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Biden’s BBB ‘billionaires’ targeted for IRS enforcement will be taxpayers earning less than $75,000 a year

by  Monica Showalter

Joe Biden is brimming with bee ess and lies. Probably his biggest is the one he’s put out about his plan to target all those supposedly cheating billionaires for tax enforcement under his “Build Back Better” porkulus plan. He claims it’s all about making them “pay their fair share.”

Implicit in his message is a reassurance to the little guy that all those 80,000 new IRS agents he’d like to hire in the BBB plan would only target lazy, shiftless, cheating billionaires. It’s got a skeevy smell, given that there are only 630 Americans in the club of billionaires to target. Some 80,000 new agents would amount to 127 IRS agents per billionaire as if a couple of sharp ones couldn’t do the trick.

It’s garbage and now Reason magazine’s Eric Boehm has done an excellent job digging into the particulars and exposing the lie.

As part of Biden’s “Build Back Better” plan, the IRS would get $80 billion in additional funding over the next 10 years. The bulk of those new funds, nearly $45 billion, would be directed toward enforcement actions with the goal of doubling the number of annual audits of small businesses. By comparison, the bill spends a relatively meager $1.93 billion on improving taxpayer services, including education and filing assistance.

In short, for every new dollar the IRS will spend helping Americans understand the endlessly complicated federal tax code, the agency will spend roughly $23 new dollars on enforcing those same rules.

He points out that the agency has a gross record of trampling on Americans’ rights and a surge of…


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