Biden Admits the IRS Plan is “Screwed Up” to Manchin

By Lane V. Erickson/shutterstock.com
By Lane V. Erickson/shutterstock.com

As you well know, the Democrats in Congress, or at least most of them, are trying to push forward a massive two-part spending bill that would, among other things, improve American infrastructure, raise taxes, and fund the IRS to look into your bank accounts. Together all the new policies will cost Americans $3.5 trillion.

So how is congress planning on paying for that? Well, by catching more tax cheats, particularly wealthy ones, and making them.

Now, of course, I don’t have any problem with the government stepping up its game to ensure that those who have been evading paying taxes for years hand over what is due. However, I most certainly do have an issue with the proposed way they will do that.

And apparently, so does Democratic President Joe Biden.

If you hadn’t heard of the plan before now, it basically said that banks would have to start reporting the amount coming in and the amount going out of every account with $600 or more in deposits or as a balance to the IRS every year. The idea was that accounts who took in or paid out with massive differences and might be trying to hide income would be more likely to be audited and caught in tax fraud.

But this also means that nearly every single American with a bank account would have their finances reported and looked into. And as you can imagine, there are a great many people who don’t like that idea.

Since news of this plan was outed, Congressional democrats have since changed that number from $600 to $10,000, the same transactional amount required by IRS to be reported by banks currently for a different reason.

However, there’s still quite a problem with this. As Democratic Senator of West Virginia Joe Manchin states, “Even if it’s $10,000, that’s only $800, $900 a (month).” And most Americans make more than that, which most American accounts will still be reported.

As you can tell, he’s not exactly a fan of the bill. If you didn’t know already, he’s actually one of the few from his party that doesn’t like it, which is causing a rather big stink in Washington.

But even more importantly, Manchin says that Biden doesn’t like the plan either, or at least the IRS reporting part.

According to a recent interview with ABC News, Manchin says he was able to speak to Biden about the matter this past week. As he is prone to doing, Manchin didn’t hold back and let Biden know that he didn’t agree with rummaging through Americans’ bank accounts. He told Biden, “Mister President, I don’t know who put this out, but that’s screwed up. Do you understand how messed up that is? This cannot happen. It’s screwed up.”

Manchin then went on to state that there is no specific threshold or amount of money that he believes should be justifiably reported.

And apparently, Biden agreed, saying, “I think Joe (Manchin) is right on that. So, I think that one’s going to be gone.”

The only problem with this is that this is basically Manchin’s word that the president said this. There is no official record of it or any announcement on the subject.

And according to Democratic House Speaker Nancy Pelosi, she’s not going to take that or any other threshold off the spending bill anytime soon. Who knows, she may not even do it if she knows Biden doesn’t agree with it.

When asked earlier in the month about the topic and the fact that many Americans are rightfully concerned about the proposed measure, she essentially said she didn’t care what anyone thought or said.

“Yes, there are concerns that some people have. But if people are breaking the law and not paying their taxes, one way to track them is through the banking measure.” So no matter that it’s a violation of privacy, a trampling of our constitutional rights, or just plain illegal, she wants to do it anyway.

I mean, how else is she going to get her expensive spending bill and liberal agenda paid for?

I guess it’s a good thing the bill is getting less and less support and going nowhere fast.