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This Bill Is The Death of Americans’ Financial Privacy


The Grind:
Ronald Reagan had it right when he said that the nine most dangerous words in the English language were, “I’m from the government, and I’m here to help.”

The Details:
Today’s barons of the Beltway have become so powerful that they’ve dropped any pretense of really trying to help anyone, only increase their power and control over the masses. President Biden’s financial monitoring scheme is the latest example.

The president, or perhaps more aptly, the president’s handlers, announced they want to monitor the transactions of every bank account with more than $600 allegedly to ensure “the rich pay their fair share.”

The left knows what it’s doing. This isn’t about equity, raising enough revenue, growing the economy, or creating jobs. It’s not about going after the super-rich. In reality, it’s about eroding the financial privacy of every American.

This unprecedented scheme is intended to collect massive amounts of data and monitor Americans’ financial transactions for future regulation. It will also hit small businesses and other organizations like non-profits with punitive and aggressive IRS enforcement. Read more…

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