Washington D.C. – Democrats are trying like hell to ram through Congress a $3.5 trillion (actually $5.5 trillion) reckless tax-and-spend bill written by Bernie Sanders. Now, they need to find money to pay for it.
One of the Democrats’ new favorite “revenue generators” is something they claim will prevent tax evasion from millionaires and billionaires (don’t worry, they’ll still get a SALT cut). The reality: Democrats want to put every working American under the microscope.
Should the reconciliation bill pass, the Internal Revenue Service (IRS) will have new authority to look into bank accounts with a balance over $600 or with more than $600 in transactions every year. According to the Wall Street Journal: “A group of 41 industry groups recently warned congressional leaders that the plan ‘is not remotely targeted’ to detect major tax avoidance.”
This massive intrusion by the IRS into the financial matters of nearly every American is not only unprecedented but also wrong and dangerous. The provision would squeeze the working and middle-class families and would hand your personal financial data over to the federal government.
The bill would also provide the IRS $80 million to hire thousands of new workers to examine Americans and their finances.
Big Brother is watching and wants to see more: another Systemic Socialist policy from Biden and the Democrats.
Statement from Spokesman T.W. Arrighi: “Democrats want more of your money and they will not be happy until they squeeze every penny they can out of you. The latest ploy of the Left is to claim they want to crack down on major tax evasion while giving the IRS the power to look into the bank accounts of people with as little as $600. Not only does this mark another Biden Administration lie but it represents a new push by the socialist Left to grow government power over your life, your finances, and your data. Big Brother Democrats are coming for your bank accounts and the results could be devastating.”
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