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Showing posts with label audits. Show all posts
Showing posts with label audits. Show all posts

Friday, August 5, 2022

The IRS Will Target You Next



So you think the IRS was weaponized under the Obama administration (think Lois Lerner)?  Thomas Gallatin at Patriot Post has more bad news for you:

Democrats aim to supercharge the agency
 to hit up the middle class for more tax revenue

Democrats are one vote away from weaponizing the Internal Revenue Service against the American middle class. With Joe Manchin doing an about-face on his opposition to Joe Biden’s Build Back Better spending binge, now reduced in scope and dubiously called the Inflation Reduction Act, the IRS is on the cusp of a windfall to the tune of $80 billion.

To put that in perspective, the IRS’s annual budget is $12.6 billion. The additional $80 billion would be spread out over the next nine years, with the predictable Washington selling point that this IRS “investment” will reap a projected $200 billion in additional tax revenue thanks to more accurate tax collection.

And where will the lion’s share of this “lost” tax revenue come from? Despite the Democrats’ favorite talking point of making the wealthy pay their “fair share,” the vast majority of the collected tax revenue will come from hard-working middle-class Americans. . . .

Read the rest here.

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