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Why are they snooping on an average Joe over a $600 payment'


Swampfox762
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One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor every inflow and outflow of 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 the IRS every deposit and withdrawal from an account, 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. 

https://www.dailymail.co.uk/news/article-9973671/Bidens-plan-let-IRS-SNOOP-bank-accounts.html

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11 minutes ago, Swampfox762 said:

One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor every inflow and outflow of 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 the IRS every deposit and withdrawal from an account, 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. 

https://www.dailymail.co.uk/news/article-9973671/Bidens-plan-let-IRS-SNOOP-bank-accounts.html

Heil!      :angryfire:

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1 hour ago, deputy tom said:

Gee, I only take out $300.00 at any given time unless I'm buying a car or something big. Eff 'em and feed 'em fish heads. tom. :fred:

That's only going to work until inflation jacks prices of everything.  Then the tyrants will be getting info on EVERY SINGLE TRANSACTION anyone makes.  You can all see where this is going.

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This is to stop the wholesale defrauding of poor 'ol uncle sammy and just help him balance the budget. Remember kids, if the other guy doesn't pay his fair share, he's actually cheating YOU.

 

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