Past and future Democrat cabinet nominees hardest hit…
President Barack Obama proposed on Thursday nearly doubling funds to enforce U.S. tax laws next year, with an aim of more than quadrupling funding for tax compliance to $2.1 billion within five years.
The budget plan seeks $12.1 billion for the Internal Revenue Service, responsible for collecting and enforcing individual and corporate tax laws, for fiscal 2010, which begins October 1. That amounts to a roughly 5.2 percent increase over the IRS budget for 2009, which was $11.5 billion.And you’re laughing at Obama’s much ballyhooed $8 billion in non-defense budget cuts to offset his $650 billion in new discretionary spending. Obama could do some serious taxing with that kind of scratch.
Underreporting of income by individuals and businesses led to a “tax gap” of $345 billion in 2001, the most recent year available, according to the government. Of that, corporate income tax and employment tax underreporting made up about $84 billion, according to a report by the Government Accountability Office.
Which leave an extra $261 billion he’ll be squeezing out of individuals. If there’s one thing America needs in these trying economic times it’s a hungrier, more aggressive IRS ensuring we render unto Black Caesar.