Answered phones and 4 other ways the #IRS funding boost is paying off

Natasha Sarin - "My work with Mark J. Mazur, a former assistant treasury secretary for tax policy, suggests the agency will collect upward of $500 billion from these efforts over the next decade. And the total might well be higher. Recent work suggests every $1 spent auditing high-income individuals means more than $12 in additional tax revenue".
https://www.washingtonpost.com/opinions/2023/08/17/irs-funding-tax-season-wait-times/

#tax #TaxTheRich #TaxPolicy #InflationReductionAct

I have seen announcements from both National and Labour about how much less tax or GST the "average" (mean? median? waged-or-salaried-only? >16?) person would pay under their proposed policies.

To me that "average" number is irrelevant. The more important numbers are how much less (or more) the poorest and richest people will pay, and especially the former. I need these numbers to gauge the fairness and worth of the policy.

#TaxPolicy #Election2023

Crypto Staking in the Crosshairs: IRS Unveils New Tax Guidance - The U.S. Internal Revenue Service (IRS) has issued a decree stating that American ... - https://news.bitcoin.com/crypto-staking-in-the-crosshairs-irs-unveils-new-tax-guidance/ #deferredcapitalgains #validationrewards #americancitizens #fairmarketvalue #cryptocurrency #digitalassets #liquidstaking #taxguidelines #grossincome #withholding #irsstaking #regulation #taxpolicy #taxyears #taxation #staking #debate #kraken #taxlaw

Teen marijuana use is not related to changes in the state cigarette tax.

https://pubmed.ncbi.nlm.nih.gov/33888919/

#NICHDImpact #Teens #Youth #Marijuana #Smoking #Cigarettes #TaxPolicy

Taxing the amount of sugar in a drink, not the volume of liquid that accompanies the sugar—could boost the health & economic impact of sugar sweetened beverage taxes by roughly 30%

https://www.ncbi.nlm.nih.gov/pubmed/31488678

#NICHDImpact #PublicHealth #Sugar #TaxPolicy

Comforting the comfortable…

“These cuts are great news for wealthy tax evaders and bad news for the rest of us.”

LA Times Owen Tucker-Smith

https://t.co/7eZEpmvlPF

#Business #irs #taxes #taxpolicy #congress #taxcheats #politics

Massachusetts' 61B property tax break is meant to apply to natural spaces and recreational areas open to the public or to members of a nonprofit. But these highly exclusive golf clubs are nonprofits, too. Talk about gaming the system!

Was the Legislature naïve when it passed this, or was this done knowingly, since these clubs "do a lot for the community"?

https://www.bostonglobe.com/2023/05/02/metro/this-is-unjust-wrong-amid-economic-downturn-state-program-slashes-elite-golf-clubs-property-taxes/

#mapoli #taxpolicy #taxes #openspace

How much has the US spent on consumer incentives (tax credits) since 2000?

My hypothesis is that the overall has been exceptionally low when compared to the estimated societal costs due pollution that was offset by EV incentives.

#Analytics #Data #EV #TaxPolicy #Pollution #ICE #PetroDollar

Dems could name their tax proposals "The Restore Your Granddaddy's Fair Tax Rates" or something catchy-er than I can think of right now.

#NBCNews
#Bias
#TaxPolicy
#Democrats

Why does #NBCNews coverage of tax measures proposed by #PresidentBiden characterize them as "new taxes" or "new tax increases", rather than as "restoration of tax rates" to a prior benchmark year?

#MediaBias
#TaxPolicy

The five largest oil companies raked in $195B in profits last year, which is 20X higher than the entire annual budget of the EPA. The US is a petrostate.

#climatechange #taxpolicy

Black Americans are 3 to 5 times as likely to be audited by the #IRS, compared to other taxpayers, "even when comparing that group to other taxpayers who also claim the EITC" & "accounting for differences in the types of returns" https://www.nytimes.com/2023/01/31/us/politics/black-americans-irs-tax-audits.html #racialequity #taxpolicy #blackmastodon
via DataHaven (@ctdata)

“If Republicans hadn’t spent nearly $2 trillion on the Trump tax cuts for giant corporations and billionaires and hollowed out the IRS to help wealthy tax cheats, the United States wouldn’t even need to raise the debt ceiling this year.” - Elizabeth Warren
#debtceiling #taxpolicy

Extraordinary even when compared to trends during the past two decades of rising #inequality.

“During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent.”

https://www.oxfam.org/en/press-releases/richest-1-bag-nearly-twice-much-wealth-rest-world-put-together-over-past-two-years #wealth #taxpolicy #billionaires

This segment is astonishing but not surprising. #npr's capitalism-cheerleading #Marketplace show lays it out in plain view. The ultra-wealthy greedhounds and their Captive #congress are ransacking us. It's always been thus to some degree but it's hugely exaggerated now. #mlk would be encouraging us to #CHANGE this. https://www.marketplace.org/2023/01/16/how-the-worlds-richest-people-became-much-richer-during-the-pandemic/ #taxpolicy

How to say "I'm an idiot" without actually saying "I'm an idiot".

#annapaulinaluna #gop #republicans #taxpolicy

https://crooksandliars.com/2023/01/rep-anna-paulina-luna-doesnt-seem-know-0

(3/n) “there should be a noticeable difference between the fees small city cars and big sport utility vehicles have to pay, which actually aren’t needed in the city.”

A New Way to Curb the Rise of Oversized Pickups and SUVs

https://www.bloomberg.com/news/articles/2022-05-26/a-new-way-to-curb-the-rise-of-oversized-pickups-and-suvs #roadsafety #taxpolicy #urbanism #walkability #BikeTooter #publichealth #visionzero

Accounting for Black-White Wealth Differences: A Stylized Model of Wealth Accumulation: New paper by Kathryn Edwards at #RAND
https://www.rand.org/pubs/research_reports/RRA1259-1.html
#racialwealthgap #racialequity #inequality #wealth #sociology #socialpolicy #taxpolicy cc @philipncohen

#RitadelaFeria advocating that #taxpolicy cannot be looked at in isolation, but along side #taxadministration to make tax compliance simple, and #taxmorale so citizens believe they get value from their taxes #taxmix2050

#PaulTang arguing that too much #taxpolicy discussion is happening behind closed doors. The #taxmix2050 discussions shouldn't just be a one off, and shouldn't just be happening in Brussels but around Europe.