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Title : I Volition Non Move A Martyr To The Treasury’S Diabolical Tracking Software
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I Volition Non Move A Martyr To The Treasury’S Diabolical Tracking Software

By Robert Higgs 

FinCEN Form 114, Report of Foreign Bank too Financial Accounts, is a mandatory study to the U.S. Treasury Department. It is non connected, straight at least, amongst payment of income tax. My accountant tells me that failure to file each twelvemonth tin flame effect inward serious penalties, too I accept confirmed that he is non joking. Many existent crimes select forth much lighter penalties from the government.

Think almost this, however. It is non a criminal offense to accept a unusual banking company concern human relationship or other unusual fiscal account. So, the U.S. authorities is threatening to punish—and, I presume, sometimes really punishing—people who only neglect to study doing what is perfectly legal for them to do.

You don’t need a Ph.D. inward political scientific discipline to realize what’s going on here. The Treasury is trying to rails coin related to drug trafficking, taxation evasion, too other U.S. “crimes.” But its means of doing too hence is to impose a requirement on everyone amongst a unusual concern human relationship willy-nilly—and that includes yours truly—and to threaten penalization of anyone who fails to coughing upward the required information.

Need I nation that what banking company accounts I concur exterior the USA is no one’s concern but mine? To punish someone for failure to study this thing is the solely really criminal human activeness on this outrageous scene. I’m non the criminal here; the Treasury is (and, of course, the Congress too president who enacted the laws that authorize the Treasury’s action).

Of course, existence inward the class of persons required to file, I volition file. Indeed, I accept already done so. I accept plenty problem living inward a the world infested amongst impudent, imperious, too abusive governments without making myself a martyr to the Treasury’s diabolical tracking software too its highhanded functionaries.

Robert Higgs is writer of Crisis too Leviathan: Critical Episodes inward the Growth of American Government too Taking a Stand: Reflections on Life, Liberty, too the Economy.

The inward a higher house originally appeared at the Independent Institute.

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