The Inflation Reduction Act includes significant funding to enhance/restore the IRS’s ability to enforce compliance among higher-income taxpayers and thereby raise additional revenue and reduce the deficit. In simple terms, hire more auditors and enforcement agents and turn them loose on rich folks who, as a group, are noted for underpaying their federal taxes. Lisa has one important point right – they’re going to target the economic aristocracy. Why Lisa Benson thinks this is a Bad Thing lacks a rational foundation. But she’s also forgotten that the princess in the tower had long, long, long hair, which most schoolchildren still know.
I knew a high-level IRS auditor. He went after the high level targets—big companies, the very wealthy. One of our accounting professors told me that he was well known—and feared. And when he retired, he was not replaced.
Easier to audit the middle class—it can be done largely by computers.
Most interestingly the only suspect tax audits are at the hands of the Republicans trying to punish those that didn’t goosestep from 2016 all the way to the insurrection with them.
I am laughing. Absolutely absurd. IRS: Sorry, but It’s Just Easier and Cheaper to Audit the PoorCongress asked the IRS to report on why it audits the poor more than the affluent. Its response is that it doesn’t have enough money and people to audit the wealthy properly. So it’s not going to.
GUTTING THE IRSWho Wins When a Crucial Agency Is DefundedA multiyear campaign to slash the IRS budget has left it understaffed and on the defensive. That’s been good news for tax cheats, the rich, and big corporations — but not for the poor.
For those who did not catch the brilliant humor….the lady looks out expecting to see someone rescuing her from a fire, rather than rescue her and put out the fire…he is there to add insult to injury, (actually injury to injury).
When wealth inequality becomes too great, the people will revolt. You are seeing it in real time in Sri Lanka and Malaysia. Let’s not get to that point in the US.
Drawn by a “law and order” right leaner. What—is Ms. Benson showing sympathy for tax cheats? Maybe this falls into the Republican mantra “No New Taxes!!”
Increasing funding for the IRS will enable them to go after the BIG cheaters. Years of cost-cutting at the IRS resulted in them going after lower income people that couldn’t afford expensive attorneys and lawyers. The IRS wouldn’t get much, but it was all they could do. Lisa, how much have you been cheating on your taxes? Is that you in the tower and is it filled with untaxed wealth?
Democrats showed they were able to politically weaponize the IRS during the Obama administration. Now they are taking the gloves off by spending $80 BILLION to hire 87,000 additional IRS agents. To put that into perspective that will give the IRS more employees than the Pentagon, State Department, FBI and Border Patrol combined. Don’t think that they will be targeting the rich multimillionaires, billionaires and corporations, those ladies have accountants and CPAs to do their taxes. It’s the middle class and below who will be targeted and while Republicans, conservatives and non liberal/Democrat organizations will get extra scrutiny, don’t think any of you liberals will be exempt. They’re coming for you Buddy.
The difference only between Mafia and Government is the Mafia does not have a fifteen thousand hour system of indoctrination during your formative years to convince you its activities are something other than organized crime.
Over 230 Economists Give Dire Warning About ‘Inflation Reduction Act,’ Say It Will Make Inflation WorseBY BECKY NOBLEAUGUST 5, 2022 AT 2:31PM
As Democrats prepare to double down on the reckless economic policies of the Biden administration, a letter signed by over 230 economists was sent to both the House and Senate, warning that the impending Inflation Reduction Act does nothing of the sort.
That in fact, passage of the bill will only add fuel to the fire making already 40-year high inflation even worse, contradicting assertions made by President Joe Biden and Democrats about the bill.
The bill, which now has all 50 Democrats on board, is expected to be passed on Saturday without a single Republican vote.
Lance Gooden@LancegoodenThe “Inflation Reduction Act” will reduce inflation as much as the “Affordable Care Act” made healthcare affordable.1:26 PM · Aug 4, 2022·Twitter for iPhone
No Economic SlouchesThe signers of the letter sent to Congress are not economic novices. They include Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, former director of the Office of Management and Budget Jim Miller, and former president of the Federal Reserve Board Robert Heller.
In addition, professors from the University of Chicago, Princeton University, Duke University, University of Virginia, Columbia, and the University of Notre Dame signed on to the letter.
casonia2 over 1 year ago
Hunh?
suv2000 over 1 year ago
Better take everything she’s been living in poverty
Judge Magney over 1 year ago
The Inflation Reduction Act includes significant funding to enhance/restore the IRS’s ability to enforce compliance among higher-income taxpayers and thereby raise additional revenue and reduce the deficit. In simple terms, hire more auditors and enforcement agents and turn them loose on rich folks who, as a group, are noted for underpaying their federal taxes. Lisa has one important point right – they’re going to target the economic aristocracy. Why Lisa Benson thinks this is a Bad Thing lacks a rational foundation. But she’s also forgotten that the princess in the tower had long, long, long hair, which most schoolchildren still know.
sevaar777 over 1 year ago
Yes, and the Jewish space lasers started the fire. The MTG (Marg. Taylor Green) is strong in this one, Obi-Wan…
braindead Premium Member over 1 year ago
Lisa again show off her knowledge of economics and her awesome Trump Disciple analysis skills.
VegaAlopex over 1 year ago
Given Drumpf gets away with his lies, why not corporate lies as well? Boo! They’re coming for the tax cheats. Aren’t you one of them?
superposition over 1 year ago
I was audited once; ended up getting a bigger refund. Why would an honest responsible taxpayer fear an audit?
Masterskrain Premium Member over 1 year ago
Lyin’ Lisa… wrong again… as usual.
FrankErnesto over 1 year ago
Plug, eliminate tax loopholes for the rich. Only need a few honest Republicans to get it done. /S
Stephen Runnels Premium Member over 1 year ago
It’s Lisa’s “Be afraid of my imaginary empty declaration” Saturday.
Tomato Dog over 1 year ago
“I’m from the government, and I’m here to help!”
NeedaChuckle Premium Member over 1 year ago
Not only don’t they pay a lot in taxes, they get millions in govt subsidies!!!
The Nodding Head over 1 year ago
I knew a high-level IRS auditor. He went after the high level targets—big companies, the very wealthy. One of our accounting professors told me that he was well known—and feared. And when he retired, he was not replaced.
Easier to audit the middle class—it can be done largely by computers.
pmcgd4 over 1 year ago
Recall how Obama weaponized the IRS and they went after conservative groups – perhaps Lisa sees this in the future.
piper_gilbert over 1 year ago
Drunk cartooning?
Patrick Murphy Premium Member over 1 year ago
87,000 new agents. 5 million rounds of ammunition at $725,000. Nothing to see here, move along.
GiantShetlandPony over 1 year ago
Most interestingly the only suspect tax audits are at the hands of the Republicans trying to punish those that didn’t goosestep from 2016 all the way to the insurrection with them.
https://www.cnn.com/2022/07/08/opinions/irs-audit-comey-and-mccabe-weaponizing-administrative-state-hemmer/index.html
librarylady59 over 1 year ago
I am laughing. Absolutely absurd. IRS: Sorry, but It’s Just Easier and Cheaper to Audit the PoorCongress asked the IRS to report on why it audits the poor more than the affluent. Its response is that it doesn’t have enough money and people to audit the wealthy properly. So it’s not going to.
https://www.propublica.org/article/irs-sorry-but-its-just-easier-and-cheaper-to-audit-the-poor
librarylady59 over 1 year ago
GUTTING THE IRSWho Wins When a Crucial Agency Is DefundedA multiyear campaign to slash the IRS budget has left it understaffed and on the defensive. That’s been good news for tax cheats, the rich, and big corporations — but not for the poor.
https://www.propublica.org/series/gutting-the-irs
IndyW over 1 year ago
I got audited once. My accountant dealt with it. No big deal and had nothing to hide so what does it matter?
Valiant1943 Premium Member over 1 year ago
Why would we want to audit the rich? Hahahahaha!
BoydAdams over 1 year ago
For those who did not catch the brilliant humor….the lady looks out expecting to see someone rescuing her from a fire, rather than rescue her and put out the fire…he is there to add insult to injury, (actually injury to injury).
Radish the wordsmith over 1 year ago
So when Trump buried his wife on the golf course he got a tax break?
Is it normal to bury bodies on a golf course or is that just a mob boss thing?
jader3rd over 1 year ago
Raising taxes on the rich reduces the amount of money in circulation, which reduces taxes.
I Play One On TV over 1 year ago
When wealth inequality becomes too great, the people will revolt. You are seeing it in real time in Sri Lanka and Malaysia. Let’s not get to that point in the US.
MG over 1 year ago
Drawn by a “law and order” right leaner. What—is Ms. Benson showing sympathy for tax cheats? Maybe this falls into the Republican mantra “No New Taxes!!”
apfelzra Premium Member over 1 year ago
I think she was expecting the Fire Dept., but Ms. Benson’s logic isn’t always easy to discern.
zerorest over 1 year ago
If that is a McMansion I say go for it.
Nantucket Premium Member over 1 year ago
Increasing funding for the IRS will enable them to go after the BIG cheaters. Years of cost-cutting at the IRS resulted in them going after lower income people that couldn’t afford expensive attorneys and lawyers. The IRS wouldn’t get much, but it was all they could do. Lisa, how much have you been cheating on your taxes? Is that you in the tower and is it filled with untaxed wealth?
Rich Douglas over 1 year ago
Weird. Funny how “law and order” Republicans HATE the idea of income tax laws being enforced.
Radish the wordsmith over 1 year ago
Democrats Beat Republicans for Control of Congress in 4 Polls in Past Week
https://www.msn.com/en-us/news/politics/democrats-beat-republicans-for-control-of-congress-in-4-polls-in-past-week/ar-AA104v5D?ocid=msedgntp&cvid=5f65313e07bb405393b175df4be7c30f
Kracklin Rosie - “Tolo Dan Nan Galad” Premium Member over 1 year ago
Democrats showed they were able to politically weaponize the IRS during the Obama administration. Now they are taking the gloves off by spending $80 BILLION to hire 87,000 additional IRS agents. To put that into perspective that will give the IRS more employees than the Pentagon, State Department, FBI and Border Patrol combined. Don’t think that they will be targeting the rich multimillionaires, billionaires and corporations, those ladies have accountants and CPAs to do their taxes. It’s the middle class and below who will be targeted and while Republicans, conservatives and non liberal/Democrat organizations will get extra scrutiny, don’t think any of you liberals will be exempt. They’re coming for you Buddy.
ncorgbl over 1 year ago
That must be tRump Tower.
Incredulous over 1 year ago
The difference only between Mafia and Government is the Mafia does not have a fifteen thousand hour system of indoctrination during your formative years to convince you its activities are something other than organized crime.
stealth694 over 1 year ago
Better yet,,, Audit Biden, Pelosi, Schumer and Schiff and see what you will find.
cdbro over 1 year ago
Over 230 Economists Give Dire Warning About ‘Inflation Reduction Act,’ Say It Will Make Inflation WorseBY BECKY NOBLEAUGUST 5, 2022 AT 2:31PM
As Democrats prepare to double down on the reckless economic policies of the Biden administration, a letter signed by over 230 economists was sent to both the House and Senate, warning that the impending Inflation Reduction Act does nothing of the sort.
That in fact, passage of the bill will only add fuel to the fire making already 40-year high inflation even worse, contradicting assertions made by President Joe Biden and Democrats about the bill.
The bill, which now has all 50 Democrats on board, is expected to be passed on Saturday without a single Republican vote.
Lance Gooden@LancegoodenThe “Inflation Reduction Act” will reduce inflation as much as the “Affordable Care Act” made healthcare affordable.1:26 PM · Aug 4, 2022·Twitter for iPhone
No Economic SlouchesThe signers of the letter sent to Congress are not economic novices. They include Nobel laureate Vernon Smith, former Chair of the Council of Economic Advisers Kevin Hassett, former director of the Office of Management and Budget Jim Miller, and former president of the Federal Reserve Board Robert Heller.
In addition, professors from the University of Chicago, Princeton University, Duke University, University of Virginia, Columbia, and the University of Notre Dame signed on to the letter.
198.23.5.11 over 1 year ago
If those two phonies Paul&McConnell havemadeANY public statement about the floods in their state,it sure hasn’t made the East Coast papers.
Water?What Water?Donald Duck is a Communist!!
grange Premium Member over 1 year ago
“The Democrats” are not responsible for that decision.
Scoutmaster77 over 1 year ago
Where there’s smoke there’s fire? Is this implying that the GOP condones tax cheats?
USN1977 over 1 year ago
If the bill does not do at least one of the following:
1.) Reinstate the gold standard.
2.) Bring back silver certificates and silver coins as money.
3.) Repeal Nixon’s welching on foreign nations by allowing creditors to collect debts owed to them by the U.S. government in gold.
4.) Dissolve the Federal Reserve.
…then the name “Inflation Reduction Act” is mislabeled.