(RightWing.org) – President Joe Biden’s beloved Build Back Better plan relies on funding generated from increased tax enforcement by IRS officials. The Congressional Budget Office (CBO) recently issued its cost estimate summary for the bill and, as expected, determined the costly measure would increase the deficit by a whopping $367 billion by the end of 2031. However, it did note tax enforcement efforts could put a dent in that figure. In short, the CBO offered an excuse for Biden to weaponize the IRS.
Perhaps, the best argument against such a move comes from Biden himself. He and his wife, Jill Biden, already set off a scandal earlier this year when the media reported the Biden’s avoided paying more than half a million dollars in taxes for Medicare and the ill-fated Obamacare program.
How the Bidens Dodged the Payroll Tax https://t.co/V1TopiIg3p
— Matt Wolking (@MattWolking) September 28, 2020
How did the Biden’s accomplish that feat? Using a loophole in the tax code, they set up an S-corporation to shelter money the dynamic duo raked in from book sales and speaking engagements. In short, they used a somewhat sketchy bookkeeping sleight of hand to list those earnings as corporate profits, effectively dodging paying taxes since the money no longer appeared to IRS officials as taxable wages.
Joe Biden Wants To Have The IRS Harass You While Dodging It Himself https://t.co/EtnmZf8K7O
— Lois Levine Fishman (@FishmanLevine) November 19, 2021
The bottom line is Biden wants to set loose the IRS attack dogs on hardworking Americans to fund his wasteful partisan infrastructure plan while enjoying the benefits of sheltering a significant portion of his family income from taxes. Hmmm.
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