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How The IRS Works

The Internal Revenue Service brings in approximately 96% of the federal government’s funding every year. In fiscal year 2021 alone, the IRS collected $4.1 trillion dollars in gross taxes. But funding for the agency declined by more than 20% between 2010 through 2019 when adjusted for inflation. This budget squeeze corresponded with a decline in tax audit rates across all income brackets, with the highest earners seeing the largest percent change. In August 2022, President Biden signed the Inflation Reduction Act into law, which set aside nearly $80 billion for the IRS to be used over the next 10 years. Watch the video above to learn more about how the IRS works and how budget cuts have affected the agency.
Chapters:
00:00 Introduction
01:44 How the IRS works
03:23 Funding
07:16 Decline in audits
Produced by: Charlotte Morabito
Additional Reporting by: Kate Dore, Robert Frank
Additional Camera by: Andrea Miller
Edited by: Dain Evans, Nic Golden Henr ....

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Minerals, Mining and Industrial Ecology - Mining - Oil Price Community


.and judging by the unprecedented flows into the Silver ETF (SLV) they just got started.
SLV saw inflows of almost one billion dollars on Friday, almost double the previous record inflow for this 15 year-old ETF.
Source: Bloomberg
.
the worlds biggest short squeeze is possible and we can make history.
TheHappyHawaiian cites two reasons to buy - The Short Squeeze and Fundamentals.
The short squeeze:
Buy SLV shares (or PSLV shares) and SLV call options to force physical delivery of silver to the SLV vaults.
The silver futures market has oscillated between having roughly 100-1 and 500-1 ratio of paper traded silver to physical silver, but lets call it 250-1 for now. This means that for every 250 ounces in open interest in the futures market, only 1 actually gets delivered. Most traders would rather settle with cash rather than take delivery of thousands of ounces of silver and have to figure out to store and transport it in the future. ....

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