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While reducing the number of tax fraudsters in the United States is a worthy aim, more rigorous enforcement might have unintended consequences.
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The federal tax system is extremely "progressive" or graduated, meaning that top earnings pay substantially higher tax rates than those in the middle or at the bottom, according to all standard data sources.
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If Congress restrains its spending appetite, this is good news as it will reduce the government’s dangerously high budget deficits.
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As part of his $1.9 trillion relief plan, President Joe Biden proposes to double the federal minimum wage from $7.25 per hour to $15 per hour.