Democrats want to spy on all your banking transactions, and when that story broke, a few things happened. First, almost everyone got the story wrong. Now it has been reported that Democrats are backing off. No. No, they are not.
The initial outrage arose when it was announced that legislation included a provision allowing the IRS to track or investigate any transaction over 600.00 dollars. That was wrong. It “would have allowed the IRS to retrieve all information from bank accounts with more than $600 total activity per year, rather than information on individual transactions.”
A complete forensic analysis of every transaction regardless of size after you’d deposited or withdrew a total of 600.00 dollars in any calendar year. The talking points were that this is to address a tax gap among the wealthy, but as written, it provides blanket permission for on-demand warrantless searches by the IRS of your “papers.”
That also means access to or for any Democrat activist group deployed to ruin th lives of people who make donations to candidates or causes of which the regime disapproves.
Every single political expense, donation, you name it, by anyone in America who moved more than 600.00 through a ban over 12-months could be accessible to partisan agitators.
That’s probably the actual goal.
Eliminate money and make all digital transactions searchable by the state.
While most folks never thought that deeply into it, the idea aroused concern. The result of that was this. Now, the Dems say, okay, we’ll change it to 10,000.00 dollars.
Not 10K transactions. The IRS already gets flagged for that. They mean 10K in total transactions in any calendar year, at which point every transaction is accessible to the IRS and whomever else to whom they might leak it.
If you make 15.00 an hour and work more than 12.5 hours a week, your financial “papers” would be open to an IRS investigation.
If you make more than 200.00 per week at any wage, you could find yourself subject to this snooping. So, do the Dems want to look at the tax gap for minimum wage employees working fewer than 30 hours a week? The minimum income before you even need to pay taxes is $12,400.00.
Why would the IRS want to explore potential tax cheats who don’t even make enough to owe taxes?
They don’t.
Yes, they will make a few (sometimes high profile) examples to justify adding thousands of new IRS agents. And lord knows some sliver of that spending spree has to get paid for somehow. But the goal, in my opinion, is to bypass the 4th Amendment and give the ruling class access to your entire financial life so they can – when needed – apply pressure or provide third parties with the tools to do it for them.
It is all about political leverage. They have not backed off from this goal. The threat still looms large. And don’t be surprised if they pretend to reconcile by changing the annual sum from 1$0,000 to something even larger but well below the average income in America.
The provision needs to be stripped out if the entire 3.5 trillion spending bill can’t be stopped and scrapped where it stands. It’s an affront to freedom and a violation of your Constitutional rights.
