At a press conference on August 12th, 1986, President Ronald Reagan said, “The nine most terrifying words in the English language are ‘I’m from the government and I’m here to help.’”
These words reflected the general and growing distrust of the government.
Today, this quote could be reinterpreted to say, “I’m from the federal government, give up your personal data, and as long as you don’t step out of line, we will keep you safe”. Not as snappy but truer today than ever before.
By the end of this year, every citizen in the United States will be required to hand over the personal data of their small business, S-corp, LLC, HoA, Board of Directors, Trustees, Real Estate Holdings, etc., to the Federal Government’s law enforcement database, operated by the Financial Crimes Enforcement Network (FinCen) under the Department of Treasury. Welcome to the Corporate Transparency Act (CTA).
President Trump saw this act for what it was, just another way for the Federal Government to target the middle class and their political enemies. President Trump vetoed this unconstitutional power grab in 2019, but it’s back.
In an unprecedented act of overreach, the Federal Government is moving to aggressively collect data on all small business owners, who make up the backbone of the U.S. economy, for reasons that seem “murky” at best.
The sole goal appears to be setting up yet another new database of citizens to monitor, observe, and punish. The Feds are moving to implement the CTA at warp speed, and in seeming total secrecy, as the majority of the millions of small business owners in the United States have no idea this law even exists.
Hellbound and Down 