USA 2024 Elections Thread

[grarpamp]

Americans hate taxes, though Biden the Weasel
will delay enforcement until after midterms,
the US people will still revolt against Dems bankrupt Socialism...


Biden-Dems add nearly 1800 despised tax collectors to every US State...

Biden-Dems add $500B student loans to deficit...
https://www.foxnews.com/politics/white-house-suggests-bidens-500b-student-loan-handout-paid-deficit-spending

Biden-Dems Socialist dreams will crater economy beyond bankrupt...



Biden's IRS Auditor Army Will Disrupt Economic Recovery

https://www.realclearpolitics.com/articles/2022/08/30/bidens_irs_auditor_army_will_disrupt_economic_recovery_148112.html
https://www.thecentersquare.com/national/critics-small-businesses-in-the-crosshairs-of-new-irs-auditing-army/article_7c1fa776-1754-11ed-b775-5f3b0916ac28.html
https://www.alignable.com/forum/52-percent-of-small-biz-employers-say-they-cant-afford-to-hire-staff
https://www.alignable.com/forum/special-report-47-of-smbs-in-jeopardy-fear-closing-by-fall

The Biden administration’s decision to recruit nearly 90,000 new IRS
auditors could have a chilling effect on small businesses and economic
growth, permanently impeding our nation’s ability to recover from its
current economic malaise.

As part of the misleadingly titled “Inflation Reduction Act,”
President Biden and his allies secured roughly $80 billion in new IRS
funding to hire 87,000 auditors. This is bad news for the American
economy.

One of the many ways that small businesses can succeed and help grow
the economy is by taking advantage of tax credits and deductions which
leave more money in the hands of owners to reinvest in their
businesses and offer more competitive pay for their employees.

But with the looming threat of a veritable army of auditors being
mobilized by the Biden administration, it is highly likely that many
small businesses will decline to seek the benefits of those credits
and deductions, lest they face the costly headache of aggressive
audits from the IRS. In fact, my firm, Engineered Tax Services,
specializes in working with businesses to understand and utilize those
credits and deductions, and some of my firm’s small business clients
have told me this is the case.

Business and financial experts are equally certain that Biden’s
Auditor Army will target small businesses.

“There is no doubt that boosting IRS audit capabilities through a vast
increase in the hiring of 87,000 new staff focused on this effort will
hit small businesses the hardest,” said Karen Kerrigan, president and
CEO of the Small Business and Entrepreneurship Council, in an
interview with The Center Square. “The tax data shows that it is small
businesses of moderate means, not ‘the wealthy,’ that are targeted
most frequently.”

Basic math proves this will undoubtedly be the case with Biden's new
Auditor Army. Biden wants to unleash 87,000 additional IRS agents on
the American people, but there are fewer than 800 billionaires and
roughly 34,000 millionaires in the country. Even if each of them gets
assigned a full-time, year-round personal auditor, that leaves 52,200
agents free to harass small business owners and everyday Americans.

Undergoing an audit is an incredibly serious and costly endeavor,
regardless of the reason for the audit or the outcome, and this cost
is a burden both on the business and the community in which it
operates, a clear impediment to economic growth and prosperity. Even
when auditors find no wrongdoing, the experience can be financially
devastating for small business owners.

“Obviously, this will be a huge burden on many small business owners,
who will be forced to endure lengthy audits and do not have the
resources to hire expert lawyers or accountants,” Kerrigan explained.

“Some will be forced to bring in this expensive support, which means
fewer resources to invest in their business, their workers and their
communities…. Dealing with crushing inflation and the economic
downturn is unbearable enough for small business owners, without
having this type of threat hanging over their heads,” he continued.

The insult to the injury Biden’s Auditor Army will inflict on the
American economy is that it comes at a time when many small businesses
are already facing severe economic hardship, if not outright ruin.

A July survey by t​​he small business network Alignable found that
“45% of small businesses (SMBs) are halting their hiring, largely
because they say they can’t afford to add staff.”

A different survey conducted by the same network, also in July,
revealed that “47% of small business owners … say their businesses are
at risk of closing by fall 2022, unless economic conditions improve
significantly.”

That number is “up 12 percentage points from last summer, when only
35% were concerned about economic issues forcing them to shut down,”
according to Alignable, and “SMBs in key industries face even bigger
problems: 59% of retailers are at risk, along with 52% in
construction, 51% in the automotive sector, and 50% of restaurant
owners.”

Our small businesses are in crisis, and the last thing they need is an
army of militarized bureaucrats going door to door carrying out
audits, further crippling those businesses and the economic growth
they generate.

Julio Gonzalez is the CEO and Founder of Engineered Tax Services, Inc.