In a tweet posted last September, House Republicans promised that their first act as the majority party would be to rescind the $80 billion or so allocated by the Inflation Reduction Act so that the IRS could hire 87,000 more agents. Marc Goldwein of the Committee for a Responsible Federal Budget, says a CBO analysis shows that pulling that $80 billion would end up increasing the federal deficit by $114 billion over a decade. It would also encourage tax cheating, but we’re not sure how it would do that, considering the Biden administration has promised us those 87,000 new employees would be tasked with IT support and answering taxpayer questions, not auditing someone who earned $600 on Etsy.
ANALYSIS – rescinding IRS funding will increase the deficit by 𝘄𝗲𝗹𝗹 𝗼𝘃𝗲𝗿 $𝟭𝟬𝟬 𝗯𝗶𝗹𝗹𝗶𝗼𝗻, encourage tax cheating, and cut the tax enforcement budget well below what President Trump wanted.https://t.co/0xRnKF99Rd
— Marc Goldwein (@MarcGoldwein) January 9, 2023
The CRFB writes:
The House is likely to vote today on a bill that would rescind roughly $70 billion of Internal Revenue Service (IRS) funding over the next decade. According to the Congressional Budget Office (CBO), the bill would increase deficits by more than $100 billion over the next decade while encouraging tax cheating, expanding the tax gap, and undermining a policy supported by every President since Ronald Reagan, including Donald Trump.
Last year, the Inflation Reduction Act appropriated roughly $80 billion to the IRS to expand operational support, modernize systems, improve customer service, and strengthen tax enforcement. According to recent estimates, 13 percent of taxes owed are never paid – mainly because of underreported income and overreported deductions and credits. CBO estimated the new IRS funding would improve compliance modestly, generating about $180 billion of revenue through 2031.
We were going to say it, but this guy already did: The CBO also said President Joe Biden’s cancelation of student loans would cost $400 billion.
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Oh. A fraction of the deficit impact from this move https://t.co/0Ox175cH65
— CTIronman (@CTIronman) January 9, 2023
How will the new agents “strengthen enforcement” if they’re just there to answer taxpayer questions?
So, flat tax.
— Patrick H. (@Patrick_am_I) January 9, 2023
Why don’t we push for the Fair Tax. Not flat tax, but Fair Tax. Look it up
— Capt David (@dch7386) January 9, 2023
You know what would lower the deficit?
Eliminate the IRS, pass a flat natl sales tax and “enforce” it at point of sale. If you want to pound the rich, add tax on luxury items and homes over X price.
We will collect more on the top end and spend a fraction in collection.
— Kendall Cameron (@tigerfan55) January 9, 2023
How about making a tax return that fits on a postcard?
Ok.
What's the downside?
— J (@ARaised_Eyebrow) January 9, 2023
— Bill Burke 🇺🇸 (@TaxManBoston) January 9, 2023
The federal income tax system is no longer about raising revenue for the government to operate. It's about controlling behavior and giving breaks to congressional donors. As the last 2 years have shown us, if Washington needs money, it just prints it.
— rusty stonelake (@collectorgrid) January 9, 2023
LOL no
— Goldens Rule (@jamesbranch3) January 9, 2023
The long term savings of salaries of the 87,000 IRS Special Agents. A Journeymen S/A base salary is 85,000+/year add in high cost area diff. & AUO of 25%, healthcare, retirement, a government car, etc & it’s more than 125,000+ a year x 87k agents = 10 Billion/year x 10yrs 100B
— RonX1811 (@RonX1811) January 9, 2023
🤡
— Mark Jaynes (@MarkJAloha) January 9, 2023
No one believes that.
— Steve (@priceiswrong86) January 9, 2023
So, by your math, if we SPEND LESS, the DEFICIT will go UP?
Fascinating.
— TrainedAntiMarxist (@NewProtectorate) January 9, 2023
I heard it was going to add a bazillion dollars to the deficit.
— T. L. (@TakingHisTime) January 9, 2023
How much does the @DNC pay you to post this BS?
— 🇺🇸Bluzguitar🚫🐂💩 (@bluzguitar) January 9, 2023
Here’s an idea instead of giving money to Ukraine next time pay for this instead.
— One Tweet Pony (@OneTweetPony) January 9, 2023
Your math is horrid.
— Jack Torrance 237 (@Lapo13) January 9, 2023
F the IRS.
— Prior Daniel Jackson (@BasedDJackson) January 9, 2023
Don’t just rescind the funding, eliminate the IRS entirely. We don’t trust anyone cheering for a larger IRS.
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Related:
Are you a 'true conservative' in the eyes of Bill Kristol? https://t.co/zWuoe0y86S
— Twitchy Team (@TwitchyTeam) January 3, 2023
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