The end of fair taxation. Why do we regret gutting the IRS?

Most of us have not paid attention to this month’s revelation that we have admitted to the conspiracy of Mega-rich Americans, one of the Credit Suisse, one of the Credit Suisse, one of the world’s largest banks, and have allowed us to avoid billions of taxes. The bank has paid more than $510 million in fines and admitted its staff helped its staff hide more than $4 billion from the IRS on 475 secret offshore accounts.

Pouring salt into the wounds of the bank’s latest acknowledged crime is that this was all done after Credit Suisse pleaded guilty to the exact same crime in 2014 and vowed not to do it again. At the time, they admitted that they had hidden $12 billion, owned by 22,000 Americans. In part, our country suffers from an overwhelming deficit as it pays only a small portion of their fair share with the help of dirty banks and other benefits.

I would like to say that Credit Suisse’s disgusting behavior is abnormal, but in reality it is a common practice for many of the wealthiest bankers in the world. More than 120 banks have either pleaded guilty to US accusations or have publicly admitted to committing criminal offences in connection with promoting illegal transactions on behalf of very wealthy US clients. That is, thousands of asset management experts are involved in these schemes, and according to judicial agreements and other appeals, it is the standard operating procedure for each bank, collectively leading to hundreds of billions of evasion taxes.

I used to work in the IRS criminal department, so when I hear “IRS,” I know it’s a natural response to Cringe. However, the agency’s employees have significantly increased revenue in our country than the cost of operating the agency as a whole. IRS refunds may seem popular, but they don’t make any sense financially. The views of the Budget Lab, the Center for Non-Participation Policy Research, support that view. They predict that a lack of IRS resources is likely to lead to a significant increase in our Treasury violations and loss of revenue, costing the country $2.4 trillion in tax revenue over a decade.

Doge cuts $2.5 billion from the 2026 IRS budget. These cuts are tasked with chasing wealthy tax cheats with revenue agents falling by 31%. Approximately 7,000 IRS employees have been fired, with plans to cut another 11,000. Immensely, the $1.5 billion Doge’s IRS cut is due to plans to modernize the IRS system, allowing agents to provide better service otherwise. Therefore, the current insane plan is to significantly reduce employees and services, so you can not only lose massive revenue, but also triple your complaints and expect to get answers and fair results from your agency.

Just as it destined for the benefits of a more efficient IRS, as if it wasn’t enough to cut employees and resources, former US Rep. Billy Long from Missouri, a candidate for IRS commission, supported the bill to eliminate the IRS while serving in Congress. The senator also raised questions about Long’s recent private sector career. They claim they have involved his referrals in a tax promoter who sold fake tax credits. I predict he will throw an anchor to an IRS employee who owns within an agency set up for failure.

According to the Tax Policy Center, a non-partisan research organisation that provides an analysis of tax policy issues, “Big Beautiful Building” is primarily a huge, abundant gift that hides a portion of its property with the help of dirty banks, to make the IRS narrative for everyday people more unbearable. 60% of the “big beautiful” tax cuts go to the top 20% of households, with over half of them going to those who make more than $460,000 each year. The loss of income in our country caused by these tax credits for the ultra-rich people adds trillions to the country’s deficits, so the grandchildren of low- and middle-class households can suffer economically forever.

Ultimately, Megarich has an army of offshore bankers, lawyers and financial service providers, surrounded by a dramatically understaffed, unmanaged and underfunded IRS, but most Americans are drowned in debt, recession and worsening. The bottom row holds the bag because there is no real accountability imposed on the ultra-rich people by the professionally managed IRS focused on prosecuting mega-tax cheats.

Robert Mazur, a federal agent for 27 years, is a court-certified expert in money laundering-related issues in both the US and Canada. He is a New York Times bestselling author of The Infiltrator, a memoir about the first half of his life as a money launderer within Pablo Escobar’s Medellin Cartel. During that mission, he also infiltrated Credit Commerce International Bank, an international bank that exists in 72 countries. His work exposed the BCCI conspiracy, escheming with account owners to avoid taxes, wash out drug money, and hide the property of leaders of corrupt nations. His new book, The Betrayal, is a memoir of his last secret investigation, a deep dive into the Carricartel in Colombia and the underworld in Panama.