Quote from: The Pharmacist on August 16, 2022, 11:36:33 PM

Quote from: Hydrogen on August 16, 2022, 10:44:56 PM

Now it seems the current administration is devoting funds and manpower towards the task of modernizing the aging IRS system.

That shouldn't be surprising at all, given that the US is headed toward bankruptcy after decades of kicking the can down the road with respect to the debt it carries and all of the boneheaded decisions that were made since the banking/housing crisis of 2008.

They're hiring lots of new IRS agents (that's what I've heard), which tells me that they're either going to ramp up enforcement or increase their surveillance of US citizens--or both. The problem is that people who live in the US are already taxed to death, and on top of that prices of pretty much everything are skyrocketing.

The government needs to seriously trim the fat instead of bleeding its citizens, which I consider a legal form of robbery and I know I'm not alone. There's simply too much government and too much spending. But do you really think any of that's going to change with a democrat in office?

It is a fact that the United States government can spend a lot more when compared to the other countries. They can easily borrow $1 trillion or $2 trillion by selling the treasury bonds. The demand is so high, that the interest rates are in the vicinity of 1% to 1.5% per year. These are the advantages when the national currency is the trade and reserve currency of the world. The other countries don't have this luxury. If they want to take loans, they need to pay much higher interest rates. And the other national currencies are in much worse condition when compared to the USD.