Don't Allow The IRS To Monitor Your Bank Account!
The Biden administration wants to track your every financial move. . .
President Biden, Janett Yellen, and the IRS are devising a plan to maintain a continuous "audit" of every American’s bank account.
The administration seeks to fill the $1 trillion gap of tax revenue not received by the IRS.
- Janet Yellon has proposed that every bank account with funds exceeding $600 be monitored by the IRS.
- This would mean a cooperation between all banks and the IRS, wherein the banks tally and report all transactions and financial activities to the IRS.
- The benchmark is placed at a low $600, purportedly to prohibit the wealthy from dispersing their money across multiple accounts, thereby avoiding the "audit."
- Once such privacy rights are forfeited, they will never be regained.
- What probable cause does the IRS have to collect this data on 100% of taxpayers when they claim that only 10-15% of taxpayers are committing serious evasion?
- There are countless ways the measure could and would be leveraged against law-abiding citizens. For example - personal data points based on your financial activity, collected, stored, and used to target you.
- This measure would be the end of financial and economic freedom.
- More context and a deeper analysis can be found in this Chairman's Report.
The Bottom Line:
The administration's plan sacrifices financial freedom and privacy rights on the altar of increased government revenue.
Yes, the tax gap is a real problem. But the only real solution is to abolish the IRS and enact the FAIRtax.
The FAIRtax would increase government revenue and eliminate the tax gap, while respecting the rights of American citizens and protecting financial freedom.
Don't let the Biden administration spy on your personal finances - SIGN THE PETITION TODAY!