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Biden’s IRS ‘will have to target small and medium businesses because they won’t fight back’

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“The IRS will have to target small and medium businesses because they won’t fight back” is a direct quote from Joe Hinchman, executive vice president at National Taxpayers Union Foundation. That is what the American people are up against, and President Joe Biden has just emboldened the sickness.

The Foreign Desk News reports that the Joint Committee on Taxation (JCT),  a nonpartisan watchdog group has found “taxes will increase by $16.7 billion on American taxpayers earning less than $200,000—a nearly $17 billion tax targeted solidly at low and middle-income earners next year.”

Additionally, “at least half of all new tax revenue raised next year would come from those earning under $400,000, and by 2031, those earning below $400,000 are projected to bear as much as two-thirds of the burden of the additional tax revenue collected.”

Going after vulnerable, middle-class Americans is nothing new for the IRS. Hinchman also stated  “The IRS says ‘We’re going after the rich’ but when you’re trying to raise that much money, the rich can only get you so far… The rich have their lawyers and fight it — that’s why the poor are easier to go after.”

Last year alone, the IRS audited “Americans earning less than $25,000 a year at five times the rate of other groups, according to a study by Syracuse University’s Transactional Records Access Clearinghouse (TRAC), a nonpartisan, nonprofit data research center.”

Analysis of the new spending for the IRS showed that Americans who earn less than $75,000 per year are slated to receive 60 percent of the additional tax audits. According to this analysis, the IRS would conduct more than 1.2 million additional annual audits of Americans’ tax returns.

The watchdog group also estimated that “between 78 and 90 percent of the estimated additional $200 billion the IRS will collect will come from small businesses making less than $200,000 annually.”

The IRS has insisted their target is higher income individuals, but, according to the JCT, “only 4-9 percent of additionally collected funds will come from businesses making north of $500,000 a year.”

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Economy

Biden’s 60 Minutes Interview Horrifies White House: ‘Does NOT Reflect the OFFICIAL Position’

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Uh oh. Someone let President Joe Biden speak by himself again and damage control immediately ensued. President Joe Biden’s “60 Minutes” interview which aired on CBS Sunday was 60 minutes of pure torture for viewers and 60 minutes of pure angst for the White House; everyone but the president himself.

60 Minutes’ official Twitter account publicly called out the President’s answers with an embarrassing statement that his own administration was in disagreement with him:

“President Biden tells 60 Minutes that U.S. men and women would defend Taiwan in the vent of a Chinese invasion. However, after our interview, a White House official told us that U.S. policy on Taiwan has not changed.”

CBS’ Scott Pelley also discussed inflation; an issue drastically affecting the welfare and wellbeing of families. Biden deflected with zero sympathy:

As for President Biden’s son Joe, he is sticking with the narrative that Hunter is the “smartest” person he knows and that “there’s not a single thing that I’ve observed at all that would affect me or the United States relative to my son Hunter.”

Biden also said that while the “proof of the pudding is in the eating” in response to being asked if he is fit to be President, Biden did not commit to saying whether or not he will run for re-election. His “intention” is to run again, “but that’s just intention” he said. “Is it a firm decision that I run again? That remains to be seen.”

 

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