Posted on 08/03/2022 4:40:58 PM PDT by Libloather
The Inflation Reduction Act of 2022 appears to have a good shot at being signed into law. If Senate Democrats can get Sen. Kyrsten Sinema (D-AZ) to join Sen. Joe Manchin (D-WV), the bill will have the necessary 50 votes to pass through the reconciliation process.
Let's hope that never happens. The plan would hurt working-class taxpayers and small-business owners across America. The act will introduce a "corporate alternative minimum tax," which will compel a 15% tax on corporate income. It will increase the taxes imposed on certain high-income earners. Finally, it will step up enforcement mechanisms within the IRS.
While most people rightfully do not want to see tax hikes during a recession, few realize the negative impact expanded enforcement would have. The White House said it intends to make the "top 1%" pay for expanded government programs. But expanding IRS enforcement won’t affect just the wealthy. Instead, it’ll just end up hurting the middle class.
The additional funding for the IRS adds up to $80 billion over the next decade — essentially doubling the size of Uncle Sam’s debt collector and putting 87,000 new IRS agents into action. The result will be increased audits on small businesses and middle-class taxpayers across the country. While there are over 600,000 audits annually, which disproportionately affect low-income earners, under the new beefed-up enforcement plan, the IRS will be able to perform 1.2 million additional audits. Surely those million-plus audits won’t just be billionaires!
This massive investment in enforcement infrastructure comes at a time when even getting in contact with the IRS can seem daunting. According to the IRS itself, the agency only answered roughly 10% of all phone calls received during the previous tax year.
Nor is stepped-up enforcement likely to raise the $700 billion projected. Nor is it likely to...
(Excerpt) Read more at msn.com ...
It’s going to be called the Lois Lerner Enforcement Act
it’ll just end up hurting the middle class.
______________________________________________
That’s the plan.
One or two people can handle the billionaire files.
They definitely aren’t after the billionaires.
Do everything in cash only.
Also why do they need more ammo? Millions of rounds of .45?
“How many audits do you plan to conduct?”
“I dunno — how many Republicans are there?”
It will be twice as useless
Buying a home safe tomorrow.
It’s funny-ammo for the IRS. There are enough people who pay no taxes so it won’t matter to them. Will they feel sorry for those who have more?
Do everything in cash only.
Biden plans to do away with cash and have spyware Biden Digital Bucks
87,000 new IRS agents into action
Probably going to hire illegal aliens to save expenses.
“He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance”
.45? Weird. I would have thought 9mm or .40
Guaranteed they will politically weaponize it more than it is now.
They are going to be all over small businesses.
I have never had positive interactions with the IRS. Incompetence is routine and appears to be encouraged.
My SS# was used by an illegal and they tried to make me pay taxes on their income.
They transposed the digits of my newborn’s SS# in their computer system the first time we claimed her as a dependent and she was 5 when we finally got the help of a US Senator to make them fix it (and they levied fines and additional taxes for those five years because we “lied” about the number of dependents. Every year I would include a copy of her birth cert and SS card with an explanation regarding the transposed digits and it did no effing good. It was very Kafka-esque.
WTF makes this stupid shithead writer think that the stupid federal IRS is sovereign? Unelected federal bureaucracies are not sovereigns.
States are sovereign and can tell the gestapo IRS to GFY. How is that done? The state says to the IRS: GFY.
Now, I know that such an attitude will piss off the Soros trolls and the FR monkey-face doom and gloom assholes. So what! FU.
If we want to take back the country from the criminal, fascist syndicate occupying Washington DC, the correct response to them is: FU.
You want obedience - FU.
You want our money - FU.
You want our property - FU.
Just run down the list of what these fascists want and answer - FU.
You should have bought a safe several years ago, I did and it’s full of insurance papers and a few other things. Roll Tide!
It is time to move to free country.
Unless they have smgs in 45, I’ll assume they are buying it for another agency or to keep it scarce on the market.
They probably use 9mm or .40, as you suggested
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.