If this passes . . . another step closer

One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor every inflow and outflow of an individual's bank account. 

The proposal would require banks to report to the IRS every deposit and withdrawal from an account, including transactions from Venmo, PayPal, crypto exchanges and the like in an effort to fight tax evasion. The IRS would know how much money is in an individual's bank account in a given year, whether the individual earned income on that account and exactly how much was going in an and out.  


https://www.dailymail.co.uk/news/article-9973671/Bidens-plan-let-IRS-SNOOP-bank-accounts.html


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