The out-of-control spending by the federal government in the past two years, with more trillion-dollar congressional bills being pushed by the administration, is not being funded with “no new taxes” as President Joe Biden has stated publicly.
Far from it, the American people, including many middle- and lower-income families, as well as senior citizens living on fixed incomes, better be prepared for tougher times ahead, according to information that has been released nationally.
The Biden “Build Back Better Act” that is trying to get final congressional approval will reportedly include money for the IRS so they can audit 1.2 million more households and small businesses.
The administration wants to find $200 billion a year from working Americans that they believe has been underreported on tax returns. According to an analysis of the bill, nearly 600,000 more working- and middle-class Americans earning $75,000 a year or less will be audited.
The Biden plan will add 87,000 more IRS agents to the office and essentially double the chance for all Americans to be audited.
Even the poorest of Americans who earn $25,000 a year or less would be among 313,000 of the audits, the analysis said.
As if that is not enough financial pressure on Americans to pay for all these spending bills, retired seniors on fixed incomes got hit just as hard with the recent news that their Medicare premium will rise a whopping 14.5 percent in the new year, compared to only a 5.7 percent increase in Social Security checks.
The main reason for the rise, said the administration, is to pay for an incredibly expensive new Alzheimer’s Disease drug called Aduholm. The drug costs $56,000 a year to treat one person, hence the burden being put on those with fixed incomes and paying for their Medicare.
It becomes clearer each day that those in Washington have little idea what it is like for working Americans, those on fixed incomes, and most citizens of this country who get up each day trying to find a way to manage in our great country.
With the continued radical spending from federal leaders, and the solution to fund their budget by putting more pressure on the working class and retirees, you wonder at what place it all ends.
Clearly for those out of touch in the nation’s capital, they don’t believe most U.S. citizens have been pushed far enough just yet.
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Working Americans haven’t been pushed enough, say leaders
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