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‘Swamp Math’: Treasury Sec. Yellen Comes to the US House After $1.7 Trillion Budget is Released

‘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?

Why do they keep telling us that energy costs have gone down?

Who will be audited?



Things are getting hot in here…

This budget is not reducing the budget.

“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.”

Watch here:


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2smartforlibs | March 10, 2023 at 1:34 pm

The best part is it’s only a wish list now. Under the previous cabal, it would have been a sure bet.

Congressman Smith is hard to listen to. But I applaud him for succeeding in politics with that voice.

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

    CommoChief in reply to gonzotx. | March 10, 2023 at 7:36 pm

    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.

Is it me, but does Janet Yellin sound like a dullard every time she speaks?

stevewhitemd | March 10, 2023 at 2:16 pm

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.

Subotai Bahadur | March 10, 2023 at 2:41 pm

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?

healthguyfsu | March 10, 2023 at 3:02 pm

It is impossible to spend your way out of debt.

much more likely to audit taxpayers of color

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.

    Subotai Bahadur in reply to randian. | March 10, 2023 at 7:19 pm

    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

    CommoChief in reply to randian. | March 10, 2023 at 7:28 pm

    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.