The inevitable target of Biden’s army will be small businesses and their owners. From Julio Gonzales at realclearpolitics.com:
(AP Photo/Susan Walsh)
The Biden administration’s decision to recruit nearly 90,000 new IRS auditors could have a chilling effect on small businesses and economic growth, permanently impeding our nation’s ability to recover from its current economic malaise.
As part of the misleadingly titled “Inflation Reduction Act,” President Biden and his allies secured roughly $80 billion in new IRS funding to hire 87,000 auditors. This is bad news for the American economy.
One of the many ways that small businesses can succeed and help grow the economy is by taking advantage of tax credits and deductions which leave more money in the hands of owners to reinvest in their businesses and offer more competitive pay for their employees.
But with the looming threat of a veritable army of auditors being mobilized by the Biden administration, it is highly likely that many small businesses will decline to seek the benefits of those credits and deductions, lest they face the costly headache of aggressive audits from the IRS. In fact, my firm, Engineered Tax Services, specializes in working with businesses to understand and utilize those credits and deductions, and some of my firm’s small business clients have told me this is the case.
The government desperately needs your money, and it doesn’t care how it gets your dollars. From David Harsanyi at The Epoch Times via zerohedge.com:
The Democrats’ new reconciliation bill isn’t just going to be the largest-ever expansion of a government agency. It’s going to be the largest expansion of the domestic police state in American history. Only a statist could believe that a federal government, which already collects $4.1 trillion every year—or $12,300 for every citizen—supposedly needs 80 battalions of new IRS cops.
The average American has less reason to be concerned about cops with guns—though the IRS is looking for special agents who can “carry a firearm and be willing to use deadly force, if necessary”—than they do bureaucrats armed with pens who are authorized to sift through their lives. If you pay your taxes you have nothing to worry about, Democrats claim. But most law-abiding citizens know they have something to fear from a state agency that doesn’t concern itself with your due process, has no regard for your privacy, and is empowered to target anyone it wants without any genuine oversight.
And, please, spare us this nonsense about the IRS expansion focusing exclusively on “high earners.” White House press secretary Karine Jean-Pierre promised that the IRS wouldn’t engage in new audits of anyone making under $400,000—a claim she has no authority to make and could not possibly predict even if she did. Connecticut Sen. Chris Murphy also said that the bill was passed to stop an “epidemic of tax cheating amongst the millionaires and billionaires” and promised that “audit rates won’t increase for anyone making under $400K.”
The IRS is an unconstitutional “Federal” agency that terrorizes America.
A former Internal Revenue Service (IRS) whistleblower has said that the Democrats’ Inflation Reduction Act (IRA) will see the government target middle-income Americans with increased scrutiny and audits.
William Henck previously worked as a lawyer for the IRS for 20 years until 2017, when he was terminated for allegedly revealing sensitive information to the media about how the IRS had reportedly failed to identify a multi-billion-dollar corporate tax credit scheme involving a source of energy known as burning pulp byproducts, or black liquor.
Speaking to Fox Business, Henck disputed claims by the IRS and other officials who have said that increased funding for the agency under the IRA, which is set to be signed into law by President Joe Biden this week, would only lead to more audits for wealthy millionaires and billionaires and large corporations.
“The idea that they’re going to open things up and go after these big billionaires and large corporations is quite frankly [expletive],” Henck said in the interview on Aug. 15. “It’s not going to happen. They’re going to give themselves bonuses and promotions and really nice conferences.”
“The big corporations and the billionaires are probably sitting back laughing right now,” he said, adding that it was “insane” to double the IRS budget.
Henck also said he believes that the agency will go after businesses that don’t have enough money to hire Washington lobbyists.
A classic money sentence: “In other words, they just used your taxes to increase your taxes so they could hire 87,000 IRS agents to rifle further through your taxes in case you owe more taxes.” From Raheem Kassam at raheemkassam.substack.com:
“Nations do not escape from their past merely by making a revolution.”
Internal Revenue Service (IRS) commissioner Charles P. Rettig told Congress his agency wouldn’t increase audits on households earning less than $400,000 after being handed circa 87,000 more agents in the Orwellianly-monikered Inflation Reduction Act hurried through the U.S. Congress this weekend.
Which means they absolutely will be doing that, if historical promises by agency heads in front of the lawmakers they pretend to answer to are anything to go by. And they are.
In other words, they just used your taxes to increase your taxes so they could hire 87,000 IRS agents to rifle further through your taxes in case you owe more taxes.
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