Elizabeth Warren says the ultra-rich should be audited every 3 years

Felipe Castro holds a sign advertising a tax preparation office for people that still need help completing their taxes before the Internal Revenue Service deadline on April 14, 2010 in Miami, Florida.
Joe Raedle/Getty Images
US Sen. Elizabeth Warren wants to double the IRS budget, she told Bloomberg on Tuesday.
The money would pay for increased auditing of the ultra-rich, she said.
"The audit rate of the top one tenth of 1%... will be 30%. That means every three years, in effect," Warren said.