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Dear John,
We need a strong IRS to go after America’s real freeloaders: the super rich.
America lost $688 billion in unpaid taxes in 2021 -- the lion’s share from the richest 1%. These lost taxes alone could have wiped out half of last year’s deficit.
Yet Republicans keep trying to defund the IRS, claiming their cuts would reduce the deficit. That’s bunk! Every $1 spent auditing the wealthiest tax cheats brings in roughly $12.
Check out our video to find out just how badly the super rich are gaming the system -- and why we need a strong IRS to enforce the laws.
The good news: President Biden has our back. His Inflation Reduction Act included an $80 billion boost for the historically underfunded IRS.
This has enabled the IRS to go after wealthy individuals and corporations that skirt what they owe, like Microsoft, which the IRS audited and hit with $29 billion in back taxes.
But IRS funding doesn’t just help catch rich tax cheats. As I explain in our video, it helps every taxpayer. Additional funding has helped the agency improve its technology to cut customer service wait times and get refund checks out faster.
We can’t let Republicans defund the only tax sheriff in town. Urge your representatives to protect the IRS, and share this video with your friends!
Thank you for fighting for economic justice!
Robert Reich
Inequality Media Civic Action
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