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> Meanwhile the billionaires or hundred-millionaires will still be able to find a way to reduce their tax because they have enough capital to hire an army of ta

> Meanwhile the billionaires or hundred-millionaires will still be able to find a way to reduce their tax because they have enough capital to hire an army of tax accountants. > Dems shout about billionaires and hundred-millionaires for years. Yet they never make law that targets this particular group. What is up with that? That's an excellent point. The IRS is chronically underfunded and the added funding for it was removed in the latest bill. They can afford to sneak around the tax code because of hired help and loopholes (like taking out loans rather than paying from money you 'own'). I do think focus is much too powerful on 'moderately wealthy' people. Relevant: https://www.reuters.com/article/us-usa-treasury-irs/irs-chief-says-1-trillion-in-taxes-goes-uncollected-every-year-idUSKBN2C0255 https://www.reuters.com/article/us-usa-treasury-irs/irs-chie... I know audits are random, but I really think if you make over a million or something, you should be automatically audited. But then...that would require funding the IRS adequately. Edit: typo

seanmcdirmid 5y ago
The IRS has invested a lot in low effort automated audits that catch non-rich people when they try to cheat on their taxes (they are usually not very smart about it), while the rich people who can afford accountants and lawyers make their cases too expensive in manual effort and time to pursue under a cut budget. They just can only audit so many millionaires+ every year, while they can audit almost everyone else with a push of a button.