In the Name of "Equity," Biden Wants to Invade Bank Accounts of Virtually All Americans - COSAction

In the Name of "Equity," Biden Wants to Invade Bank Accounts of Virtually All Americans - COSAction: 

The Biden administration has proposed a new tax law that would require banks to report account information to the IRS of all accounts with more than $600. The proposal is being advanced in the name of "equity" and to ensure that wealthy Americans "pay their fair share." But the $600 threshold means that the law would invade the privacy of virtually all Americans and expose them to dangerous, damaging cyber attacks. The Treasury Department proposed the rule all the way back in May, but it has only recently been uncovered by conservative media. The rule would create a "comprehensive financial account information reporting regime" by requiring banks to report annual data for both personal and business bank accounts.