One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor gross inflows and outflows from an individual's bank account.
The Biden administration says such surveillance would target audits and prevent tax evasion, but some are concerned that it might run up against the Fourth Amendment and those who can't afford to fight tax audits or move their money into offshore accounts.
The proposal would require banks to report to gross inflows and outflows to the IRS, including transactions from Venmo, PayPal, crypto exchanges and the like in an effort to fight tax evasion.
The IRS would know how much money is in an individual's bank account in a given year, whether the individual earned income on that account and exactly how much was going in an and out.
Biden, Treasury Secretary Janet Yellen, IRS chief Charles Rettig and a number of Democrats in the Senate, most especially Elizabeth Warren, are pushing for the deep dive into individual financial transactions as part of an $80 billion plan to enforce tax compliance.
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What happens when you let COMMUNISTS steal your Government on you.
Hang them all!!!
Does anyone remember what obama and irs did to the Leaders of The Tea Party-??? When the IRS is used AGAINST THE PEOPLE-!!! The Dem's are going for "The One World Order"- BE PREPARED-!!!
We all should be familiar with Our Declaration of Independence, and therefore the "Charges Against King George." Seem similar?
Lynn Bryant DeSpain
The government is broke and now they are going for your children money
Yep under the mattress!!
This should be done and done as soon as possible. But only to those serving as Senators or House members. No one else.
Money legally aquired is private property. Note the word PRIVATE!
Instead, lets seize and return Joe Bidens kick-back money he has feloniously received or extorted from corporations and countries in his capacity as a federal public servant, using his bag-man crack-smoking son.
Under the matress is where our grandparents kept there money
How about we confiscate all the illegal sums of money the Biden crime group collected from China and other places!
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