Earlier this week, ProPublica released a report based on the private tax data of wealthy Americans it had acquired. Just how it managed to acquire this information is still somewhat of an open question, but it is nevertheless a reminder of the dangers of entrusting the IRS with more and more of taxpayers’ sensitive information.
Ever since Internal Revenue Service (IRS) Commissioner Chuck Rettig claimed the “tax gap,” or the difference between taxes owed and taxes collected, could be as large as $1 trillion per year, politicians have been scrambling to outbid each other on how much money to throw at the IRS. After President Biden put forward a plan to increase the IRS’s budget by $80 billion over the next decade, already a massive increase, Sen. Elizabeth Warren (D-MA) decided to one-up him by jacking up the IRS’s budget by $315 billion over that same time period.
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