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What happened to this one (except never being any evidence of it existing)? Reality came knocking? Nah, it must be something else.
I think they anticipate civil unrest with the higher taxes.
No, they just anticipate higher levels of creative accounting among taxpayers to make up for the higher tax rates + inflation.
No, they just anticipate higher levels of creative accounting among taxpayers to make up for the higher tax rates + inflation.But they are well aware of creative accounting, in fact, it's a feature of their system, and completely legal if you can afford it.Most people in this country are honest, and hard working, and have a sense of civic duty. Given the huge tax bill they just passed under the guise of "reducing inflation", and the nature of the system, plus the huge ammo purchases by federal agencies over the years, the most likely explanation is war.
And as nominal incomes go up (even though real purchasing power stays the same) actual tax rates go up.
"Specifically, I direct that any additional resources—including any new personnel or auditors that are hired—shall not be used to increase the share of small business or households below the $400,000 threshold that are audited relative to historical levels," Yellen wrote in the letter to Rettig. "