President Biden’s “American Families Plan” apparently involves inviting federal agents to visit America’s families and comb through all their finances.
President Biden wants to pay for his new $1.8-trillion socialist spending proposal — to be distinguished from his previous $2.2T “infrastructure” plan and the $1.9T Covid relief bill — by spending $80 billion to expand tax enforcement by the IRS.
Seems like the only police the Biden White House loves are the ones at the IRS.
So the Deep State will get a little Deeper.
According to the Washington Post:
White House officials plan to make a massive increase in enforcement at the Internal Revenue Service a central component of the tax proposal they will unveil this week alongside a $1.8 trillion spending package, according to four people briefed on the matter.
President Biden’s “American Families Plan,” set to be released ahead of the president’s joint address to Congress on Wednesday, calls for devoting hundreds of billions of dollars to childcare, universal pre-kindergarten, and paid family and sick leave, among other domestic priorities.
The tax side of the plan to pay for those efforts includes increasing the amount of capital gains paid by investors above $1 million, as well as increasing the top income tax rate.
But likely the single biggest source of new revenue in the plan comes from dramatically expanding the clout of the nation’s tax agency. It seeks to beef up the number of agents and give the IRS new tools and technology to execute collections and crack down on avoidance, the people said. White House officials have eyed raising as much as $700 billion from toughening IRS enforcement and auditing over 10 years, two of the people said, although the precise amount in the plan remained unclear. Enforcement will be focused on wealthy Americans, the people said.
The people spoke on the condition of anonymity to discuss private administration deliberations. Officials cautioned the plan had not been finalized. White House officials are looking at increasing the agency’s budget by $80 billion over 10 years