So what exactly are the Biden-Harris regime and the Democrats in Congress going to scheme to make all of the so-called “American Rescue Plan” tax changes work? They intend to put the IRS on steroids. Senator Elizabeth Warren has unveiled her new “Restoring the IRS Act of 2021” which will TRIPLE the IRS budget from about $12 billion to a whopping $31.5 billion.
For too long, the wealthiest Americans and the biggest corporations have been able to use lawyers, accountants, and lobbyists to avoid paying their fair share. My bill gives the IRS the resources they need to go after wealthy tax cheats. https://t.co/zLxP42Kzif
— Elizabeth Warren (@ewarren) May 26, 2021
Why would Warren need to pump up the budget so high? The goals that OANN reported, will boil most Americans blood. Even the IRS budget is somehow about … Race and of course: class.
“The goal of the “Restoring the IRS Act of 2021” is to stop wealthy tax cheats and close the tax gap. Warren’s bill would require financial institutions to disclose third-party account activity to allow the IRS enhanced taxpayer accountability. The bill would also examine racial and income inequalities in the IRS’s operations.”
According to the text of the bill, it is designed very specifically to target wealthier Americans, “It is the sense of Congress that—the Internal Revenue Service should be given resources to increase audits and enforcement of tax compliance of high-income, high wealth individuals and corporations, with an emphasis on the auditing and enforcement of tax compliance by individuals with gross income of not less than $1,000,000 and of large corporation”
Warren doubled down on Twitter, posting
“For too long, the wealthiest Americans and the biggest corporations have been able to use lawyers, accountants, and lobbyists to avoid paying their fair share. My bill gives the IRS the resources they need to go after wealthy tax cheats.”
That’s just a stitch considering that Sen. Warren and her husband have amassed a $12 million fortune since she took office.
Another Scheme To Reverse GOP Gains Under Trump
Bloomberg wrote, “Strengthening the IRS’s ability to go after wealthy tax cheats will not only require more funding, but more stable funding,” Warren said in a summary of the legislation released Monday.
“Mandatory funding would provide funding on an ongoing basis, ensuring that the IRS budget is steady, predictable, and sustained — money that lobbyists can’t easily strip away.”
She said money that “lobbyists can’t easily strip away.”, no doubt she means that no President can strip away. President Trump’s reduction of $239 million from the IRS’ budget in 2017 must be fresh in her mind after four years.