The IRS now wants to monitor every check written and deposit made on your bank account. A new IRS rule would require banks to turn over transaction information on every account with a balance of $600 or more. This is a terrible invasion of American’s privacy and Treasury Secretary Janet Yellen is lying about the proposal.
On Tuesday October 12, Yellen told the Senate Banking Committee that the collection of bank account information was to address tax fraud by billionaires. This claim is ludicrous on its face. Billionaires don’t have bank accounts with $600 or write small-dollar checks. Rather, the purpose is to harass and intimidate small business and ordinary American taxpayers.
Big Brother of Orwell’s 1984 has become Big Janet of 2021.
The real goal is control.
Wyoming Senator Cindy Lummis put it best when she said that monitoring the bank accounts of every American is evidence of the distrust of Treasury Secretary Yellen and the Biden Administration for the American people: “Do you distrust the American people so much that you need to know when they bought a couch? Or a cow?”
Of course, it is only a matter of time before the Biden Administration uses this information to squelch dissent by their opponents.
One need only recall the harassment of Tea Party groups by the IRS during the Obama Administration.
Or the use of the IRS by Richard Nixon against his political enemies.
Or the many other episodes in which the IRS has been used to harass those who oppose the powerful.
GO-USA believes in the right to personal privacy including financial privacy and opposes the unconstitutional exercise of the powers of the federal government including the use of government to harass political opponents.
Even the New York Times reports that Americans think this power grab sucks. Article e here!