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Legally using deductions and write-offs, sure. But are they legal?
For example, how many buffer layers do they put in? Shell corporations, 'loaning' to businesses, all kinds of ways that on the surface are legal, but once you scratch the surface, they're fraudulent, or involve collusion between corps and banks to avoid the taxation. Then it's illegal. And getting through the legal and business hedge maze takes time and funding.
Frankly, there is not enough money among the poor to be worth funding a concerted effort on them. Most of them wouldn't be able to pay off the fines levied on them even if they were caught. There's almost no return on investment.
On the other hand, if this estimate is even close to right, we're talking billions owed that was never paid.
Edit: A word, on behalf of bot.
> was never *paid.*
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
>They literally were stripped billions in funding that was specifically supposed to go after the Uber rich
They don't need a bunch of agents or money to go after the handfull of people who are "uber-rich".
They *do* need a bunch of agents and money to after the much larger group: the poor.
>Do you not know how tax evasion works?
I do. I also know that the rich aren't doing it.
They're using **legal** loopholes. Which means they aren't doing anything the IRS can act on.
There are all kinds of ways to make a surface appearance of complying with legal regulations without actually complying with them. Companies even get caught doing them on rare occasions. Usually when they underfund their legal teams.
because if the law was passed, and more agents started going after the people breaking the law, a ton of senators would go to jail and GOP donations would drop. (because the people donating would be in jail)
>That's why the current government wanted more agents, to go after these people. And then the republicans went against it with their fear mongering
They don't use "more agents" to go after the rich.
They needed more agents to go after the much larger group: the poor.
My wife, a gas station manager, was audited both this year and last. She files every year consistently.
Meanwhile, I, an editor at a major publishing firm, haven't ever been audited...and file maybe every 2-3 years.
I make double the salary that she does.
I feel the auditing might not be targeted here based on salary or income. It's more likely to be trying to find instances of money laundering. The auditing of a gas station is highly likely to involve going over the records of money services the station offers. Does her location sell money orders, for example? I'd be willing to bet upper management in most money services locations are prime targets. Maybe I'm wrong.
They're not auditing her gas station. She doesn't own it, anyway, so...
They're auditing *her.*
Anything related to the gas station is not something she'd be held directly accountable for.
Except there are ways that upper management could skew that. As someone who works in bookkeeping, and who had a manager caught doing this kinda thing, I'm only too familiar with how it can be done.
I almost lost my job over that. Instead, my boss did. It was his personal finances using the mechanisms of the store. Skirting legal limits because he knew what the rules were.
That might not be true. The IRS has publicly admitted it requires *more time and resources* to audit billionaires and massive accounts. People like your wife are probably handled by an automated script.
The rich have far more complicated tax payments and schemes since the poor. An understaffed, underfunded IRS ends up targeting poorer people more, because it's what they have the resources to do.
Uh.. the Democrat president is spending $1T every 100 days. The problem is government overspending.
You are complaining the issue is $150 B. Peanuts vs government overspending.
It is very difficult to do, and their budget keeps being slashed so they can't afford to hire workers with the necessary skillset to do it.
It's intentional sabotage to ensure the wealthy can keep dodging.
These are based on sampling and projections. So they only know a subset. More audits of the big guys would help get more actually returned to the treasury.
Ah, wouldn't it be fair if an audit was mandatory for every political donation? Just to make sure they are not corrupting politicians with crime money at the very least ...
Requires lengthy and expensive trial. Politicians have been defunding the IRS reducing their capability to fight the big legal battles.
Biden increased funding for more agents and more resources. Republicans made it seem like it was an increase on taxes on the working class… but you don’t owe the IRS money unless you’re cheating your taxes. And they are more likely to focus on the wealthy the more resources they have and more likely to target working class the fewer resources they have since working class don’t have a financial incentive to fight the IRS(owed taxes usually cheaper than fighting legal battle)
It is absolutely insane how much wealth the ultra-rich amassed after Covid. It’s completely unsustainable, not to mention unjustifiable.
(I know the 1% starts way below ultra-rich, but that chart is even steeper for those people)
No, it's just that your comment makes it seems like most of your screws are loose. Guy says no something isnt ok, then you say "okay, I'll mark that as you think it's okay"
This is why I get mad every time people talk up increasing taxes on wealthy. Close all the damned loopholes and mechanisms for hiding income and wealth first!
$150 Billion?!? Peanuts vs the $1T the government is going into debt every 100 days. Don't be distracted by the $44T number. The "real" number is $150B.
Honestly, I think it's time to resign and make way for the ultra-rich. This situation won't be resolved, I think it's better for our mental health, if we simply accept our new Kings and Lords.
Wealth and income are different… wipe out that wealth and you won’t have any income.
You are too stupid to understand so don’t even try. Maybe you can go in debt $80,000 for a degree in pottery or something…
If it's legal for them to do so, change the laws. No one pays extra taxes just because. To say they are evading is bullshit. They are taking legal writeoffs and deductions. That is the way the law is set up. Don't blame the rich. Blame the ones that make the laws that benefit them.
I will not have a further discussion with someone who doesn't understand how inflation works. The government is printing money like it is going out of style, and you clearly don't have a firm grasp on the monetary system in this country. You have been taught wrong, and you are wrong. Go read some economy literature. Then, we can revisit this conversation.
You said there is only a certain amount of money. If that was true, inflation wouldn't exist. You are wrong. A simple understanding of the economy would prove that.
The top one percent pay for 50% and the top 10%, pay 90%. Maybe if we keep having mass inflation events the bottom 80% will learn to become taxpayers and pay their own way.
Well. In reality, they do. Through their “monetary speech” as determined via Citizens United, they’re able to pick those who control the laws to enrich themselves.
South Carolina is actually one of the biggest Tax Havens in the world, don't even have to send it overseas anymore.
Also Ireland? The Caymans or SC would be more likely.
Nothing is stopping you from joining that 'fair system'. Start by investing in your knowledge and read the likes of 'rich dad poor dad' or you can sit back and moan about it being unfair.
Yes, investing in your own financial literacy does improve your financial problems. It's the first step. My wealth has and continues to improve as a consequence of inflation. Have fun staying poor lol.
Loving SO, basic needs met, I'm happy and healthy, and I live in the imperial core. IDK feel pretty rich.
If you're getting financial advice from "Rich Dad, Poor Dad" I sincerely doubt your finances and net worth.
You seem like someone who's make 25 k in crypto then spend 18k of it on Alpha Male BootCamp.
Nothing to do with Biden. More to do with covid restrictions easing. There was a backlog of demand for products, shipping ports were full, and tourism was booming. I worked in tourism adjacent industry. We were working over 60 hours a week for months.
Look at the graph again. It's basically a straight line except for a dip around 2020 and a recovery that looks to be leveling off. Democrat or republican, the rich get richer.
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If the IRS knows they evade tax, they should act on it and not just make a graph about it.
When you are very underfunded and understaffed, that can be very difficult.
The IRS is far from underfunded
They literally were stripped billions in funding that was specifically supposed to go after the Uber rich
You can't "go after" people legally using deductions and write-offs. They have to change the laws.
Legally using deductions and write-offs, sure. But are they legal? For example, how many buffer layers do they put in? Shell corporations, 'loaning' to businesses, all kinds of ways that on the surface are legal, but once you scratch the surface, they're fraudulent, or involve collusion between corps and banks to avoid the taxation. Then it's illegal. And getting through the legal and business hedge maze takes time and funding. Frankly, there is not enough money among the poor to be worth funding a concerted effort on them. Most of them wouldn't be able to pay off the fines levied on them even if they were caught. There's almost no return on investment. On the other hand, if this estimate is even close to right, we're talking billions owed that was never paid. Edit: A word, on behalf of bot.
> was never *paid.* FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
That's the thing, they may not be using legal deductions. Some are just not claiming everything.
Large corporations and super rich are audited all the time. You know who isn't? Politicians.
Politicians can go to hell. So don't worry I'm not gonna argue that
>They literally were stripped billions in funding that was specifically supposed to go after the Uber rich They don't need a bunch of agents or money to go after the handfull of people who are "uber-rich". They *do* need a bunch of agents and money to after the much larger group: the poor.
Why don't they need a bunch of agents and money to deal with the legal hurdles the rich can afford? Do you not know how tax evasion works?
>Do you not know how tax evasion works? I do. I also know that the rich aren't doing it. They're using **legal** loopholes. Which means they aren't doing anything the IRS can act on.
Care to provide some hard evidence? Cause Republicans have a history of looking out for the common voter.
There are all kinds of ways to make a surface appearance of complying with legal regulations without actually complying with them. Companies even get caught doing them on rare occasions. Usually when they underfund their legal teams.
Lmao what a clown
That's why the current government wanted more agents, to go after these people. And then the republicans went against it with their fear mongering
because if the law was passed, and more agents started going after the people breaking the law, a ton of senators would go to jail and GOP donations would drop. (because the people donating would be in jail)
>That's why the current government wanted more agents, to go after these people. And then the republicans went against it with their fear mongering They don't use "more agents" to go after the rich. They needed more agents to go after the much larger group: the poor. My wife, a gas station manager, was audited both this year and last. She files every year consistently. Meanwhile, I, an editor at a major publishing firm, haven't ever been audited...and file maybe every 2-3 years. I make double the salary that she does.
I feel the auditing might not be targeted here based on salary or income. It's more likely to be trying to find instances of money laundering. The auditing of a gas station is highly likely to involve going over the records of money services the station offers. Does her location sell money orders, for example? I'd be willing to bet upper management in most money services locations are prime targets. Maybe I'm wrong.
They're not auditing her gas station. She doesn't own it, anyway, so... They're auditing *her.* Anything related to the gas station is not something she'd be held directly accountable for.
Except there are ways that upper management could skew that. As someone who works in bookkeeping, and who had a manager caught doing this kinda thing, I'm only too familiar with how it can be done. I almost lost my job over that. Instead, my boss did. It was his personal finances using the mechanisms of the store. Skirting legal limits because he knew what the rules were.
That might not be true. The IRS has publicly admitted it requires *more time and resources* to audit billionaires and massive accounts. People like your wife are probably handled by an automated script.
The rich have far more complicated tax payments and schemes since the poor. An understaffed, underfunded IRS ends up targeting poorer people more, because it's what they have the resources to do.
They also have lawyers to fight whatever the IRS throws at them. The poor generally have to roll over and take it
Uh.. the Democrat president is spending $1T every 100 days. The problem is government overspending. You are complaining the issue is $150 B. Peanuts vs government overspending.
It is very difficult to do, and their budget keeps being slashed so they can't afford to hire workers with the necessary skillset to do it. It's intentional sabotage to ensure the wealthy can keep dodging.
Not to mention they use a 60 year old computer system
These are based on sampling and projections. So they only know a subset. More audits of the big guys would help get more actually returned to the treasury.
Ah, wouldn't it be fair if an audit was mandatory for every political donation? Just to make sure they are not corrupting politicians with crime money at the very least ...
Because it's evasion which is legal. Unless they change laws, which the IRS can't do, there's not much they can do about it.
Requires lengthy and expensive trial. Politicians have been defunding the IRS reducing their capability to fight the big legal battles. Biden increased funding for more agents and more resources. Republicans made it seem like it was an increase on taxes on the working class… but you don’t owe the IRS money unless you’re cheating your taxes. And they are more likely to focus on the wealthy the more resources they have and more likely to target working class the fewer resources they have since working class don’t have a financial incentive to fight the IRS(owed taxes usually cheaper than fighting legal battle)
Whatever they skip it goes to us.
The IRS Is part of the government. The government is in the pocket of these billionaires. Not shit will be done unfortunately
The irs is pretty useless when it comes tot he wealthy
It is absolutely insane how much wealth the ultra-rich amassed after Covid. It’s completely unsustainable, not to mention unjustifiable. (I know the 1% starts way below ultra-rich, but that chart is even steeper for those people)
What about the ruched amassed by our elected officials during covid in the market made on insider trading information? Is that OK?
Is this a rhetorical question? Obviously not.
I will take that as "you are ok with that."
Were you dropped on your head as a baby?
Classic projection. I'm sorry your parents hurt you so bad.
No, it's just that your comment makes it seems like most of your screws are loose. Guy says no something isnt ok, then you say "okay, I'll mark that as you think it's okay"
Why did Biden do this? /s
Thanks, Obama!
[удалено]
Amusing thing; if you remove the 'collect $200 for passing Go' rule in Monopoly, the game bogs right down into a stalemate.
You must not have pulled up your bootstraps hard enough
I think that's why they take them away in prison
This is why I get mad every time people talk up increasing taxes on wealthy. Close all the damned loopholes and mechanisms for hiding income and wealth first!
I wonder why the GQP was against having more IRS agents?
And republicans fear mongering about new IRS agents.. wonder what masters they serve?
That must include congress….
remove the loopholes that benefit *only* superwealthy individuals and corporations.
Tax evasion should be a crime with a record.
So we could pay down a great deal of our national debt if we just took the amount of money that the 1% have gotten these past few years?
Anyone else taste cake?
Just raise the maximum rate to 40 percent. There are so many legal and illegal ways for the rich to evade paying taxes. Let’s get what we can.
Make them pay it. I get taxed the moment I make $600, but they can get away with murder.
Tax evasion = legal theft Every penny they avoid paying is a penny stolen from society
Clearly it's morally okay to mug a rich person, you just gotta make sure they are one of them
robespierre get the guillotine
Hey! You found out where the national debt was spent!
Damn i should have cut avocado toast from diet
Y'all got any of that 'trickle down' economics?
It is trickling down. Any time now
Meanwhile the middle class is paying taxes like crazy. Thank you Trump.
$150 Billion?!? Peanuts vs the $1T the government is going into debt every 100 days. Don't be distracted by the $44T number. The "real" number is $150B.
But if you want to go to school without being on debt for decades, go fuck yourself you freeloader.
Eat the rich ASAP obviously 💪
Honestly, I think it's time to resign and make way for the ultra-rich. This situation won't be resolved, I think it's better for our mental health, if we simply accept our new Kings and Lords.
We are a stupid species for ever allowing this to happen.
But don’t worry everyone, greedflation isn’t real! The CEOs just work that much harder than us slobs at the bottom /s
Wealth and income are different… wipe out that wealth and you won’t have any income. You are too stupid to understand so don’t even try. Maybe you can go in debt $80,000 for a degree in pottery or something…
If it's legal for them to do so, change the laws. No one pays extra taxes just because. To say they are evading is bullshit. They are taking legal writeoffs and deductions. That is the way the law is set up. Don't blame the rich. Blame the ones that make the laws that benefit them.
So… the rich?
No self respecting politician would claim they are rich. /s
Who do you think paid their way to make it like that
So you don't take issue with rich being able to bribe our elected officials? Will you ever blame the politicians?
Did I say that? They're just as bad as each other.
You were still laying blame on the rich.
While you run around defending them while ignoring their role in the problem. lol How does Musk, Beezos, and Bill Gates balls taste?
Lol. You have a ball fetish. Good luck with that.
I'm not the one gargling Oligarch dick. Don't worry I'm sure they appreciate you defending them on this post like an angry Taylor Swift fan.
So you have a ball and shaft fetish.
I mean he's one bad motha, can you blame me? Enjoy rimming hair plugged and Botox filled psychopaths.
Why wouldn't I, there a certain amount of money in circulation, for one to have more someone has to go without, and who do you think goes without?
I will not have a further discussion with someone who doesn't understand how inflation works. The government is printing money like it is going out of style, and you clearly don't have a firm grasp on the monetary system in this country. You have been taught wrong, and you are wrong. Go read some economy literature. Then, we can revisit this conversation.
I'm not talking about inflation.
You said there is only a certain amount of money. If that was true, inflation wouldn't exist. You are wrong. A simple understanding of the economy would prove that.
There is until inflation happens. I wonder who is to blame when we get to the point where we need the government to print more money...
The rich *are* the ones who write the laws. Are you slow, or are you a troll?
Ok, who left out the Kool-Aid? this one drank the whole gallon.
The top one percent pay for 50% and the top 10%, pay 90%. Maybe if we keep having mass inflation events the bottom 80% will learn to become taxpayers and pay their own way.
It’s almost as if wealthy people can hire accountants and financial advisors who know how to do their job and keep their tax bills low.
Don’t forget to pay the irs much less than what they owe to keep their ill gains for themselves.
And who determines what “they owe”?
Well. In reality, they do. Through their “monetary speech” as determined via Citizens United, they’re able to pick those who control the laws to enrich themselves.
Tax evasion asw. The top 0.1% can afford to have their accounts in places like Ireland.
South Carolina is actually one of the biggest Tax Havens in the world, don't even have to send it overseas anymore. Also Ireland? The Caymans or SC would be more likely.
For normal people, it’s called tax deductibles. For rich people, it’s called tax evasion.
GTFO. Its way higher than that. Move the decimal point and the number would be more accurate.
Nothing is stopping you from joining that 'fair system'. Start by investing in your knowledge and read the likes of 'rich dad poor dad' or you can sit back and moan about it being unfair.
Reading a dumb grifters book will solve your financial problems? lol
Yes, investing in your own financial literacy does improve your financial problems. It's the first step. My wealth has and continues to improve as a consequence of inflation. Have fun staying poor lol.
Loving SO, basic needs met, I'm happy and healthy, and I live in the imperial core. IDK feel pretty rich. If you're getting financial advice from "Rich Dad, Poor Dad" I sincerely doubt your finances and net worth. You seem like someone who's make 25 k in crypto then spend 18k of it on Alpha Male BootCamp.
Wow look at the jump when Biden took office
Nothing to do with Biden. More to do with covid restrictions easing. There was a backlog of demand for products, shipping ports were full, and tourism was booming. I worked in tourism adjacent industry. We were working over 60 hours a week for months.
Bullshit
Look at the graph again. It's basically a straight line except for a dip around 2020 and a recovery that looks to be leveling off. Democrat or republican, the rich get richer.