As President Joe Biden and his Democratic allies make a final push to pass his legacy Build Back Better Act through the Senate before Christmas, some of the various methods Democrats plan to use to help pay for the bill will punish hundreds of thousands of working-class Americans.
According to Breitbart, one of those methods includes ramping up Internal Revenue Service (IRS) audits on some 600,000 American families that pull in $75,000 or less per year.
Even worse, about half of those audits will target Americans making $25,000 or less per year, all in the name of squeezing every last possible dime to pay for the bloated, radically progressive spending bill that Biden and his friends promise will cost Americans nothing.
“Democrats’ tax and spending spree will more than double Americans’ chances of being audited as it targets lower and middle-income earners,” an analysis by Republican lawmakers read.
It gets worse
Aside from ramping up the IRS with some 87,000 new agents and $80 billion in mandatory federal funding, the agency will be tasked with doubling their auditing efforts, mostly focused on middle and low-income earners, including small businesses.
“The Biden plan will mean more audits of the middle class and lower-income Americans, 800,000 more federal tax liens per year, and more IRS shakedowns of American families and small businesses,” the Republicans wrote in their analysis.
They added: “All this so Democrats can wring an extra $200 billion out of the American people, particularly from middleclass families and small businesses.”
Should the bill pass and the new IRS efforts proceed, the timing couldn’t be worse, as many Americans and small business owners are just now climbing out of financial ruin from the COVID-19 pandemic.
Protecting the wealthy
Democrats have long argued that Republicans only care about America’s elite earners, but in reality, it appears that the Democratic Party is the ultimate protector of the rich, as Biden’s bill will result in protections for high-earners.
In the wealthiest blue states, Biden’s legislation enhances the State and Local Tax (SALT) deduction cap, giving rich Democrats in states like New York and New Jersey a whopping $625 billion tax deduction as a result of the increase.
Sixty-six percent of Americans who earn more than $1 million per year will receive a tax cut, and 78% earning between $500,000 and $1 million will receive a tax cut.
The percentage of middle-income Americans that will receive a tax cut is shockingly lower, with only 19% who earn between $75,000 and $100,000 receiving the benefit of a tax cut.