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Manchin Goes Toe to Toe with IRS Reporting Requirements

Andrey_Popov/shutterstock.com
Andrey_Popov/shutterstock.com

Joe Manchin is at it again. He’s not willing to let the Biden administration send the country into a progressive wonderland. He’s got morals, and he’s listening to what the American people want. Since Biden’s not listening, someone has to.

Manchin has not become a favorite throughout his party – and it’s also why he’s been threatening to identify as an American independent.

The spending bill isn’t done being dissected, not even by a long shot.

There’s been another source of contention within it – and that comes from the IRS reporting requirements that are inside of the bill. Many Americans have a problem with banks being forced to report withdrawals or deposits of $600 or more. It’s invasive and it defies the privacy that we are supposed to be granted as Americans.

Since none of the liberals have a problem with defying privacy, Manchin is the one to voice concern. He’s been a sharp critic of this IRS reporting requirement since the very beginning. It’s one of the ways the liberals want to pay for their plan – by penalizing hardworking Americans.

Manchin has already told Biden that it’s a bad idea.

According to an interview that Manchin had with the Economic Club of Washington, DC, the West Virginia senator told Biden, “Do you understand how messed up that is? This cannot happen. It’s screwed up.”

Let’s give a round of applause for Manchin, a Democrat, for standing up for what is right.

Perhaps the saddest part of this story, however, is that Biden doesn’t already know this. He has to be told that it’s not okay for Americans to have every transaction being reported to the IRS.

It’s likely to be gone…at least if Manchin gets his say about it.

Manchin isn’t the only one who doesn’t like the idea. The banking industry has been lobbying to kill the IRS reporting proposal, too. According to Paul Merski, the executive VP for the Independent Community Banks of America, “This is one comment, and this is not over till it’s over. A lot of the community bankers in West Virginia have been pressing Manchin on this.”

The Democrats are, of course, furious with Manchin for taking this issue head-on. If the reporting requirements go away, it will be that much harder for the Dems to raise the revenue that’s needed to push such a large social spending bill.

Yeah, it will actually cost money. You can’t possibly believe that it will cost nothing, even though that’s what Biden keeps telling everyone. The price tag is significant. Even though it’s come down quite a bit (again, because of Manchin), it’s still a ridiculous amount of money.

Treasury Secretary Janet Yellen has been trying to calm the Republicans by explaining that the proposal would only allow the IRS to see the amount of money going in and out but not at individual transactions. Still, it’s invasive.

It also proves that the progressives have no grip on reality. Some people work for cash. Some people sell things in order to earn cash. Where would that be taken into consideration? Oh, right…they don’t really care as long as they get the money one way or another.

The liberals aren’t going to let this go without a fight. Senate Finance Chair Ron Wyden explains “We are going to have a strong provision to ensure that we have real tax enforcement. … We’ve got a lot of wealthy tax cheats.”

Sure, there are a lot of wealthy tax cheats…but it’s not happening $600 at a time.