Government Intrusions on Financial Privacy

Introduction

We got a lot of E-mails expressing concern about Government monitoring of E-mail, monitoring the Internet, and other forms of communication.   Ironically, one of the most invasive (and pervasive) forms of monitoring/spying performed by the US Government...is financial.   Over the years the US Government has added layer after layer of financial monitoring and financial reporting. Using everything from taxes to curbing crime as leverage...the US Government has a virtually complete view of your personal finances.   While it is obvious to all (expect perhaps for the conspiracy folks) that much of the Government financial information gathering about it's citizens is relatively benign in nature and/or done for expressly noble purposes...it is also obvious that opportunity abounds for misuse of this same information.   Some examples of the financial monitoring conducted on US citizens...

General Income and Expenses

Due to the nature of our Federal/State Income tax process, a significant portion of your financial life is layed out in black and white each and every year.   The inclusion of taxes on "Personal" property means that your cars, boats, motorcycles, ATV's, etc. are cataloged and recorded.

Licensing

A huge number of activities require licenses and personal Identification numbers, It is virtually impossible to do anything without providing your SSN or drivers licenens, as well as other personal information (monther's maiden name etc.)

Credit Cards

Most folks can't live without plastic. The financial records gnerate by credit card usage is very complete and surprisingly vulnerable to inquiry...not only by the Government but also by private individuals and companies.

FinCEN....  (Financial Crimes Enforcement Network)

FinCEN is part of a gigantic ongoing effort by the US Government to acquire, monitor, and analyze the financial information of those living in the US.   FinCEN is not secret but neither is it well known or publicized.   Portions of FinCEN's activities are next to impossible to pry out, even using the Freedom Of Information Act.   One corner stone of the FinCEN operation, is a massive computerized database containing financial transactions conducted in the United States.   Every time you deposit a large check, pay a big bill, buy a car, or do about anything of any size...the US Government records the transaction.
NOTE: FinCEN records EVERYTHING...you don't have to be a criminal or be under any sort of investigation.
For decades car dealers, banks, real estate sellers (to name a few) have had to report all large cash transactions (anything over $2000).   FinCEN was initiated to catch criminals who tried to spend their ill-gotten-gains in cash so as to avoid paying taxes.   Unfortunately, this process will also track and look closely at an innocent person who (for whatever reason) just decided to spend cash.

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