TurboTax is blitzing Congress for the right to tax YOU

Re:TurboTax is blitzing Congress for the right to tax YOU by rrrrrrrrrrrryan on Monday February 20, 2023 @08:58PM (#34875534)

Which is ridiculous, because the IRS brings in $3 for every $1 of additional funding. It's the only government agency for which this is true.

Keeping the IRS small and weak literally only helps extremely wealthy people dodge the taxes they owe.

[ Parent | on HN ]

Re:TurboTax is blitzing Congress for the right to tax YOU by cuteboy19 on Monday February 20, 2023 @09:17PM (#34875653)

There is also a hazard in this line of thinking. The money that the IRS collects is owed only in the most legal of senses. In reality there is very little reason why any individual should forgo 30% of their income for not much benefit. Thinking of the IRS as a infinite money multiplier implies thinking of the people as a bottomless well of money.

The answer is not to keep funding the IRS until this ratio comes to a saturation point, but to reduce taxation till this ratio reduces to a more sane number

[ Parent | on HN ]

Re:TurboTax is blitzing Congress for the right to tax YOU by rrrrrrrrrrrryan on Monday February 20, 2023 @10:20PM (#34876051)

> there is very little reason why any individual should forgo 30% of their income for not much benefit

You're right - extremely wealthy individuals should forgo 70%+ of their income for not much (individual) benefit.

[ Parent | on HN ]

Re:TurboTax is blitzing Congress for the right to tax YOU by kadoban on Monday February 20, 2023 @10:21PM (#34876068)

> In reality there is very little reason why any individual should forgo 30% of their income for not much benefit.

Other than the benefit of having a functioning society, and some sort of semblance of a safety net.

[ Parent | on HN ]