Bidet wants banks to turn over info on all accounts holding more than $600.

[brianf]

If you were truly concerned about finding the unpaid taxes out there you should be promoting the fair tax instead of pushing bigger and more powerful government.

Im lead to believe through post you have made that you don't like cash as it allows an opportunity to get around paying taxes,
and doesn't allow government to have full control over your finances.






You seem to advocate for a cashless society in posts that you have made .
Now correct me if im wrong but it seems your argument is its stops the cheaters and and your not worried about the government having full disclosure over everything you buy or sell because your on the up and up and aren't doing anything wrong.

In other words , fuck anyone's privacy because everyone needs to pay their fair share.

Hey maybe we should apply that same logic to ohhhhh say your privacy at home . Maybe the government should be able to just mossey on in to you home and do a random check without a warrant . I mean why would you need to worry if your on the up and up and not doing anything wrong .
You mind if I come by your house later and have a look around , because if you do have a problem than you must be doing something wrong.
No need for the 4th ammendment unless your a criminal and trying to hide something?

Your missing the point.

The government already knows your finances. The cash/barter is most likely a very small portion of your personal income.

if you make 100,000$ a year but make 15k on the side…it’s irrelevant for the topic of privacy and the government.

If the government wants to take your “money” you are not capable of feeding yourself by the 15k side hustle one has. So thinking not disclosing the side hustle somehow protects your personal security is illogical


they already know what you buy on line and your personal finances from your tax returns.

and truthfully your argument is a catch 22. On one hand you say “government will come get you” yet the other hand you are willing for cash business transactions to be performed tax-less ,so the government intrudes even farther by increasing the income tax.

In addition because the cash transactions are not known the government punishes law abiding (paying taxes) by increasing taxes while the law breakers continue to escape. That is as “unequal” as policy can be.
.

 

[308guru]

I see a lot of references in this thread to $600 transactions, but the way I’m reading it the IRS will have access to all accounts with at least $600 in the account. Nothing to do with certain transaction values.

 

[brianf]

How is it possible that giving $80 Billion to the IRS for increased enforcement and access to privileged financial records is a politically viable concept?

because the people who voted for Biden out number the the ones who didn’t.

we are looking at it as the minority not the majority. “They” are the majority in the country so it’s s smart move for their base.

 

[Rthur]

Anybody remember the shell corps a huge amount of elite and top gov officials
were exposed partaking in?
Do you think they have stopped?
Exactly how much penalty did they pay?
World bank firms laundering drug monies?
Tax shelters for the largest companies in the world/USA?


R

 

[brianf]

"voted" lol

That's not all there is to it.

Of course, both parties use the modern administrative state to shield congress from voter accountability through executive action and delegating congressional authority to regulatory agencies.

I don't understand how there are enough people that members of Congress will not have voter accountability for passing legislation massively expanding the IRS and allowing the IRS to reach into previously privileged information.

Of course, large corporations support this as they have multi-billion dollar contracts with the .gov and regulatory capture is a real thing.

Whatever increased tax liability large corp.'s have in these bills is more than offset by the amount of increased .gov contracts as .gov spending continues to be a larger and larger percentage of each dollar spent in the economy every year. It isn't exactly a formula for avoiding "chrony capitalism". It's a formula that models itself after the economic system china has where the most important part of business is being in the good graces of the .gov because that is the largest spender in the economy.

It is a continued hollowing out of the middle class.

Hate to say it but the average citizen who votes is just not that smart. And that’s what they count on when passing questionable legislation.

they are unable to balance a checkbook and you expect them to comprehend the federal tax policy and how it effects multi national corporations as well as the individual tax payer.

 

[Shooter McGavin]

Boy, I can't wait for the new bank fees I have to pay so big .gov can see all of my bank accounts.

Tax me harder Daddy

 

[vinniedelpino]

Except you "Non-Poorers" have the money to pay accountants and lawyers and assistants to deal with all that comes with having more complicated taxes, you probably don't care if you have to pay large amounts of extra tax and spend a couple years worth of time fighting to get it back.

This hike is NOT targeted at you, it's exactly the same reason why the IRS spends more time auditing individuals than bigger targets where they could get a better return. It's much easier to bully the "Poorers" as you call them who can't afford to pay the money for all it takes to fight them. It's a squeeze on the lower end of the middle class and the upper end of the poor class. Sure you might be right, but pay up anyways because we'll make it so costly and lengthy to fight us, you'll spend more and loose more than you get back, so pay up sucker.

How many folks are going to have all the receipts for everything they ever bought that they are getting rid of on eBay or FB marketplace to prove that they were not making any money, only getting back less than what they paid for it? And those that do, how many will be selling enough to pay the fees for the fight?

It's a grab to make the poor, poorer.

This is largely true.

The IRS isn't going after the poors. The IRS is going after low hanging fruit. It only seems like the IRS is going after the poors because wealthy people generally have CPAs, EAs or Tax attorneys that file for them that don't make obvious errors.

The IRS has been all but gutted over the last several years. They have limited qualified auditors and they're looking to make the most of their resources. When a self employed landscaper does his return in turbotax and mistakenly writes off the full amount of his mortgage interest on his schedule C he becomes low hanging fruit. It's very obvious he messed up and there's no arguing there. It's an open and shut case and any first year auditor can handle it from start to finish in an hour or two.

Big fish don't make stupid mistakes like that and they have the resources contest audit findings in court. This is a massive drain on resources that the IRS doesn't have. There's also no guarantee they'll see a return on their investment once the attorneys get thrown into the mix.

Truth be told, people are getting away with murder right now regardless of income level.

 

[brianf]

So, your point is that people who vote for expanding the role of the federal .gov are unintelligent?

No I’m saying most people are not that bright and it’s easy to pull the wool over their eyes…

 

[JMGlasgow]

Does this apply to credit unions?

 

[Maxduty]

Meh, I think it's likely they want to have a hard record of people collecting unemployment and still working for cash. I know a few that did it. Made more unemployed than they did in management working. There's also the lack of federal taxes being pain on MMJ. that money is going somewhere and there's a lot of it. They are missing out on revenue. Now, if it starts showing up in banks, that would be a felony. They can seize the money and there will be nothing that can be done about it. Can't explain where it's coming from? Must be drug money being laundered.

 

[Maggot]

Meh, I think it's likely they want to have a hard record of people collecting unemployment and still working for cash. I know a few that did it. Made more unemployed than they did in management working. There's also the lack of federal taxes being pain on MMJ. that money is going somewhere and there's a lot of it. They are missing out on revenue. Now, if it starts showing up in banks, that would be a felony. They can seize the money and there will be nothing that can be done about it. Can't explain where it's coming from? Must be drug money being laundered.

Theyre raiding safe deposit boxes and confiscating peoples stuff, then you have to fight to get it back.

nypost.com › 2021/06/12 › fbi-aims-to-keep-valuablesFBI aims to keep valuables, $86M cash found in safe deposit ...​

Jun 12, 2021 · The FBI wants to keep $86 million in cash and millions more in jewelry and other valuables seized in a raid on a Beverly Hills, California, safe deposit box business, even though a

 

[Maxduty]

Theyre raiding safe deposit boxes and confiscating peoples stuff, then you have to fight to get it back.

nypost.com › 2021/06/12 › fbi-aims-to-keep-valuablesFBI aims to keep valuables, $86M cash found in safe deposit ...​

Jun 12, 2021 · The FBI wants to keep $86 million in cash and millions more in jewelry and other valuables seized in a raid on a Beverly Hills, California, safe deposit box business, even though a

Exactly. However, in this case they over stepped their bounds by violating the warrant. That's going to come back to bite them in court. And with that being a private business, the rules are slightly different than the banking industry.

 

[Snuby642]

They are preparing to take all of it.

You will be given a ration card so you can stand in line for a loaf of bread and a bottle of vodka.

 

[NoDopes]

Theyre raiding safe deposit boxes and confiscating peoples stuff, then you have to fight to get it back.

nypost.com › 2021/06/12 › fbi-aims-to-keep-valuablesFBI aims to keep valuables, $86M cash found in safe deposit ...​

Jun 12, 2021 · The FBI wants to keep $86 million in cash and millions more in jewelry and other valuables seized in a raid on a Beverly Hills, California, safe deposit box business, even though a

And they are getting ripped for illegal search/seizure on those also.

 

[TurboTrout]

This shit really kicked off with little bush, obama dumped gas on the fire, Trump was great but strangely did very little about the spy state he himself complained about as a candidate, bidens handlers like any big gov just are going to make it even worse.

RIP 4th amendment you were good while you lasted.

 

[TurboTrout]

They are preparing to take all of it.

You will be given a ration card so you can stand in line for a loaf of bread and a bottle of vodka.

And people vote for this stuff, this is why the state incentives stupid people to breed

 

[Maggot]

And people vote for this stuff, this is why the state incentives stupid people to breed

NO bread? I'll eat cake.

 

[DarnYankeeUSMC]

The FauxBI is pushing the boundaries to get a ruling. Nevermind the box owners are now getting fleeced by lawyers to get their rightfully owned property.

Exactly. However, in this case they over stepped their bounds by violating the warrant. That's going to come back to bite them in court. And with that being a private business, the rules are slightly different than the banking industry.

And they are getting ripped for illegal search/seizure on those also.

Just like the asset forfeiture laws. Just about the time your case hits a court that is going to rule against the government. They drop it and give you your stuff back. The court says no harm no foul and the government continues to take people's property. Meanwhile the court says that you were not harmed. Except for the thousands upon thousands of legal fees and years fighting the government.

 

[DarnYankeeUSMC]

Get ready for digital currency. China just made it illegal to use crypto currency and I heard something about them requiring tourists to use their digital currency at the Olympics.
If you look into digital currency almost every country on the planet has been gearing up for it

 

[gac700]

The IRS can’t shoulder the task, so the burden goes to the banks, which are operating on slim margins. This will further burden your bank.

Good to see the left and right concerned about this nugget within the 3.5T next round of handouts.

All should be equally concerned about the shots. This is all about control.

 

[TurboTrout]

NO bread? I'll eat cake.

I’d rather eat the politicians

 

[Im2bent]

BWWAAAHHHHAAAAHHHHHH. All you rich fuckers with your AIs and zcos and TTs are fucked. As a poors I don't have 600 in my account and my Savage is worth diddly.....checkmate bitches.....

 

[softcock]

Joe had a Big case of IRS RedAss ..
-

-

 

[rady]

Get ready for digital currency. China just made it illegal to use crypto currency and I heard something about them requiring tourists to use their digital currency at the Olympics.
If you look into digital currency almost every country on the planet has been gearing up for it

This has been proposed already in the U.S. A governmental crypto and the elimination of paper currency. But hey, be happy. You're helping the country to go green and protecting all of those trees, while at the same time, making .gov a lot of green.

 

[TurboTrout]

This has been proposed already in the U.S. A governmental crypto and the elimination of paper currency. But hey, be happy. You're helping the country to go green and protecting all of those trees, while at the same time, making .gov a lot of green.

Just like you’re not sposed to use a VPN to get around the governments parental controls, yet lots of chinamen on Facebook