As sure as the rising and the setting of the sun, billionaires will cut their own taxes.
Every one of us suffers by their existence.
this post was submitted on 14 Dec 2024
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We shouldn't suffer their existence
IRS investigators (circa Jan 20) now ~~randomly~~ arbitrarily audits low income people...
🙃
randomly
Nope. It will be targeted. This is what regulatory agencies will exist for (those that continue to exist). They will be used as a cudgel against perceived enemies.
arbitrarily is what I meant
Yeah, but that's why I mean... It won't be that either. It will be targeted.
Low income people have already been automatically audited for a long time.
I'm definitely missing the whole story, because getting $4.2B back from $80B in funding is terrible ROI. Where is all of this money going?
They received $80B but haven't spent it yet. Looks like they've spent $7B so far , and it looks like the Republicans rescinded $20B of it already.
Still not a great ROI but they could be spending the money on building infrastructure to recover more. I'm guessing they require some pretty good software to catch the cheats and that costs a lot to create but less to maintain. That plus general growing pains might mean they'll take a bit to ramp up, but we might start seeing more ROI gains in the following couple years.
Also they're using some of it to improve operations like creating the new free tax portal so you don't have to pay through turbotax, h&r etc. So that'd be nice, maybe not worth $1B, but nice
Hopefully the new tax portal is great. That alone would be worth 1B. Just sending everyone a disputable bill or check would be easier and cheaper of course but we can't have that.
They had to staff up which has a delay on impact. The money was supposed to last awhile and historically every dollar given to the IRS results in more money back. The more complex cases take longer to get results from as well. Those rich folks have very complex set ups to avoid paying taxes.
And as mentioned, they also built that tax portal which will likely expand and will save tax payers millions of dollars instead of going to turbotax etc.
Gotta steal somehow. If you can make the police go away, stealing gets easier, cosier. it's like the Republicans way of making a nest