Biden Seeks $80 Billion To Crack Down On Tax Evasions 1

Biden Seeks $80 Billion To Crack Down On Tax Evasions

 

Today marks the last day to file 2020 taxes and President Biden is seeking out funding to close tax collection loopholes. New York Times White House Correspondent Jim Tankersley breaks down how the president hopes to address the tax gap and use his proposed IRS program to pay for his sweeping economic plans.
» Subscribe to MSNBC:

MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, Meet the Press Daily, The Beat with Ari Melber, Deadline: White House with Nicolle Wallace, Hardball, All In, Last Word, 11th Hour, and more.

Connect with MSNBC Online
Visit msnbc.com:
Subscribe to MSNBC Newsletter:
Find MSNBC on Facebook:
Follow MSNBC on Twitter:
Follow MSNBC on Instagram:

#WhiteHouse #Biden #MSNBC

57 comments

    1. If you don’t look for ways to avoid giving the government interest free loans then you’re not very smart. There’s so many ways to get out of paying taxes legally.

    1. People have been asking for a flat tax for years. That means everyone pays their share.

    2. @blluedragonfly Actually a flat tax is regressive. It hits lower incomes harder due to fact that a given percentage of a person’s income is needed for basic things like food. A person who makes 100 times more than some else doesn’t eat 100 times more food. They don’t spend 100 times more on gas. Their insurance doesn’t cost 100 times more. The Republicans and the rich have pushed for a flat tax knowing that it benefits higher incomes like the 2017 tax cuts did.

    3. @daedalron evading tax is illegal, using the tax code to maximize your return isn’t evading tax.

    4. @T.A. ACKERMAN those hedge fund banksters should be taxed as income earned not capital gains. And guy like Bezos, who’s company Amazon pays little tax should have to pay 100% luxury tax on stuff like 500 million dollar yachts.

    1. Ya right….it definitely will NOT be used for that or else all of Biden’s corrupt cronies and yes men would be in big trouble.

    2. Why do you think the Republicans cut the money from the IRS fraud investigation branch in the first place?

  1. Jay Sekulow and Jim Jordan are always trying to take down the IRS to cover up for themselves and other repugnant thugs who don’t want to pay their fair share. Sekulows ties with SCOTUS will make it hard for the IRS to do anything.

    1. Tax the RICH Huh? There Taxing the RICH alright! They Artificially cause inflation to ad taxes to all the products we buy! Yet again SCREWING THE COMMON AMERICAN! Gas up 33% Wood 300% Food 31% Yeah they sure figured out how to screw us again by making the rich man pay! What’s that TRAVIS TRITT SONG SAY! The RICH MAN DANCES WHILE THE POOR MAN PAYS THE BAND! LORD HAVE MERCY ON THE WORKING MAN! He pays for everything!

    2. That’s right. The filthy rich got filthy rich by working WITH the existing tax laws to avoid paying taxes, legally. If Biden changes the tax laws, he can select a new group of winners and losers.

    3. The tax code is the responsibility of Congress. It is 80,000 pages long.
      The rich pay exactly what the code says, because the penalties are severe.
      The richer you are the more complicated your taxes are.
      Want to pay less taxes ?? Hire a smarter tax attorney.

  2. Back it up with minimum jail time with any a fence over $10,000. Lets make it 200 billion.

    1. I think you meant “offence”…but even $10K is nothing to owe. If your company doesn’t do your deductions correctly, you can owe more in a single year ( ex: commissions paid, but not taxed ).
      It’s for those who come up short, and continually owe.
      But yeah.
      Let’s say…over $50K.
      And have a cell mate who thinks they ” sure got a pretty mouth”.

  3. Fix the tax loop holes and the avoidance and leakage to off=shore tax havens. Could also increase tax on the billionaires.

    1. The Republican’s 2017 tax bill was supposed to close the tax loopholes but yet they’re still there.

  4. The IRS will not waste their time on people who owe less than 10.000 dollars . THE rich have been playing the system for decades to get these loop holes and corrupt congresspeople,

    1. The IRS goes after small money all the time. It’s easier than going after big money.

    2. As it stands right now, it’s actually the opposite. I got audited when I was making 20k.

    3. You don’t know what your talking about do you and they do target people that don’t go along with the left just ask the tea party

  5. For $100K you could restaff the IRS. Hire 1 good auditor/collector and have everything they collect go to hiring more IRS agents and the taxes they collect do the same until the department is fully staffed.

    1. Bring in the Cats to take out the Rats always ends up in “them” keeping the cheese for helping to “navigate” the horseho

    2. That’s an essential part. But $100K won’t get TWO people for a year. These aren’t part-timers at H&R Block you need .
      But, yeah. The Coast Guard turns a profit (fact check me). The IRS can do better.
      $80 billion over 10 is $8B/year, and you’d need…20(?) the first, and still have 7.3/year.
      But uts like the song
      My God, how the money rolls in!

    3. @Kevin Angus
      The fact that there is any government agency that’s not the IRS that turns a profit is concerning. No government agency should make money.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.