• 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.
  • CosmicTurtle0@lemmy.dbzer0.com
    link
    fedilink
    English
    arrow-up
    30
    arrow-down
    1
    ·
    4 months ago

    I imagine the IRS is going after millionaires for the same reason it goes after poor and lower middle class people: they lack the resources to mount a defense.

    Billionaires have enough money that they could stall indefinitely. Or at least until they can fund a president that will just pardon them.

    The only cure for billionaires is the guillotine.

    • girlfreddy@lemmy.ca
      link
      fedilink
      arrow-up
      7
      ·
      4 months ago

      The only cure for billionaires (that helps everyone else) is to raise their flat tax rate to 70% … like it used to be.

      • d00phy@lemmy.world
        link
        fedilink
        English
        arrow-up
        7
        ·
        edit-2
        4 months ago

        In 1944, the highest tax rate was 94%! By 1953, it had dropped. To 92%. We need to go back to that. The richest will find ways around it, but that’s not a reason not to do it.