The main purpose is to increase enforcement as the IRS will now be gifted with funds for “litigation,” “criminal investigations,” “investigative technology,” “digital asset monitoring” and a new fleet of tax-collector cars.
Who will be the subject of that enforcement? "The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78% to 90% of the money raised from under-reported income would likely come from those making less than $200,000 a year. Only 4% to 9% would come from those making more than $500,000."
The people who make less than $200,000 don't have funds to fight the IRS so they will just fold.
Brought to you by your local Democrats!
Replies to: "The current IRS budget is $13B. The Manchin-Schumer bill adds $80B to it. Serious."
- The current IRS budget is $13B. The Manchin-Schumer bill adds $80B to it. Serious. - Cole - 7:57am 8/4/22
(7) [View All]
- Hey bub- do you have a problem paying your fair share (as determined by Conor & his ilk)? [NT]
- LanceManion - 8:36am 8/4/22
- Nope, but I have a radical idea to increase tax compliance. Just simplify the code. [NT]
- Cole - 8:48am 8/4/22
- the amazing part is that once again the government is using tax incentives and rebates to pick the - WestCoastIrishFan - 8:50am 8/4/22
- Nope, but I have a radical idea to increase tax compliance. Just simplify the code. [NT]
- Cole - 8:48am 8/4/22
- and, remember, IRS enforcement helps pay for the bill circulating, so it's on the hook for recoverin - WestCoastIrishFan - 8:23am 8/4/22
- And remember about half of the US population pays zero Federal Income Tax - Shadow_of_the_Dome - 8:21am 8/4/22
- Bingo! They are coming after us poor slobs not the 1% [NT]
- lmcdonald - 8:09am 8/4/22
- Nor for the bottom 51% [NT] - Curly1918 - 8:24am 8/4/22
- Hey bub- do you have a problem paying your fair share (as determined by Conor & his ilk)? [NT]
- LanceManion - 8:36am 8/4/22