Biden Lied to Your Face, and Now We'll All Pay the Price

AP Photo/Evan Vucci

I’m sorry to have to be the one to deliver this news, and this may shock you, but Joe Biden lied. Worse, because of his lie, we are all now going to pay a big price.

Advertisement

As you may recall, the President of the United States has insisted for the entirety of his tenure that no one making under $400,000 a year would see their tax burden increase. Yet, that’s exactly what is now happening according to CBS News. The network has confirmed the existence of a new IRS rule requiring any money received on payment apps totaling more than $600 a year to be considered 1099-K income.

Yes, Biden is going to tax that reimbursement your mom sent you on Venmo for dinner.

As noted in the CBS News report, the previous threshold was $20,000 made over at least 200 transactions. That protected hobby sellers that used PayPal and the like. It also meant that you didn’t have to worry about your friends and family sending you reimbursements via Cash App. Now, if you receive more than $600 over the course of the year, you will be made to report it as income, and that means it’s taxable.

Advertisement

Compare that to Biden’s past promises and those of his compliant media allies that insisted this wasn’t going to happen.

When that massive chunk of funding mentioned above was given to the IRS back in 2022, the press shouted from the rooftops that it was only going to be used to target the ultra-wealthy. If you were a middle-class normal, they said you had nothing to worry about. Yet, the very first move the IRS makes with all its new funding is to create more massive bureaucratic overhead in order to tax relatively small amounts of money received on payment apps.

Nearly every American uses some kind of digital payment app, so nearly every American will be impacted, and the vast majority of those people will be lower and middle-class. Democrats are so money-hungry to keep their massive spending binge going that they are now doing the political equivalent of turning over the couch cushions. Oh, you sold something you bought and no longer use online? Well, Uncle Sam would like his cut, and if you don’t give it, there’s an army of IRS agents, many newly minted, ready to audit you.

Advertisement

In the end, this probably won’t even have the desired effect. People are simply going to stop selling things via payment apps in favor of other methods of payment. Meanwhile, those who use Venmo and other services to shuffle reimbursements around will go back to using cash. So what exactly will have been accomplished besides making the average American’s life more difficult?

What does Biden care, though? He’s got his millions in corruptly earned money, his multiple houses, and his senility. If you get screwed in the process, that’s just fine by him.

The opinions expressed by contributors are their own and do not necessarily represent the views of RedState.com.

Sponsored

Recommended

Join the conversation as a VIP Member

Trending on RedState Videos