Joe Biden is about to give the IRS one order that will terrify every American
No one likes dealing with the IRS.
But it’s about to become unavoidable.
And that’s because Joe Biden is about to give the IRS one order that will terrify every American.
Senate Democrats came to an agreement on a massive power grab that imposes over $700 billion in job-killing, economy-crushing tax increases.
Every American will feel the pinch as their taxes go up.
Raising taxes on every income group violates Joe Biden’s promise that no American making less than $400,000 per year would see a tax hike.
But that isn’t even the worst attempt to soak the American people to pay for Joe Biden’s Green New Deal boondoggle.
The bill includes $124 billion for the Biden administration to hire 87,000 new IRS agents.
These new tax collectors will pour through returns and turn the screws on Americans who they claim shortchanged the government.
But these audits are likely to hit low-income Americans more severely.
Fox News reports:
That’s because the IRS disproportionately targets low-income Americans when it conducts tax audits each year. In fact, households with less than $25,000 in earnings are five times as likely to be audited by the agency than everyone else, according to a recent analysis of tax data from fiscal year 2021 by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University.
The reason for that is a rise in what is known as “correspondence audits,” meaning the IRS conducts reviews of tax returns via letters or phone calls rather than more complex face-to-face audits. Just a fraction — 100,000 of the 659,000 audits in 2021 – were conducted in person.
According to the Syracuse study, more than half of the correspondence audits initiated by the IRS last year — 54% — involved low-income workers with gross receipts of less than $25,000 who claimed the earned income tax credit, an anti-poverty measure.
Democrats know if they taxed every billionaire 100 percent of their income, they could only run the government for a short time.
The real money always resides in the middle class of which tens of millions of Americans belong to.
Raising taxes on the middle class is horribly unpopular.
So to get around proposing politically unpopular tax hikes on the middle class, the Biden administration will unleash 87,000 new IRS agents to shake them down with audits.