Despite an outcry from the American public and small banks, the Democrats are moving forward with their proposal to track bank accounts, with it looking like the only detail subject to change being the threshold (which is currently $600).
Nancy Pelosi just doubled down in defending the proposal, dismissing legitimate privacy concerns by stating that “There are concerns that some people have, but if people are breaking the law and not paying taxes, one way to track them is through the banking measure. I think $600 … [that] negotiation will go on as to what the amount is.” This of course is nonsensical because the IRS is casting a net wide enough to ensnare everyone, and it’s hilariously naive to think that once the government has the bank transaction data of most Americans they’ll do nothing with it except for what they claim now.
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