Jul 9, 2021
Hey, do you trust that all of the information you share with the IRS is being kept safe? As a general rule, it probably has been, but what we're finding right now is maybe it hasn't, maybe there's been a leak. There is a lot to talk about when we're talking about the IRS.
[00:00:19] They of course have all of the information that they can get their hands on. They're already overloaded and we've got the Biden administration now looking for even more data to go to the IRS. You probably already know that if you do a transaction at a bank above $10,000, that it gets reported to the IRS and probably the FBI, the CIA, the NSA, and any other three-letter agency that you can think of course, that doesn't include the BATF.
[00:00:52] Because they're not a three-letter agency as much as they want to meet, but the IRS has records on everything, already that they know what your social security number is, what your name is, what your address is. They also have information about. The business you work for or businesses you work for, they know what you do for a living.
[00:01:13] They know that you have debt and what that debt is. They know your business relationships, your family status, who you're married to, who your children are, if you have disabilities, because of course you put that on your tax forms and. Bunch of other personal data. Why do the bad guys, Rob banks, or at least they used to because that's where the money is.
[00:01:38]So where are the bad guys going right now? We're going to talk more about that a little bit later on today. And if you miss it, you can catch my podcast as well at Craig peterson.com/podcast. But they're going after businesses that take care of cybersecurity. Businesses. So this is a very big deal, but nearly every American has complied voluntarily with paying our taxes, that there's a whole idea behind this system and with the Biden administration now looking at all of this and saying what we want to do now is not the $10,000 limit. That's for wimps. We want to know. Any money that goes into, or out of all taxpayers savings checking or any other accounts or the value of more than just $500.
[00:02:31] So what the Biden administration is looking to do is turn every financial institution into a full-time IRS agent, basically providing them with all of this additional data. And then there's also plans that have been drawn up in Washington, DC. To move us away from the dollar and move us to a virtual dollar.
[00:02:55] And there's even planned. This is just unbelievable. If I had said this stuff a few years back, no one would have believed me. There's also plans to say if you have more than a certain amount of money in your bank, we're only going to give you like a 0.6 equivalent. So they're going to take away 40% of the value of your.
[00:03:13] And if you don't have much money heck we'll just go ahead and give you one and a half to two times as much money as you have in your account. It is incredible here. And with the privacy breaches we have seen in the federal government announced. This really isn't something we can put up with. We can't have them going after everything all of the time, because it just becomes too big, a target.
[00:03:40] And I'm not just talking about a target for the typical bad guys. I'm talking about a target as well for. Bureaucrats that have gone out of control. That used to be that if you were going to be prosecuted, they would have heard a story from someone. So it's yeah. Janie just cared. Jenny just killed her husband.
[00:04:03] So the police hear about it because there's a rumor floating around town. They go to talk to Janie, trying to look for her husband and they don't find her. Huh? And so now suspicion rises and they start investigating, they'll pull Jamie's credit card records. Look at what told booze she drove through.
[00:04:23] They'll look at anything that they can to try and put it together. Who did Jamie call her phone records and talk to those people, try and put together a picture of what happened. But if we devolve into one of these just terrible socialist state that have popped up and failed every time around the world, then what can happen.
[00:04:46] And what always happens is yeah. Yeah. The laws are there, but they're only enforced against people that they don't like. And that's a bad thing. So people that they don't like, I don't know, political people is usually what happened. Here in this country, think of what happened with Al Capone. They went after him under tax laws.
[00:05:08]And in both cases, they're trying to go after a person or people, not crime. So Al Capone. Okay. You could argue, he was doing all of these crimes, getting money through extortion and murder and everything else. So they're investigating that and they found out, oh, he didn't pay his taxes.
[00:05:27] Let's go after him for that. Okay. You could argue that. But what we can see with the government, having all of this information, think about all of our smartphones and our Alexa's and our Google homes and our cars. They all. Everything all of the time. And if the government wants to come after you, they can.
[00:05:48] I remember 30 years ago reading an article saying before he get out of bed in the morning, you've probably broken about 20 law. It nowadays, it's probably more like 50 laws. There's so many of them. There's 20,000 laws. At least there was back then 30 years ago, there were 20,000 laws just on gun control.
[00:06:09] Okay. It's insane. You cannot live your day without breaking a law. So what did they do while they selectively enforce? They selectively prosecute. So what happens here while the IRS. Perhaps selectively leaked information. Yeah. This is a story I'm looking at right now that came from Fox news.
[00:06:30] And they're saying that ProPublica published a story that this is just incredible. Okay. That had information in it. That was apparently from the IRS. Now, this is bad because this is information that wasn't available anywhere else than the IRS. This is information that was private. The IRS, none of this information is supposed to get out, they, you can go after president Donald Trump for tax evasion. Come on guys. First of all, that you can't Sue the president. It's crazy. Everybody would be suing the president that they didn't like a president Biden would have thousands of lawsuits against him right now. And he'd never be able to get a thing done that he was elected to do because he'd have to constantly be responding to lawsuits.
[00:07:21] That's how things were established initially here in this country. And I made a lot of. Pretty close to initially in this country, it made a whole lot of sense. If the IRS has given all this information, that's a real big problem. So the IRS security systems or procedures might've been severely compromised and all those data stolen, right?
[00:07:41] You might've had one or more IRS employees committing felonies by providing what is legally protected, private, taxpayer information to outside. Or a ProPublica could have just made it up entirely. Who knows this story and ProPublica, I don't really want you guys to go there. You can, if you want to do a little research, obviously, but I don't want them to get the hits and clicks and everything else, but these apparently are trolls.
[00:08:11] I've never before seen taxpayer information. June 8th that published this protected taxpayer data in a highly partisan yeah. Surprises, ProPublica, centralized, and misleading. Our article targeting people by name. This is all from this Fox news story. We don't know the scale of this was obviously a breach of some sort.
[00:08:36] Was it a cybersecurity breach or not? I don't like any government agency having any information that absolutely doesn't have to have. And on the case of the IRS, they are, it's easy to argue. They need access to. Records, at least the ones we send them. If they think there's a discrepancy, we'll then have a look at the discrepancy, figure out what went wrong, but they don't need to have everything.
[00:09:06] This reminds me of what happened with the national security agency. Just sucking in all of the data. It could possibly find it. Denying it and then ultimately saying we're just collecting general information. No one's identified in any of this and think of what happened, Mike Flynn, think of what happened with some of these other people in government, where they were identified and there's games that they're playing.
[00:09:34] No, we just don't have time to talk about this today but basically what happens is they can monitor communications that go outside of the country. So apparently they are purposely routing, targeted it data out of the United States. And then back in, so you could sending an email to someone in Washington, DC, or making a phone call and you.
[00:10:00] Phone call your email is purposely being routed by government out of the country. And there's some evidence that this is happening. There's certainly a lot of accusations. I get it. Okay. We need to crack down on people who are evading paying taxes that are owed under the law, but forcing these financial institutions to provide the IRS even more private financial information is going to embolden IRS P.
[00:10:28] To do what just happened with ProPublica. It's going to also in Bolden the hackers, and we've got a story coming up too, about the value of Bitcoin going up and the hacks, ransomware hacks going up along with it because of the value. So we'll be talking about all of this stuff today. There's a whole lot to talk about, I want to make sure you are on my email list.
[00:10:51] CraigPeterson.com. You can subscribe right there and you can get all of these articles I had talked about and more every week. Stick around. I'll be right back.