Neon Nettle
© 2021 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Our Writers T&C's Privacy Support Us © 2021 Neon Nettle All Rights Reserved.

Yellen: IRS Surveillance of $600+ Bank Transactions ‘Absolutely Not’ Spying

'I think this proposal has been seriously mischaracterized'

 on 13th October 2021 @ 9.00pm
 the proposal involves no reporting of individual transactions of any individual © press
'The proposal involves no reporting of individual transactions of any individual'

Treasury Secretary Janet Yellen has argued that the IRS having access to Americans' bank accounts is “absolutely not” a way for the government to spy on U.S. citizens.

During an interview on “CBS Evening News," Anchor Norah O’Donnell asked:

“You want banks to report transactions of 600 dollars or more?"

"That is what the IRS wants.

"Does this mean that the government is trying to peek into our pocketbooks?"

"If you want to look at $600 transactions?”

 the big picture is  look  we have a tax gap that over the next decade is estimated at  7 trillion   she said © press
'The big picture is, look, we have a tax gap that over the next decade is estimated at $7 trillion,' she said.

Yellen replied:

“Absolutely not.

"I think this proposal has been seriously mischaracterized.

"The proposal involves no reporting of individual transactions of any individual."

WATCH:

"The big picture is, look, we have a tax gap that over the next decade is estimated at $7 trillion," she said.

"Namely, a shortfall in the amount the IRS is collecting due to a failure of individuals to report the income that they have earned.”

 if you earn a paycheck  you get a w 2 the irs knows about it © press
'If you earn a paycheck, you get a W-2 the IRS knows about it'

O’Donnell said:

“But that is among billionaires, is that among people who are transfers 600 dollars?”

Yellen replied:

“No, it tends to be among high-income individuals whose income is opaque, and the IRS doesn’t receive information about it."

"If you earn a paycheck, you get a W-2 the IRS knows about it."

"High-income individuals with opaque sources of income that are not reported to the IRS, there is a lot of tax fraud and cheating that is going on."

"All that is involved in this proposal is a few arrogate numbers about bank accounts, the amount that was received in the course of a year, the amount that went out in the course of a year.”

[READ MORE] Biden Voters Flood Twitter to Express Deep Regret

Share this post:
Steve Quayle Neon Nettle telegram

Facebook is heavily censoring information from independent sources.

To bypass internet censorship, connect with us directly by enabling our notifications (using the red subscription bell in the bottom right corner) or by subscribing to our free daily newsletter.

Get the latest news delivered straight to your inbox for free every day by signing up below.

SUBSCRIBE NOW

Subscribe to our mailing list

Follow Neon Nettle


PREV
BOOKMARK US
NEXT