Free Republic

Treasury Department Secretary Janet Yellen acknowledged on Friday that 90 percent of IRS audits will be conducted on small businesses and families, not billionaires. Testifying before the House Ways and Means Committee, Rep. Adrian Smith (R-NE) questioned Yellen on the ambiguity of her opening statement. Smith prefaced his question by noting the 87,000 new IRS agents hired at the agency over the next decade to conduct tax enforcement on Americans. “Regarding the audits, there has been confusion about the meaning of the directive that you cited,” Smith said in his line of questioning. “Are you talking about the total number...

... At his Arizona State University commencement speech last Wednesday, Mr. Obama noted that ASU had refused to grant him an honorary degree, citing his lack of experience, and the controversy this had caused. He then demonstrated ASU's point by remarking, "I really thought this was much ado about nothing, but I do think we all learned an important lesson. I learned never again to pick another team over the Sun Devils in my NCAA brackets. . . . President [Michael] Crowe and the Board of Regents will soon learn all about being audited by the IRS." Just a joke...