Nancy Pelosi has been a fixture in Washington, D.C.’s Swamp for decades.
She thought she could count on the Swamp to have her back.
And Nancy Pelosi was fuming after the federal government revealed one important truth.
The wildly misnamed $700 billion Inflation Reduction Act Democrats passed on a party-line vote was a Trojan Horse for the Green New Deal.
After it passed, Democrats gave up pretending that the bill had anything to do with inflation and celebrated it as historic climate change legislation.
To pay for the socialist monstrosity, Democrats doubled the IRS’s budget to allow the agency to hire an additional 87,000 agents.
The goal is to get every last nickel out of taxpayers with increased audits.
Democrats said that the turbocharged IRS auditing would only be used on wealthy taxpayers who weren’t paying their fair share.
They claimed that poor and middle-class taxpayers wouldn’t get the hammer dropped on them from the beefed up IRS enforcement.
During the Senate debate over the bill, every Democrat Senator voted against an amendment that would have prohibited increased audits on taxpayers making less than $400,000.
One of the first actions of the new Republican House majority was to pass a bill cutting the funding for the 87,000 new IRS agents.
Former Speaker of the House Nancy Pelosi (D-CA) raged on social media after Republicans tried to reign in the IRS.
“It is shameful, but not surprising, that @HouseGOP’s first order of business in this Congress is to protect corporate America and ultra-wealthy individuals who are illegally avoiding taxes,” Pelosi said. “Last summer, Democrats enacted the Inflation Reduction Act: bolstering resources to ensure the wealthiest few & greediest corporations will pay what they owe.”
Pelosi looked like a fool after the federal government’s own data revealed who would bear the brunt of increased audits.
According to the IRS’s own data, the agency went after low-income taxpayers far more frequently than any other group in 2022.
Syracuse University’s Transactional Records Access Clearinghouse (TRAC) released IRS data on audits from the 2022 Fiscal Year that found a longtime trend continuing of targeting primarily low-income taxpayers.
“The taxpayer class with unbelievably high audit rates—five and a half times virtually everyone else—were low-income wage-earners taking the earned income tax credit,” TRAC wrote, adding that low-income taxpayers are “easy marks in an era when IRS increasingly relies upon correspondence audits yet doesn’t have the resources to assist taxpayers or answer their questions.”
The IRS picks on low-income taxpayers who don’t have the time or money to fight an audit and can be forced to settle without a fight.
“The odds that millionaires received a regular audit by a revenue agent (1.1%) was actually less than the audit rate of the targeted lowest income wage-earners whose audit rate was 1.27 percent!” TRAC added.
Since wealthy taxpayers have the resources to fight an expensive and lengthy battle with the IRS, the agency picks on the poor.
Nancy Pelosi delivered a punch in the gut to the low-income workers that she claims to care about.
Renewed Right will keep you up-to-date on any new developments in this ongoing story.