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Biden's Total Financial Surveillance
Reason ^ | October 2021 issue | Matt Welch

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 ...


TOPICS: News/Current Events
KEYWORDS:

1 posted on 09/09/2021 4:30:14 AM PDT by gattaca
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To: gattaca

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.


2 posted on 09/09/2021 4:37:25 AM PDT by livius (.)
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To: gattaca

It’s sad really... the author thinks they’re “PROPOSING” to do what the conglomerates are already doing.


3 posted on 09/09/2021 4:40:56 AM PDT by Brown Bag Special (Trust but VERIFY)
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To: gattaca

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.


4 posted on 09/09/2021 4:42:51 AM PDT by ClearCase_guy (China is like the Third Reich. We are Mussolini's Italy. A weaker, Jr partner, good at losing wars.)
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To: gattaca
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.


5 posted on 09/09/2021 4:49:49 AM PDT by Reeses (Defund the FIB)
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To: ClearCase_guy

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


6 posted on 09/09/2021 4:54:32 AM PDT by EBH (Never trust the government or a politician . 1776-2021 May God Save Us.)
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To: Reeses
$500,000
7 posted on 09/09/2021 4:59:38 AM PDT by palmer (Democracy Dies Six Ways from Sunday)
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To: EBH

Wealth tax. That’s what this amounts to.


8 posted on 09/09/2021 5:08:49 AM PDT by Jonty30 (My superpower is setting people up for failure, without meaning to. )
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To: livius

Yes. It is disturbing.

I read about this a couple of weeks ago...


9 posted on 09/09/2021 5:15:58 AM PDT by sauropod (Bidet was no prize before he put the “d” in “dementia.” - Schlichter)
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To: gattaca

I saw somewhere they propose to monitor all transactions over $600. We truly live in frightening times. What is happening to this Country???


10 posted on 09/09/2021 5:18:50 AM PDT by wetgundog
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To: gattaca

Thieves!


11 posted on 09/09/2021 5:19:30 AM PDT by JudgemAll (Democrats Fed. job-security in hates:hypocrites must be gay like us or be tested/crucifie)
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To: Reeses

“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.


12 posted on 09/09/2021 5:22:05 AM PDT by z3n
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To: wetgundog

But, of course, ALL of their transactions (payoffs) will be “classified”.


13 posted on 09/09/2021 5:27:17 AM PDT by milagro (There is no peace in appeasement! )
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To: wetgundog
What is happening to this Country?

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.

14 posted on 09/09/2021 6:10:28 AM PDT by Avalon Memories (Clowns to the left of me, jokers to the right...)
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To: wetgundog

Communists happened to this country, we just call them Democrats and Assistant Democrats.


15 posted on 09/09/2021 6:15:43 AM PDT by Lurkinanloomin (Natural Born Citizens Are Born Here of Citizen Parents)(Know Islam, No Peace - No Islam, Know Peace)
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To: gattaca

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’.


16 posted on 09/09/2021 6:49:44 AM PDT by shooter223 (the government should fear the citizens......not the other way around)
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To: ClearCase_guy

Yes, the law will be written to specifically exclude certain people.


17 posted on 09/09/2021 6:52:41 AM PDT by Texas resident (Silver alert: There is a guy running around DC claiming he is the President.)
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To: gattaca

Hello 1984


18 posted on 09/09/2021 8:17:26 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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