The current IRS budget is $13B. The Manchin-Schumer bill adds $80B to it. Serious.
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.
Hey bub- do you have a problem paying your fair share (as determined by Conor & his ilk)?
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Nope, but I have a radical idea to increase tax compliance. Just simplify the code.
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the amazing part is that once again the government is using tax incentives and rebates to pick the
winners and losers. Surprise, surprise...mixed fuel cars now get big subsidies. Hello GM, we're going to take care of you.
and, remember, IRS enforcement helps pay for the bill circulating, so it's on the hook for recoverin
g far more than $80B per year.
And remember about half of the US population pays zero Federal Income Tax
So this is really targeted at middle class and upper middle class.
Bingo! They are coming after us poor slobs not the 1%
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Nor for the bottom 51%
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