Richmond, CA ·
A ploy used by congressional Republicans to repeal laws they don’t like is not to appropriate enough money to enforce them. Even if they can’t directly cut taxes on the wealthy because of President Obama’s veto, they’re hollowing out the Internal Revenue Service. Despite an increasing number of wealthy individuals and big corporations using every tax dodge imaginable – laundering money through phantom corporations and tax havens, and shifting profits abroad to where they’d be taxed least – the IRS’s budget is now 7 percent smaller than it was in 2010, resulting in an 11% reduction in personnel, or 10,000 fewer people enforcing the nation's tax laws. This doesn’t save the government money. To the contrary, less IRS enforcement means less revenue. For every dollar that goes into IRS enforcement, an estimated $200 is recovered of unpaid taxes. The point of appropriating less money to the IRS is reducing the likelihood that wealthy individuals and big corporations will be audited.
I love how the banks, in response to calls for them to be broken up, go and do something that more than ever proves why they need to be...
Don't bother me, I'm working.
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