America Is a Tax Haven for the Rich
The wealthiest 1 percent are evading about a quarter-trillion dollars of owed taxes every year, and corporations are audited at half the rate of poor people. Something is deeply wrong here.
In recent years, the Internal Revenue Service has significantly shrunk in comparison to the economy it is supposed to be patrolling. (Reza Rostampisheh / Unsplash)
Buried in a new Treasury Department report is one graph and one stat that tells the entire story of America becoming a lawless tax haven for the wealthy.
The graph on page 10 of the report shows that the Internal Revenue Service’s budget has steeply declined as a percentage of the economy’s overall size. Put another way: the agency policing tax crime has significantly shrunk in comparison to the economy it is supposed to be patrolling.
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