Janet Yellen Admits 90 Percent of IRS Audits Will Slap Small Business and Families, Not Billionaires

Source: https://www.breitbart.com/politics/2023/03/10/janet-yellen-admits-90-percent-irs-audits-will-slap-small-business-families-not-billionaires/
Published: Mar 10, 2023
Author: Mike Rivero
Post Date: 2023-03-10 16:17:46 by Horse
Views: 263

Treasury Department Secretary Janet Yellen acknowledged on Friday that 90 percent of IRS audits will be conducted on small businesses and families, not billionaires.

Testifying before the House Ways and Means Committee, Rep. Adrian Smith (R-NE) questioned Yellen on the ambiguity of her opening statement. Smith prefaced his question by noting the 87,000 new IRS agents hired at the agency over the next decade to conduct tax enforcement on Americans.

“Regarding the audits, there has been confusion about the meaning of the directive that you cited,” Smith said in his line of questioning. “Are you talking about the total number of audits or the proportion of audits on families and small businesses under 400,000 dollars?”

“I’m talking about the proportion of those small businesses and families,” Yellen admitted.

Smith responded, “So the proportion is 90 percent. Ninety percent of the new audits will be, according to the data — that we can expect up to 90 percent of new audits on those making less than $400,000.”

Post Comment   Private Reply

#1: Esso    To: Horse, 4um (#0)

“So the proportion is 90 percent. Ninety percent of the new audits will be, according to the data — that we can expect up to 90 percent of new audits on those making less than $400,000.”

Esso posted on 2023-03-10 16:22:08   Reply   Private Reply

#2: TommyTheMadArtist    To: Horse (#0)

Wow. So who is the IRS really a weapon of? They aren’t a weapon of the poor against the rich now are they?

Makes you wonder why nobody in Congress or the senate seems interested in Defunding the hiring of 87000 door kickers. Because none of them are accountants, and none of them need to be qualified to be anything more than a door kicker.

TommyTheMadArtist posted on 2023-03-10 20:28:15   Reply   Private Reply

#3: StraitGate    To: Horse (#0)

up to 90 percent of new audits on those making less than $400,000

According to US Census data, fewer than 2% of US households make $400,000 or more. If the IRS were to spread its love uniformly, then the under $400,000 crowd would of course be blessed with more than 90% of the audits. (However, a lot of households in the sub-400k cohort have next to no income, and the IRS knows it wouldn't be able to wring much lucre from those poor folks.)

StraitGate posted on 2023-03-10 23:23:36   Reply   Private Reply

#4: Original_Intent    To: TommyTheMadArtist (#2)

If I recall correctly the house recently voted to take away the funding for the 87,000 new Gestapo. However, Schmucky Choomer contols the Senate and even if the bill were to make it all the way through Pedo Joe would veto it. As you know, and anyone else with any brains knows, the point of the bill was to suppress anyone rising up and earning enough and accumulating enough wealth to put up resistance to their subjugation and eventual elimination.

Original_Intent posted on 2023-03-11 02:01:31   Reply   Private Reply