
Happy Hunger Games! And May the Odds Be Ever in Your Favor...If You're Rich!
Well folks looks like the odds are shifting faster than Peeta baking bread for the Capitol. Word on the street – or you know CNBC – is that the IRS is facing some serious…challenges. Seems like those shiny new hires they got with that Congressional cash? Gone. Poof. Like a mockingjay disappearing into the woods. Apparently some bright eyed newbie named Wesley Stanovsek who was all set to dig into the tax returns of the ridiculously wealthy got the axe. Along with a bunch of others. So much for 'taxing the rich,' huh? Feels like someone just threw the Capitol a giant pile of money and said 'Have fun!'
When the Cat's Away the Mice Will Play...Tax Shelters That Is
Now I'm no tax expert – my expertise lies more in say not starving to death and outsmarting tyrannical regimes – but even I can see this ain't good. Less IRS staff means less auditing. And less auditing means…well let's just say those who have a lot might be tempted to…bend the rules a little. Or a lot. They're talking about fancy tax shelters making a comeback just like after those budget cuts back in the late 90s. Makes you wonder doesn't it? Is this just another way the Capitol – I mean the ultra wealthy – rig the game in their favor?
Zombie Apocalypse at the IRS: Brains? We Don't Need No Stinking Brains!
One tax attorney even called the IRS a “zombie.” A zombie! Honestly that's insulting…to zombies. At least they have the motivation to chase after…brains. Apparently cases are being dropped audits are going dark and some folks are even asking if they need to bother filing taxes at all. (Spoiler alert: you still do. Don't be like those Careers thinking they can just waltz through the arena without a plan.) But seriously when the professionals start calling it a zombie that's when you know there's a problem.
The Missing Millions: Is This the New District 13?
The numbers are staggering. A Yale study says we could lose $160 billion in tax revenue. Others say it's closer to $500 billion this year alone. That's enough to feed a lot of hungry people in District 12…or you know rebuild an entire society from scratch. All those tax cases that those fired agents were working on? Some involved over $150 million in potentially unpaid taxes. Gone. Up in smoke. Vanished faster than Prim's goat cheese. Makes you think: where's all that money going huh?
AI to the Rescue? Or Just Another Tracker Jacker Swarm?
Of course the Treasury Secretary is all sunshine and rainbows saying AI will save the day. “Oh AI will do a better job,” they say. Right. Because algorithms have the nuanced understanding to sort through the complicated tax structures of the super rich. Sounds like someone’s been spending too much time in the Capitol. It's like expecting a drone to understand the complexities of a mockingjay's song.
Can't Talk to a Computer: The Future of Tax Audits
Apparently these AI audits are already happening and they're a mixed bag. Good at finding potential problems but not so good at…you know…understanding them. One lawyer said you can't reason with a computer. Truer words were never spoken. Try explaining the injustice of the Hunger Games to a Peacekeeper. You'll get about the same reaction. So what's the takeaway? The IRS is understaffed underfunded and relying on robots to pick up the slack. Sounds like a perfect storm for the wealthy to get away with…well whatever they want. Guess we'll just have to wait and see if this new 'game' is truly rigged from the start.
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