Joe Biden wants to hire an army of new IRS agents to probe the dealings of American citizens in order to ensure their compliance with his new taxes. Joseph Simonson reports in The Washington Free Beacon:
Under the Inflation Reduction Act negotiated by Sen. Joe Manchin (D., W.Va.), the agency would receive $80 billion in funding to hire as many as 87,000 additional employees. The increase would more than double the size of the IRS workforce, which currently has 78,661 full-time staffers, according to federal data.
The additional IRS funding is integral to the Democrats’ reconciliation package. A Congressional Budget Office analysis found the hiring of new IRS agents would result in more than $200 billion in additional revenue for the federal government over the next decade. More than half of that funding is specifically earmarked for “enforcement,” meaning tax audits and other responsibilities such as “digital asset monitoring.”
That would make the IRS one of the largest federal agencies. The Pentagon houses roughly 27,000 employees, according to the Defense Department, while a human resources fact sheet says the State Department employs just over 77,243 staff. The FBI employs approximately 35,000 people, according to the agency’s website, and Customs and Border Protection says it employs 19,536 Border Patrol agents.
The money allocated to the IRS would increase the agency’s budget by more than 600 percent. In 2021, the IRS received $12.6 billion.
Action Line: How will auditing more small businesses reduce inflation? It won’t, but cracking down on “waste, fraud, and abuse,” is the easiest way for politicians to make their big spending packages look like they’ve been paid for. Stick with me and we’ll weather this storm together.
E.J. Smith - Your Survival Guy
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