IRS Staff Cuts Threaten High-Value Tax Audits of Wealthy Americans
Recent mass terminations of over 6,000 IRS employees have severely impacted the agency's ability to pursue tax audits of wealthy individuals and corporations. The loss of specialized expertise, particularly in the Large Business & International Division, threatens to derail ongoing high-value enforcement cases.
Half of Millennials Rely on Tax Refunds for Basic Living Expenses
A Credit Karma survey reveals 50% of millennials depend on tax refunds to cover monthly expenses, compared to 37% of all taxpayers. The concerning trend highlights growing financial pressures on young adults, with many willing to pay fees for early refund access.
Wall Street Billionaires Exploit Medicare Tax Loophole, Paying Zero While Workers Pay Full Share
While average Americans contribute to Medicare through mandatory payroll taxes, wealthy Wall Street executives like Steve Cohen and Stephen Schwarzman have found ways to completely avoid these payments. The controversial tax strategy highlights growing inequities between working-class obligations and billionaire exemptions in America's healthcare funding system.