Joe Biden gave the IRS this scary order that could affect every American’s bank account
Joe Biden is imposing the most radical agenda of any President in history.
But there is one nasty surprise tucked into a massive tax-and-spending bill that Biden doesn’t want Americans to know about.
And Joe Biden gave the IRS this scary order that could affect every American’s bank account.
Democrats are hoping to “pay” for their massive $3.5 trillion-dollar socialist expansion of government by further empowering the IRS to harass Americans.
And what is really concerning is that the manner in which the Biden administration proposes to do this would allow the IRS to spy on every American’s bank account.
Virginia Congressman Bob Goode authored an op-ed on Breitbart where Goode described how the Democrats’ $3.5 trillion-dollar tax-and-spend scheme forces every bank and credit union in America to report all transactions over $600 to the IRS.
Currently banks only report transactions of more than $10,000 to the IRS.
Representative Goode wrote:
President Biden and Democrats in Congress now want to force your bank or credit union to report any and every transaction of $600 or more to the IRS. This action is a huge leap from the current requirement to report transactions of $10,000 or more and is textbook government overreach. One purpose of the initiative is to capture more money from Americans to pay for the record $3.5 trillion Democrat socialist spending spree.
Under the guise of holding the wealthy accountable for their fair share of taxes, the Biden IRS will actually be targeting middle America. The proposed regulation would apply to all business and personal accounts, affecting the lives of all American workers and small employers across the country. Biden’s IRS power grab is just the latest demonstration of the contempt his administration and Democrats in Congress have for business owners and job creators.
Congressman Goode argued this Big Brother rule allowing IRS agents to snoop around Americans’ bank accounts violates the Fourth Amendment protections against unreasonable search and seizure as well as the ninth and tenth amendment provisions limiting the powers of the federal government.
Biden’s approval numbers tanked as Americans realized many of the things Biden campaigned on – unifying the country, ending the pandemic, restoring normalcy to government – were just empty promises.
When Joe Biden campaigned for President, he never told Americans he would hand the IRS access to their bank accounts.
But now Biden is threatening to unleash the IRS on every American.
Joe Biden could get a rude awakening if he thinks that will help reverse the polls and his political fortunes.