WILL CAIN (HOST): The agency stands to gain $80 billion from this legislation. Now, that will allow the agency to hire more than 80,000 new agents. Keep in mind, the IRS is already wonderfully, mysteriously, heavily militarized. They've stockpiled thousands of firearms and millions of rounds of ammunition. Why does the IRS need all that weaponry? Why do we need to make the IRS even more powerful exactly?
We know the point isn't to investigate wealthier powerful Americans. The most recent version of the bill keeps the "carried interest loophole" intact. Now, that benefits wealthy individuals and institutions in particular -- hedge fund managers, who are some of the Democratic Party's biggest donors. So, it won't be Goldman Sachs doors being kicked in with IRS agents with those guns. Now, following all this, Build Back Better means doing exactly what China and hedge fund managers, that make a lot of money in China, want us to do.
What do Americans get out of the deal? Apparently, a lot more inflation and probably a lot more audits.