There is nothing the radical Left likes more than taxes and a strong IRS.
After all, taxes help to pay for the Left’s ambitious vision for a massive federal government and they also help to punish their political rivals.
But tax season will be especially brutal for millions of taxpayers for this shocking reason.
The Left has an unhealthy obsession with raising taxes
Over the years, Democrats have become the party of more regulation and higher taxes.
After all, somebody has to pay for these massive multi-trillion dollar spending bills that the Democrats keep ramming through Congress.
But the Democrat’s most recent regulation is guaranteed to shock millions of average Americans.
As part of the American Rescue Plan, which got no votes from Republicans, digital money-transferring services will have to begin reporting transactions of $600 or more.
This includes services and apps such as PayPal, Venmo, Zelle, etc.
Millions of Americans use these services regularly and most have absolutely no idea that this new tax policy was passed.
Nancy Dollar, who is a tax lawyer at Hanson Bridgett told Fox Business that “I think it will come as a shock out of nowhere that people are getting these.”
She then went on to say, “Everyone I know offloads old goods that they have on these platforms because it’s so easy. Or they’ve been engaging in gig work on a very casual basis, and that affects gig workers as well who have been underreporting their income. I think it’s going to force people to either cut down on those activities or kind of take them more seriously and track them.”
As you can see, this is a total disaster waiting to happen.
Democrats hate the very concept of the gig economy
However, this war against the gig economy or under-the-table side hustles is nothing new for the Democrats.
Over the last several years, House Democrats have introduced a slew of anti-business bills that would effectively end the gig economy.
The gig economy consists of people who work both full and part-time jobs or “side hustles” to help make ends meet.
Think Uber driving, freelance writing, door dashing, etc.
One way the Democrats have come after this economy is by advocating for the passage of California A.B. 5 on the national level, which would effectively force gig workers to join a union.
This would strike a death-blow to the gig economy and this tax on money transfers is yet another attack on the gig economy.
Moving forward, workers will have to be much more careful about how they do their job, as well as keep detailed records of their transactions.
The most irritating thing about this rule is that more often than not, Venmo transactions have nothing to do with income, but rather are used to transfer money between friends and family.
This is a major invasion of privacy by the federal government, and highlights why stopping the Democrats’ massive spending bills (which are almost always loaded with pork) must be a top priority for Republicans going forward.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
