Biden tax plan would cull financial data on masses of law-abiding, tax-compliant Americans. In the name of catching tax dodgers, the Biden administration is seeking serious snooping rights to oversee all American bank accounts and payment apps. "Instead of promising a chicken in every pot, Biden's plan promises an auditor at every kitchen table," commented Sen. Chuck Grassley (R–Iowa).
Under President Joe Biden's proposal, 87,000 new IRS employees would be hired and everyone could expect more scrutiny of the flow of money to and from their financial accounts.
As it stands now, the government gets alerted to most income when the payer reports it to the IRS. If someone comes into money and the payer doesn't report it to the IRS, the person paid is supposed to report this income—no matter how small—but it's difficult for the IRS to know if they do not do so. Estimates suggest that "opaque" income sources have a misreporting rate of 55 percent.
The Swamp is a sewage pit, we all know it and none of us really want to cover the costs.
But send me a check anyway!
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