The Biden administration is dead-set on taking your money.
Plan A was to repeal the entire Trump tax cut and vastly increase corporate and individual income taxes on top of new taxes on energy. Sens. Joe Manchin and Kyrsten Sinema have slowed this down, reduced the size of any final tax cut, and perhaps killed tax cuts before the 2022 midterm elections. So plan B is to give the IRS vast new powers to squeeze more money out of taxpayers using the current code. And then there’s plan C: inflation. Print more dollars and spend them.
While the world talks about possible tax hikes and the painful reality of inflation, they’re missing the disturbing developments in plan B — developments that would adversely affect the lives of all tax-paying citizens.
The Democrats want to supersize the IRS.
Nancy Pelosi, Chuck Schumer, and Joe Biden agree that they want to double the size of the IRS and spend even more tax dollars to harass and audit taxpayers. But wait. There’s more. They also want to give IRS bureaucrats new powers to monitor the bank accounts of taxpayers and have the IRS make out your tax return and simply send you a bill for what the IRS thinks you owe.