Richest Americans fail to pay $163 billion in taxes, Treasury estimates

Contributing sentiments towards policy:

50% : The Biden administration is pushing to raise the IRS budget by $80 billion over 10 years to help increase enforcement, IT and taxpayer services.
47% : It has also proposed more third-party reporting by financial institutions, so the IRS can better target sophisticated tax evasion, which Sarin said Wednesday would help generate an estimated $1.6 billion in additional revenue just from collecting taxes that are already due.
44% : But increasing funding to the agency responsible for tax collection as well as changing the tax code to increase taxes on the wealthiest Americans and corporations faces significant challenges.
42% : The top 1% of Americans are avoiding paying an estimated $163 billion in taxes a year, according to the Treasury Department.
39% : According to the Treasury Department, the IRS is unable to collect about 15% of taxes owed and the lack of resources has led to a fall in audit rates.

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