368
IRS has collected more than $520M in back taxes from delinquent millionaires so far
(www.nbcnews.com)
this post was submitted on 13 Jan 2024
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Spending 8 billion to find half a billion doesn't sound like something worth bragging about. Let me know when they 20x that number.
I was curious what that funding is used for and found this:
https://www.huffpost.com/entry/republicans-87000-irs-agents-biden_n_63110a90e4b07d96a24c63d0
They've recovered half a billion in the first year.
Yes and that's why I said 8 billion and not 80, I accounted for the fact that this was one year worth of work.
The ROI won't be a step function, like the flick of a switch.
But the additional money was effectively $8 billion per year ($80 billion over 10 years). I very much want to force the rich to pay taxes...but I want it to cost less than the taxes they collect to do it.
Hopefully it keeps ramping up in the coming years.
Do you think this is their only accomplishment, or just the one they want most obviously publicized?
Certainly not the only accomplishment, but I expect between the agency itself and the politicians who pushed for the budget allocations, they would want to advertise the biggest number they can come up with to justify the funding. What I think is that $520 million was the biggest number they could reasonably justify reporting.
Have you tried more than one news article before reaching your conclusions?
Hey, I'm gonna share a few little dad-isms that my dad shared with me many many moons ago that hopefully will help you put things into perspective when you're feeling impatient. I know it did for me.
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