Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Trump Slashing IRS To Help Billionaire Tax Evasion
Posted
March 12, 2017
Views
113,219
Likes
2,603
Comments
594
Engagement
2.82%
March 12, 2017
113,219
2,603
594
2.82%
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9:23Now PlayingIt’s smart to take tax cops off the beat when planning a robbery. Cenk Uygur and John Iadarola, hosts of The Young Turks, discuss. Tell us what you think in the comment section below.
"President Donald Trump’s spokesman Sean Spicer said the president won’t release his taxes because he’s still under audit, but he may be one of the unlucky ones who the Internal Revenue Service can actually get to.
As staffing for key enforcement positions in the IRS has fallen nearly 30 percent from 2010 to 2016, audit rates have undergone a precipitous decline, according to The Washington Post. For large companies, audit rates fell by nearly 50 percent, declining from 17.8 percent in the 2012 fiscal year to 9.5 percent in the 2016 fiscal year.
Similarly, individual income tax returns have seen such low audit rates that only 0.7 percent of the 147 million returns submitted in the 2016 fiscal year were subject to audit, the lowest figure in more than a decade.
This problem will only get worse if President Trump’s plans for the tax agency take effect, analysts say. Under Trump’s budget, the IRS would experience a 14.1 percent funding cut starting in October, reducing its budget to $9.65 billion, according to The New York Times. This contradicts the position expressed by Treasury Secretary Steve Mnuchin during his confirmation hearing, in which Mnuchin explicitly stated that “we add people, we make money” — namely, that it made fiscal sense to hire more staffers at the IRS because their work ultimately paid for itself.”*
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Hosts: Cenk Uygur, John Iadarola
Cast: Cenk Uygur, John Iadarola
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The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 68pm ET.
Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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