EDITOR NOTE: The IRS wants to monitor every bank account and every investment account with over $600 in it. The stated purpose is to prevent a loss of tax revenue from people who are currently evading the IRS or not paying their fair share in taxes to the government. According to ‘Heresy Financial’ host Joe Brown, allowing the IRS to monitor every financial account is a slippery slope that could lead to the government retroactively declaring a financial transaction illegal or taking taxes (or more taxes) on whatever they deem acceptable. The Fourth Amendment protects people from “unreasonable searches and seizures,” but that may not be enough to stop these regulations from going into effect, as we’ve seen with the Patriot Act.
In the latest move towards complete tyranny, the Treasury announced a proposal to have the IRS collect all transaction data from every single financial account with a balance exceeding $600. This includes bank accounts, investment accounts, and accounts with crypto exchanges. And the fact that this would be a direct violation of the 4th amendment may not be enough to stop this from going into effect.
Original post from Heresy Financial