Joe Biden Wants To Have The IRS Harass Americans While Dodging It Himself
Ignore for a moment the fact that the bill contains ten years of tax increases to pay for a few years’ of spending that Democrats later hope to extend.
By Christopher Jacobs
November 19, 2021
The White House fears that an impending Congressional Budget Office analysis will say Democrats’ spending bill would increase federal deficits. The dispute seems unsurprising, given the myriad budgetary gimmicks in the bill—but not for the reasons one might expect.
Ignore for a moment the fact that the bill contains ten years of tax increases to pay for a few years’ of spending that Democrats later hope to extend, meaning that independent budget analysts have pegged the bill’s true ten-year cost not at $1.75 trillion but nearer to $5 trillion. Ignore too the fact that front-loading the bill’s spending means it will almost certainly increase federal deficits in the short-term, exacerbating inflation at a time price increases are already at 30-year highs.
Instead, the proximate dispute with CBO concerns whether an increase in tax enforcement will yield as much revenue as Treasury claims. On that front, one of the biggest arguments against the Biden administration’s position comes via Joe Biden himself.
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https://thefederalist.com/2021/11/19/joe-biden-wants-to-have-the-irs-harass-americans-while-dodging-it-himself/
