DOOCY: "Is the plan to catch billionaire tax-cheats by snooping on accounts that just have $10,000 in them?"
— Townhall.com (@townhallcom) October 19, 2021
PSAKI: "That's not exactly an accurate description, so let me help you with an accurate description of what is actually happening here." pic.twitter.com/Xmfb1P3tup
The Biden Administration seemed to cave, somewhat, today on the IRS snooping provision they have been pushing — getting reports on accounts that had inflow/outflow of $600 or more, a provision which would basically then give them the ability to look at everyone’s account. Now, they’re claiming that they will scale it back to $10,000.
Now, they’re claiming that they will scale it back to $10,000. But it’s $10,000 over the course of a year that they’re proposing now.
“Today’s new proposal reflects the administration’s strong belief that we should zero in on those at the top of the income scale who don’t pay the taxes they owe, while protecting American workers by setting the bank account threshold at $10,000 and providing an exemption for wage earners like teachers and firefighters,” Treasury Secretary Janet Yellen said in a statement.
Bu this is actually pretty deceptive. Because while it might not pick up a salary coming in, according to the Republicans, the provision will pick up the money going out, which again most Americans will spend more than $10,000 in a year if they are working adults. It’s also going to pick up people who are paid but don’t get a W2 or regular salary with the money coming in.
read more here: https://redstate.com/nick-arama/2021/10/19/wh-changes-the-irs-snooping-provision-but-heres-how-deceptive-that-is-n459457?
Replies
When they scale it back from $10,000 to NEVER UNDER ANY CIRCUMSTANCES that will be acceptable.
Makes no difference at all! This is tyranny! Miss Trump yet?