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

American Thinker ^ | 10/18/2021 | Monica Showalter

[SeekAndFind]

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.

[struggle]

The only ones for it are those with less than $600 in their bank account

[RBW in PA]

Everyone needs withdraw half of their savings, send a message. The Banks will panic and send their lobbyists to have this removed. You need to make them hurt.

[albie]

“bombing with the public”

...AND? Our Marxist regime cares what the public thinks? When did this happen?

[unixfox]

So THIS is what it finally takes? Nevermind every thing else this rogue agency does.

See tagline.

[rktman]

If you don’t like it you’re unpatriotic like vaxx deniers.

[1Old Pro]

Now if only the feckless GOP could use this as part of their campaign to defeat the socialists. Oh, and they need to first begin with conservative candidates, not assistant Demorats.

[READINABLUESTATE]

Only 69%? Should be 100%.

[livius]

They don’t give a darn what the public thinks. About anything.

[alloysteel]

$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.

[redcatcherb412]

Everyone needs withdraw half of their savings, send a message.

Seriously considering keeping mine at $599.00 if I can get it to there. /S

[Lurkinanloomin]

Eliminating the carried interest loophole would generate more revenue, but that would affect the billionaires, so they won’t do it.

[HandBasketHell]

What difference does it make if it is “bombing” with the public?

[joethedrummer]

The American public ought to be able to monitor every GOVERNMENT spending transaction over $600.

Once again, they’ve flipped good/bad completely around.

[DIRTYSECRET]

I don’t think it matters. A lot of people voted for this crap and we have to fight on their behalf? Make it a sunset law renewable the day after each election. If it’s not an immediate election issue no one will pay attention.

[HandBasketHell]

Now if only the feckless GOP could use this as part of their campaign to defeat the socialists. Oh, and they need to first begin with conservative candidates, not assistant Democrats.

It is up to us to vote out these RINOs in the 2022 primaries. It is literally our last chance to get our country back.

[Nifster]

Too bad it’s not bombing with congress

[struggle]

>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.

[thirst4truth]

My renters pay $600 and $700 every month for rent. we have up to 20 deposits per month at that amount.
Is every single deposit I make every month into my rental account going to red flag the IRS?