Posted on 04/06/2024 7:02:06 PM PDT by SeekAndFind
"Never trust a man who lays his hand on his heart when he assures you of anything," goes the old axiom. That's why I never trust a Democrat who makes any promise ever about a federal agency or program.
Take Medicare. In 1966 when Medicare began, it cost $3 billion. The House Ways and Means Committee estimated that Medicare would cost about $12 billion by 1990. Instead, it cost $107 billion and today costs the government close to a trillion dollars.
So when Joe Biden and the Democrats assured Americans and Republicans in Congress that the $80 billion the president wanted to augment the IRS tax-collecting ability was only going to target "the rich," everyone with two brain cells working knew it was a lie.
It will surprise no one that an audit by the Treasury Inspector General For Tax Administration found that "President Biden's plan to hire a new army of tax collectors is falling flat, and the agents already at work are targeting the middle class."
"As of last summer, 63% of new audits targeted taxpayers with income of less than $200,000," reports the Wall Street Journal. "Only a small overall share reached the very highest earners, while 80% of audits covered filers earning less than $1 million."
Bank robber Willie Sutton supposedly responded to the question of why he robs banks by saying with a shrug, "That's where the money is." So, too, the IRS audits well-off but not "rich" taxpayers because they can't afford the army of tax attorneys that the super-rich can bring to the table.
(Excerpt) Read more at pjmedia.com ...
"These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans. As we've been planning, our investment of these enforcement resources is designed around the Department of the Treasury's directive that audit rates will not rise relative to recent years for households making under $400,000," wrote IRS commissioner Charles Rettig in an August 2022 letter to concerned senators.
Janet Yellen was even more adamant. "Contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited," she wrote in a letter to Rettig.
STILL BELIEVE THEM? I DON'T.
bttt
Just never trust a Democrat, period.
“small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,“
Note :”increase in the chances” now they have the money they can follow through on the original plan
Bingo... they are going to destroy those who are being destroyed. Absolute psychopaths running the federal government right now...
Not to mention that most of the "super-rich" have broken no tax laws because a) the consequences are higher for them if they do and b) they have excellent tax attorneys and excellent accountants to make sure their returns are flawless.
The tenacity of our tyrannical communist rulers in imposing more & more tyranny is unmatched by those GOPers seeking (supposedly) to protect our Constitutional freedoms & liberties...
Trust that they are lying to you
“Just never trust a Democrat, period.”
That’s been the case for over 165 years.
They have always been auditing “the rich”. It never ends. 80,000 auditors would not be needed for a function that’s been ongoing since tax auditing started.
No! @I’m-flabergasted
What’s missing form that list?... Oh yeah, death camps.
The IRS was lying, surely you jest?
Well, putting aside the ubiquitous lying by Demorats, what do you think IRS would do first, spend a few weeks fighting with someones’s CPA over an $8000 743(b) partnership depreciation adjustment or spend 5 minutes with the person who claimed $8,000 of refundable tax credits for the children she claimed to have but weren’t hers?
Hence, the statistic.
We are not free.
This happened because congress let them.. Not a fight in them.
I never knowingly do business with a Democrat or befriend them. They are inherently untrustworthy. No morals at all.
It is my belief that the extra audit help was primarily for anyone donating to a Trump or Trump adjacent campaign.
I have no love for the IRS, or its expansion.
But, I suspect that $200,000 is net income on a return. So that number can be a little misleading.
When my wife’s brother in law passed 14 years ago, I got to unravel their web of finances. He was grossing $700k a year, and his net was less than $150k. He was cheating so blatantly, that my wife and I worried for 7 years that there would be an audit that would ruin her sister.
As a side note, the man was a rabid democrat that advocated loudly for higher taxes.
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