President Joe Biden’s (D) Treasury Secretary, Janet Yellen, is at it again.
She’s defending the plan, buried in the Progressive-Democrats’ reconciliation bill, to snoop into all of our deposit accounts to collect data on each of our transactions of $600 or more. In a CBS News interview, cited by Fox Business, Yellen had this:
…there are “individuals” the IRS does not receive enough information about.
“Look, the big picture is that we have a tax gap that over the next decade is estimated at $7 trillion,” she continued. “Namely, a shortfall in the amount that the IRS is collecting due to a failure of individuals to report the income that they have earned.”
But high-income individuals with opaque sources of income that are not reported to the IRS, there’s a lot of tax fraud and cheating that’s going on….
If she’s not getting enough information on what folks have earned, what information is she using to support her allegation of underreporting? She doesn’t say.
Her “tax gap” is estimated at $7 trillion. Estimated by whom? She doesn’t say.
[A] lot of tax fraud and cheating that’s going on. Based on what evidence does she make this claim of this magnitude of cheating and fraud? She doesn’t say.
Most likely, there is a measure, even a significant measure, of tax cheating and fraud. But when it comes to individuals—including members of the Left’s hated rich and successful—speculation must give way to facts and specific achievements. Beyond that, these allegations of tax cheating and fraud are allegations of crimes, and to investigate these, including snooping into personal or business financial matters, specific probable cause must be demonstrated before a judge and warrants must issue before the snooping can be done.
Absent hard data that we all can see, this preemptive snooping that Progressive-Democrats want to do is simply borne of paranoia.
Into their hearts it has creeped.