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URL:  https://boards.fool.com/everettruess-and-government-overreach-democrats-34959492.aspx

Subject:  Re: It's An Invasion of Privacy Date:  10/19/2021  3:52 PM
Author:  NewEchota Number:  2365236 of 2381073

EverettRuess: And government overreach. Democrats willing to cave on finding tax cheats.


Actually, this sounds like a reasonable compromise. Or do you think a lot of people with a total annual deposit or withdrawal worth more $600 would uncover a lot of tax cheats and generate considerable Treasury revenue?

From your link:

Under the new plan, backed by the administration, banks would only be required to provide data on accounts with total annual deposits or withdrawals worth more than $10,000, rather than the $600 threshold that was initially proposed. The reporting requirement would not apply to payroll deposits for wage and salary earners or to beneficiaries of federal programs such as Social Security.
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