Posted on 08/04/2022 4:25:19 AM PDT by MtnClimber
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” -Vladimir Ilich Lenin.
Just how bad is the Biden administration and Democrat Congress's grossly misnamed "Inflation Reduction Act" of 2022?
The Wall Street Journal has a shocking lead editorial titled "The IRS is About to Go Beast Mode" about the particulars of its $80 billion expansion of the IRS, which is six times the size of the tax agency's current $12.6 billion budget:
The $80 billion is more than six times the current annual IRS budget of $12.6 billion. The money will be ladled out over nine years and comes with few strings attached. The main Democratic command is for the tax agency to bring the hammer down on taxpayers.
The bill earmarks $45.6 billion for “enforcement,” including “litigation,” “criminal investigations,” “investigative technology,” “digital asset monitoring” and a new fleet of tax-collector cars. The result will be far more audits, civil suits and criminal referrals.
The main targets will by necessity be the middle- and upper-middle class because that’s where the money is. 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 IRS knows the super-wealthy employ lawyers and accountants who make litigation time-consuming and risky. It also knows that Democrats would howl if the agency pursues fraud in the earned-income tax credit program, despite what the IRS has estimated are $18 billion in improper payments each year.
(Excerpt) Read more at americanthinker.com ...
Funny, I don’t see the IRS going after the Biden crime family.
“tax collector car”
These should make nice bonfires
.
They already destroyed thousands of small businesses with the lockdowns.
Now, they will destroy more with the IRS during an inflationary triggered recession.
There is zero doubt this is being done to collapse the economy leaving only the big, Democrat businesses (Walmart, Amazon) standing.
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” -Vladimir Ilich Lenin
Or the free ride the gave Reverend Al Sharpton.
If it is true that the importation of military-aged male illegals will be infused into our military to replace the Patriots they are running out, that would constitute the mercenary troops to which Gibbon referred in Roman times.
People should pay their taxes.
Agreed, but the government should be responsible with their spending, too.
Not much use mentioning that. The article states the people that will be crushed are those making $200,000 and below.
Small businesses etc. The marxists intend to ruin them.
I have a hard time wrapping my head around how We The People are allowing all this with no fight. This bill is a people and family destroyer.
I will say that the main culprit is elections. The constant never ending 2 and 4 year cycle has made us hope instead of taking resolute action.
Keep in mind the evil deception of what the bill is named. Very few people will even hear about it before it passes. The GOP is non vocal and AWOL as usual.
Now I understand why the irs has been buying weapons of war and ammo by the millions . They have a plan . Lois Lerner would be proud .
O please, just shaddup. Tell that to your Biden family boys and political class.
We the conservative people are apathetic and basically chickenshit
This!!
IRS = American Gestapo
Things are about to become REALLY difficult.
This is why, when I purchased my “bug out” property in Kentucky back in 2008 (and moved there permanently in 2011), my retirement goal was not to have a large retirement income, but to have a low cost of living. That meant owning the property free and clear, no debt and having no “taxable” income.
That is where we are now. They can pound sand.
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.