Biden Targets Low Income Americans
This is not good if true.
Republican lawmakers are now warning the American people that additional funding to the IRS, like how President Biden wants, will result in more financial trouble for low income Americans.
According to Fox, the Democrats’ new bill for health care and climate spending includes a $80 billion loophole that will go to the IRS. This $80 billion will help the IRS crack down on tax cheats however Republicans believe this money will be used to target low income Americans instead.
Republicans believe that the IRS will disproportionately go after low-income Americans with their tax audits every year. What’s worse is that household who make less than $25,000 per years are five times as likely to get hit by audits.
A recent study found that the IRS audited 54% of low-income workers last year. What’s even worse is that taxpayers who earned anywhere from $200,000 to $1 million per year only had a 33% chance of being audited by the IRS.
After Republicans complained about middle to lower class Americans being targeted, the IRS commissioner fired back and said, “These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans. As we have been planning, our investment of these enforcement resources is designed around Treasury’s directive that audit rates will not rise relative to recent years for households making under $400,000.”
