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U.S. back taxes enough to erase deficit [View All]

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lovuian Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-01-06 06:06 PM
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U.S. back taxes enough to erase deficit
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http://feeds.bignewsnetwork.com/?sid=083b880e712c7c36

The U.S. government is stepping up efforts to recover delinquent taxes, as the amount has reached a point where it could pay off the deficit.

An Internal Revenue Service report took data from 2001 through the current year, showing as much as $400 billion will be uncollected, which would more than cover the Congressional Budget Office's $360 billion deficit estimate for 2006.

Because the IRS says every dollar spent going after tax cheaters brings in about $4 in revenue, President Bush wants a 2 percent increase in IRS enforcement funds next year.

Some key members of Congress want to go further, USA Today reported. Senate Budget Committee Chairman Judd Gregg, R-N.H., has raised the possibility of doubling the president's proposed increase.
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? why have they gone uncollected???
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