Remember when the Biden administration

[KMac]

Said that they were hiring 87,000 new agents to make to make sure that the 700 billionaires in the US pay their fair share??? Not so fast my friend... LOL...

"The IRS says its 87,000 new hires could help collect as much as $1 trillion by forcing tax cheats to pay up."

Lol... The American tax payers are getting ready to be jail house abused by the IRS.. Small business owners better take cover..

[bluewaterposer]

Simply really?
Democrats, evil continuously

Need I quote more?

BWP

[Still Learning]

Said that they were hiring 87,000 new agents to make to make sure that the 700 billionaires in the US pay their fair share??? Not so fast my friend... LOL...

"The IRS says its 87,000 new hires could help collect as much as $1 trillion by forcing tax cheats to pay up."

Lol... The American tax payers are getting ready to be jail house abused by the IRS.. Small business owners better take cover..

Thats 125 IRS agents for each billionaire.
What could be wrong with that

[Parker Yacht]

Alotta money to count. Don't forget the lawyers.
Methinksnits easier going after the little people.

[Coastboater]

In 2025, convert them to ICE and start rounding up illegals.
Figure by then there will be at least 5 million of them, so each agent has to catch 50 or so…

[Parker Yacht]

Said that they were hiring 87,000 new agents to make to make sure that the 700 billionaires in the US pay their fair share??? Not so fast my friend... LOL...

So. There is the 1%'s
And there are the Billionaires in America.
330,000,000
÷ 660
=
0.000002
Hows that for elite.

[Lprizman]

You wasting your time.....duh!!!!!!

[Sans Peur]

So. There is the 1%'s
And there are the Billionaires in America.
330,000,000
÷ 660
=
0.000002
Hows that for elite.

They would probably need a couple hundred agents per billionaire. You know how spread out their finances are? Most of those guys would have so many separate companies that own other companies that in turn own other companies, it would take years to unravel. If they were (and most are) actively hiding income and assets, IRS could probably never get to the bottom. Shoot I am just a little material handling dealer and I have four separate companies.

[Parker Yacht]

What's interest earned on a B a year?

[Sans Peur]

While most will not have that in cash (usually it is a mix of investments, cash, businesses and their value plus assets) if they did have a Billion in cash their interest rate would be much better than you or I could get. I think the assumed rate of return right now is a little over 5% annually.

I bet they actually make much better with it spread out. Plus being spread out allows the opportunity to decrease your tax burden. Especially if some of it is overseas in strategicly thought out locations and businesses.

[KMac]

Well, 5% of 1 billion is 50 million.. But, who's counting..

[Parker Yacht]

Yea. OK.
That works too.

[KMac]

Lol