Democratic plan to have banks report transaction data to IRS raises privacy fears

This won't matter if BO, err JB's nominee for Comptroller of the Economy gets consent from the Senate. She is an old school communist who believes we should move to a digital currency. We will never be a free market capitalist nation. "Stakeholder capitalism" or a few on the top who own all of the companies will control all spending and wealth. You will own nothing and like it (if you want to eat).

That's exactly what it is. That's still below the threshold you are permitted to transfer to your children or someone else without taxes each year.