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Stock Market/Investing/Day Trading/Speculative Trading Thread

there's literally never a reason to audit any family making under like $200k, the juice can't be worth the squeeze

ironically, the people protesting the loudest amongst politicians and the media are probably the ones who should be 1) getting audited and 2) under investigation by the SEC
 
jw3 said:
there's literally never a reason to audit any family making under like $200k, the juice can't be worth the squeeze

ironically, the people protesting the loudest amongst politicians and the media are probably the ones who should be 1) getting audited and 2) under investigation by the SEC
Click to expand...


The Democrat model of auditing mostly people making less than $100,000/yr to find “Billions” of lost tax revenue is insane.

If all of those people failed to report 100% of their income it would barely cover the salary/pension/man hours spent by the 87,000 new IRS agents auditing them.


It’s so wild how people just don’t understand it. The average US “tax cheat” (their words) is saving ~$2,000 in taxes. The agents spending time auditing and prosecuting them cost the Government more than that.


DC is so fucked
 
God is a Husker said:
The Democrat model of auditing mostly people making less than $100,000/yr to find “Billions” of lost tax revenue is insane.

If all of those people failed to report 100% of their income it would barely cover the salary/pension/man hours spent by the 87,000 new IRS agents auditing them.


It’s so wild how people just don’t understand it. The average US “tax cheat” (their words) is saving ~$2,000 in taxes. The agents spending time auditing and prosecuting them cost the Government more than that.


DC is so fucked
Click to expand...
100%

The threat of an audit is a deterrent. Increasing that threat by 5% (at best?) isn't any more of a deterrent.
 
God is a Husker said:
The Democrat model of auditing mostly people making less than $100,000/yr to find “Billions” of lost tax revenue is insane.

If all of those people failed to report 100% of their income it would barely cover the salary/pension/man hours spent by the 87,000 new IRS agents auditing them.


It’s so wild how people just don’t understand it. The average US “tax cheat” (their words) is saving ~$2,000 in taxes. The agents spending time auditing and prosecuting them cost the Government more than that.


DC is so fucked
Click to expand...
My tax fraud as a person making sub $100k was limited to buying an $800 bottle of champagne at a Vegas night club in 2011 with my HSA card because I was on a bender and my credit cards had been shut off.

What’s the go live date on the beefed up IRS? Hoping it is something a regime change can unwind/stop.
 
Jay Bilzerian said:
What’s the go live date on the beefed up IRS? Hoping it is something a regime change can unwind/stop.
Click to expand...
How long is it going to take them to find employees let alone train them? Short of the job market collapsing it's years away. The accounting field is very very short on qualified people. It hasn't normalized since they added extra requirements for CPA's in like 2001.

I was looking for staff this summer and one of the biggest recruiters in town didn't have anyone. Their strategy was cold calling people to see if they can pry them from their current job.
 
jw3 said:
there's literally never a reason to audit any family making under like $200k, the juice can't be worth the squeeze

ironically, the people protesting the loudest amongst politicians and the media are probably the ones who should be 1) getting audited and 2) under investigation by the SEC
Click to expand...





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