The Democrats are proposing that the IRS should be informed of any bank transaction of $600 or greater.
Why? And why set the threshold at an amount that would cover most folks’ biweekly paychecks? Of course, as the gig economy grows, fewer people are on payrolls, but most of us who don’t get W2 get 1099s. Who are they targeting? Small business owners?
Or are they after the spending side? I suppose most families spend at least 600 bucks for rent or a mortgage? What else?
I tell you what—before the public submits to this kind of invasion of our privacy, I believe we should see some transparency from the people who want to do this snooping. Before the American people should submit to such nosiness, we should require that all members of the House and Senate, the heads of each executive department and independent agency, and all federal judges be required to make public any of their financial transactions equal to or greater than $600.
Fair is fair.