Washington, DC — This week, Congressman Jason Smith (R-MO) released a report his office requested from the Joint Committee on Taxation (JCT) showing that nearly 90,000,000 taxpayers making under $400,000 will be subject to the Biden administration’s new proposed bank reporting requirements.
Congressman Smith’s (R-MO) post on the subject stated: “Confirmed. The nonpartisan Joint Committee on Taxation has confirmed to my office that an average 87 million Americans earning less than $400,000 would have their account information reported under President Biden’s proposed IRS spying scheme.”
AMAC Action President Bob Carlstrom said: “This report from one of the official scorekeepers in Congress confirms what many economists have been saying all along about Biden’s policies. Simply put: the “Build Back Better” policies do not protect taxpayers making under $400,000. Multiple tax hikes, directly and indirectly, will fall on the middle class. This latest report from the Joint Committee on Taxation, shows that this extends to snooping on bank accounts of ordinary Americans. The rhetoric that only the wealthy will be subject to tax increases and additional audit scrutiny does not match the clear reality of what this administration is force through Congress.”
Congressman Jason Smith posted the full JCT letter on his social media, available here: https://twitter.com/RepJasonSmith/status/1468227719334961152/photo/2
Remember the government does not make any money, all they do is come up with ridiculous ways of spending our hard earned money – taxes we pay. The also make money off of insider trading and deals with our enemies. They all need to be voted out of office!!!!
I got a tax questionnaire from my CPA asking all kinds of questions that have never been asked before. . will be a concerning point this year for sure. I have nothing to hide but definitely don’t like all the questions. They also have a deadline for all info to be given back to them. Which has never happened either. I didn’t know this had passed, I thought the ITS thing was still being discussed.
This thing is dead is it not?
I am tired of the growing number of people who are not paying taxes. The government needs to crack down on tax cheats!
Dr. Gundry IS NOT A BOARD-CERTIFIED GASTROENTEROLOGIST…..this,EXPENSIVE
UNPROVEN PRODUCT CAN NOT BE CONSIDERED A BENEFIT TO AMAC MEMBERS
Did we expect less?
AMAC and others, please stop them. Clearly lies tax rich now want to.get.rid.small.business and tax job people to pay andnfund their Communism. Their foal only 2 classes: homeless and billionaire (nothing in between) WAKE UP Amaerica get ahold of Congress petitions now. It will be too late if these [TRILLIONS $ ] chapter 11 USA crash the dollar their agemda. American dream IS GONE.Comunism does NOT work when I backpacked Europe in college spies and contrl freaks govt people control every move.
I am so sick of the Biden White House halls of lies. Sure, it won’t hurt people that make less then 400,000….. that is the biggest joke! It has hurt the retirement community that live on very small pension after working for companies for over 25 years and social security. We need term limits and if this had passed several years ago you would not have swamp creatures like Biden, Pelosi, Schumer and some of these other radical Democrats.
This nonsense is lunacy and someone in government is not doing anything to stop the division in our great nation. Tired of asking, why this or why that and where is the FBI ON ANY OF THIS COLLUSION OF BIDEN’S ADMINISTRATION??
Everything that comes out of these slimey politicians mouths are lies. That Biden crime family is as bad if not worse than those Clinton’s. Hes been screwing OUR COUNTRY over for the last 50 years. I knew their intentions when they got their way in getting that ???? elected by cheating. This virus was the best thing that could have ever happened for the lying left loonies. I said when he got elected that the US is doomed, I just didn’t think it would be done so quickly, and the republicans are no better. May GOD bless the USA ❤????????
Is this legal? Where is our privacy? I think Joe is stepping out of bounds here. If not, should be against the law.
If I had money I would bet that they are all registered Republicans.
No errors in article I just read in the AMAC News App? Many of the accounts that would be monitored would most likely belong to Democrats and Independents who should be objecting to their representatives in the legislative branch of our federal government.
Every time Biden does an end run around Congress with an Executive Order or a mandate, he is violating the 9th and 10th Amendments to the US Constitution. He violates the solemn oath he took to uphold that Document. Anyone who violates such an oath cannot be trusted.
He is not a king or not at least yet. These are laws and there is no president who can make a law.
Bidden isn’t even supposed to be there. He cheated why don’t they get his butt out everybody knows it nobody supports him.
I think Biden and his administration has over reached their authority. Time for Americans to rise up an let them know they work for us and to do the jobs they were sent to Washington to do. And that is not to spy on our banking and private lives. We are not socialist yet, so get to work Biden and come up with better ideas and stay out of our private lives.
After living over 6 decades, this administration and all their antics are not American. I no longer trust our government for anything. The administration such as Biden, Harris, Pelosi, Schumer are stirring the flames of hell. I loathe liars, and because of such lies, my family is paying the cost. We are now a socialist nation, what is next……communism? It worked well with Stalin, and Hitler.
I guess it’s time to take all my assets out of the banking system and start using cash and barter to conduct my business.!
This is unconstitutional. Read The 4th Amendment. It prohibits fishing expeditions. Call your Congressman.
Who ever thought, for a moment, that the braying jackasses on the hill would ever bray the truth? And no one has to wait for the tax season to get here to figure out your already being taxed out of your existence? Just look at any of your living expense bills- food, energy and any other essentials, and your already paying for social justice, the environment and the idiocy that is the current Washington “elite” (and this includes 90% of the so called Republican “leaders”. I’m sadly beginning to fear that to take back this country may take more than the mere power of the vote. If we let it get too far out of our grasp, freedom will be another vanishing “right”. It’s a cinch we’re not getting any aid from the likes of Mitch or Kevin. It’s really time to start exhibiting civil disobedience. Even little displays may start to spur on those around you. I think the time for complacency is over. Stay strong and do what’s right.
Is anyone really surprised? Come on man.
I knew this stupid idea was not going to be as advertised. Ol’ Dementia Joe just cannot do or propose something without lying to the American people. He just CANNOT do it. He says one thing that sounds like it might be somewhat palatable but then when it is examined, whoever wrote it changed what he proposed and hoped no one would actually check out what it says until after it has been passed and implemented. Ol’ Dementia Joe does not possess the mental faculties to write this, for sure, and may not have even been able to propose it. Fool us once, shame on you; fool us twice, shame on us. Not all of us are slow learners like you are; if you smack us in the head often enough, we will start to notice and NEVER take anything you say at face value and ALWAYS assume you are lying, or have lied, to us about it. I do not trust ANY Demonrat to tell the truth about anything. PERIOD. A lot of the rest of the country is beginning to wonder about you as well.
The article shows 90,000 instead of 90,000,000 as the headline indicates.
If there were no democrats how would we recognize the enemy?
What is the goal or purpose of this bank transaction reporting, and the reasoning behind it? Not a rhetorical question. Someone in the federal government said, “We need a record of everyone’s banking transactions, because…???, and only for those making under 400K per year, because…???, and we are going to use this data to…???” Does anyone in Congress fight for equal protection under the law? How about the 10th amendment?
This is outrageous! It looks like something from Stalin era Russia or Nazi Germany. It is none of their business what we have invested. They are trying to steal it like the communists they are. Something has to be done to stop this lunacy!
????
DICTATOR Beijing biden is using TERRORIST TACTICS against people who attended the January 6, 2021 RALLY. Has DOJ Raiding peoples homes in middle of night with SWAT Teams and Armored vehicles.
Why hasn’t the FAKE News cnn reported that? Cause cnn is covering up for DICTATOR Beijing biden.
And now, DICTATOR Beijing biden wants to FUND journalist around the world with our TAX Dollars while lying at same time saying he believes in FREE Press while he pushes more Censorship on News and Social Media.
Another day of DICTATOR Beijing biden DESTROYING the UNITED STATES of AMERICA while AMERICANS sit by and let him do it instead of FIGHTING BACK.
When u wake up next Christmas and wonder why there is no more Christmas you only have yourself to blame because you didn’t STAND UP and FIGHT BACK.
NO OIL, COAL, Natural Gas, and JOBS or FOOD. That’s how DICTATORS rule to CONTROL you and that is EXACTLY what has been happening since 1-20-21.
Don’t forget to wear that USELESS Mask but DICTATOR Beijing biden and SWAMP QUEEN pelosi DON’T WEAR theirs along with their ILLEGAL ALIENS buddies.
They follow the science. NOT!
Makes me want to clean out my bank account and keep my money at home. Banks are paying such low interest anyway it’s almost worth not letting them use my money to make money. I’ll just store my money in my mattress and sleep on it. The government won’t have any idea then what I have.
This is designed to make us afraid of government.
Terrorists scare people to control them. That pretty much makes our government terrorists.
It’s what we get for letting a cartel of crooks steal our national government.
MAGA people need to get more active in the ongoing political and cultural cold warfare.
Let’s start with DICTATOR Beijing biden Bank Accounts and Hillary Clinton’s too.
Then let’s go to SWAMP QUEEN pelosi , Schumer, Schiff, Nadler, Feinstein, Kamala Harris, AOC, Omar, Pressley, Cuomo, Newsom, Whitmer, Lightfoot, Facebook, Twitter, Instagram, CNN, MSNBC, CBS, NBC, ABC, NYT’s, Wallstreet, and entire Democrat Congress and Democrat Senate, DNC, DNCC, DNSC, and ALL Registered Democrats.
How much Money will we find traced all the way to Russia, China, ISIS, Taliban, antifa, blm, and Iran?
Don’t forget the $86 BILLION in U.S. Military Equipment he gave TERRORIST with BOMBS and AMMUNITION for WEAPONS of WAR to KILL AMERICANS freely.
And when is DICTATOR Beijing biden going to PAY the $150 MILLION in TAXES he owes?
Wanna push a sub-economy? Keep pushing to federalize / monitor our accounts. Guess What? We’ll go “away”. I remain wary of the tipping point I see pending of civil disagreement and uncivil insurrection, I’m convinced it’s a When, not an If.
I’m confused as to the actual number, too The title says 90 million. The 1st paragraph says 90 thousand and the 2nd paragraph says 87 million. Does anyone proofread/fact check these articles?
This article would have been more useful if it would have outlined the conditions that would trigger additional bank account scrutiny for those nearly 90,000 taxpayers making less than $400,000.
(Also, what percentage of total taxpayers making less than $400,000 do these 90,000 taxpayers represent ?)
This article would have been more useful if it would have outlined the conditions that would trigger additional bank account scrutiny for those nearly 90,000 taxpayers making less than $400,000.
(Also, what percentage of total taxpayers making less than $400,000 do these 90,000 taxpayers represent ?)