Mastodawn

Peter Newland Jul 11, 2024

The Treasury Department and the IRS announced Thursday they have collected more than $1 billion has been collected in past-due taxes from high-income, high-wealth Americans.

The collections were made possible under the #Biden administration Inflation Reduction Act, the agencies said in a joint statement.
https://www.upi.com/Top_News/US/2024/07/11/IRS-IRA-back-taxes-wealthy/1981720701590/

IRS collects more than $1 billion in back taxes from wealthy under Biden's IRA - UPI.com

The Treasury Department and the IRS said Thursday over $1 billion has been collected in past-due taxes from high-income, high-wealth Americans. It was made possible by the Biden administration Inflation Reduction Act.

UPI

Finerthanfroghair Jul 11, 2024

@GottaLaff a tiny drop in a huge bucket....

Steve Popovich Jul 11, 2024

@GottaLaff It's starting to work, that's why they're so desperate to stop it. Of course the rich will still be swimming in money, regardless, and will continue to get richer. That amount of tax isn't even a speed bump for that class.

Ken Brucker Jul 11, 2024

@GottaLaff but that means they could come for me and take my money … oh wait, I’m not cheating, I pay my taxes. I’ve got nothing to worry about. Fuck you GOP propagandists. Go get audited.

I’d love to see stats on political affiliation of who they’ve collected all that from.

Old Man in the Shoe Jul 11, 2024

Explains why he lost Clooney's vote

artisanrox Jul 11, 2024

now THIS is some great news

Nicole Parsons Jul 11, 2024

No wonder billionaires are funding an anti-democracy malign influence campaign via the New York Times.

A second Biden administration means they have to pay taxes.

Then they'd have less money to fund fascist movements.
https://www.icij.org/investigations/pandora-papers/top-economist-pitches-global-billionaire-tax-to-g20-finance-leaders/

https://www.icij.org/investigations/paradise-papers/a-global-billionaire-tax-could-generate-250-billion-annually-researchers-say/

https://www.forbes.com/sites/taxnotes/2024/02/27/taxing-billionaire-borrowing-a-new-kind-of-wealth-tax/

https://www.theguardian.com/inequality/2024/apr/25/ministers-of-germany-brazil-south-africa-and-spain-why-we-need-a-global-tax-on-billionaires

https://www.theguardian.com/inequality/2024/apr/25/billionaires-should-pay-minimum-two-per-cent-wealth-tax-say-g20-ministers

https://www.ft.com/content/f0eee3a9-52b1-4edb-bc1c-b0155735ece5

Top economist pitches global billionaire tax to G20 finance leaders - ICIJ

The coordinated push would tax the world’s ultrarich 2% of their wealth annually, and could generate $250 billion in revenue for governments per year, according to a new report.

ICIJ

Lazarou Monkey Terror 🚀💙🌈Jul 11, 2024

@Npars01 @GottaLaff Some argue Brexit happened because of new EU tax laws that were coming into effect.

Elisheva Meira ✡︎ 🌈Jul 11, 2024

@Npars01 I'm not remembering details, but there was something like this around Brexit too. Getting out of the EU before some tax thing I think.

The UK effectively sanctioned itself to benefit some billionaires.

Kinene⭐🐻Jul 11, 2024

@Npars01 @GottaLaff Aww. Poor babies! They would have to share! They hate that word.

Peter Butler Jul 11, 2024

@GottaLaff And you wonder why all the for-profit news pubs are anti-Biden …

ablobthinkingeyes

Laffy Jul 11, 2024

@peterbutler Nah, I don't wonder.

bk Jul 11, 2024

@GottaLaff This is how to reduce debt…

cslinuxboy Jul 11, 2024

@GottaLaff That's a good start but still not good enough. It should be more like $100 billion.

Dave Goldsmith Jul 11, 2024

Is this outstanding billion dollars more than is usually collected annually? What is the estimated amount of total outstanding taxes due by millionaires and billionaires? What penalties are applied on these outstanding taxes?

Aviva Gary Jul 11, 2024

@GottaLaff good... more...

SpaceLifeForm Jul 11, 2024

There is more where that came from.

Some of that money should be used by the IRS to collect more.

Finders Fee.

Jiří Fiala Total Landscaping Jul 11, 2024

@GottaLaff wow an entire billion!

Truth Or Consequences ✅ 🇺🇦Jul 11, 2024

You can see why corporations, big media and oil oligarchs are so determined to oust Joe Biden.

cowvin Jul 11, 2024

@GottaLaff This is precisely why Republicans want to defund the IRS.