Federal Rule Erodes Privacy, Expands Surveillance State Power
Submitted by MAGA
Posted 16 days ago
**Surveillance State Expansion: New Federal Financial Rule Raises Privacy Concerns for Americans**
In an alarming development for personal privacy and financial freedom, the U.S. Department of the Treasury has announced a new rule that lowers the threshold for federal financial surveillance.
Under this new rule, individuals making cash transactions of just $200 in designated ZIP codes along the U.S.-Mexico border will trigger mandatory reporting to the Financial Crimes Enforcement Network (FinCEN).
This drastic reduction from the previous $10,000 threshold represents an unprecedented expansion of government oversight into the financial transactions of everyday Americans.
The stated goal of this measure is to target money laundering and illegal activities associated with drug cartels operating along the border. However, critics argue that this approach unfairly punishes law-abiding citizens simply attempting to conduct their financial affairs.
According to Nicholas Anthony, a policy analyst at the Cato Institute, this move could subject over one million Americans to unwarranted financial surveillance. He argues that instead of lowering the threshold, it should be raised to reflect inflationary realities.
The original $10,000 limit was set in 1970 and has remained unchanged for decades, despite significant changes in the value of the dollar. Current economic conditions demonstrate that $10,000 today would need to be adjusted to anywhere between $80,000 and $180,000, depending on the parameters used.
This new rule echoes concerns reminiscent of the Biden administration's 2021 proposal, which sought to impose similar reporting requirements on gig economy workers, targeting those earning just $600 annually. Such measures raised bipartisan alarm over governmental overreach into the financial lives of average citizens.
As this development unfolds, questions arise about the implications for privacy rights. Lawmakers and citizens alike will need to scrutinize the balance between national security and individual freedoms.
Supporters of the rule may argue it's necessary to thwart criminal activity, yet the unintended consequences for innocent Americans could be significant. The growing surveillance state is a pressing concern, and as more regulations emerge, the message is clear: the government must tread carefully to protect the freedoms that are foundational to our nation.
As we move forward, it will be crucial for conservatives and freedom-loving Americans to advocate for financial privacy and oppose any regulations that compromise our liberty in the name of security.
Sources:
1819news.com
reason.com
cnbc.com
In an alarming development for personal privacy and financial freedom, the U.S. Department of the Treasury has announced a new rule that lowers the threshold for federal financial surveillance.
Under this new rule, individuals making cash transactions of just $200 in designated ZIP codes along the U.S.-Mexico border will trigger mandatory reporting to the Financial Crimes Enforcement Network (FinCEN).
This drastic reduction from the previous $10,000 threshold represents an unprecedented expansion of government oversight into the financial transactions of everyday Americans.
The stated goal of this measure is to target money laundering and illegal activities associated with drug cartels operating along the border. However, critics argue that this approach unfairly punishes law-abiding citizens simply attempting to conduct their financial affairs.
According to Nicholas Anthony, a policy analyst at the Cato Institute, this move could subject over one million Americans to unwarranted financial surveillance. He argues that instead of lowering the threshold, it should be raised to reflect inflationary realities.
The original $10,000 limit was set in 1970 and has remained unchanged for decades, despite significant changes in the value of the dollar. Current economic conditions demonstrate that $10,000 today would need to be adjusted to anywhere between $80,000 and $180,000, depending on the parameters used.
This new rule echoes concerns reminiscent of the Biden administration's 2021 proposal, which sought to impose similar reporting requirements on gig economy workers, targeting those earning just $600 annually. Such measures raised bipartisan alarm over governmental overreach into the financial lives of average citizens.
As this development unfolds, questions arise about the implications for privacy rights. Lawmakers and citizens alike will need to scrutinize the balance between national security and individual freedoms.
Supporters of the rule may argue it's necessary to thwart criminal activity, yet the unintended consequences for innocent Americans could be significant. The growing surveillance state is a pressing concern, and as more regulations emerge, the message is clear: the government must tread carefully to protect the freedoms that are foundational to our nation.
As we move forward, it will be crucial for conservatives and freedom-loving Americans to advocate for financial privacy and oppose any regulations that compromise our liberty in the name of security.
Sources:
1819news.com
reason.com
cnbc.com
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