They say you have to spend money to make money, and when it comes to raising tax revenue, President Biden sure has taken that to heart. He wants to increase the IRS’ budget by $80 million — a move he claims will raise $700 million in additional federal revenue over the next 10 years. And Democrats looking to fund their $3.5 trillion spending package will likely back his plan. Biden’s logic is simple enough: Giving the IRS more money allows them to increase audits on citizens and businesses and thereby raise revenue.
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