By Bob Unruh,
The new army is being created by the Democrats’ reconciliation bill already adopted by the Senate.
The Joint Committee on Taxation, a nonpartisan watchdog, says up to 90% of the billions in additional taxes the IRS is expected to collect will come from small businesses with incomes of less than $200,000 per year.
Green said, on social media, “87,000 IRS agents will be hired with $80 billion taxpayer dollars when the Senate Reconciliation bill passes this weekend. … Lower to middle income Americans and small businesses will be the primary targets of Democrats’ new IRS force.”
She continued, “This new version of Biden’s Build Back Better more appropriately named Bring Back Blackouts bc of it’s insane foolish energy failing agenda will force Americans literally in the dark.”
The Democrats’ oddly named “Inflation Reduction Act,” because studies show it actually will increase inflation, is the result of Democrat pressure on Sen. Joe Manchin, a Democrat who earlier had resisted his party’s demands to spend trillions of dollars the nation doesn’t have on a Democrat wish list of green and other programs.
He finally caved, and agreed to support this tax-and-spend program that was adopted by the Senate on a 51-50 vote over the weekend.
The new taxes
It is Americans for Tax Reform that has listed the new taxes Americans will pay, including a multitude of taxes that will prove Joe Biden was not speaking truthfully when promised not to raise taxes on anyone making less than $400,000 a year.
Those include a $6.5 billion natural gas tax that will hit household energy costs – a “regressive tax on American oil and gas development” that will “drive up the cost of household energy bills.”
“The tax hike violates President Biden’s tax pledge to any American making less than $400,000 per year. Biden administration officials have repeatedly admitted taxes that raise consumer energy prices are in violation of President Biden’s $400,000 tax pledge,” ATR reported.
Then there’s the “$12 billion crude oil tax” that also will raise house household energy costs.
This tax, too, “violates President Biden’s tax pledge to any American making less than $400,000 per year.”
And there’s the $1.2 billion coal tax that “will increase household energy bills,” the ATR said.
“The bill would more than double current excise taxes on coal production. Under the Democrat proposal, the tax rate on coal from subsurface mining would increase from $0.50 per ton to $1.10 per ton while the tax rate on coal from surface mining would increase from $0.25 per ton to $0.55 per ton.”
Then there’s the 15% “corporate alternative minimum tax on the financial statement income of American businesses reporting $1 billion in profits for the past three years.”
The ATR said, “The cost of this tax increase will be borne by working families in the form of higher prices, fewer jobs, and lower wages. A Tax Foundation report from last December found a 15 percent book tax would reduce GDP by 0.1 percent and kill 27,000 jobs.”
The ultimate cost to consumers? $313 billion.
Also in the bull’s-eye are retirement programs, because of a new $124 billion stock tax – which also will target union retirement plans.
And then there’s the fact that many new drugs and medical treatments may not be developed because of Biden’s 95% federal excise tax on American pharmaceutical manufacturers.
Mid-sized and family businesses will pay an additional $52 billion for the Democrats’ changes to passthrough businesses with declared losses.
Disclaimer: We at Prepare for Change (PFC) bring you information that is not offered by the mainstream news, and therefore may seem controversial. The opinions, views, statements, and/or information we present are not necessarily promoted, endorsed, espoused, or agreed to by Prepare for Change, its leadership Council, members, those who work with PFC, or those who read its content. However, they are hopefully provocative. Please use discernment! Use logical thinking, your own intuition and your own connection with Source, Spirit and Natural Laws to help you determine what is true and what is not. By sharing information and seeding dialogue, it is our goal to raise consciousness and awareness of higher truths to free us from enslavement of the matrix in this material realm.