Talking Points: July 13, 2020

 July 13, 2020

If it meant never having to send another penny to the IRS, 27% of Americans would get the letters “IRS” tattooed on their body, while 8% would name their first-born child “Taxes.” WalletHub, March 10, 2020

In the U.S., an estimated 1 million animals become roadkill each day. The recent stay-at-home orders have led to an immediate reduction in some states: for example, during the four-week stay-at-home order, researchers documented a 21% decline in California, a 38% reduction in Idaho, and a 44% reduction in Maine.  The Atlantic, July 6, 2020

Electronic gadgets fuel economic growth across the world but they have a short lifespan. The amount of global e-waste has increased 21% over the last five years, reaching 54 million tons, which is the same amount of weight as 350 cruise ships the size of the Queen Mary 2. Fast Company, July 2, 2020

“As the national income grows, the federal government will ultimately end up with more revenues. Prosperity is the real way to balance our budget. By lowering tax rates, by increasing jobs and income, we can expand tax revenues and finally bring our budget into balance.” President John F. Kennedy

The IRS audited just 0.59% of individual tax returns last year, the seventh consecutive decline amid budget and staffing cuts at the agency. The Wall Street Journal, May 20, 2020

In 1973, Elvis Presley was the top taxpayer in the country. His manager, Colonel Parker, was in the U.S. illegally and went to great lengths to stay off the government’s radar, including allegedly, encouraging Elvis to overpay his taxes in order to not attract additional government scrutiny. It is reported that one year Elvis paid 91% of his income to the IRS. Legacy.com
In 1956, Colonel Parker negotiated with 20th Century-Fox for Elvis Presley’s screen debut, Love Me Tender.  The studio executives reportedly balked on paying Presley big dollars. Finally, they asked, “Would $25,000 be all right?” Parker replied: “That’s fine for me. Now, how about the boy?”
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