Comment by nabla9

Comment by nabla9 10 months 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 10 months 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 10 months 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 10 months 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 10 months ago
  
  I’m aware
  What is your preferred outcome?
  
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  fwip 10 months 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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