| Isn’t $10,000 where it was originally? Pure genius, guys. |
...knaves, footpads, and adjustersemployed by the Biden Crime Family. They leave a trail of havoc everywhere they turn their attention, be it the nation's borders, the Keystone XL Pipeline, or epidemics, sometimes on purpose, most times through sheer arrogant ineptitude. They learnt this stuff in college, you know...
's proposal to crack down on Americans it suspects are dodging taxes.The administration's original proposal was greeted with overwhelming opposition from fiscal conservative groups, the banking industry and other over concerns about financial privacy.
The initial plan, conceived by the Treasury Department and Senate Democrats, would have allowed the Internal Revenue Service access to information on bank accounts that had at least $600 worth of annual deposits or withdrawals.
The new proposal will still allow the IRS
...the Internal Revenue Service; that office of the United States government that collects taxes and persecutes the regime's political enemies...
to access information on accounts that transfer or receive more than $10,000 annually. However,
it's easy to be generous with someone else's money...
it will exclude all wage income from counting toward the $10,000 threshold.
While Treasury Secretary Janet Yellen has been adamant in her position that the new measure would amount only to essentially a technical set of changes, critics of the proposal argue that the new rules would massively expand the IRS's ability to snoop on the accounts of Americans.
The goal of the proposal, broadly, is to enable the IRS and Treasury to better identify wealthy tax evaders, which in turn will assist congressional Democrats and the Biden administration to pay for the proposed trillion-dollar spending plans of which it is a part.