else paying their fair share.

          • BeegYoshi@lemm.ee
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            1 year ago

            I never said to ignore it for low income taxpayers, but the statistic you provided is incredibly misleading. Plus the IRS would recoup far more money by auditing higher income taxpayers at much greater rates.