August 17, 2022 - 1:38 pm
Updated August 17, 2022 - 3:27 pm
We’ve heard a lot about the IRS hiring 87,000 agents at a cost of $80 billion in order, according to some people, to prevent billionaires from taking illegal deductions. They say they’re “not paying what they owe.” However, they’re only following the tax laws as they’re written.
If the IRS wants to collect tens of billions of dollars at essentially no cost, Congress should rewrite the laws that allow these deductions. Then those who are currently paying less taxes legally will still follow the new rules and pay more — and we don’t have to hire $80 billion worth of people.