“This will also mean that everybody will have to declare all their checking and saving accounts to the IRS to prove the amount of their savings”
No you won’t. They IRS will already know because the banking bill up for debate right now gives them access to all of your accounts.
“This will also mean that everybody will have to declare all their checking and saving accounts to the IRS to prove the amount of their savings”
Man, you would think that they want to take their money back or something.