How STUPID does the left think YOU ARE? I will tell you.
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The New York Times wrote how Biden's handlers are going to "crack down on $7T in unpaid taxes". That's $7,000,000,000,000.00 in unpaid taxes. Right? To do that, Biden's handlers have to look at money from "wealthy Americans and businesses". With me so far?
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Just a few inches down, this $600 or more criteria, is tucked in the article. Do you know how many accounts Biden's handlers would have to "track down" in order to come up with $7T in back taxes?
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There are approximately 100m households in the United States. (Rounded up slightly). The average household income in the United States is $68K. IF Biden's handlers claim that $7T in back taxes is owed, and you divide that out, it means that each household in the United States owes at least one year of income to the United States Treasury in back taxes.
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Lets round everything out. Ready?
100,000,000 households in the United States.
The average household income is $70,000.00
Multiply and you get $7,000,000,000,000.00 dollars or seven trillion dollars.
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But wait, this is where it gets interesting.
The average citizen in the United States, who has failed to pay their taxes, owes how much?
Lets find out.
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The average household income in the United States is $70k. That means that they owe roughly 24% in taxes each year. So in order for each American household to owe that much in back taxes, they would at least have to owe 4.25 years of unpaid taxes.
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However, since most Americans don't have unpaid taxes, lets assume that 20% of US households have unpaid taxes. In order for the times article to be true, 20m household owe $7T in unpaid taxes. By the law of inverse properties, if 20m households owe $7T in back taxes, they would each owe an average of $350,000.00 to the IRS. The only thing is, the upper 20% of American households DON'T EARN enough to owe that much. So then the "businesses" come in. Lets say half of the households owe taxes and the other half are businesses.
Now we are talking about households earning over $1m a year and businesses that take in more than a million dollars a year in revenue. There needs to be about 10m businesses in the USA that have a yearly revenue of $1m or more.
That's one 10th of all American households and one third of all businesses in the United States that Biden's handlers are accusing of owing money to the IRS. All of whom are making over $1m a year.
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How many American households actually make over a million a year?
As it turns out, they know! About 350,000 households earn over a million a year.
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How many American businesses earn over a million dollars a year?
As it turns out, they know! About 2.5 million businesses earn over a million a year.
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350,000 households and 2.5 million businesses paying $7T in back taxes? That's $2.5m in back taxes each!
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Now you know why they want to see all transactions over $600! Because they ARENT going after just the wealthy!
