XPost: alt.tv.pol-incorrect, alt.fan.rush-limbaugh, alt.politics.miserable-failure
XPost: alt.politics.usa, us.taxes

I’m sorry to have to be the one to deliver this news, and this may shock you, but Joe Biden lied. Worse, because of his lie, we are all now going to pay a big price.

As you may recall, the President of the United States has insisted for the entirety of his tenure that no one making under $400,000 a year would see
their tax burden increase. Yet, that’s exactly what is now happening
according to CBS News. The network has confirmed the existence of a new IRS rule requiring any money received on payment apps totaling more than $600 a year to be considered 1099-K income.

Yes, Biden is going to tax that reimbursement your mom sent you on Venmo for dinner.

Starting next year, a new IRS rule will require anyone earning over
$600 on payment apps, like Venmo, in 2023 to receive a 1099-K form.
The old threshold was earning $20,000 over 200 transactions. pic.twitter.com/TaygGwFBep

— CBS Evening News (@CBSEveningNews) April 12, 2023

As noted in the CBS News report, the previous threshold was $20,000 made over at least 200 transactions. That protected hobby sellers that used PayPal and the like. It also meant that you didn’t have to worry about your friends and family sending you reimbursements via Cash App. Now, if you receive more than $600 over the course of the year, you will be made to report it as income,
and that means it’s taxable.

Compare that to Biden’s past promises and those of his compliant media allies that insisted this wasn’t going to happen.

No one making less than $400,000 will see their federal taxes raised
as long as I’m president.
— Joe Biden (@JoeBiden) April 2, 2023

The IRS has just received an additional $80 billion in new funding,
part of an upcoming overhaul to the agency intended to increase audits.

But officials say the average taxpayer should not be worried. https://t.co/Zyu0wR7RZG pic.twitter.com/t0RwDkrjh8
— CNN (@CNN) April 7, 2023

When that massive chunk of funding mentioned above was given to the IRS back
in 2022, the press shouted from the rooftops that it was only going to be
used to target the ultra-wealthy. If you were a middle-class normal, they
said you had nothing to worry about. Yet, the very first move the IRS makes with all its new funding is to create more massive bureaucratic overhead in order to tax relatively small amounts of money received on payment apps.

Nearly every American uses some kind of digital payment app, so nearly every American will be impacted, and the vast majority of those people will be
lower and middle-class. Democrats are so money-hungry to keep their massive spending binge going that they are now doing the political equivalent of turning over the couch cushions. Oh, you sold something you bought and no longer use online? Well, Uncle Sam would like his cut, and if you don’t give it, there’s an army of IRS agents, many newly minted, ready to audit you.

In the end, this probably won’t even have the desired effect. People are
simply going to stop selling things via payment apps in favor of other
methods of payment. Meanwhile, those who use Venmo and other services to shuffle reimbursements around will go back to using cash. So what exactly
will have been accomplished besides making the average American’s life more difficult?

What does Biden care, though? He’s got his millions in corruptly earned
money, his multiple houses, and his senility. If you get screwed in the process, that’s just fine by him.

The opinions expressed by contribu

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Let's go Brandon!

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