415
Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers (apnews.com)
submitted 2 months ago by Viking_Hippie@lemmy.world to c/upliftingnews@lemmy.world
11 comments fedilink hide all child comments

cross-posted from: https://lemmy.ca/post/28466921

The IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed into law in 2022.

Treasury Secretary Janet Yellen and IRS Commissioner Danny Werfel traveled to Austin, Texas, to tour an IRS campus and announce the latest milestone in tax collections as Republicans warn of big future budget cuts for the tax agency if they take over the White House and Congress.

Yellen said in a speech in Austin that in 2019, the top one percent of wealthy Americans owed more than one-fifth of all unpaid taxes, “leaving ordinary Americans to shoulder the burden.”

top 11 comments
sorted by: hot top controversial new old
[-] astrsk@fedia.io 61 points 2 months ago

Sweet. Keep going.

[-] d00phy@lemmy.world 36 points 2 months ago

Good start. Emphasis on "START."

[-] Valmond@lemmy.world 13 points 2 months ago

That sound like a drop in a bucket

[-] Viking_Hippie@lemmy.world 24 points 2 months ago

It is, but it's better than the former complete dryness of the bucket and hopefully they'll be able to turn the spigot soon now that they've proven that the IRS still offers a good return on investment 🤞

[-] gmalette@lemmy.ca 11 points 2 months ago

Why sugarcoat it? Refusing to pay what you owe is theft

[-] Treczoks@lemmy.world 9 points 2 months ago

That's a good start, but just a start. There is probably at least ten times as much...

The question is: Will they put the tax dodgers behind bars where they belong?

[-] Viking_Hippie@lemmy.world 5 points 2 months ago

That's a good start, but just a start. There is probably at least ten times as much...

You're absolutely right.

The question is: Will they put the tax dodgers behind bars where they belong

Probably not 😮‍💨

[-] jjagaimo@lemmy.ca 7 points 2 months ago

So from like 1 billionaire

[-] Viking_Hippie@lemmy.world 19 points 2 months ago

Nah, they probably haven't even gotten to the billionaires yet.

My guess is that they're trying to hit the rich tax frauds with the fewest lawyers and accountants first as proof of concept before going for the ones who are much more expensive to crack but with more than proportionally larger tax debt.

this post was submitted on 07 Sep 2024
415 points (99.1% liked)

Uplifting News

11294 readers
9 users here now

Welcome to /c/UpliftingNews, a dedicated space where optimism and positivity converge to bring you the most heartening and inspiring stories from around the world. We strive to curate and share content that lights up your day, invigorates your spirit, and inspires you to spread positivity in your own way. This is a sanctuary for those seeking a break from the incessant negativity often found in today's news cycle. From acts of everyday kindness to large-scale philanthropic efforts, from individual achievements to community triumphs, we bring you news that gives hope, fosters empathy, and strengthens the belief in humanity's capacity for good.

Here in /c/UpliftingNews, we uphold the values of respect, empathy, and inclusivity, fostering a supportive and vibrant community. We encourage you to share your positive news, comment, engage in uplifting conversations, and find solace in the goodness that exists around us. We are more than a news-sharing platform; we are a community built on the power of positivity and the collective desire for a more hopeful world. Remember, your small acts of kindness can be someone else's big ray of hope. Be part of the positivity revolution; share, uplift, inspire!

founded 1 year ago
MODERATORS
WandererLagomorph770@lemmy.world
wolfeh@lemmy.world