07 February 2024, 06:54
JefffiveMore Bad News for Republicans
quote:
The IRS said it is poised to reap hundreds of billions of dollars of additional tax revenue by going after overdue and unpaid taxes, far beyond what was previously anticipated, thanks to funding from the Inflation Reduction Act (IRA).
The new analysis, released Tuesday by the Treasury Department and the IRS, estimates that tax revenues are expected to rise by as much as $561 billion from 2024 to 2034, thanks to stepped-up enforcement made possible with money from the Democrats' IRA, which became law in August 2022.
Link07 February 2024, 17:33
jeffeossoquote:
561 billion from 2024 to 2034
Okay, this is still a math problem, but now it's a word problem - IDK if they teach word problems in peckerwood county, but some people say that word problems are harder than regular math - and we all know math is hard -
In typical government usage, where "Savings" are presented in decades, and spend is presented in single year - just to confuse the issue, of course, this projected saving is $561 BILLION over 10 years -- which is
$56,100,000,000 per year - or 56 billion a year/6.5 trillion a year
56 billion is less than 1% of the 2022 federal spend At 2022 spending rates, the 56 billion would fund the government for just a bit over 3 days (3.15 days) (just to tie back the math, 1% of a year is 3.6525 days)
In typical misleading to mislead communications, this is much ado about nothing -
in fact, in crowing about LESS THAN 1% "improvement" while threatening even MORE Americans with fines and imprisonment, without cutting spending 1%, is rather a damning statement of failure to govern
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