One key prong of President Biden's plan to bankroll Democrats' $3.5 trillion budget plan is to monitor every inflow and outflow of an individual's bank account. The proposal would require banks to report to the IRS every deposit and withdrawal from an account, including transactions from Venmo, PayPal, crypto exchanges and the like in an effort to fight tax evasion. https://www.dailymail.co.uk/news/article-9973671/Bidens-plan-let-IRS-SNOOP-bank-accounts.html
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