Earlier today, I wrote about the IRS adding over 80,000 agents, making it one of the largest government agencies.
The middle class, especially non-leftists, fear it will open up them to more audits.
CNBC host Brian Sullivan brought up the issue with White House Economic Advisor Jared Bernstein.
Guess how it went! Yeah, Bernstein avoided the question:
“President Biden has always maintained that no one under $400,000 will pay one penny more in taxes, so, line in the sand there,” he said.Bernstein said the legislation’s proposal to fund an additional $80 billion to the Internal Revenue Service (IRS) will close tax loopholes and avert tax evasion. Sullivan said small businesses will be spending more in taxes due to the bill, to which the economic adviser repeated that taxes will not raise on anyone making less than $400,000 a year.“So I want to be clear, is the president guaranteeing nobody making under $400,000 will be audited?” Sullivan asked.“No, no, no, no, that’s not what I said. Nobody under $400,000 will pay higher taxes under the Inflation Reduction Act,” Bernstein said. “Let’s be very clear about that. And look, you talk about small businesses, the minimum corporate tax kicks in at over $1 billion in profits…averaging over the past three years.” (RELATED: ‘Pure, Outright Lie’: Manchin, Harris Faulkner Spar Over Inflation Bill)“You’re conflating two issues, Jared,” Sullivan interjected. “I’m talking about small businesses that are S corps or family, you know not hedge fund managers. I’m talking about, if you’re doubling the size of the IRS, then who are they going to go after?”
CLICK HERE FOR FULL VERSION OF THIS STORY