Sure, and drive everyone to gold and silver!
The Kraken, that giant sea monster of Norwegian myth, reappeared in popular culture with Pirates of the Caribbean and the Clash of the Titans movies.
Releasing the Kraken means to let loose destructive forces of immeasurable powers.
Now it looks like the Biden administration is prepared to set loose an IRS Kraken, 87,000 new IRS agents – many of them armed – to squeeze more resources out of the American people. It is spectacularly bad timing as the people’s earnings aren’t keeping up with the cost of living and their savings are being devalued by inflation.
But there is more to the picture than just the financial squeeze. At a time of record distrust and dissatisfaction with Washington, at a time of maximum social polarization, it is a move that will heighten all of that.
Stove-piping $80 billion to the IRS is but one component of the so-called Inflation Reduction Act of 2022. “According to expert analysis,” writes Senator Ted Cruz, “it will supercharge the IRS with 87,000 new IRS agents to target Americans with 1.2 million new audits, more than half of which would be for people making less than $75,000 a year.”
Thanks to the Byzantine tax code, nosey auditors will be able to find something just about anywhere they turn. And they will be armed, too. Here are a couple of snippets from an IRS hiring ad: “min50 hours per week, which may include irregular hours, and be on-call 24/7, including holidays and weekends” and “Carry a firearm and be willing to use deadly force, if necessary.”
Writing in the New York Post, Steve Forbes points out that the provision comes hard on the heels of the last IRS scandal This proposal comes just a year after the IRS’s latest scandal with agents illegally leaking the private tax returns of the wealthy. But don’t think that the rest of the people will get off easy:
The plan is estimated to double the number of Americans audited each year. To quote the Church Lady from “Saturday Night Live”: “Well, isn’t that special?”
Most of the money raised from these audits won’t come from the superrich or multibillion-dollar corporations — both well-stocked with accountants and tax attorneys to fight IRS allegations.
Small-business owners and upper-middle-income workers will likely be the targets. The woman who runs an accounting firm or a restaurant won’t have the resources to fight the government in tax court.
Washington is releasing the Kraken because it is desperate. Its currency is failing. Foreign central bankers in China and elsewhere are de-dollarizing. Elected officials are writing spending bills with no visible means of support. And you don’t have to look under the carpets to see that people in high places are stealing everything they can get their hands on.
Time to refuse to be fleeced by Washington’s financial irresponsibility. Speak with a Republic Monetary Exchange gold and silver professional and establish a plan to protect your family and your wealth.