In order for Joe Biden to “raise taxes exponentially” on Americans, the Internal Revenue Service (IRS) must first have the “firepower” and “guts” to collect them, according to West Virginia Sen. Joe Manchin (D).
Speaking on CNN”s “State of the Union” on Sunday, Manchin noted that the IRS is already unable to collect between “$400 billion to $1 trillion” from tax loopholes, so taxes shouldn’t be arbitrarily raised — yet.
“You have reports from professionals that say $400 billion to $1 trillion are not even collected in the loopholes we had,” Manchin began. “We’ve eviscerated the IRS, they don’t have the guts or the firepower they had before. All of this should be explored before we just start raising taxes exponentially.”
CNN host Dana Bash asked Manchin pointedly, “So, you don’t support raising taxes at all right now?”
“Oh yeah, I always support basically — I’m supporting anything that makes common sense and is reasonable,” Manchin said.
“But if you’re just saying raising taxes for the sake of raising taxes, and not collecting what taxes have already been owed, and we’re not closing loopholes…” he added.
When Bash asked whether the wealthy should prepare to have their taxes raised, Manchin answered in the affirmative.
“I think basically you will be paying your fair share if your taxes are raised, but basically, have you been paying your taxes at all?” he said.
“The way you’re able to report being super wealthy, have you been able to use different pass-throughs and different bypasses or loopholes that have been in the system? We’re gonna close all those. We have to.”
Biden announced last week his plans for sweeping tax hikes, including raising capital gains taxes to 43%, resulting in a sharp market drop.
It’s not surprising Democrats want to raise taxes given New York Democrats alone want to dole out $15,000 for each illegal immigrant in the city for “COVID relief.”
So to take more money from you, the IRS first needs to be weaponized again much like it was under the Obama administration.
Every year millions of U.S. citizens pay their taxes to a corporacratic system hijacked by an oligarchy disguised as a Republic.