Former presidential candidate, Secretary of State and First Lady Hillary Clinton is amplifying a MarketWatch article titled, ‘IRS Collects More Than $550 Million In Back Taxes From Delinquent Millionaires.’
Clinton (who according to Nasdaq is worth, with her husband, $120 million) writes: “The IRS has collected half a billion dollars from millionaires who owed back taxes. It’s good news for those of us who want to see everyone pay their fair share!”
The IRS has collected half a billion dollars from millionaires who owed back taxes.
— Hillary Clinton (@HillaryClinton) January 17, 2024
It's good news for those of us who want to see everyone pay their fair share! https://t.co/675x3FwTSO
President Biden’s Inflation Reduction Act of 2022 authorized $80 billion to the IRS (over a decade) to push “tougher IRS enforcement on businesses and super wealthy tax delinquents and dodgers.”
IRS Commissioner Danny Werfel said on Thursday: “We are seeing significant early indicators that our increased scrutiny … is having immediate impact.” While income-tax-filing season begins January 29, IRS funding could come to an abrupt stop on February 2 if Republican and Democrat legislators in D.C. can’t agree on a new spending deal and shut down the government.
[Werfel noted that a government shutdown has never occurred during a tax-filing season.]
Note: When running for President in 2016, Hillary Clinton revealed her 2015 tax returns. She and her husband, former President Bill Clinton, claimed a total income of $10.7 million and paid $3.6 million in federal taxes.
According to Time, Clinton “paid a federal tax rate of 34.2% and a New York state rate of 9% for a total effective tax rate of 43.2%. Her tax rate has been above 40% every year since she left the state department in 2013.” Her GOP opponent, Donald Trump, did not reveal his tax returns.
