US MidTerm Elections - Predictions....., page-340 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by thecurious1: ↑

More Trumpist Fake News from the RNC, selectively quoting the CBO. Emphasis added.

Republicans didn't oppose past increases but now, Trumpists do.

Audit rates will to return to the levels they were some 10 years ago.

"dont bother arguing it isnt." - classic Trumpisim.

Will you now add Treasury to your ever expanding list of lefty infested departments ?

"Fact check: Will 87,000 new IRS agents mean more audits for middle-class families and small businesses?

Last week, The Republican National Committee claimed that the increased budget and its subsequent recruitment of nearly 87,000 IRS agents would lead to “poorer” Americans and small businesses being targeted with audits.

The IRS says the $80 billion boost will go towards operational upgrades, customer service updates, systems modernization, and “increased enforcement.”

According to IRS Commissioner, Charles P. Rettig, the IRS will not increase the number of audits being performed on households earning less than $400,000.

“These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans,” Rettig wrote in a letter to Congress. “As we have been planning, our investment of these enforcement resources is designed around Treasury’s directive that audit rates will not rise relative to recent years for households making under $400,000.”

Since 2010, Congress has reduced the agency’s budget by nearly 20%, according to the IRS’ Taxpayer Advocate Service. Last year, the IRS employed almost 79,000 people but has seen an increase in operating costs, now totaling upwards of $13 billion.

Earlier this year, the agency hired 10,000 more agents as reinforcement in order to assist in clearing a backlog of more than 20 million unprocessed tax returns, the Associated Press reported.

Congressional Budget Office analysis from 2021 and IRS debunk claims

The mass hiring went largely unopposed by Republican lawmakers. Now, the RNC claims that putting the IRS “on steroids” will lead to unfair auditing practices.

“The (Congressional Budget Office) found that increased funding for IRS enforcement leads to ‘higher audit rates’ for all taxpayers, including those who ultimately do ‘not owe any additional taxes,’” the RNC states on their website.

The 2021 analysis from the Congressional Budget Office was not included with full context on the RNC site. While the CBO did estimate that audit rates would rise for all taxpayers, it also concluded that high-income taxpayers would ultimately bear the brunt of IRS enforcement.

“The proposal, by contrast, would return audit rates to the levels of about 10 years ago; the rate would rise for all taxpayers, but higher-income taxpayers would face the largest increase,” the CBO stated."

https://www.yorkdispatch.com/story/money/2022/08/10/fact-check-87-k-new-irs-agents-mean-more-audits-middle-class-families-and-small-businesses/10285106002/

(No map, no link, no surprise)

Expand

"Will you now add Treasury to your ever-expanding list of lefty infested departments ?"

Easy question for you ...did Lois Lerner unfairly turn the power of the IRS onto Conservative groups?