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The US’s tax system is different from some other countries’, because citizens are responsible for disclosing all their taxable income to the government instead of the government telling them what they owe. The IRS calls this “voluntary compliance,” which implies that the 85% of taxpayers who obey tax laws do so of their own free will, out of a sense of duty or because it’s the right thing to do.
This is quite the same we have in India.
It’s the IRS’s good luck that many Americans still seem to believe an army of tax detectives lurks behind every door. In reality the agency has struggled to enforce the law. The chance that an average taxpayer will be audited in any given year is vanishingly small, around 0.4%. For a rough measure of how much tax evaders cost the Treasury, look at the size of the “tax gap.” That’s the difference between what the government is owed and what the IRS is able to collect—mostly a result of taxpayer error or dishonesty. The most recent estimate, from 2022, put the net tax gap at $606 billion.
Now this is tough to digest that a country so advanced in technology lacks in it for the agency that makes money for the politicians (in a way 😜).
What do you say?
It’s risk that has landed many of Bitcoiners in prison.
It’s easy to be a keyboard warrior Like Darth coin and be called a bootlicker for paying your taxes to the state but as with any lone wolf strategy you will go down and your internet cheerleaders will vanish unwilling to help you pay your expensive tax lawyer bills, put money on your books, or shoot write you a letter.
American men are cucked. Maybe been cucked since world war 2. Maybe strongest and the bravest men died so the weak ones prosper and allowed this outrageous tax system thrive on. Until people get proper representation we will always be under the thumb of the government to pay our taxes.
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Ouch. I have never heard this before. Only the weak ones have prospered since ww2?
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It is hard to understand why the IRS isn't fully staffed, when every other part of the government is absurdly bloated.
Don't get me wrong, I'm glad they aren't able to steal more money from honest people, but each IRS agent does bring in more additional revenue than they're paid. From a purely organizational perspective, hiring more IRS agents is kind of a no-brainer.
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I love how Bloomberg is concerned about tax cheating but encourages people to ignore immigration laws
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