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IRS Spying Negotiations Continue

Posted by taxguru on October 19, 2021

Mallard.Fillmore.Perpetual.IRS.Audit(10-15-2021)

When the Dims proposed allowing IRS to spy on everyone’s bank account that has at least $600 in it, I had a sneaking suspicion that using such an insanely low threshold so as to encompass everybody was a negotiating tactic. It would eventually lead to people feeling a sense of relief when the break-point for IRS spying was raised to a higher level.

As this news story shows, the second phase of this “negotiation” with the public has been announced by the Dims, raising  the “spying is acceptable” threshold to $10,000. This actually isn’t as big a compromise as it may seem at first blush. It doesn’t mean balances of $10,000 or more, which would exempt a lot of accounts.  It is $10,000 or more total deposits and withdrawals during a year.  That works out to a little more than $192 per week.  That would put a lot more accounts into the IRS crosshairs.

IRS.Spies.On.Banks(10-26-2021)

Their ultimate goal is to make everyone comfortable with the concept of IRS examining every aspect of all of our finances. Once the spying mechanism is accepted as a valid government procedure, even if it begins at $10,000, it will then be an easy step for that number to be lowered.  The camel’s nose under the tent cliché fits here.

This process reminds me of the old joke about negotiating a price for sex.

Current Treasury Secretary Janet Yellen and other wacko Dims can’t stop screaming about the fact that every single person in this country is a dastardly tax cheat and the only way to close the wildly exaggerated Tax Gap is to give IRS even more powers to ignore the Constitution and do whatever it takes to squeeze more money out of everybody.  Dims have never been shy about their guiding philosophy of the ends justifying the means approach to accomplishing their goals, even if those are flagrantly unconstitutional.

Lisa Benson cartoon

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