Posted on 09/09/2021 4:30:14 AM PDT by gattaca
What if every one of your noncash financial transactions was automatically reported to a beefed-up, audit-hungry IRS?
Imagine living in a world where every one of your noncash financial transactions—a restaurant meal, a Venmo transfer to a friend, maybe some bitcoin bought on the dips—was automatically reported to a beefed-up, audit-hungry IRS.
That dystopia will become a reality if President Joe Biden gets his way. Biden, Treasury Secretary Janet Yellen, and key Capitol Hill allies such as Sen. Elizabeth Warren (D–Mass.) are pushing a vast, intrusive financial surveillance system in the name of closing the "tax gap."
But don't worry: There's no need to fear if you've got nothing to hide.
(Excerpt) Read more at reason.com ...
This is a frightening thing. I’m surprised that it’s getting so little attention in the conservative press.
I hope it can be halted.
It’s sad really... the author thinks they’re “PROPOSING” to do what the conglomerates are already doing.
It goes without saying that the people who extort money from Ukraine or get paid off by China will not actually be tracked by the new system. Financial surveillance is for little people.
This will lead to a transactional tax, touted as the abolishment of the IRS per se. And the abolishment of cash as everything needs to be tracked. They have been trying to do this for years and so far haven’t figured out how it wouldn’t impact average Americans. But...I have a feeling that right about now...they frankly don’t give a darn.
Senate Democrats reintroduce bill to create financial transaction tax
https://thehill.com/policy/finance/543901-senate-democrats-reintroduce-bill-to-create-financial-transaction-tax
Wealth tax. That’s what this amounts to.
Yes. It is disturbing.
I read about this a couple of weeks ago...
I saw somewhere they propose to monitor all transactions over $600. We truly live in frightening times. What is happening to this Country???
Thieves!
“All this while Biden’s boy sells abstract “art” for $50,000 a pop. They got the idea from a CCP bureaucrat in China, whose daughter suddenly became a master painter.”
~~~
How many times has it been said on here over the last 5 to 10 years, some variation on either projection, or them accusing us of what they do?
It’s a recurring theme because it’s a symptom of a dirty rotten disease. Their quest for power, by any means necessary, means that they are constantly looking for ways to cheat, and moreover, they are constantly looking to make sure that their opponents can’t do what they get away with.
In other words, they love the spoils of their racket, and they are scared to death that others will ascend into power using their own dirty methods.
But, of course, ALL of their transactions (payoffs) will be “classified”.
What's happening is that traitors and gimmedats now outnumber citizens who love this country and are willing to do what is necessary to preserve her.
Communists happened to this country, we just call them Democrats and Assistant Democrats.
Once upon a time (1776) there was a Revolution. It was mostly about taxes and the Right to Keep and Bear Arms. Two things the demrats are really hot about these days. Just sayin’.
Yes, the law will be written to specifically exclude certain people.
Hello 1984
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.