Will the huge "dragnet" of US citizen's bank accounts be passed into law?
[yahoo.com]
During a recent appearance on Capitol Hill, Sen. Cynthia Lummis grilled Yellen about the proposal’s impact on privacy and the “dramatic new regulatory burden” for banks.
“My question is: Are you aware of how unnecessary this regulatory burden is?” the Wyoming Republican wondered. “Do you distrust the American people so much that you need to know when they bought a couch? Or a cow?”
It's also good to know that someone working up there has a very clear idea of a very real, possible problem with this "Garrett Watson, senior policy analyst at the Tax Foundation, told the Washington Examiner that the collection of such an enormous amount of data about people and their finances raises legitimate privacy concerns. Those trepidations are amplified by the fact that the prevalence of cyberattacks has been growing and the IRS is still facing enormous scrutiny over a massive leak of hundreds of pages of tax data from the wealthiest Americans."
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Feel free to reply to any comment by clicking the "Reply" button.I am perfectly willing to have my financial transactions be reviewed. The only people who are not willing to do so have something to hide.
wordywalt
Level 9
Oct 1, 2021
1
Have you ever spent time in a major US city?
@Flowerwall I live in one.
@wordywalt I could go a lot of places with this, but sometimes people need to figure it out themselves. I'm not going to sit here and pretend with you like you think this dragnet is being set in the right place. Any trips to the less advantaged side of town and you see illicit economic activity often take place in broad daylight. Who suffers most for it? Often POC. But go ahead and tell me now "Defund the Police". I DO NOT BELIEVE anyone who tells me this! Also how much illicit economic activity is even going in banks?
Take a trip to the side of town where employment that is occurring not being reported for tax purposes and tell me the dragnet is set in the right place. What about the rich who haven't paid all income taxes, Why the dragnet at $600? Only ppl who are fooling themselves think the dragnet is set in the right place.
It's a usurping of individual constitutionally guaranteed rights with the supposed claim of "being for a good cause". GET REAL! You one day will be targeted by theives who hacked the gov't website! But guess what the gov't is not to blame! It was just the way it hapoened! I mean not just you will be targeted, every American who has something will be targets, who will safeguard every American? Doesn't it put your individual privacy at risk? Or have I imagined all the hacking that has occurred of govt data? Are you REALLY okay with having your personal info out there like that? I'm not. I don't want to see you or any other American being targets of theives or data breaches, and yet Americans have had their data hacked many, many,many times!
I have nothing to hide, but I don't want the government to have access to my bank accounts. where is the line you will draw for the government to own your life?
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