The IRS has developed a plan to close a serious loophole in the tax code. It seems that many people have been hiding assets, and this unconscionable state of affairs must be put to an end.
Child welfare advocates and parents express outrage today as a policy change at the Internal Revenue Service allows them to view dependent children as assets... assets that can be taxed and, if necessary, seized.
While some might argue that the IRS has no authority to tax mere assets, and not income, one thing is certain: at some point, every one of those assets was income, and it shows how broken the system is that people have been uniformly hiding that income from the IRS.
It's time these tax evaders and cheaters were put on notice.
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