The Biden administration recently called for Congress to enact legislation forcing banks to report all transactions valued at $600 or more to the IRS.
Republican representative, Drew Ferguson says it “feels and Sounds a Lot like the Chinese Social Score.”
“Treasury Secretary Jessica Yellen recently said bank transactions valued at $600 or more should be automatically reported to the IRS for surveillance to combat ‘tax fraud and cheating.’ In September, the Biden administration called for Congress to enact legislation forcing banks to report such transactions to the IRS,” according to Breitbart News.
“What they’re trying to do is to control every part of your life,” said Ferguson. “They are looking at your social media posts. They are looking at your finances. They’re going to tie all of this stuff together, and it ultimately feels and sounds a lot like the Chinese social score with the government being in control of every part of your life. If you’re for the party that’s in control, your life is going to be fine. If you agree with big government socialists in your statements — and your ideas align with them, and they’ve got control of your bank account, then you’re going to be the one that gets access to credit. If you believe in freedom, and you believe that the Democrats are wrong about what they’re doing, then you’re going to be denied access to credit.”
“Number one, I think at its core it’s unconstitutional,” Ferguson continued. “The money in that bank account is yours. It does not belong to the federal government. The bank account is yours. It does not belong to the federal government, and the federal government cannot search your property without cause. The same thing applies to your car. It applies to your home. The Democrats want to know what you’re doing.”
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