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Yellen BACKS the IRS reporting $600 transactions because it will 'fill the tax $7T gap'
  • [Daily Mail, Where America Gets Its News] Treasury Secretary Janet Yellen defended on Tuesday the new requirement that all purchases above $600 be reported to the IRS

  • Said it will help fill the $7 trillion tax gap 'from places where the information on income is opaque and can be hidden'

  • Also said Biden's controversial pick to lead the agency responsible for regulating America's banks deserves a 'fair hearing'

  • 'Professor [Saule] Omarova is the President's nominee... And I think she deserves a fair hearing by the Senate. I hope she will get that'

  • Omarova is a Cornell Law School professor who graduated from college in Moscow, where she attended on a scholarship named after Vladimir Lenin

  • She wrote a paper advocating for the Federal Reserve to take over Americans' personal banking in order to have more policy clout against big banks

  • Republicans and bank lobbyists already oppose her nomination to lead OCC

Posted by: Fred 2021-10-06
http://www.rantburg.com/poparticle.php?ID=614422