The Last Tax Story of the Year
Apr 20th, 2008 by Carlos
From me anyway.
The Washington Post has a story that’ll make you sigh and think to yourself, “What the hell?”
It’s all about the IRS and how they hire private debt collectors to go after the $1 billion dollars in taxes has gone goes unpaid since 1996.
Unpaid taxes: $1 billion
Money collected: $49 million
Cost to run the program: Around $86 million
Collector’s Cut: 24%
None of that makes any sense, but I guess the collectors have close ties in Washington, so there you go.
This reminds me of a neat story in the New Yorker about how the Mint loses money every time it makes a penny and a dime.
Only in America!
