Wargames
One Of The Last Real Ones To Do It
Can’t let motherfukkers have nothing 
Biden is checking bank accounts that's over $600?
- Thread starter Secure Da Bag
- Start date
Propaganda
Superstar
jeez...biden must have a lot of free time on his hands.
dora_da_destroyer
Master Baker
how about they pocket watch billionaires before worrying about low-middle class cash earning workers who they feel aren't paying all the taxes they owe
Coli agents love dropping these Drudge Report fake news stories. Keep an eye on this one. Wish this site let us flag other posters
ADevilYouKhow
Rhyme Reason
lol come on
President Biden seeks $80 billion to boost IRS tax audits - CNNPolitics
hike reports 03:15
(CNN)President Joe Biden will seek $80 billion to fund enhanced Internal Revenue Service enforcement of high-earners to help pay for his American Families Plan, which he is set to unveil later this week, two sources briefed on the proposal told CNN.
The administration believes the enhanced measures to crack down on tax evasion will increase revenue for the government by $700 billion, although some outside experts are skeptical and the Congressional Budget Office -- the accepted scorekeeper -- is unlikely to project that much revenue.
As CNN has reported, this is a component of how Biden plans to finance his proposal, with the tax increases on the individual side for the wealthy making up a more significant and tangible chunk.
Previous administrations have touted beefing up IRS enforcement to raise money, and while there are definitely large sums that can be pulled in, it remains to be seen whether it will be as much as Biden's team thinks.
The topline spending proposal for the enhanced IRS enforcement component of the plan was first reported by The New York Times.
Biden is poised to unveil a roughly $1.5 trillion legislative proposal to invest hundreds of billions of dollars into key Democratic priorities on education, child care and paid leave this week. It will be the second part of a sweeping $4 trillion spending proposal, the first of which was a roughly $2 trillion infrastructure and jobs plan.
Biden is planning to use his remarks to the joint session of Congress on Wednesday night to highlight the proposal's key components.
The details of the plan are still being worked out and the total cost of the plan has seemingly fluctuated by the day, according to people briefed on its structure. But the American Families Plan is expected to land somewhere between $1.5 and $1.8 trillion, the people say.
The plan's key elements, which White House officials tell CNN have been very fluid over the past week, include child care funding, free community college, universal pre-K, paid family and medical leave, extending the expanded child tax credit to 2025, extending the expanded Earned Income Tax Credit and extending expanded Affordable Care Act subsidies.
In addition to the enhanced IRS enforcement, the financing of the plan includes raising the top marginal rate to 39.6% from 37% -- back to the top rate prior to the 2017 tax cuts -- and raising the capital gains rate for people making more than $1 million to 39.6%, from 20%. The 3.8% Affordable Care Act surtax would still apply, which would push the number north of 43%.
The plan will be the second part of a proposal to help the nation's economy recover from the coronavirus pandemic. Biden unveiled the first part, his infrastructure and jobs proposal, last month.
The American Jobs Plan would heavily invest in rebuilding the nation's crumbling infrastructure and shift to greener energy over the next eight years. The President says he plans to pay for his proposal by raising corporate taxes and eliminating tax breaks for fossil fuels, which was one of his core campaign promises.
Biden would raise the corporate income tax rate to 28%, up from 21%. The rate had been as high as 35% before former President Donald Trump and congressional Republicans cut taxes in 2017. The White House says this corporate tax hike would raise more than $2 trillion over the next 15 years.
The proposal includes building or retrofitting more than 2 million homes or housing units, replacing every lead pipe in the country and ensuring that all Americans have access to affordable, reliable and high-speed broadband. It also calls for investments in manufacturing, transportation, research and development, bolstering caregiving for aging and disabled Americans and building new public schools and upgrading existing buildings
hike reports 03:15
(CNN)President Joe Biden will seek $80 billion to fund enhanced Internal Revenue Service enforcement of high-earners to help pay for his American Families Plan, which he is set to unveil later this week, two sources briefed on the proposal told CNN.
The administration believes the enhanced measures to crack down on tax evasion will increase revenue for the government by $700 billion, although some outside experts are skeptical and the Congressional Budget Office -- the accepted scorekeeper -- is unlikely to project that much revenue.
As CNN has reported, this is a component of how Biden plans to finance his proposal, with the tax increases on the individual side for the wealthy making up a more significant and tangible chunk.
Previous administrations have touted beefing up IRS enforcement to raise money, and while there are definitely large sums that can be pulled in, it remains to be seen whether it will be as much as Biden's team thinks.
The topline spending proposal for the enhanced IRS enforcement component of the plan was first reported by The New York Times.
Biden is poised to unveil a roughly $1.5 trillion legislative proposal to invest hundreds of billions of dollars into key Democratic priorities on education, child care and paid leave this week. It will be the second part of a sweeping $4 trillion spending proposal, the first of which was a roughly $2 trillion infrastructure and jobs plan.
Biden is planning to use his remarks to the joint session of Congress on Wednesday night to highlight the proposal's key components.
The details of the plan are still being worked out and the total cost of the plan has seemingly fluctuated by the day, according to people briefed on its structure. But the American Families Plan is expected to land somewhere between $1.5 and $1.8 trillion, the people say.
The plan's key elements, which White House officials tell CNN have been very fluid over the past week, include child care funding, free community college, universal pre-K, paid family and medical leave, extending the expanded child tax credit to 2025, extending the expanded Earned Income Tax Credit and extending expanded Affordable Care Act subsidies.
In addition to the enhanced IRS enforcement, the financing of the plan includes raising the top marginal rate to 39.6% from 37% -- back to the top rate prior to the 2017 tax cuts -- and raising the capital gains rate for people making more than $1 million to 39.6%, from 20%. The 3.8% Affordable Care Act surtax would still apply, which would push the number north of 43%.
The plan will be the second part of a proposal to help the nation's economy recover from the coronavirus pandemic. Biden unveiled the first part, his infrastructure and jobs proposal, last month.
The American Jobs Plan would heavily invest in rebuilding the nation's crumbling infrastructure and shift to greener energy over the next eight years. The President says he plans to pay for his proposal by raising corporate taxes and eliminating tax breaks for fossil fuels, which was one of his core campaign promises.
Biden would raise the corporate income tax rate to 28%, up from 21%. The rate had been as high as 35% before former President Donald Trump and congressional Republicans cut taxes in 2017. The White House says this corporate tax hike would raise more than $2 trillion over the next 15 years.
The proposal includes building or retrofitting more than 2 million homes or housing units, replacing every lead pipe in the country and ensuring that all Americans have access to affordable, reliable and high-speed broadband. It also calls for investments in manufacturing, transportation, research and development, bolstering caregiving for aging and disabled Americans and building new public schools and upgrading existing buildings
You think they're gonna take on corporations with a mountain of lawyers in house and 2 outside law firms on retainers? Man us poor are getting fukked left and right. Absolutely no one cares either
This isn’t about the middle class, this is about Banks reporting Unusual activity in accounts with low balances
This is about the government cracking down on the use of cash, crypto transactions and etc which is mostly middle to lower class people who are trying to make some moves for themselves and may not have the credit to do so otherwise
crackdown on the use of cash
If people are selling crypto for gains then it should be taxed
dora_da_destroyer
Master Baker
this is not about unusual activity, it's about finding hidden taxable dollars. not sure why the second article talks about this targeting high earners with $600 being a low threshold and high earners having income in other assets besides cash, or in the case of high paid professional workers - most income is earned via their job (stocks & salary + bonus) which is already captured.
this shyt is going to get people who have side gigs, under the table/cash jobs caught up. you reporting IRS verifiable income (W2) of 30k, but have another 15k in cash going in and out your bank, the IRS is trying to find it. this will target the lower and middle class just like our current auditing system does
if they want to target high earners, and the rich, then monitor and tax other asset classes, not $601 bank accounts
You find the hidden tax dollars by having the banks report the transactions on the account and investigate the unusual activity
this is just a requirement for banks to report
the IRS can access anyone’s bank account upon request if they want to
Wargames
One Of The Last Real Ones To Do It
Yep, this is aimed at the Venmo/gig economy and it's funny Biden is talking about a rich person tax that legit might not pass.
This is for all intents and purposes a new middle class/working class tax that he just ordered and nobody peeped it. Biden really aint shyt but people love voting in these old ass white moderates and acting like they wont fukk them over.
This is for all intents and purposes a new middle class/working class tax that he just ordered and nobody peeped it. Biden really aint shyt but people love voting in these old ass white moderates and acting like they wont fukk them over.
How is this aimed at Gig economy?
If you’re paid as contractor then the IRS knows how much tax you should know
if you’re getting paid under table by Venmo or cash then you don’t get to avoid taxes
This also helps the IRS find people doing scams and illegal shyt that’s moving money through accounts with low balances