https://notthebee.com/article/the-gover ... s-over-600
The government REALLY wants to monitor how you spend your money as Janet Yellen signs off on IRS tracking plan
The government wants to tracks all you problematic little serfs and your tendency to buy things with the money you earn without their expressed approval.
Janet Yellen Endorses IRS Plan To Monitor Aggregate Bank Transactions Above $600
Treasury Secretary Janet Yellen expressed her support for the Internal Revenue Services' plan to track Americans' bank accounts.
In a proposal that many lawmakers are calling a violation of the Fourth Amendment, the Democrats' pending $3.5 trillion social spending bill would compel banks to report gross inflows and outflows to the IRS for transactions of $600 or more.
The 4th Amendment prevents the government from infringing on your right to privacy:
The Founders could have never imagined a digital infrastructure that reports your assets moment-by-moment to a massive bureaucracy.The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
The IRS and Yellen say this is all about making sure the government gets what it is "owed":
Yellen, however, noted that there is a projected tax gap of $7 trillion over the next decade — a reality that keeps the IRS from collecting "what we believe are owed."
They SAY this is all about billionaires and that the information the banks report about transactions will largely be anonymous.
I'll let you decide if that's actually true! I'm sure it's a coincidence that this is happening while literal communists who admire the Soviet economy are being nominated to watch over America's banks.