Biden regime proposing to authorize IRS to spy on bank accounts of ALL Americans
09/15/2021 // JD Heyes // Views

It got really tiresome to hear the lying left claim that Donald Trump was a "tyrant," an "authoritarian," a "Nazi," and someone who had no respect for the Constitution.

Trump as president was the best friend of the Constitution in generations of American presidents, and not only that, but his judicial nominees were all recommended to him by the Federalist Society, an organization that trains jurists and attorneys to be constitutional originalists.

But since the deep state stole Trump's reelection and installed a dementia president (Joe Biden), the Constitution has been taking it on the chin.

In recent weeks, Biden's regime reissued a moratorium on evictions after the Supreme Court indicated such a moratorium was unconstitutional (it was). And just last week, the king himself imposed a COVID-19 vaccine mandate on businesses with 100 or more employees under threat of fining them $14,000 per violation -- a mandate that more than a dozen Republican governors have vowed to oppose.

But the Marxists who are running the Biden regime aren't done: Now they want to spy on your bank account, according to Reason Magazine:

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.

"For already compliant taxpayers, the only effect of this regime is to provide easy access to summary information on financial accounts and to decrease the likelihood of costly 'no fault' examinations," the Treasury Department noted in May, in what is an extremely authoritarian document titled, "The American Families Plan Tax Compliance Agenda." But "for noncompliant taxpayers, this regime would encourage voluntary compliance as evaders realize that the risk of evasion being detected has risen noticeably," the document continued.

The proposal includes a "comprehensive financial account reporting regime" for banks that they oppose. "All business and personal accounts from financial institutions, including bank, loan, and investment accounts," would be forced to "report gross inflows and outflows" to the IRS, the document states.

In addition to traditional currency, the IRS would also get to spy on Venmo and PayPay transfers as well as "crypto asset exchanges."

Patrick Hedger, vice president of policy at the Taxpayers’ Protection Alliance, says this proposal is a major violation of the Constitution's privacy protections.

“The IRS is first and foremost, a law enforcement agency, and the Fourth Amendment protects against unreasonable searches and seizures in pursuit of, of looking for wrongdoing and criminal actions, so I think this is going to run into severe Fourth Amendment headwinds,” he told the Daily Mail.

“You’re going to push more folks into small cash transactions, you’re going to push more banking offshore … the big fish out there that do have sizable assets that are eligible for taxation offshore,” he said.

He also predicted that more Americans who can will simply hide their transactions by moving them offshore.

In a letter to the Senate Finance Committee’s Subcommittee on Taxation and IRS Oversight, the American Bankers Association pushed back on the “new reporting requirements for financial institutions" because they "would impose cost and complexity that are not justified by the potential, and highly uncertain, benefits.”

“We believe additional reporting requirements guided by subjective criteria have privacy and fairness implications and the potential to put financial institutions in an untenable position with their account holders,” the letter noted further.

Biden and his regime are the real threat to our constitutional republic, not Donald Trump.

Sources include:

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