"If you think of a middle-aged professional couple living in, say, New York City or San Francisco, each making about $200,000 a year, filing a joint tax return, already in a high bracket, paying through the nose for rent or maintenance or a mortgage, you’re probably not going to describe their lifestyle as “rich.” They’re scrimping to send their kids to college, driving a Camry, if they have a car at all, and wondering why eggs have gotten so damned expensive."First, this shows just how out of touch you are, Bret.  No further comment needed on that point.Second, so your logic is, if those making over $400K are impacted by inflation, then they should be allowed to cheat on their income taxes, without fear of being audited?  That makes no sense whatsoever.  Sure, being audited is inconvenient, but if your returns are on the up-and-up, what's to worry about?  Audits should be targeted to those who have the most opportunity to cheat.  Lower income folks by and large get paid by W2's with taxes withheld.  Not much opportunity to cheat there.  But those who get income from self-employment, from pass through entities , etc. have a much greater opportunity to cheat.  And, playing with much larger dollar amounts, also perhaps a greater temptation to cheat.

"If you think of a middle-aged professional couple living in, say, New York City or San Francisco, each making about $200,000 a year, filing a joint tax return, already in a high bracket, paying through the nose for rent or maintenance or a mortgage, you’re probably not going to describe their lifestyle as “rich.” They’re scrimping to send their kids to college, driving a Camry, if they have a car at all, and wondering why eggs have gotten so damned expensive."First, this shows just how out of touch you are, Bret.  No further comment needed on that point.Second, so your logic is, if those making over $400K are impacted by inflation, then they should be allowed to cheat on their income taxes, without fear of being audited?  That makes no sense whatsoever.  Sure, being audited is inconvenient, but if your returns are on the up-and-up, what's to worry about?  Audits should be targeted to those who have the most opportunity to cheat.  Lower income folks by and large get paid by W2's with taxes withheld.  Not much opportunity to cheat there.  But those who get income from self-employment, from pass through entities , etc. have a much greater opportunity to cheat.  And, playing with much larger dollar amounts, also perhaps a greater temptation to cheat.

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