Thanks for clicking on this web extra. We didn’t have time to bring you all of our panel discussion on “4 the Record.” We’ll wrap up our conversation with the topic of the IRS.
It’s getting $80 billion in new money from the Inflation Reduction Act. The added IRS budget is expected to bring a $100 billion in net tax revenue over a decade.
Meanwhile, a New York Times analysis of unpaid taxes by income level revealed that for the year 2019, the top 1 percent of earners skipped out on paying $163 billion.
Former Rock Island County Republican Party Chair Bill Bloom and Democratic political consultant Kevin Perkins share their thoughts.
“When I saw that number of 87,000 new IRS hires …. It’s an army. They’ve basically hired a new army,” Bloom said.
“We’re going to gross $203 billion with this,” Perkins said. “To raise revenue, you’re either going to have to raise taxes or you’re going to have to collect more.”
In the video, hear what else they have to say.
Local 4 News, your local election headquarters, is proud to present 4 The Record, a weekly news and public affairs program focused on the issues important to you. It’s a program unlike any other here in the Quad Cities. Tune in each Sunday at 10:30 a.m. as Jim Niedelman brings you up to speed on what’s happening in the political arena, from Springfield, Des Moines, Washington, D.C. and right here at home.