‘Audit the Ultra-Rich' It is an act of justice...
CJKent_band
The truth hurts, but if you accept it, it will set you free
...trillion dollar gap between what the federal government is collecting and what is owed under the current tax code "really shocking and distressing."...
~ Treasury Secretary Janet Yellen
Tax Evasion by the Ultra-Rich criminals Costs US Trillions every year..
https://www.google.com/amp/s/www.commond…
We can start closing this gap next week. Pass my Stop CHEATERS Act and audit the ultra-rich." ~ Rep. Ro Khanna
“The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed...”
~ Honore de Balzac
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What Yellen and Khanna are doing is posturing. They use their status to throw out some BS. You fall for it. And then you demand that people like Khanna go out and raise taxes based on your erroneous belief that this was just about collecting taxes already owed. Whatever loop holes are in the tax code were put their on purpose by members of Congress.
If it were actual tax evasion the IRS would seize the assets under their already very extensive powers. Doubt me? File some bullshit IRS form alleging you deserve a bunch of money back and see what happens for yourself.
It’s always the same thing. Tax rates increase. People change their behavior. No additional tax revenue is collected.
The solution is not high tax rates, which simply drives the economy underground. The solution is to keep rates at a reasonable level, about 20%, and apply it to all types of income. At that rate, most people won’t feel the need for legal, and illegal, schemes for avoiding taxes. They’ll simply pay it.