IRS to Boost Audits of Wealthy Taxpayers

[applegrove]

IRS to Boost Audits of Wealthy Taxpayers

May 2, 2024 at 2:50 pm EDT By Taegan Goddard 47 Comments

https://politicalwire.com/2024/05/02/irs-to-boost-audits-of-wealthy-taxpayers/

"SNIP.........

“The Internal Revenue Service detailed its plans Thursday to significantly ramp up audit rates of wealthy taxpayers and large corporations, using funds provided by the Democrat-backed Inflation Reduction Act that passed in 2022,” CNN reports.

“The audit rate of taxpayers earning more than $10 million is expected to increase by 50%, going up from 11% in 2019 to 16.5% in 2026.”

..........SNIP"

[Fla Dem]

1. Let's start with the American oil tycoon colluding with OPEC to raise oil prices.

This was just posted by IronLionZion

American oil tycoon accused of trying to conspire with OPEC to inflate prices
https://democraticunderground.com/100218915835

[applegrove]

2. Why do US oil prices rise with OPEC anyway? They are a cartel.

[Fla Dem]

3. This article may give you some insight into the global oil market.

OPEC vs. the US: Who Controls Oil Prices?
By RAKESH SHARMA Updated August 02, 2023
Reviewed by JULIUS MANSA
Fact checked by MICHAEL LOGAN

Crude oil is the most valuable commodity by trading turnover and one of the most widely used. In a world with many consumers and producers, a single country or organization can no longer "control" crude oil prices set in highly liquid global markets.

But that wasn't always the case. The Organization of the Petroleum Exporting Countries (OPEC) was created in 1960 to protect the interests of Mideast crude exporters in a market dominated--and fixed--by the U.S., at the time the world's largest consumer and producer.

More~~~~~~~~
https://www.investopedia.com/articles/investing/081315/opec-vs-us-who-controls-oil-prices.asp