Government snooping on bank transactions over $600 a 'massive search without a search warrant'

FEE’s Jon Miltimore writes, “A former Kansas City Fed president argued the policy was a dangerous trap that was being laid for the middle class.

'It’s a massive search without a search warrant,' said Thomas Hoenig, who served as president of the Kansas City Fed from 1991 to 2011. 'It will be the middle class and the upper middle class who will be caught in this.'

Janet Yellen comes right out and says Treasury wants to snoop in your bank account so the IRS can do more tax audits with "greatly expanded" resources. Why? So the feds can collect the trillions of dollars they are "owed" by taxpayers. https://t.co/8DlouYnMwI

— Jon Miltimore (@miltimore79) October 7, 2021

Hoenig also pointed out that, in contrast to wealthier Americans, most in the middle class do not have lawyers and accountants they can rely on to help them navigate matters with the IRS.

'In the collection of the data, there will be false positives,' Hoenig said. 'That means individuals will be approached by the government about what they’re doing and they will have to spend additional funds to defend themselves. It’s a really bad idea.”

Read the entire column.