Topic: Tax Cheats

The IRS has implemented new AI software to track "tax cheats," specifically flagging any accounts with cryptocurrency transactions or 1099 income. This surveillance is part of a broader push for a social credit system, which includes the new requirement to report Venmo and Zelle transactions over $600. The Biden administration is also proposing an unrealized capital gains tax that would disproportionately affect middle-class investors.

The recent $80 billion funding boost for the IRS is criticized as the creation of a "shadow army" designed to target small businesses rather than wealthy tax cheats. Gerald Celente points out that the bill protects hedge funds and private equity groups while arming auditors to "shake down" the average citizen. He argues that the federal income tax itself is a criminal imposition that should be abolished.