While you were distracted by Wokism vs Trumpism

I checked it out and confirmed this isn’t just conspiracy but really is in the works.
This is an example of the kinds of things I find disturbing.
It has nothing to do with wokism or antiwokism, Biden and Harris or any other distraction.

While so many Americans are distracted by nonsensical narratives, yet another right to privacy has been completely bulldozed.

Summary: Banks and financial institutions will be required to report to the IRS all transactions in all accounts with more than $600.
Yes, when I first saw it I thought “conspiracy bs”. But no, confirmed it is an actual thing.

Ah, well. Talking about it in our office today it’s going to be a goldmine for us.

Gonna be lots of unhappy people getting audit letters from the IRS in a few years.

Me in 2023:

Crypto is something gov needs to sort out. Im not into crypto so dont.have any issue.

I guess no more under the table contractors so I send a 1099 they they get hit, meanwhile I get the deduction.
Seems like will disproportionately hit the Small Biz folks.

Kudlows take on the DNC taxer blaster plan. Doesnt expect the Biden Stazi Tax Enforcement to pass.
Kudlow might not be Don Lemmon, but he trys. Lol

Politifact says Mostly False

I’ll put Politifact’s summary here:

Under the proposal, financial institutions would be required to annually report the total inflows and outflows from bank, loan and investment accounts, if the total is at least $600 in a year, or if the account’s value is at least $600.

The headline contains an element of truth but ignores critical facts that would give a different impression. We rate it Mostly False.

So yes, this proposal does in fact exist and is seriously being looked at. It can be implemented through reconciliation, which means it does not have to pass a 60 member vote in the Senate. All this is true.

Politifact addressed the straw man of Infowars and declared what Infowars was spinning about this proposal was mostly false.
Honeslty I never watch Infowars after a couple of times showed to me they do similar spin with every item of news.

So we’re running the Critical Theory OS on one aspect of the Reconciliation Bill.

What if we were to task the IRS, and government across the board, to automate it’s functions and greatly reduce operational costs (yes, and lay off 100,000’s of government workers). It’s no different than private enterprises. And if we want to maintain federal, state, local, or military “jobs programs”, let’s call them “jobs programs”.

I think underlying this post is that many many citizens are highly suspicious of the government’s motives and healthy boundaries with our lives as citizens. It’s perhaps a “shadow” from the Evil Ming the Emperor of Mars of the past, a very real threat of a totalitarian “shadow state” looking to expand power and control, or both.

Its a fact that the proposal exists and is seriously being considered, and has a serious chance of being included via reconciliation.
Without any Critical Theory - it’s a decision that will balance privacy vs opportunity to increase tax revenues and increase enforcement of the tax code. The IRS is not in any way planning to lay off any workers (I’m not sure where you are getting that from except pulling it magically from thin air) - they are budgeting a 10x increase over 10 years (double annual budget). This is because it’s very clear math that a dollar spent on increasing enforcement brings in much more than the dollar spent.

That’s just a clear and unbiased brief.

Anything else like suspicion of the government or fear of “shadow state” I agree might be Critical Theory.
Unfortunately Politifact chose to fact check the hyperbolic paranoid spin of Infowars rather than the actual thing that is well under way towards being implemented.

The IRS has the mission and responsibility to tax every $ or NooCoin that moves within the US.
If they’re going to do this, I would prefer they get really efficient and downsize their payrolls.

Yes indeed - those small businesses have been getting away with hiding their small dollar transactions long enough.
Go team big government.