electronic banking

Matt Welch: Financial Privacy Dissolved

Broadcast Running Time: 25:16

John Loeffler

June 21, 2021

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Where power and money goes, trouble grows. And nowhere is there more power, money, and trouble than the U.S. government. Back with us today is Matt Welch (reason.com), Editor-at-Large at Reason Magazine. Even though it has never worked, governments still try to tax their way into prosperity. The IRS is now going after back accounts of expats living abroad to counteract what is known as off-shoring one's money. But the offshoring exists because of the IRS's onerous tax practices. Part of this attempted money grab is snooping on financial records – which would set a dangerous precedent. Governments could snoop into your bank account and wield an immense amount of power and influence over anyone at any time.