Financial Tyranny against Political Enemies | Cato Institute
From the so-called 'pro-immigration' administration....
"Last year, the Justice Department started Operation Choke Point, which placed massive paperwork and information burdens on banks and money-payments firms that were servicing legal businesses that the administration doesn’t like, such as payday lenders, adult entertainment, and gun and ammo dealers. In addition, the Internal Revenue Service and Treasury Department came up with new rules for most financial-services companies (including banks) on the globe that may provide financial services to American citizens and so-called American “tax persons,” such as green-card holders."
"Many foreign financial institutions are now reducing or eliminating their investments in the United States, which will reduce the number of jobs and, hence, tax revenue. None of this makes any sense from a tax or economic point of view, but if the government’s real goal is to control and reduce the liberty Americans have over their own financial affairs, it is achieving it."
"If the Obama administration thinks it has a right to go after banks that have gun dealers or dating services as clients because they are not in their definition of the “public interest,” how long will it be before it goes after banks that have as their clients Tea Party groups or other organizations that oppose the administration? What happens if a think tank produces a report that the administration does not like? Will the think tank lose its banking relationship?
How about newspapers that print critical articles the administration claims not to be in the “public interest”? Without bank accounts, newspapers and other news and opinion outlets will find it almost impossible to function."
And what happens if the administration changes? Now they'd
also have a 'new tool'.....
