The US Department of Finance published a report according to which one percent of the richest inhabitants of the United States dreamed of tax payments in the amount of $ 163 billion per year. If you do not take action, the misunderstanding will be seven trillion in the next 10 years, writes The New York Times.
US President Joe Bayiden fights unfair taxpayers and tries to close the “tax hole”. The authorities want to allocate 80 billion dollars for the US tax service. The purpose of the subsidies is to expand the staff of the staff to help track and stop the scheme, allowing not to pay in the treasury.
According to the author of the report of Natasha Sarin, so that the tax authority appropriately applied tax legislation against wealthy Americans, it needs to hire professionals who will be able to decipher thousands of complex tax declarations. In addition, the Office is necessary access to information on opaque sources of income that rich receives from business partnerships and private property.
Representatives of the republican party and business lobby skeptically reacted to this idea. In their opinion, measures to expand the authority of the tax service are the invasion of the privacy of citizens.
Biden wants to take a package of measures to support the economy in the amount of 3.5 trillion dollars. To implement this plan is expected due to increasing taxes for rich citizens and large enterprises. However, in the current tax legislation, the USA exists loopholes for the rich. Among them are private life insurance policies (Private Placement Life Insurance, or PPLI). The funds nested by the client are not taxed, and after the expiration of the contract or the occurrence of the insured event, the money is returned in full.