Original article:
The richest 1% are responsible for more than one-third of total tax evasion.
Frank Clemente Unsubscribe
7:01 PM (15 hours ago)
to me
Peter,
Republicans are threatening to torpedo the bipartisan infrastructure bill in order to protect tax cheats.
In 2019, the U.S. lost $600 billion in revenue to tax evasion and noncompliance―roughly 15% of taxes owed.[1] And the richest 1% are responsible for more than one-third of total tax evasion.[2]
Since Republicans are demanding that the infrastructure bill be 100% paid for, cracking down on tax cheats was a logical place to start. The bipartisan deal proposed increasing the IRS’s budget by $40 billion to net $100 billion from tax cheats.[3]
But yesterday, on CNN’s Sunday show, Sen. Rob Portman (R-OH) said that the plan to raise billions of dollars from wealthy tax cheats wasn’t something he or his Republican colleagues would support.[4]
We’re fighting back, demanding that IRS enforcement of tax cheats be included in either the infrastructure bill or President Biden’s Build Back Better package.
Donate today to hold Senators (and tax cheats!) accountable.
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Since 2010, audit rates of the richest 1% and large profitable corporations have dropped precipitously, as Republicans in Congress cut IRS funding for investigations, examinations and collections.[5] In fact, the IRS lost nearly one-third of its enforcement employees between 2010 and 2018, or 14,000 workers.
As a result, the audit rate for taxpayers with income over $1 million was down 81% in 2019 compared with 2011.[6]
Stop Senate Republicans from protecting wealthy tax cheats! Donate today to demand action.
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While we’re fighting for $4 trillion more in taxes from the rich and corporations, we also need to enforce our existing tax laws, simply requiring the wealthy and corporations to pay what they already owe.
It’s one thing to rig the tax system in favor of the rich and corporations. It’s another to not even enforce that tax code and let millionaires, billionaires and corporations off the hook.
Thank you for taking action today!
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] “The American Families Plan Tax Compliance Agenda,” U.S. Department of the Treasury, May, 2021
[2] “The richest 1 percent dodge taxes on more than one-fifth of their income, study shows,” Washington Post, March 26, 2021
[3] “Bipartisan infrastructure deal could make it harder for tax cheats to elude IRS,” The Washington Post, June 28, 2021
[4] “U.S. senators drop tax enforcement from bipartisan infrastructure bill –Portman,” Reuters, July 18, 2021
[5] “Unrigging the Economy Will Require Enforcing the Tax Laws,” Center for American Progress, March 12, 2020
[6] “IRS Budget Cuts Let Wealthy Tax Cheats Get Away With It,” Center for American Progress, August 6, 2020
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