Nancy Pelosi, Elizabeth Warren, and co. insist that the IRS needs to know about $600 bank accounts.
by Matt Welch
Reason.com
House Speaker Nancy Pelosi (D–Calif.) snapped when asked Tuesday if the proposal to dramatically increase the surveillance capabilities of the Internal Revenue Service (IRS) would remain in the trillion-dollar social spending bill currently being negotiated among Democrats on Capitol Hill.
“Yes. Yes. Yes. Yes. Yes,” the speaker said. Then she waved aside the questioner’s accurate comment that banks have reported customer concerns about the idea that the IRS would scrutinize accounts with inflows and outflows as low as $600.
“With all due respect, the plural of anecdote is not data,” Pelosi said, disrespectfully. “Yes, there are concerns that some people have. But if people are breaking the law and not paying their taxes, one way to track them is through the banking measure. I think 600—well, that’s a negotiation that will go on as to what the amount is. But yes.”