Over the past 30 years, like regulatory enforcement, tax enforcement against the wealthiest corporations and individuals has declined by design in most of the developed world. Canada remains a world-famous haven of tolerance for big tax avoiders, see: CRA has found 35 cases of tax dodging in The Panama Papers leak, 5 years later:
Five years after one of the world’s biggest leaks of financial records exposed the tax-haven dealings of politicians, athletes, celebrities and mobsters, the Canada Revenue Agency has found missing money in 35 of the hundreds of Canadian cases it has analyzed.
The agency hasn’t gotten a single criminal charge filed against anyone as a result of the Panama Papers.
Other countries have, however, filed tax-evasion charges, secured convictions and recouped hundreds of millions of dollars in taxes from information found in the Panama Papers.
Collecting what’s lawfully owed is an obvious area to invest government resources for much-needed ‘yield’ today. The video exchange below highlights the issues well.
I’m introducing another bill for dedicated, mandatory funding for the IRS to enforce the tax laws already on the books for the ultra-rich and giant corporations. The IRS should have more resources to do its job and make the wealthy pay their fair share. pic.twitter.com/0TmKEDglsY
— Elizabeth Warren (@SenWarren) April 27, 2021
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