In an exchange with Fox News White House correspondent Peter Doocy, she completely fumbled her answer to the following question. “Is the plan to catch billionaire tax-cheats by snooping on accounts that just have $10,000 in them?”
Circle Back Jen replied, “That’s not exactly an accurate description, so let me help you with an accurate description of what is happening here.” She then proceeded to stumble and bumble through a reading of a report by Treasury Secretary and former Federal Reserve Chairperson Janet Yellen.
Democrats want to tax evaders for billions of dollars. U.S. Treasury Secretary Janet Yellen thinks that this will make it harder for wealthy Americans to conceal taxes. Maybe she should ask Joe Biden and Nancy Pelosi how they do it. She seems to think that the top 1% of citizens avoid paying $160 billion in taxes.
Yellen is a fool. If she wanted to catch the top 1% of Americans, she would audit them. All of them. With a fine-tooth comb. But she doesn’t want to make her friends mad. She might miss out on some fancy Christmas parties.
After taunting Americans who are harmed by the Biden-Harris maladministration supply chain problems, Psaki is lying again.
She thinks legitimate fears about the IRS surveilling bank accounts will disappear if she waves her magic three-ring binder.
Even liberals realized this is a horrific plan and recently raised the proposed IRS bank reporting threshold back to $10,000. To catch illegal tax avoidance, Janet Yellen used big data to monitor everyday Americans’ sales of cars and furniture. Usually, financial tracking at this level is meant to catch money laundering. You never know where Mexican drug cartels and Islamic terrorists hide their money.
Senior Democrats in Congress have consented to abandon their insane previous proposition of tracking all $600 and over transactions. Some rational Americans thought that this was excessively nosy.
U.S. Senate Finance Committee Chairman Ron Wyden on Tuesday said we should keep the limit at $10,000. The Internal Revenue Service was prepared to be acting like a de facto intelligence operation treating all business transfers of $600 or more as evidence in a criminal case.
The Democrats’ broad compromise means banks will stick to reporting daily exchanges of $10,000 or more.
Republicans were maddened by this socialistic move to further implement a police state by having private banks report withdrawals and deposits of $600.
Jen insisted that this was meant to assist the IRS to catch wealthy citizens who don’t depend on ordinary “W2” wages. You never know how Jeff Bezos and Mark Zuckerberg are concealing their murky wellspring of venture capital. Perhaps you should question them, or better yet, have the FBI look into their money. Does anyone think that Christopher Wray can figure out how these oligarchs are hiding their money?
Jen echoed Democrat Senator Elizabeth Warren (M.A.), who said that W2 wages are exempt. But in the Biden economy, people will need to make money moonlighting as drivers, writers, and workers. All this income would have been tracked, and that is the point. These people want you to be looking over your shoulder and make your life miserable.