Biden Pushes Plan to Let IRS Snoop on Americans' Bank Accounts | From the Trenches World Report

Contributing sentiments towards policy:

60% : Patrick Hedger, vice president of policy at the Taxpayers' Protection Alliance, warned that such a proposal could violate the Fourth Amendment, which protects citizens from search and seizure without probable cause.
51% : "The IRS is first and foremost, a law enforcement agency, and the Fourth Amendment protects against unreasonable searches and seizures in pursuit of, of looking for wrongdoing and criminal actions, so I think this is going to run into severe Fourth Amendment headwinds," Hedger told The Daily Mail.
51% : the big fish out there that do have sizable assets that are that are eligible for taxation offshore.
48% : However, critics have noted that Biden's plan is unconstitutional as it would "violate the Fourth Amendment."
48% : The Biden administration says such surveillance would target audits and prevent tax evasion, but some are concerned that it might run up against the Fourth Amendment and those who can't afford to fight tax audits or move their money into offshore accounts.
46% : The IRS estimates that compliance on taxes due on wages is 99% while compliance on 'less visible' sources of income is only 45%.
44% : A Treasury Department report from May claimed that the tax gap totaled nearly $600 billion in 2019 and would rise to $700 trillion over the next decade if left unchecked, roughly 15% of taxes owed.
43% : Other parts of the plan include setting up a global minimum corporate tax rate of 15% and a system that prevents multinational companies from registering profits in the lowest-tax jurisdictions and raising taxes on the rich.

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