(ConservativeInsider.org) – President Joe Biden is looking to raise taxes in order to fund his latest outrageous spending bill, but perhaps he should focus on how to collect those new taxes first. A recent statement from the IRS shows that the amount that taxpayers owe the federal government, known as the tax gap, is set to reach record numbers this year.
On Tuesday, April 13, IRS Commissioner Chuck Rettig told the Senate Finance Committee that the tax gap is likely to exceed $1 trillion per year. This is over twice what was previously estimated. As for who owes all this money, the IRS says that the top 1% of taxpayers account for approximately $175 billion of the gap.
Washington Post writer Jennifer Rubin shared more about the uncollected monies:
The IRS chief noted that the vast majority of the tax gap comes from uncollected (i.e., evaded) taxes on corporations and the rich. Think of it as an extra tax cut for corporate America and for the super-rich.https://t.co/TvMauv94fj
— Jennifer 'pro-voting' Rubin (@JRubinBlogger) April 14, 2021
The IRS is currently hoping for additional resources to modernize its systems and to hire additional enforcement personnel. Of course, this all comes at a cost. So, perhaps rather than spending mind-boggling amounts of money on universal healthcare and other socialist ideas, the Left should help boost the government’s ability to collect the money they need to make these changes in the first place.
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