Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers

Abcnews ^ | 09/06/2024 | FATIMA HUSSEIN

[ChicagoConservative27]

ABC is excited. 🙄🙄🙄

[Responsibility2nd]

1.3 Billion? Congratulations.

That’ll just about cover a half a days INTEREST owed on the National Debt.

[HYPOCRACY]

Maybe a few hours.

[rovenstinez]

Wow, more money for the Ukraine

[sten]

they could’ve ‘recovered’ a few hundred billion by not pouring it into ukrainian pockets (while taking their own 10%)

[Auntie Dem]

If this is a milestone in IRS collections it’s from some distant past wayback machine. I worked for the IRS under Reagan (actually 71 thru 84) collecting from the deadest of deadbeats and IFIRC I averaged over $1M in annual collections, which was about average, and there were (at that time) about 4,000 employees like me nationwide. That would calculate to about $4Billion a year in collections. Seems like today’s IRS, under Democrat administration, is going backwards—waaayyyy backwards.

[E. Pluribus Unum]

$1.3 billion collected by 85,000 new IRS agents for an average of $15,294.12 per agent.

Very impressive. </sarcasm>

[GrandJediMasterYoda]

Let’s see how much they collect when/if Kamala steals the election and all the rich leave the country, all those “evil” rich people who invest in all those horrible companies that create jobs, careers and pride in people so they don’t have to go on their knees to the government for crumbs.

[dragnet2]

IRS campus?

WTF...

[Right_Wing_Madman]

Maybe a few hours.

$1.3 billion is gone in two hours. In 2024, the US government spends about $700 million per hour.

[dragnet2]

You bet...The U.S. government spends like a drunken lottery winner... $1.3 billion is a joke...It eats through that in minutes.

[KevinB]

Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers

[mfish13]

Mostly from Demcrats.

[PTBAA]

Ukraine needs the money.

[C210N]

I worked for the IRS under Reagan...

You are aware, many here are not, so worth repeating:

From Reagan's EO12369 creating the Grace Commission, the report states:

"With two thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the federal debt and by federal government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services that taxpayers expect from their government."

[OldGoatCPO]

Yep, if they fond just another $106 billion that will repay money directly sent to Zelensky.

[quantim]

It gets worse too, when the GOPe/uniparty raised the debt ceiling Xiden went and spent it too, causing all this inflation. It was really caused by this POS congress giving fake printed money to Xiden. At this rate some 5.5 billion in debt is piled on the national debt every day.

[lurk]

That much money will buy you the front end of a nuclear sub.

[learner]

Ask the IRS how many billions were stolen from Covid/Bilen plans which the IRS administered.

[dadfly]

wow. thanks for the comment. even tax collection was more efficient under the great RR.