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Biden Takes Control of our Bank Accounts...

KeepItMovin
KeepItMovin - 586 Views
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586 Views
Published on 12 May 2021 / In News and Politics

Biden Admin lays out plan to scrub our bank accounts for unreported income!! Add me on insta @ThisisJohnWilliams

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The initial freedom we once had is now gone.. The Biden Administration is looking for ways to fund the American Families Plan and looks to raise roughly 800,000,000,000 from our bank accounts. Under this proposal they will be partnering up with all banks in America. Banks will be obligated to issue inflow and outflow reports to the IRS and they will then review our money with what we reported.

In addition to increasing taxes greatly, we will see much much shock come to the market. We will see more people hiding money and more people being careful about the future.

My fear is that if they find one incorrect issue with a small business they will go back another year, if the problem was in that year also, they will go back again and again and do so unto six years (the required allowable time). They will then collect on all of those year and tack on IRS penalties and interest. This will likely push many small businesses into financial hardship.

This proposal is something that I would never have imagined would ever come to America. However now it is here and my prediction is that things continue to get worse and worse as they do whatever they can do to fund all of these proposals. The really wealthy will not pay any of these taxes and will also not be subjected to this over reach as most of their money and assets are well sheltered or off shore.

What are your thoughts on this?!

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