Thursday, September 02, 2021

IRS scheme would pay for 1 day of spending

National Review: "Another Biden Pay-For Comes up Short"

The Congressional Budget Office (CBO) today published its revenue estimate for President Biden’s proposed increase in IRS funding to close the tax gap, which is the difference in the amount taxpayers owe compared with what the IRS actually collects. The CBO estimates that an $80 billion increase in IRS funding would raise an extra $200 billion over the next ten years, so it would increase revenue by $120 billion on net.

So that extra $12 billion a year will be swallowed up in a single day of federal spending.  (Actually it's closer to 12 hours of spending).  

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