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If this was true there would not be millions/billions constantly spent on pushing for tax cuts and lobbying and hollowing out IRS enforcement.
by croon 1y ago
If this was true there would not be millions/billions constantly spent on pushing for tax cuts and lobbying and hollowing out IRS enforcement.
- Arnt 1y agoI think you're saying that people would only lobby for tax cuts if their tax bill has one set of reasons, and not if their tax bill has another set of reasons. Right?
- diggan 1y agoI understood it as "If 'Really rich people don't have a lot of money' is true, then how come there is so much money being spent on lobbying?" which sounds like a fair point. Where does that money come from if all this wealth is illiquid?
- Arnt 1y agoAIUI, the amounts spent on lobbying are large of you compare them to what ordinary people spend on rent, but piddly if you compare them to what a government collects from even minor taxes.
- croon 1y agoMeaning they have a lot of taxable assets, under current tax code. Otherwise they wouldn't care. There are estimates that every dollar spent on the IRS yields 6 dollars in collected taxes [1][2], without passing any changes. The only reason to lobby against the IRS is to avoid paying the taxes you already owe. [1] https://www.washingtonpost.com/opinions/want-to-shrink-deficits-or-fund-bidens-spending-plans-give-the-irs-more-money/2021/03/25/2959bcd8-8d90-11eb-9423-04079921c915_story.html https://www.washingtonpost.com/opinions/want-to-shrink-defic... [2] https://tracreports.org/tracirs/newfindings/v18/ https://tracreports.org/tracirs/newfindings/v18/