Reporting proposal violates rights
To the editor:
Are you aware of the proposed infringement on yet another one of our rights and freedoms as Americans?
The Fourth Amendment is in the Bill of Rights: The right of the people to be secure in their persons, houses, papers and effects against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be searched.
The current administration, i.e. President Joe Biden and Treasury Secretary Janet Yellen, along with their advisers, are proposing our banks and credit unions submit to the Internal Revenue Service any purchase of $600 or more.
If you buy a couch or a cow, our government will know. Do you really want to have that reported to the IRS? Their counter argument to dissenters is that the banks already report to the IRS any interest earned of $10 or more on our accounts. While this is true, how does reporting of our expenditures of $600 or more help to catch tax cheats? If they suspect cheats, and there are a plethora of them, get a legal search warrant and go after them specifically, not after everyone.
This could lead to a tremendous invasion of privacy the likes of which our country has never seen. Millions of law-abiding Americans suddenly could have their bank accounts opened to federal investigators for no more reason than buying a refrigerator. This is simply unconscionable. To make matters worse, under this proposal, saving for college could put an American family on the radar of the IRS, and the costs of such monitoring and reporting most likely will be passed on to the public.
The administration will do it anyway, because they don’t listen to any reasoning that doesn’t comply 100 percent with what they want to do. They are totalitarian and hellbent on controlling every aspect of your life. This policy will be a great start. Call it socialism or communism or whatever term you want to use, it is being proposed.
Everyone needs to call their senators and House members and tell them you do not want your transactions of more than $600 to be given to the government according to our rights and freedoms under the Fourth Amendment.
How much do you want to bet that members of the Senate and House will be exempted from this policy if it is put into law?