> how is this not inevitably going to result in abuses or harmful massive leaks?
There probably will be abuses and leaks—-I don’t think anyone should trust the government with population-wide data that is catastrophic if compromised. But on the ladder of OPM data and IRS tax records to e.g. potato registries, beneficial ownership data isn’t that sensitive. Many countries make it a matter of public record with few ill effects. (Counterpoint: Sweden makes tax records public record. The IRS being compromised would be a big deal.)
The church, charity and non-profit exemption is the hole of the bulldozer path that had to be left to protect private civic discourse. This will be abused by the wealthy and powerful. But as a result, there will be no comprehensive database of e.g. donors to prison reform or LGBT causes.
> Counterpoint: Sweden makes tax records public record. The IRS being compromised would be a big deal.
It would be a big deal only because it would shatter current expectations. As you've mentioned, society would operate just fine if everyone's tax records were public. The aversion that people feel towards it is largely cultural - if they were brought up in a different western society, they wouldn't feel that way.
Interesting. Why targeting money specifically? If someone claims that people should not have secrets about their wallets, others may claim no one should have secrets about their bedrooms. After all, "It would be a big deal only because it would shatter current expectations. Society would operate just fine if everyone's affairs were public. The aversion that people feel towards it is largely cultural - if they were brought up in a different society, they wouldn't feel that way" right?
For most people, most of their bedroom activities are public in the US. Specifically, they are recorded in public marriage records that anyone can peruse.
There probably will be abuses and leaks—-I don’t think anyone should trust the government with population-wide data that is catastrophic if compromised. But on the ladder of OPM data and IRS tax records to e.g. potato registries, beneficial ownership data isn’t that sensitive. Many countries make it a matter of public record with few ill effects. (Counterpoint: Sweden makes tax records public record. The IRS being compromised would be a big deal.)
The church, charity and non-profit exemption is the hole of the bulldozer path that had to be left to protect private civic discourse. This will be abused by the wealthy and powerful. But as a result, there will be no comprehensive database of e.g. donors to prison reform or LGBT causes.