I am aghast at the concept of automatic reporting to the IRS on the activity in my bank account! I choke at the very idea! How can any senator or representative be on record as even considering such a thought? It boggles my mind! Not sure the rational aspect of this statement will resonate with our intrepid legislators, but – FYI – reading a person’s bank statement will not prove tax fraud. Flows of money are, at best, only a piece of the puzzle.
Gathering information on innocent citizens, people not charged with any crime, spreading an illegal search net out to collect banking data on private citizens against whom no charges have been placed? Can this even be under discussion in Washington? Do we have to fight the American Revolution all over again? Against our elected representatives?
Please grab your copy of the United States Constitution and re-read the Bill of Rights. It is being trampled every day by the very persons who have sworn to protect it.
The IRS has an endless array of laws with which to prosecute individuals they have proven cheat on their taxes. According to Investopedia, “… the most recent data from the U.S. Internal Revenue Service, Americans owed over $114 billion in back taxes, penalties, and interest in 2020.”
Why doesn’t the IRS focus their time and resources in collecting these back taxes? Maybe, if they collected the money actually outstanding by people who are guilty of underpayment or avoiding taxes, they could lower the rate of taxation on the rest of us.
Better yet, why not invest in some creative thinking about our existing tax laws and realize the system, as structured, has some flaws.
Here’s an idea: Abolish all the tax laws on the books and change the system to a flat tax with the same rate for everyone and every entity, business and personal. Make no exceptions and allow no exemptions.
Then the Internal Revenue Service could be reduced to a shadow of its present self and the cost of operating that government department could return to the treasury. Anyone think that’s a good idea?
I think so, for a flat tax. No more of the ANIMAL FARM where all pig’s are equal, but some pig’s are more equal than other!
It’s not a new idea, as you well know. But I think it flies in the face of common sense and you know what happens when you pose common sense to the bureaucracy, it’s like throwing water on the Wicked Witch of the West and they are terrified.