How IRS Underfunding Creates a Wealth Tax Gap

The IRS has lost over 20 percent of its enforcement staff since 2010, and that shortage overwhelmingly benefits the wealthy. In this episode, Lucas and Luna examine why audit rates for people making over $1 million dropped by 80 percent from 2011 to 2019, why working-class filers are now audited at roughly the same rate as the richest one percent, and how the Inflation Reduction Act's $80 billion in new IRS funding was mostly clawed back. They drill into the specific numbers: the $600 billion annual tax gap, the 15 percent audit rate on the richest 0.1 percent in 2010 versus 2.4 percent today, and what the new funding could actually restore if it survives. A focused look at how enforcement cuts become an invisible tax cut for those who can afford sophisticated avoidance. #IRS #TaxGap #WealthInequality #AuditRates #InflationReductionAct #TaxEnforcement #WealthyTaxAvoidance #InternalRevenueService #TaxCompliance #FiscalPolicy #Economics #InequalityConversations #FexingoBusiness #BusinessPodcast #WealthGap #TaxJustice #GovernmentFunding #TaxEvasion Keep every episode free: buymeacoffee.com/fexingo