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SEC funding has nearly doubled since 2009, so... no? It makes no sense to imply that the SEC has been "defunded" or weakened by "capitalists" when it now has m
by mardifoufs 6y ago
SEC funding has nearly doubled since 2009, so... no? It makes no sense to imply that the SEC has been "defunded" or weakened by "capitalists" when it now has more power than ever before and a wider regulatory oversight than almost every other federal agency. In fact, I can't think of a better or a more feared market oversight body anywhere else in the world. Same goes for the IRS when it comes to tax evasion.
It's amazing how these types of vague, rhetorical anticapitalist comments here on HN almost consistently end up lacking any substance and add nothing to the conversation.
- _jal 6y agoWhat's going on is complicated, it isn't surprising that a lot of folks get it wrong. I don't know much about SEC enforcement, but the IRS has become far less fearsome over time. Again, a somewhat complicated story; there's a good overview here: https://www.propublica.org/article/how-the-irs-was-gutted https://www.propublica.org/article/how-the-irs-was-gutted One top-line number: > The IRS conducted 675,000 fewer audits in 2017 than it did in 2010, a drop in the audit rate of 42 percent. Audits of the very wealthy have declined dramatically.