What’s Happening:

President Biden was able to squeeze through massive omnibus bills in his first 2 years in office under the guise of emergency spending for the pandemic.

Democrats especially played off their normal playbook of class warfare. While they couldn’t raise taxes while Biden’s policies kept the economy at a trickle instead of roaring back, they instead said they would beef up the IRS to get all those taxes the rich were hiding away.

And voters seemed to buy this. Democrats were able to pass a bill giving billions to the IRS to hire 87,000 new workers, and said it was to go after the rich. But months later, we’re finding out what they were really up to, and folks? It’s bad. From Reason:

“The taxpayer class with unbelievably high audit rates—five and a half times virtually everyone else—were low-income wage-earners taking the earned income tax credit,” reported TRAC, noting that the poorest taxpayers are “easy marks in an era when IRS increasingly relies upon correspondence audits yet doesn’t have the resources to assist taxpayers or answer their questions.”

In fact, “if one ignores the fiction of auditing a millionaire through simply sending a letter through the mail, the odds that millionaires received a regular audit by a revenue agent (1.1%) was actually less than the audit rate of the targeted lowest income wage-earners whose audit rate was 1.27 percent!”

The Inflation Reduction Act, passed in August 2022, directed $80 billion worth of new funding over the next decade to the IRS so it could hire 87,000 new workers, purportedly to better target millionaire and billionaire scofflaws.

So, they’re going after the poor more than the rich? They’re still completely inept at helping people get their taxes filed correctly, but they’re great at going after the little guy?

Well, Biden would probably ignore a report like this now that he seemingly has what he wants. But unfortunately for him, the GOP is ready to squash his little scheme against the American people like a bug.

The newly christened Speaker, Kevin McCarthy, promised the first act the House will take is to take away the funding for all those new IRS agents.

So, Joe’s plan to keep going after regular Americans will be put to a standstill. And maybe the IRS will finally start to figure out how to do its job rather than mistakenly disburse billions of dollars to the wrong people.

Or to target conservatives on behalf of the Democrats.

Key Takeaways:

• Congress greenlit $80 billion for the IRS to hire 87,000 new workers over 10 years.
• These workers were meant to target the rich.
• New evidence shows the IRS continues to target the poor more than the rich.
• Kevin McCarthy has pledged to put a stop to Biden’s plan.

Source: Reason