I thought Democrats only cared about taxing the millionaires and billionaires?
We hear their tired slogans all the time.
“Tax the rich.”
“Make the wealthy pay their fair share.”
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Blah. Blah. Blah.
But these same Democrat lawmakers revealed who they really want to tax in this socialist stimulus bill.
The lowest-earning workers who survive on paycheck to paycheck.
Before they slipped this measure into the “relief” bill, the reporting threshold for freelancers was $20,000.
Freelancers could earn upwards of that amount without reporting their income to the IRS.
Well, Democrats decided to make that threshold $600 now!
Under the new #stimulus bill
A #gig worker could previously earn up to $20,000 without the #IRS being informed of their income on third party platforms like #Uber, #Airbnb, #Etsy, #eBay, #Freelancer that has now been lowered to $600 > https://t.co/0TFoAbv5GD #covid
— SHORT SQUEEZED (@ShortSqueezed1) March 15, 2021
In the end, gig workers, freelancers, and entrepreneurs will end up paying more taxes than the $1.4k stimulus check they'll receive.
In fact, Congress admitted that this new law is proposed precisely to help pay for the $1.9T stimulus bill.
So thanks for nothing, assholes.
— 𝘼𝙇𝙑𝙄𝙉 𝙏𝘼𝙉 陈杰毅 (@AlvinTanYOLO) March 7, 2021
The government hates you FYIhttps://t.co/UEp5JFmer5
— Joe Hart (@CoachJoeHart) March 15, 2021
Freelancers Punished In New IRS Rule Under #JoeBiden and the #Democrats #COVID Stimulus.#Biden and @TheDemocrats are going after and trying to break the #workingclass and the #workingpoor. #MissTrumpYet?
— The Irish Outcast loyal to Trump (@Irish_Outcast) March 15, 2021
And as a freelancer myself, that made my blood boil.
So for other freelancers, this is a major heads up for this sneaky amendment.
Although it’s common knowledge to conservatives & libertarians, these snakes showed they’re straight-up liars and only want to suck more money from working-class Americans.
Citizens who get by from paycheck to paycheck.
And Democrats want to make working conditions so unbearable that you must remain dependent on the government.
Zero Hedge shared more details:
A few hundred pages into the latest $1.9 trillion Covid relief law, the “American Rescue Plan Act of 2021,” you’ll find Section 9674. It says that a “third party settlement organization” does not have to report to the Internal Revenue Service (IRS) any payments to contract workers under $600.
These third parties include Uber, Airbnb, Etsy, eBay, Freelancer, and other platforms which facilitate payments to gig workers. The problem is that this little amendment lowers the reporting threshold from $20,000 to $600. Previously, a gig worker could earn up to $20,000 on these platforms without the IRS being informed of their income.
What this means:
From this rule change the IRS expects to collect an additional $1 billion annually, presumably from the poorest gig workers who previously earned under $20,000 per year. These low earners previously flew under the radar.
But now they could be met with surprise bills from the tax man when it comes time to file. And as many of these contractors are living paycheck to paycheck, they may incur additional IRS penalties if they are unable to pay what the IRS says they owe.
Of course, the same politicians who snuck this into the bill are the ones who declared over and over that their tax policies would only affect millionaires and the ultra wealthy. But now, one of the first things they do is shake down the lowest tax bracket.
We hope these gig workers enjoy their stimulus checks. They are soon going to learn that nothing is free when it comes to the government. There are always strings attached.
Democrats hate the poor.
All their whining about taxing the wealthy is just blowing hot air.
Their true colors are on full display with this “relief” bill.
And it’s laughable when they say this bill provides “life-changing” stimulus checks.
By life-changing, you mean make the lowest-income earners struggle even harder to survive.
Thanks a lot Democrats!