categoryMenu_new
 
  Home
  EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  AbundantHope
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Announcements
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  OUR PUBLIC FORUM IS OPEN TOO ALL
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Candace
  Ron
  Rosie
  Jess
  Brian's Poetry
  James
  Giuseppe
  Esteban
  Telepathic Messages
  Candace
  Jess Anthony
  Vince
  Leonette
  John
  Adam
  Bela
  Joyce
  Hazel
  Kibo
  Peter
  Rosie
  Johan
  Lucia
  Lucia G
  Rubens
  Shellee-Kim
  Ben
  Dorothea
  Solon
  Others
  Targeted Messages
  Hano
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Gems from God Like Productions
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  THE WAVE
  Environment/Science
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  Education
  Resources
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Video
  Websites
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Scientific
  Spiritual
  Vegan Recipes
  Translated Material
  Dutch
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Artikelen/berichten
  French
  Canal Jess
  Par Candace
  Other Channels
  Articles
  German
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Italian
  Translations - Candace
  Translations - Jess
  Translations - Others
  Portuguese
  by Candace
  By Jess
  By Others
  Spanish
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Monjoronsón
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  Chinese
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

Search
[an error occurred while processing this directive]
Political Information : True US History Last Updated: Sep 13, 2021 - 6:32:14 AM


Biden's Total Financial Surveillance
By Matt Welch
Sep 13, 2021 - 1:26:13 AM

Email this article
 Printer friendly page Share/Bookmark

https://reason.com/2021/09/08/bidens-total-financial-surveillance/

What if every one of your non-cash financial transactions was automatically reported to a beefed-up, audit-hungry IRS?

Imagine living in a world where every one of your noncash financial transactions-a restaurant meal, a Venmo transfer to a friend, maybe some bitcoin bought on the dips-was automatically reported to a beefed-up, audit-hungry IRS.

That dystopia will become a reality if President Joe Biden gets his way.

Biden, Treasury Secretary Janet Yellen, and key Capitol Hill allies such as Sen. Elizabeth Warren (D-Mass.) are pushing a vast, intrusive financial surveillance system in the name of closing the "tax gap."

But don't worry: There's no need to fear if you've got nothing to hide.

"For already compliant taxpayers, the only effect of this regime is to provide easy access to summary information on financial accounts and to decrease the likelihood of costly 'no fault' examinations," the Treasury Department said this May in a nakedly authoritarian document called "The American Families Plan Tax Compliance Agenda."

But "for noncompliant taxpayers," the department continues, "this regime would encourage voluntary compliance as evaders realize that the risk of evasion being detected has risen noticeably."

The administration's proposed "comprehensive financial account reporting regime" would dramatically increase the types of financial institutions and transactions exposed to the feds' prying eyes. "All business and personal accounts from financial institutions, including bank, loan, and investment accounts," would be forced to "report gross inflows and outflows" to the IRS. And not just bank accounts: The dragnet would now include PayPal, settlement companies, and "crypto asset exchanges," for starters.

The new domestic surveillance program, which requires congressional approval, is one prong of a tripartite strategy for transforming the entire global financial system into a harmonious, haven-free collection funnel to the IRS. The second part, which has taken up the bulk of Biden's multilateral diplomacy thus far, is getting the industrialized world to agree on a global minimum corporate tax of 15 percent, while setting up a system to prevent multinational companies from registering their profits in the lowest-tax jurisdictions.

Cutting corporate taxes is "a self-defeating competition," Yellen said in April, "and neither President Biden nor I are interested in participating in it anymore. We want to change the game."

In July, representatives from 130 countries, including finance ministers from the G-20 representing the world's richest democracies, agreed in principle to a worldwide minimum corporate tax. "We have a chance now to build a global and domestic tax system," Yellen crowed. "The race to the bottom is one step closer to coming to an end."

The agreement still has a significant obstacle to overcome-namely, the legislatures of 130 countries, including the U.S. Congress. But Yellen has some cause to be cocky, because the third prong of Washington's strategy has already been constructed.

In 2009, President Barack Obama promised to generate $210 billion in new tax revenue over 10 years by cracking down on "overseas tax loopholes." While the corporate-tax element of the plan was quickly killed by lobbyists, the individual component remained in the form of the 2010 Foreign Account Tax Compliance Act (FATCA). Built on a foundation of American exceptionalism (the U.S. is one of only two countries that tax citizens living abroad), FATCA imposed onerous new annual reporting requirements on Americans with more than $10,000 in overseas financial institutions. The law brazenly threatened international banks if they didn't rat out their U.S. clients to the IRS.

The results were predictable: Expats were locked out of banking services, record numbers of mostly middle-class Americans renounced their U.S. citizenship, and IRS collections went essentially unchanged. But for a very small political price (no one much cares about the estimated 9 million Americans living abroad), Washington was able to bend an entire global financial system to its will.

An IRS with the ability to compel global transaction data sounds like something out of a Philip K. Dick novel. Yet here we are-unless we consciously cover our tracks.

"Another concern is that [the] information reporting regime will shift taxpayers toward a greater use of cash," the Treasury Department's compliance plan frets. It also notes that cryptocurrencies "already pose a significant detection problem by facilitating illegal activity broadly including tax evasion." Cash and crypto may be the last currencies compatible with privacy.

"I promised to lead the world to deliver a foreign policy for the middle class, and today, we are doing just that," Biden said after the 130-country agreement. Just as long as the middle class has nothing to hide.




All writings by members of AbundantHope are copyrighted by
©2005-2021 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here


Top of Page

True US History
Latest Headlines
Wendy Rogers Reads ‘New Declaration Of Independence' Letter Demanding Nationwide Audits Amid Massive Calls To Decertify 2020 Election
THEY CAUGHT THEM AND THE CROWD CHEERED!! AZ Audit Team CAUGHT Maricopa County Officials DELETING COMPUTER ELECTION FILES —
Imposing An ill-conceived Vaccine Mandate On The US Armed Forces Falls Right in Step With Our Military’s Disastrous Leftward March
Political Appointee CDC Director Rochelle Walensky Overrides FDA Vaccine Advisory Committee and Authorizes Pfizer Booster Shots
It Never Happened: Photographer Who Took Viral Border Patrol 'Whipping' Photo Says Nobody Was Whipped
Deadline Monday, NY Governor Announces All Healthcare Workers Who Refuse Mandatory Vaccine Will Be Replaced With Foreign Workers ASAP
9/11 and Afghanistan Post-Mortems: Lessons in Safe Logic
Senate Parliamentarian Blocks Democrats From Including Amnesty in Gargantuan Reconciliation Bill
Larry Nassar Was Just One Of Comey's Disasters As Head Of The FBI
Justice Thomas Defends The High Court, Warns Against "Destroying Our Institutions"
EXCLUSIVE: Border Patrol to Shut Down All Sector Checkpoints as Migrant Border Bridge Detention Camp Swells to 10K
Florida’s DeSantis Responds to Biden Limiting Florida COVID Therapeutics – Announces Monoclonal Antibody Purchases Directly From Glaxo Smith Kline
Clinton Lawyer Michael Sussmann Indicted For Lying to FBI While Spreading The False Alfa Bank Trump-Russia Collusion Conspiracy on Behalf of Clinton Campaign
Trump Warns Saturday's "Justice For J6" Rally Is A "Setup" Meant To Denigrate Republican Voters
What if Trump and family did the things Biden and family have done?
Biden's Total Financial Surveillance
COVID Data, Facts Not Fear
"Americans Are Tired Of All The Lies" - General Mike Flynn Warns Nation Being Overtaken By Small, Powerful Group Of Marxists
Take a Look At This Jaw-Dropping Gibberish From Autocratic Biden Today, Days After Dictating Terms of Employment to the Nation Biden Decries Autocracy
Quietly Say "No" To Joe Biden's Call For Civil War