That Democrat plot to empower the IRS to snoop on $600 bank transactions is bombing with the public

In their bid to remake the world, Democrats are always surprised to find that their best laid plans are full of unintended consequences.

This time, the "splat" is on them.

Get a load of this Rasmussen poll from last Friday:

69% Oppose Plan To Have IRS Monitor Bank Transactions
More than two-thirds of voters are against plans in Congress to give the Internal Revenue Service access to data on all bank transactions over $600, and most believe Democrats are lying when they say they'll only raise taxes on the rich.
A new Rasmussen Reports national telephone and online survey finds that 69% of Likely U.S. Voters are opposed to legislation that would require banks to report data to the IRS on transactions over $600, including 55% who strongly oppose the measure. Only 23% support the proposal, which is part of the so-called "Build Back Better" agenda Democrats are attempting to push through Congress. (To see survey question wording, click here.)

Well, gee. That kind of puts a monkey wrench into their grand plans to remake the entire American economy through their $3.5-trillion porkulus "reconciliation" bill, which they are still trying to shove through Congress. The bill is big because Democrats know they can often get positive polling responses from broad questions about handouts and making everything "free," but when the ugly specifics get out, public opinion can turn against them rapidly. That's why they don't like standalone bills, such as, say, a bill on amnesty for illegals. Things like that get slipped into behemoth bills on the logic that the public will be so focused on those "free" Obamaphones or similar that they won't notice.

Well, the public has noticed this one — a sneaky scheme to empower the IRS to become Big Brother and snoop on little guys' bank accounts

Yep, empower the IRS to become Big Brother and snoop on little guys' bank accounts on the premise that they might be billionaires cheating on their taxes. That quiet little deet could affect 100 million households, according to a report from Fox23. It reminds me of the kind of logic that existed in Chile in the pre-Pinochet era. Chileans, who now famously produce world-class wines, were actually forbidden in those days from planting new vineyards on the grounds that it could increase alcoholism. Democrats, were they to hear of it, would take that particular idiocy as a how-to guide, so don't tell them.

Now the public know about their $600 snoop-and-spy scheme, and they're turning against it. That's obvious enough as the Democrats scramble to modify the disgusting Trojan horse measure.

$600 is WAY less than a mortgage payment, and even less than a lot of car payments. Some folks have that big a bill for cell phone service.

Just the sheer volume of these payments that are expected to be reported is staggering. Is there enough storage capacity on the vast array of government servers to HOLD all these transactions?

Let alone to retrieve it in any meaningful fashion.

>Let alone to retrieve it in any meaningful fashion.

They probably have an algorithm that does a few things
1. notes any large deposit not from a W-2/1099 source on the previous year’s tax return
2. notes any movement of funds over $1000 from paypal/coinbase/robinhood/venmo/ etc
3. notes any bank to bank transfer under the same SSN

It’s going to become automated to the point where the IRS will simply deduct taxes for assumed evasion and the one fined will have to dispute, instead of the other way around.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.