Obama IRS Audits Millionaires Far More Than Bush IRS

[NNN0LHI]

http://www.chicagotribune.com/business/breaking/chi-irs-audits-1-in-8-millionaires-20120106,0,5356600.story

IRS audits 1 in 8 millionaires

From CNN

6:31 a.m. CST, January 6, 2012

The IRS audited one out of every 8 millionaires last year, the third year in a row the agency has ramped up its enforcement of the nation's top earners.

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http://www.good.is/post/obama-irs-audits-millionaires-far-more-than-bush-irs/

April 25, 2011 • 4:30 pm PDT

In March 2009, a New York Times article noted that the IRS audited only about four of every 100 millionaires in the year 2008—this was despite the fact that there were more millionaires than ever that year. Three years and a different president later, that's changed quite a bit.

[tblue]

1. Good! That's where the money is.

I got audited once when I made $13K. Craziness.

[kestrel91316]

2. I got blessed with a 3-yr retrograde audit when I didn't even make that much.

It was 5 or 6 years ago, and covered I think 2001, 2002, 2003. I had an inheritance and invested a lot of it in my business. IRS couldn't figure out how I was living on so little money, and basically tried to disallow 100% of the expenses in running my veterinary hospital.

After a whole big brouhaha and a huge expenditure on their part (staff time and energy) they found basically nothing amiss. I had an error in how I accounted for credit card interest that cost me $1000. They had egg on their faces.

IMHO I was targeted on some list because I was so vocally anti-Bush. I knew lots of other cash-poor liberals that got audited the same time.

ETA: The IRS agent who came to my office to audit kept shaking his head and asking why they were auditing me, and basically left apologizing.

[banned from Kos]

3. double the number in the Bush years - despite fewer millionaires.

very good.

[Whisp]

4. of course Obama is going to slip that extra cash in his own pockets

then give it to Goldman Sachs so they can give it back to him for setting up the Consumer Protection Bureau and Dodd/Frank!

just thought I'd get the jump on this.

[banned from Kos]

5. Of course! Obama is the great grandson of J Pierpont Morgan! He is a plant from the 1920s

sent here to pull the guts out of everyone in the working class on behalf of the banksters!

[Whisp]

6. and don't forget his mother, Stanley, was a 'banker'.

I kid you not, I heard it here! wish I kept it

[Dewey Finn]

8. I think you must mean

"bankster"?

[FrenchieCat]

9. That was his Grandmother.....

His mother was a Feminist pioneer!

[Whisp]

10. his mom was involved in microcredit

in poverty stricken villages in Indonesia.

how's that for an evil banker?

[Scurrilous]

7. Good. n/t

[MineralMan]

11. Thanks, Mr. President!

That's a smart move, I think.

[great white snark]

12. Status quo! Just more of the same!

Wonder how FDL will spin this. "Seven out of every eight millionaires not audited under Obama."