Liberalism (Bites)

forehead, right hand, whatever

In case it’s blowing by you, the IRS now wants to know what you spend as you spend it. Figure in a few years cash will be a “loophole” that needs closing? Maybe that’s paranoid. Or maybe not: after all, Life take Visa (and other abominations).

Recommended by the Bush administration, payment-card reporting would require banks and other providers of merchant account services to report credit- and debit-card payments to the IRS. All credit-card sales essentially would be pre-audited, with detailed sales information given to the government.

(Phil Kerpen, Payment-Card Reporting on NRO Financial)

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