‘Swamp Math’: Treasury Sec. Yellen Comes to the US House After $1.7 Trillion Budget is Released
Secretary Yellen: “Algorithms…the IRS may be using are racially biased…much more likely to audit taxpayers of color.”
The Ways and Means Committee is questioning Secretary Yellen about Biden’s massive tax hikes and the IRS’s repeated abuse of taxpayers. Here are some soundbites from the hearing:
What if Race is available—will they use it to determine audits?
YELLEN: "Algorithms…the IRS may be using are racially biased…much more likely to audit taxpayers of color."
REP. SMITH: "You'll never use race or gender in deciding audits?"
YELLEN: "Race is not available." pic.twitter.com/3EMVZuMBlS
— Daily Caller (@DailyCaller) March 10, 2023
Why do they keep telling us that energy costs have gone down?
Janet Yellen says Biden's work to "provide cost relief in areas like energy" has "made a meaningful difference for American families."
What is she talking about? Electricity is up 11.9%, fuel oil is up 27.7%, and natural gas is up 26.7% over last year.
— American.357 (@ASimplePatriot) March 10, 2023
Who will be audited?
🚨🚨Secretary Yellen just admitted before @WaysandMeansGOP that 90% of new audits under the Inflation Act will be on families and small businesses, not "billionaires and tax cheats."
That is exactly why @HouseGOP passed my bill with @RepSteel to rescind this funding. ⤵️ pic.twitter.com/nqmslEo4t0
— Rep. Adrian Smith (@RepAdrianSmith) March 10, 2023
<ROLL EYES>
Today I pushed Treasury Secretary Yellen to go after rich tax cheats and stop disproportionately targeting poor people with audits. I’m delighted she agreed. pic.twitter.com/NZPCJ0jeC8
— Bill Pascrell, Jr. 🇺🇸🇺🇦 (@BillPascrell) March 10, 2023
Um?
Democrats funded 87,000 IRS agents to go after hardworking Americans.
It’s now very concerning that the agency is buying up ammunition & firearms.
Sec. Yellen won’t commit to sending Congress a report on the matter – what are they hiding? pic.twitter.com/PUmrduVlUu
— Congressman Drew Ferguson (@RepDrewFerguson) March 10, 2023
FACT CHECK: The IRS has 4,600 guns and 5 million rounds of ammunition at last count.
How many more guns will the IRS buy now? https://t.co/RCDfa647U3 https://t.co/eHn5aLh4AI
— Mike Palicz (@Mike_Palicz) March 10, 2023
Things are getting hot in here…
Rep. Mike Kelly (R-PA) to Secretary of the Treasury Janet Yellen just now: "I don't give a shit if you wear a red hat or a blue hat- wear something that's red, white, and blue and look at how it is that you represent back home" pic.twitter.com/90TyeUfMVr
— Aaron Fritschner (@Fritschner) March 10, 2023
This budget is not reducing the budget.
Swamp Math strikes again. Watch my questions to Treasury Sec. Janet Yellen. The Biden administration is NOT reducing the deficit. This budget doubles down on historically high spending resulting in higher deficits. This is an unsustainable fiscal path. pic.twitter.com/R6LhxxXgIh
— Rep. Lloyd Smucker (@RepSmucker) March 10, 2023
After Democrats handed the IRS an $80 billion raise last year, taxpayers are now asked in this budget to hand the IRS another $43.2 billion?
I have to ask: Is this a joke? pic.twitter.com/Ya1QHcv4rb
— Rep. Jason Smith (@RepJasonSmith) March 10, 2023
The President’s $4.7 trillion tax hike means more pain for working Americans, more help wanted signs on main street, and higher energy costs. pic.twitter.com/JuWHbm86Wr
— Rep. Jason Smith (@RepJasonSmith) March 10, 2023
Today in a @WaysandMeansGOP hearing, I questioned Secretary Yellen about President Biden's reckless budget that continues the administration's path of out-of-control spending and higher taxes. pic.twitter.com/182k9XaBNE
— Rep. Ron Estes (@RepRonEstes) March 10, 2023
The Biden Admin continues to negotiate a global tax surrender with the OECD without consulting with Congress.
Treasury must work with Congress to ensure that American jobs & taxpayer dollars are protected. Joe Biden’s global tax deal is a threat to American jobs & tax revenue. pic.twitter.com/wNpFf6M3EH
— Rep. Claudia Tenney (@RepTenney) March 10, 2023
“There are recent developments that concern a few banks that I’m monitoring very carefully. And when banks experience financial losses, it is and should be a matter of concern.”
.@SecYellen on Silicon Valley Bank: "There are recent developments that concern a few banks that I'm monitoring very carefully. And when banks experience financial losses, it is and should be a matter of concern." pic.twitter.com/JoIoHnOaLu
— CSPAN (@cspan) March 10, 2023
Watch here:
📺LIVE: Republicans are questioning Secretary Yellen about Biden's massive tax hikes & the IRS's repeated abuse of taxpayers.
Tune in: https://t.co/qUKWUOJek6
— Ways and Means Committee (@WaysandMeansGOP) March 10, 2023
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Comments
The best part is it’s only a wish list now. Under the previous cabal, it would have been a sure bet.
This woman is a corrupted idiot.
Congressman Smith is hard to listen to. But I applaud him for succeeding in politics with that voice.
Yes
Beyond that she’s not advocating reducing government spending, there’s no news here.
Cut everything 10% would be a better strategy but you don’t expect it from dems.
Cut everything 2%
Flat rate taxes and abolish the IRS
Unless you want a shift to the ‘fair tax’, in essence a National sales tax at 30% w/o any exemptions, you still need the IRS. Even a straight forward simple 20% flat income tax requires an agency to make sure everyone is actually paying the full 20% owed on all the income.
Personally I would rather have the ‘fair tax’ b/c it gets rid of the most intrusive portions of the IRS regarding individual taxpayers. Retailers would collect it at the register and send it to Treasury just like they do with current sales tax they send to the State Capital.
The press is flacking Biden’s claims as if they were written on golden tablets. If you believe him, the US will break even by the next election and start paying off the whole debt by the end of his second term, while rich tax evaders will be waterboarded and rich corporations will somehow pay for it all without passing a dime on to the consumers.
How confident are you that there will be a real “next election”?
Subotai Bahadur
Is it me, but does Janet Yellin sound like a dullard every time she speaks?
Thankfully it’s not just me that thinks she sounds like a moron every time she opens her mouth.
In olden days, we would have politely explained that poor Janet is “slow”.
Suggestion: let’s have a budget that uses the FY23 income and (say) FY19 spending.
Remember 2019? We didn’t have citizens dying in the streets, welfare moms starving, children going without milk, oceans boiling, etc., right? 2019 was actually pretty good. We met our obligations.
What would the deficit be if we simply re-implemented the 2019 budget with 2023 revenue?
Think about it — we don’t have a revenue problem, we have a spending problem.
OK, you know and I know that no matter how outrageous or even tyrannical the regime’s taxing and spending plan is; it will pass Congress intact.
You also know that buried within it will be even more violations of what used to be constitutional rights of citizens.
And if [and it might] there is some resistance in Congress to one point or another of this budget, you can be sure that said resistance will be overcome by GOPe votes.
Finally, any budget presented next year will be worse.
Subotai Bahadur
How do you expect them to enrich themselves with your money if they don’t take it from you first?
It is impossible to spend your way out of debt.
For average people that’s true. Not true though for the special interest entities who who use public $ to pay private debt.
Nonsense! Spend, Spend Spend then declare bankruptcy and look for a Brandon handout.
Perhaps taxpayers who just happen to be of color are more likely to have red flags in their tax returns, like a lot of cash income. Auditing in that case isn’t racist, and as Yellen says, the IRS doesn’t know your race before the audit.
They may not know your race before the audit decision, but if you are active in conservative politics, you can bet they know that and such increases your odds of an audit.
Subotai Bahadur
I believe it has to do with the higher rate of claims for items such as earned income tax credit and basic errors of things such as a dependent claimed by more than one person. Lower income folks and there are a lot of them make a higher rate of these sorts of errors. Mostly in good faith but some not. Either way the refundable tax credits represent tens of millions of returns with payments from Treasury to the public and I don’t have any issue with auditing to mitigate and deter fraud.
This ignorant gnome running around the world yammering about climate change and immigration which is nothing she has any purview over should not be taken seriously about anything.
Why are they asking her questions about pedo joe’s budget. Tell her she’s fucking nuts if they think they’re going to get that passed through the house.
They can’t even say the word balanced budget, success for them is just a projected reduction of the yearly deficit. They will not be able to grow the economy out of the deficits, they are taking in record revenue yet they can not come close to a balanced budget.
They have got so much mandated spending that significant cuts will be hard to find, then they play the little games by moving spending from discretionary to mandated. They pulled that little budget trick to the amount of $400 billion just last year.