This segment of What’s Ahead spotlights a chilling proposal from the White House and congressional Democrats that would ultimately destroy all vestiges of your financial privacy.
If Congress approves, the IRS will track every bank account with more than $600 in activity a year. With straight faces, proponents claim this gross invasion of privacy is necessary to catch tax cheats, especially those nefarious billionaires. That rationale, of course, is preposterous, as the truly well-to-do have plenty of accountants and lawyers to protect their interests.
The real target is the middle to upper-middle class and small businesses who don’t have that kind of access and can therefore be more easily intimidated and shaken down.
And make no mistake, the IRS wants to get its hands on every financial account you have, whether it be credit cards, debit cards, PayPal or anything else.
This ghastly initiative must not become law.