Last weekend, all 50 Senate Democrats voted against an amendment offered by Senate Finance Republican Leader Mike Crapo (R-ID) that would have protected lower- and middle-income American taxpayers against new audits by the IRS.
The Congressional Budget Office (CBO) confirms that had this amendment passed and lower- and middle-income taxpayers been protected, revenue in Democrats’ bill would have been reduced by at least $20 billion – confirming that at least $20 billion of the $124 billion in new revenue expected by a supercharged IRS will be coming from higher audits on low- and middle-income Americans.
The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78 percent to 90 percent of the money raised from under-reported income would likely come from those making less than $200,000 a year. Nearly half of the audits would hit Americans making $75,000 per year or less and only 4 percent to 9 percent would come from those making more than $500,000.
Do you really think these super charged audits will be fairly distributed between blue and red states? Do you trust the Biden admin IRS to not weaponize this new power to witch hunt conservatives just like how the prior Obama admin went after right wing charities and tax exempt groups?
There are 735 billionaires in the country.
When the IRS posted 87,000 job vacancies, that made it rather obvious what was about to happen, and to whom.
Oh, and those employees are told they must be ready to be armed, and ready to use deadly force. That ain't no desk job. That's a literal army ready to bust down your door.
Even if you just look at millionaires, there's just over 20 million in the US apparently. Which means those 87000 new IRS employees can cover every millionaire if they get assigned about 200 apiece. Anyone who thinks this was just about "tax the rich" is an idiot.
Is that math right? 87000 people can cover 20 million people with 200 per millionaire? 87000 people can at most cover 87000 millionaires at one each.
Each IRS agent is assigned to monitor 200 millionaires (I think it's actually 229 and change)
If one IRS agent takes on 20 millionaires, all 87000 can take care of 1740000 millionaires.