Tax who? Tax cheats‼️

I love this quote:

“For too long, working fam­i­lies have footed the tax bill for America‘s bil­lion­aires and cor­po­ra­tions,” Rep. Pe­ter De­Fazio (D., Ore.) said on Twit­ter. “I’m proud to be work­ing [with Pres­i­dent Biden] to en­sure the IRS has the fund­ing to en­sure the wealth­i­est pay their fair share & to pro­vide ba­sic tax­payer services.” Source: WSJ 4-28-21

mostly because it’s pure nonsense. The largest revenue loss is not from those mentioned, but from small businesses and individuals who deal with cash. In fact, that is where the enhanced enforcement is aimed.

47% of “working families” paid no income tax in 2019 by taking advantage (correctly) of every credit, deduction and applicable provision of the tax code … just like billionaires and corporations do.

2 comments

  1. True. If the politicians ever actually made the tax code fair, rather than using it as a way to promote every one of their special interests through tax policy, we wouldn’t have all of the loopholes that they are so quick to condemn.

    Like

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