Dan Celia, President and CEO of FISM
“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” – Benjamin Franklin
The Biden administration continues to assert that their spending is not going to cost anything. It’s true that it may not cost them anything, but it will definitely cost the American people. Beyond the simple math missing from this equation, there are big red flags waving concerning financial government overreach that nearly everyone is ignoring.
While we don’t know the specifics of what will be passed in the leftist-wishlist reconciliation bill, it is likely that it will include several new taxes, even if not titled as such. The bill is set to include a mileage tax which would track your vehicle and pave the way for other burdensome “green” taxes, much like the U.K. now has. The proposed bill also includes funding to hire 80,000 new IRS agents. They will use these agents to enforce and more closely track individual financial transactions for tax accountability.
This new access to taxpayers’ personal transactions creates a scenario that will enable them to quantify how much they would stand to gain by instituting a transaction tax. Again, they may not actually call it a “tax” but they could begin collecting fees for all transactions over a given dollar value. For now, all banks will be required to report on any financial transactions amounting to $600 or more. New regulatory burdens are certain to follow. With this quietly achieved move into personal finances, the U.S. government is setting itself up to track its citizens and fleece our accounts at will.
Our globalist minded administration continues to ravage the U.S. economy with egregious spending while sabotaging U.S. small businesses, agriculture, and the oil industry with unfair and illogical regulations. As inflation soars and our supply chains break down, Americans are already facing an ominous financial future.
But why stop at that? Biden and his puppet masters certainly won’t. It should be shocking to us that no one is sounding the alarm on all of these proposed taxes to the American people. To be clear, these financial manipulations will not just impact the rich. This will impact Americans from every economic class, and probably most hurt the low-income families and individuals who already have very little discretionary cash as it is.
If we allow this “leadership” to continue at this rate, America will see its people no longer able to stand financially independent, undermining an essential intent of our nation’s founders. We will soon see the majority of Americans reliant in some way on the government for healthcare or financial assistance. As the government places more burdens on its citizens, it sets itself up to be more needed, and to claim more control.
I frequently hear people say in response to concerns over socialist or communists trends in Washington, “That will never happen in America.” It’s happening. It’s happening now. These are not concerns for the future generations of America. It is our very clear and present danger and it is time for Americans to wake up.