Jack Crivici-Kramer
👤 SpeakerAppearances Over Time
Podcast Appearances
But the truth is that auditing tends to happen to wealthy people because they pay taxes voluntarily, unlike W-2 workers who
who pay taxes automatically.
See, the self-employed, entrepreneurs, the wealthy, people with complex returns, they pay what they decide to pay.
Basically, that's why $700 billion of taxes owed doesn't get paid each year in the United States.
That much money, it could fund the entire Department of War.
That $700 billion of taxes not paid is called
The tax gap and most of that tax evasion is from people making over a million dollars.
And that is why each $1 invested into the IRS generates $6 of revenue through audits, according to the Congressional Budget Office.
And that same $1 in tax collection generates another $7 in deterrence.
Yet he's had all this up.
Audits and the fear of audits is how our country gets the wealthy to pay their taxes that are due.
Well, if we run the government like a business, I would be giving the IRS all the money they could possibly want.
Yeah, if we had a T-boy channel on like some social media, even if it was like over in China that was getting $7 for every dollar we put into it, we would be loading that thing up with budget.
Plow every dollar we have into that channel.
Besties, it's because the ROI on the IRS is the best investment in our economy.
$1 spent brings in $13.
Jack, could you whip up the takeaways for us for ceviche Wednesday tax day?
Amazon acquired a constellation of satellites and an Apple deal to catch up with SpaceX.
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