{"id":1058508,"date":"2021-11-26T23:58:49","date_gmt":"2021-11-27T04:58:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1058508"},"modified":"2021-11-26T23:58:52","modified_gmt":"2021-11-27T04:58:52","slug":"bidens-build-back-better-irs-audits-for-working-class-tax-cuts-for-the-rich","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-build-back-better-irs-audits-for-working-class-tax-cuts-for-the-rich\/","title":{"rendered":"Biden&#039;s Build Back Better: IRS Audits for Working Class, Tax Cuts for the Rich"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-build-back-better-irs-audits-for-working-class-tax-cuts-for-the-rich%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1058508&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/GettyImages-1233738525-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">President Joe Biden and Democrats are hoping to squeeze an extra $200 billion in tax revenue out of American taxpayers by mostly targeting working and middle class households with Internal Revenue Service (IRS) audits.<\/p>\n<p>As part of Biden\u2019s \u201cBuild Back Better Act,\u201d which was <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/19\/house-passes-behemoth-build-back-better-act\/\">already passed<\/a> by House Democrats, nearly 600,000 more working and middle class Americans earning $75,000 or less a year would be audited by the IRS, <a href=\"https:\/\/gop-waysandmeans.house.gov\/wp-content\/uploads\/2021\/11\/211117-One-Pager-IRS-Audits.pdf\">an analysis<\/a> by Republican lawmakers reveals.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cDemocrats\u2019 tax and spending spree will more than double Americans\u2019 chances of being audited as it targets lower and middle-income earners,\u201d the analysis states:<\/p>\n<blockquote readability=\"16\">\n<p><strong>The proposal will lead to an additional 1.2 million IRS audits each year, nearly half of which will hit middle class families making less than $75,000<\/strong>. All this so Democrats can wring an extra $200 billion out of the American people, particularly from middle class families and small businesses.<br \/>[Emphasis added]\n<p><strong>Biden\u2019s plan to supercharge the IRS with $80 billion in mandatory funding and 87,000 new IRS agents<\/strong> will lead to drastically higher audit rates for all Americans at every income level according to the Congressional Budget Office. [Emphasis added]\n<\/blockquote>\n<p>Specifically, more than 583,000 of the new IRS audits will target working and middle class Americans earning $75,000 or less. Of those 583,000 new IRS audits, more than 313,000 would target the poorest of Americans who earn $25,000 or less a year.<\/p>\n<p>In addition, Biden\u2019s Build Back Better Act will \u201cmean more than 800,000 more federal tax liens on taxpayer property such as homes and vehicles,\u201d the analysis states.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Also, because the majority of underreported income to the IRS is from those earning $0 to $200,000 a year, the plan will mean more targeting of not only working and middle class Americans but also small businesses.<\/p>\n<p>\u201cThe 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,\u201d the analysis states.<\/p>\n<p>At the same time, Biden\u2019s Build Back Better Act would provide a <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/15\/joe-biden-democrats-seek-625-billion-tax-cut-for-wealthy-coastal-elites\/\">$625 billion tax cut<\/a> for the wealthiest Americans living in blue states \u2014 paid for by working and middle class Americans \u2014 as a result of <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/19\/democrats-approve-billion-dollar-tax-cut-for-their-rich-blue-state-donors\/\">an increase<\/a> in the&nbsp;State and Local Tax (SALT) deduction cap.<\/p>\n<p>The plan gives a tax cut to 66 percent of Americans earning more than $1 million annually while 78 percent of Americans earning $500,000 to $1 million will get a tax cut. Meanwhile, just 27 percent of Americans earning $75,000 to $100,000 would see a tax increase along with 19 percent of Americans earning $50,000 to $75,000.<\/p>\n<p><strong><em>John Binder is a reporter for Breitbart News. Email him at&nbsp;jbinder@breitbart.com.&nbsp;Follow him on Twitter&nbsp;<a class=\"x5l\" href=\"https:\/\/twitter.com\/JxhnBxnder\" target=\"_blank\" rel=\"noopener external\">here<\/a>.&nbsp;<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden and Democrats are hoping to squeeze an extra $200 billion in tax revenue out of American taxpayers by mostly targeting working and middle class households with Internal &#8230;<\/p>\n","protected":false},"author":14,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1058508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1058508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1058508"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1058508\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1058508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1058508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1058508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}