The White House didn't agree, it saved the country from default.
For every dollar the IRS spends to collect taxes, there is at least a dollar returned until one gets to the upper 90 percentile of income, the return then becomes $2 to $6 return on every dollar spent.
The upper 90 percent are the cronies to the Republicans. The Republicans defunded the IRS and the USA Treasury is diminished with income and increases the deficit. That's right, the Republicans did not decrease the deficit, they increased it.
By Catherine Rampell and Youyou Zhou
The White House and Congress (click here) recently agreed to claw back more than $20 billion earmarked for the Internal Revenue Service. This deal was, ostensibly, part of a grand bargain to reduce budget deficits.
Unfortunately, it’s likely to have the opposite effect. Every dollar available for auditing taxpayers generates many times that amount for government coffers — and the rate of return is especially astonishing for audits of the wealthiest Americans, according to new research shared exclusively with The Post.
The White House and Congress (click here) recently agreed to claw back more than $20 billion earmarked for the Internal Revenue Service. This deal was, ostensibly, part of a grand bargain to reduce budget deficits.
Unfortunately, it’s likely to have the opposite effect. Every dollar available for auditing taxpayers generates many times that amount for government coffers — and the rate of return is especially astonishing for audits of the wealthiest Americans, according to new research shared exclusively with The Post.
A team of researchers at Harvard University, the University of Sydney and the Treasury Department examined internal IRS data for approximately 710,000 in-person audits from 2010 to 2014....
