The RESPECT Act needs to get to President’s desk

The federal government currently wields a tremendous amount of power over the citizens of the United States, far more than the Founders intended.One manifestation of federal overreach is civil asset forfeiture. This practice allows the federal government to confiscate the wealth of its citizens upon the mere suspicion of wrongdoing.

The IRS, not content with expropriating the wealth of its citizens on April 15 every year, has now taken up the practice of seizing funds that have been involved in perfectly legal transactions on the basis of a hunch. Thankfully, legislation in the House and the Senate has been introduced to bring this practice to a halt. Both chambers should act on the bills swiftly.

Under the Bank Secrecy Act, financial transactions of over $10,000 trigger bank reporting requirements. If there are multiple transactions of just under $10,000—by a business, for example—the IRS may become suspicious that there is nefarious activity occurring.

That suspicion can result in assets being seized from innocent Americans. As the House Committee on Ways and Means reported last year:

Current law allows the Federal government, including the IRS, to use civil procedures to seize assets the government believes are involved in illegal activity without ever having to prove that the owners of the assets actually were engaged in criminal activity. Current law circumvents ancient concepts like due process and innocence until guilt is proven. The federal government then places the burden of reclaiming the assets on the citizen it targeted.

This situation threatens the liberty of American citizens.

Read more at The Signal