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this post was submitted on 12 Jul 2024
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So in other words it cost $8b to recover $1b? And this is seen as a good thing?!?! That make as much sense as toilet paper math
Economists at Harvard studied a four year period and concluded the IRS gains $4.25 for every $1 spent on auditing wealthiest tax payers.
I wonder if the IRS can immediately recover funds with a magic wand or if it's a protracted, investigative process.
https://www.businessinsider.com/irs-tax-audits-recover-12-dollars-for-every-dollar-spent-2023-6
Obviously the minute $80b was allocated, the IRS should have immediately brought in $340b, that's how math works, right?? /s
Seriously though, outside of the direct revenue claimed by this, having a well funded IRS sets a precedent to be honest on taxes. If people know the IRS is understaffed, and hear about billionaires (and former presidents) paying nothing in taxes, why should the average American feel they should be honest and pay their fair share? Only time will tell, but we can look back and see if reported tax payments increased significantly because of IRS funding, outside of money brought in from audits.
You are deliberately oversimplifying this to make a conservative talking point. Stop it. We all know what you’re doing. Take this crap back to /r/conservative. They thrive on overly reduced, flippant one liners that validate their worldview.