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CBO: Democrat Deal Takes $20B from Working,
Middle Class Americans with New IRS Audits

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Posted By: Dreadnought, 8/13/2022 12:55:12 AM

The Democrats’ “Inflation Reduction Act” is set to squeeze $20 billion from working and middle class Americans with new funding for increased Internal Revenue Service (IRS) audits, the Congressional Budget Office (CBO) estimates. On Friday, House Democrats passed the Inflation Reduction Act after Senate Democrats passed the bill earlier this Hours before its passage in the House, lawmakers received the bill’s CBO score — revealing that billions will be taken from working and middle class Americans as a result of billions in new funding for IRS audits. Specifically, the CBO estimates that the Democrats’ $80 billion for new IRS audits will take at least $20 billion from working and middle class Americans earning less

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Reply 1 - Posted by: Dreadnought 8/13/2022 12:55:31 AM (No. 1246711)
And that's on top of the inflation tax.
13 people like this.

Reply 2 - Posted by: 24tea@Mag 8/13/2022 1:06:20 AM (No. 1246714)
Evil and disgraceful politicians. Every dog has their day.
12 people like this.

Reply 3 - Posted by: FJB 2022 23 24 8/13/2022 1:20:37 AM (No. 1246725)
I hope all the fools who voted these Dems into office are happy, but you will rue the day when they come for your hard earned dollars too, at least those who actually work for it. Manchin I hope you rot in hell, Sinema too, no respect for either of you , or the rest of your party.
13 people like this.

Reply 4 - Posted by: snakeoil 8/13/2022 1:22:43 AM (No. 1246728)
Since my yearly income is below $ 400k per year according to Quid Pro Joe I've got nothing to worry about. I'd convert everything I've got into gold and bury it in my back yard. But the dims will spend another trillion of metal detectors.
9 people like this.

Reply 5 - Posted by: GoodDeal 8/13/2022 1:45:34 AM (No. 1246740)
Then hiring of the 87.000 armed IRS agents is an act of war against US citizens. Wake up America! This can not stand!
24 people like this.

Reply 6 - Posted by: mifla 8/13/2022 4:34:13 AM (No. 1246774)
Conservatives should apply for the 87K jobs and then go after Dems.
16 people like this.

Reply 7 - Posted by: DCGIRL 8/13/2022 6:26:14 AM (No. 1246819)
WV, Manchin has to go. It's time to put a republican in his seat.
11 people like this.

Reply 8 - Posted by: Rinktum 8/13/2022 7:36:49 AM (No. 1246871)
#7, I agree but Manchin is not worried. He has played the game long enough to set himself and his family up for life just like every other self-serving parasite that calls themselves public servants. Will the American people sit back and let this traitorous political party destroy us or will they fight back at the polls? It is going to take each one of us to go and vote these lying jokers out. We have to take back the country in November or we are toast because 2024 us going to be too late. The damage will be done and I doubt we can come back from it. As Ronald Reagan said, the time for choosing is now. It’s going to take a massive outpouring of voters at the polls to defeat them. They simply must be destroyed. Nothing else will do.
12 people like this.

Reply 9 - Posted by: Rama41 8/13/2022 8:05:42 AM (No. 1246893)
They could have also called this the Lois Lerner Act. Don't think they won't be watching where you'll be putting your political contributions.
2 people like this.

Reply 10 - Posted by: Strike3 8/13/2022 8:37:08 AM (No. 1246927)
Many Americans have already found ways to get through life without working. I suspect there will be many more of those. Let's see how they audit a barter economy.
0 people like this.

Reply 11 - Posted by: lakerman1 8/13/2022 8:47:36 AM (No. 1246936)
Since most taxpayers file the simple form 1040, the only deduction they might take, beyond the basic deduction, is for charitable contributions. And the limit under those circumstances is 600 dollars for charitable contributions. The IRS could, I suppose, audit taxpayers who take that deduction by donating housewares and clothing. As it stands now, the taxpayer establishes the value of the goods donated, and if the IRS challenges the valuation, they could squeeze some dollars out of the taxpayer. Unreported income such as baby sitting, lawn ,mowing, odd jobs, gambling winnings, gifts from relatives all could be sources of income. (I remember an early episode of the Mary Tyler Moore show, where she is audited, and admits to the IRS agent that she earned 50 dollars for typing a thesis for a college student, and the IRS agent said, "We hardly ever catch that." They will now. How about garage sales? Money made on e-bay sales? There could be miserable days ahead for innocent taxpayers.
3 people like this.

Reply 12 - Posted by: bigfatslob 8/13/2022 9:37:28 AM (No. 1246989)
Remember those 401-Ks with deferred taxes well those armed to the teeth IRS agents are coming for their cash now. If I'm ever audited, I'm wearing a gun to the audit if the IRS has a gun on the table, it can't be good. Defend yourself. Part of the DNC homeland army the FBI, ATF and now the IRS with Antifa and BLM the takeover is complete Obama's dream is complete. We are fundamentally changed from freedom loving America. We will be destroyed and taken over now to complete the starvation process.
0 people like this.

Reply 13 - Posted by: MDConservative 8/13/2022 10:22:11 AM (No. 1247024)
"Nobody earning less than $400,000 a year will pay an additional penny in new taxes. Nobody.” People will be forced to pony up at the edges by paying what they've avoided in past years. So many demand compliance with laws until they're actually enforced. People want traffic safety and moan when given a ticket. They want public safety until they get stopped and asked for identification for some specious reason. And they will howl when their favorite tax dodge earns them a tax bill. But what Biden said is literally true...no new taxes.
0 people like this.

Reply 14 - Posted by: Venturer 8/13/2022 11:12:46 AM (No. 1247071)
That laves us 60 Billion in the hole.
0 people like this.

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