Comment by nabla9

Comment by nabla9 3 days ago

Improving IRS tax collection enforcement could generate significant funds

In fiscal year 2021 the IRS managed more than $4.1 trillion in tax revenue. The annual tax gap was estimated at $688 billion in 2021, with $625 billion remaining uncollected even after enforcement efforts.

16.7 percent.

intuitionist 3 days ago

So collecting all those extra taxes would cover somewhere south of 25% of the budget deficit for 2021. You aren’t wrong, but the parent isn’t wrong either.

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yieldcrv 3 days ago

and you don’t realize that this proves my point?

~$5.3 trillion doesn't solve the US’ budget holes, while the US government tells you what transactions to make to not be taxed

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fwip 2 days ago

That's the amount of taxes that companies/people legally owe but don't pay (and are collectable).
It's not really related to the amount of taxes that are legally avoided by big businesses through techniques like this "double Irish Dutch sandwich."

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- yieldcrv 2 days ago
  
  I’m aware
  What is your preferred outcome?
  
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  fwip 2 days ago
  
  I'm not sure that my preferred outcome is relevant to what the other person meant, but I would like a simpler tax structure and higher-than-current effective rates for wealthy entities.
  
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