There Are Only 90K Americans Worth Over $50 Million – The New IRS Army Isn’t For Them, It’s For You!
In response to the record inflation facing Americans currently — thanks to massive and irresponsible printing of money by the Federal Reserve — the US government has come up with a “plan.” This new plan involves doubling down on the same irresponsible fiscal behavior which brought us to this nightmare scenario in the first place, which is hundreds of billions in new spending.
This time, however, there will be a literal army of enforcers to take your money to pay back some of this interest to the Fed.
The Schumer-Manchin tax bill known as the Inflation Reduction Act, which passed the Senate on Sunday, raises taxes and allocates a whopping $80 billion to the Internal Revenue Service so they can increase enforcement. Just how big is “whopping”? The proposed increase is more than six times the current annual budget of the IRS which sits a $12.6 billion.
With this insane increase in spending, the IRS will be doubling their total workforce by hiring an additional 80,000 to 87,000 additional employees who will be trained to separate you from the product of your labor.
The plan is being lauded by Democrats who claim that this $80 billion and 87,000 more agents, are necessary and will be used to “crack down on wealthy tax evaders.” But this is simply not true.
According to an analysis from Credit Suisse, there are roughly 788 billionaires in the United States and roughly 89,510 people worth more than $50 million. If the establishment was truly concerned about going after the “wealthy,” they would only have about 90,000 folks to monitor. And, if they doubled their ranks, it would mean nearly two IRS agents per extremely wealthy individual.
In reality, this new army of wage thieves will be enforcing a system of slavery on the 99 percent of Americans below the “wealthy” range.
Sadly, this bill is receiving support in Washington and widespread praise in corporate media. This is in spite of the fact that it will do nothing to reduce inflation and had loopholes built in for the super rich before it even went to the Senate floor.
I wish I loved anything as much as Kyrsten Sinema loves the carried interest loophole https://t.co/sjVKdyg26s
— Emma Vigeland (@EmmaVigeland) August 5, 2022
It will, however, hammer Americans who cannot afford all the tax breaks written into the bill for “green energy” credits. Included in the bill are new spending mechanisms that includes $161 billion for clean electricity tax credits and $64 billion in new Affordable Care Act subsidies.
The average American cannot afford a $100,000 Tesla to reduce their tax liability which means they will be paying at a higher rate than the folks who can. What’s more, it does nothing to address skyrocketing prices at the pump, at the grocery store and electricity prices. It actually does nothing to reduce consumer prices and will shave just .33 percent from the Consumer Price Index, over the next decade. The current CPI is 9.1 percent, the highest in over 40 years.
Simply put it merely lays the groundwork for bureaucrats to take in more tax revenue and spend more money.
In the last century, Americans have gone from keeping the entire product of their labor to being threatened with an ever-increasing government force if they don’t offer up a certain percentage. This is slavery.
Doubt this claim? Then what percentage of the product of your labor can be stolen that makes it not theft and slavery?
Sadly, most Americans today do not know they are slaves. Of course, this notion sounds insane on the surface. However, try to keep 100% of the product of your labor and see if you do not get punished by the state, thrown in prison and forced into labor. No, the masters of today don’t use whips and chains to keep us oppressed; as this bill illustrates, they use the law and the money.
We should have heeded his words in 1910, when Richard E. Byrd, speaker of the Virginia House of Delegates, predicted the leviathan that was on the horizon, saying, “a hand from Washington will be stretched out and placed upon every man’s business. . . . Heavy fines imposed by distant and unfamiliar tribunals will constantly menace the taxpayer. An army of Federal officials, spies and detectives will descend upon the state. . . .”
Unfortunately, all the warnings throughout the years fell on deaf ears and we now find ourselves in this current situation.
Article posted with permission from Matt Agorist