Qasim Rashid, Esq.Apr 15, 2024

Your Tax Day reminder that the IRS estimates billionaires evade $150B in annual taxes & DOL estimates $50B in annual wage theft.

That $200B could pay for 4 year public college, insulin for all who need it, & end homelessness in America.

We can satisfy those in need—but not billionaire greed.

Tax billionaires. Invest in working people. Save our economy.

Show threadAmoshias

@QasimRashid citation? That seems like a lot.

I don't think that makes your fundamental point any less valid but I'd still like to see the underlying analysis.

Apr 15, 2024 at 9:49pmWeb
Show threadcathosApr 15, 2024
@Amoshias @QasimRashid there are a lot of commonly-reported numbers - $150 Billion is an estimate for a single year, published a few months ago: https://www.cnbc.com/2024/02/22/tax-evasion-by-wealthiest-americans-tops-150-billion-a-year-irs.html . There are articles from 2021 estimating that the IRS is short of its estimates by about $1 trillion from the last decade or so.
Show threadAmoshiasApr 15, 2024
@cathos @QasimRashid thank you!
Show threadHarry WoodApr 16, 2024
@Amoshias @QasimRashid The IRS estimate is probably similar to the methodology in this "State of Tax Justice" report: https://taxjustice.net/reports/the-state-of-tax-justice-2023/ Not U.S. specific, but I see on page 38 they're totting up North America tax losses of 141,297.0 million USD. It's based on OECD data and looking at corporate economic activity versus declared profits.
The State of Tax Justice 2023 - Tax Justice Network

CORRECTION – 23 August 2023: Due to a coding error, some data on 10 small jurisdictions was left out of the report’s tally on tax losses arising from global tax abuse. These jurisdictions are Anguilla, Cook Islands, French Guiana, Gibraltar, Guadeloupe, Guernsey, Jersey, Saint Martin, Taiwan, Wallis and Fortuna. Adding the missing data to the report’s […]

Tax Justice Network