Free Republic

Inflation in Turkey is now near 20%...Turkey's currency has been in a downward slide since early 2018, thanks to a combination of geopolitical tensions with the West, current account deficits, shrinking currency reserves, and mounting debt — but most importantly, a refusal to raise interest rates to cool inflation.

Senate Finance Chair Ron Wyden wants to tax billionaires' unrealized wealth gains annually. Biden said he supports the proposal as a potential method to fund Democrats' social-spending bill. "I come from the corporate state of America," Biden said. "I just think it's about just paying your fair share, for Lord's sake." House Democrats have proposed a whole host of options to pay for their $3.5 trillion social-spending bill which includes measures like universal pre-K, tuition-free community college, and paid leave for workers. One of those options, proposed by Senate Finance Chair Ron Wyden, is a change to the way the...

Some Americans are furious with part of the $3.5 trillion spending plan from Joe Biden and the Democrats that would allow the IRS to monitor bank transactions.The administration claims the monitoring would prevent tax evasion and target audits, but some are concerned that it would violate the Fourth Amendment of the Constitution, The Daily Mail reported.The proposal would require banks to report to gross inflows and outflows to the IRS, including transactions from Venmo, PayPal, crypto exchanges and the like in an effort to fight tax evasion. The IRS would know how much money is in an individual’s bank account...

Simply put, the American Families Plan calls for banks and other financial institutions to report more than just a taxpayer’s interest earned, capital gains and losses. Banks and other financial institutions would also be required to report “aggregate account outflows and inflows.” In other words, the IRS will know about all of your bank accounts, whether you earned income on that account or not, how much is in the account in a given year, and how much was transferred in and out of the account.