David Kirkpatrick

July 25, 2008

All credit card transactions to be reported to the IRS

Filed under: Politics — Tags: , , , , , — David Kirkpatrick @ 9:47 pm

Here’s a disturbing bit of privacy loss that’s not all that publicized. All links are from the blog at RonPaul2008.com, now the site for Paul’s “Campaign for Liberty.”

First the humdrum bit of congressional news:

Yesterday Congress passed a housing bailout bill by a vote of 272 to 152. Here is a typical MSM story about the bill from the LA Times that lauds the importance of these “sweeping measures” that will “stave off foreclosure for 400,000 or more homeowners,” and allow the Treasury to “bolster confidence in Fannie and Freddie” by allowing the government to “temporarily increase its lending” and “buy their stock.” Couched in these terms, it probably sounds good to most Americans.

But there is much that the typical MSM dispatch does not mention (for example, where will the money come from?). For the rest of the story, take 7 minutes to watch Dr. Paul’s video commentary on the bill, which made the front page of Digg in a screaming three hours.

And then comes this odd, and somewhat frightening little tidbit some tax-happy elected official threw in:

  • Finally, buried deep within the bill, and not mentioned in any MSM source that I am aware of, is the provision that every credit card transaction will now be reported to the IRS. How this fits in to the housing crisis is anyone’s guess.
  • Yowzaa. More government creepage. The system really does need blowing up coupled with an effort toward building a new, smaller, better and smarter government — by the people, for the people.