Matt Gaetz, America’s newly-appointed Attorney General, is on a warpath. His latest target? Corruption in Congress. Gaetz has vowed to blow the lid off what he calls rampant stock market manipulation by lawmakers.
He’s calling their actions “treason” and “betrayal,” accusing them of exploiting insider information to line their own pockets while the American public struggles with the consequences of their decisions.
Gaetz’s plan? Drag every dirty detail into the spotlight. He’s set his sights on the STOCK Act, a law that was supposed to prevent insider trading by Congress members but is, according to Gaetz, rarely enforced. The law requires lawmakers to disclose their stock trades, but Gaetz argues it’s toothless.
Violations are common, and penalties are little more than slaps on the wrist. Gaetz is calling out both Democrats and Republicans, promising to end the “business as usual” mentality on Capitol Hill.
Inside the corruption: Stock trades and broken laws
Gaetz says members of Congress are using their positions to make a fortune, exploiting confidential information they gain in closed-door meetings. He’s accusing them of playing the stock market like their own personal casino.
“This is treason against the American people.”
Gaetz is rallying bipartisan support to revisit and strengthen the STOCK Act. He wants tougher enforcement, real penalties for violations, and full public disclosure of every trade made by lawmakers.
According to recent reports, questionable trading activity isn’t limited to one party. Both Democrats and Republicans have been flagged for suspiciously timed trades.
Public opinion is squarely on Gaetz’s side. A recent poll shows that 76% of Americans believe lawmakers shouldn’t be allowed to trade stocks at all while in office.
Gaetz’s crypto crusade and Bitcoin dreams
Gaetz is also pushing legislation that would allow Americans to pay their federal taxes in Bitcoin. He calls it a necessary step to modernize the U.S. financial system.
The inspiration, he says, came from his trip to El Salvador, where Bitcoin is legal tender. Gaetz saw how crypto was transforming El Salvador’s economy and thinks the U.S. needs to follow suit.
His proposed legislation would require the Treasury Department to accept Bitcoin for tax payments. To address concerns about Bitcoin’s volatility, the Treasury would convert payments into dollars immediately. “If we want to compete globally, we need to innovate,” Gaetz said. “And that starts with embracing Bitcoin.”
Several states, including Colorado and Utah, already allow taxes to be paid in crypto. Gaetz believes it’s time for the federal government to catch up.
His bill also outlines how the IRS would handle crypto payments, including updates to its IT systems and new protocols to process transactions. It’s a bold move, but Gaetz insists it’s the future.
IRS overhaul for Bitcoin payments
Gaetz’s plan would force the IRS to adapt—fast. The agency would need to modernize its systems to process Bitcoin payments securely and efficiently. Gaetz’s bill includes a requirement that all Bitcoin received by the IRS must be converted into dollars immediately, minimizing the impact of price swings.
The IRS would need new infrastructure, protocols, and trained personnel to handle crypto payments. Gaetz argues that the benefits outweigh the costs.
He says Bitcoin payments could simplify the tax system, encourage compliance, and make it easier for Americans to settle their tax bills. Critics, however, worry that this could open the door to tax evasion, as tracking crypto transactions can be complicated.
Gaetz’s rising profile got a boost recently when Elon Musk publicly endorsed him for Attorney General. Elon called Gaetz “the Judge Dredd America needs,” referring to the fictional lawman who takes justice into his own hands.
Elon dismissed the controversies surrounding Gaetz, including allegations of misconduct, as baseless. “Innocent until proven guilty,” the eccentric billionaire tweeted, adding that Gaetz has the backbone to take on Washington’s entrenched corruption.
Gaetz is also part of a new initiative called the Department of Government Efficiency (DOGE), led by Elon Musk and entrepreneur Vivek Ramaswamy to slash $500 billion in federal spending by eliminating waste and inefficiency.
The plan targets everything from international grants to federal workforce reductions. Programs like Planned Parenthood and the Corporation for Public Broadcasting are on the chopping block, along with other “unauthorized expenditures.”
Gaetz says the goal is to streamline government operations and reduce the federal workforce, which currently exceeds 2 million employees.
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