Inflation Reduction Act expanded IRS budget by 600%. Some claim this investment will bring in more than $200 billion in revenue. But from who?

  • An IRS Army of 87,000 New Enforcers and ‘700,000 New Audits’ on Middle-Class Americans?
  • $80 billion to expand the IRS, including tens of thousands of new IRS enforcers
  • The bill is set to more than double the IRS’ current workforce, making it one of the largest federal agencies and increasing its budget by roughly 600 percent.
  • “Democrats claim this ‘investment’ will yield more than $200 billion in revenue. That estimate is highly speculative, but if it’s anywhere close to right, IRS auditors will soon be coming after tens of millions of Americans.”
  • “Democrats want to make the IRS larger than the Pentagon, the State Department, the FBI, and the Border Patrol combined,” Cruz wrote. “That’s a terrible idea. We should abolish the IRS!”
  • And Joel Griffith with the Heritage Foundation confirms, “If you look at the past, the audits disproportionately impact those that are middle class, upper middle-class income earners. Those are the ones who get targeted by this.”
  • The Wall Street Journal makes it clear that’s a legitimate concern for the middle class, writing, “The Joint Committee on Taxation, Congress’s official tax scorekeeper, says that from 78% to 90% of the money raised from under-reported income would likely come from those making less than $200,000 a year. Only 4% to 9% would come from those making more than $500,000.”

Read the original article by clicking here.

Leave a Reply

To have your avatar appear when commenting, please signup for the Gravatar service. Your email address will not be published.

 characters available

To have your avatar appear when commenting, please signup for the Gravatar service.