Posted on 09/26/2021 7:41:32 PM PDT by madison10
On "Glenn TV" Wednesday, Glenn Beck said he's just as nervous about America's future today as he was in 2007, except this time it's not just the economy he fears is near collapse. Inflation is out of control. You feel it every time you buy anything these days. And now, even with income tax, sales tax, property tax, death tax, capital gains tax, and ESG-related tax rate increases, the taxes you're paying are no longer enough for the government. To ensure you're paying your "fair share," the Biden administration now wants to require banks to report aggregate transactions into and out of all personal and business bank accounts whose "inflows and outflows of an account total at least $600 in a year, or if the account has a fair market value of at least $600."
"It's $600," Glenn exclaimed. "That's not for the wealthy. That's for everyone."
Glenn broke down the details of President Joe Biden's proposal, which states:
This proposal would create a comprehensive financial account information reporting regime. Financial institutions would report data on financial accounts in an information return. The annual return will report gross inflows and outflows with a breakdown for physical cash, transactions with a foreign account, and transfers to and from another account with the same owner. This requirement would apply to all business and personal accounts from financial institutions, including bank, loan, and investment accounts, with the exception of accounts below a low de minimis gross flow threshold of $600 or fair market value of $600.
You are not alone, yet people vote for this piece...unfortunately he is not the only one as there are others pulling his strings.
Look buttheads: Just make sure it’s provable. Don’t just throw it up on the wall to see if it sticks. That’s what the rats do and it works-for them. When you have proof then you raise hell.
What “buttheads” are you talking about?
https://www.foxbusiness.com/politics/biden-tax-plan-irs-access-bank-account
Biden’s IRS bank account snooping plan faces mounting opposition
Biden’s plan would give IRS enormous amount of new information to manage
I hope everyone understands what it means if this passes.
This will not go down how many think.
As soon as something like this passes, there will be an immediate run on the banks which will cause an instant collapse in what little is left of our economy.
The dollar will become worthless literally overnight.
that $600.00 will be worth more like $6.00.
And there will be no way to reverse it.
Glenn Beck? If it’s true even the MSM can’t deny it. Don’t run with $hit. Prove it first.
Prove what, genius? This info is all over news sources. Is that you, Joe?
I just posted from FOX Business. The info is all over the place:
https://news.yahoo.com/democrats-raise-cap-biden-irs-110000327.html
https://www.freedomworks.org/content/warning-if-you-have-more-600-your-bank-account-irs-wants-know
This has been on most conservative news sites for 39 plus days. The only reason it’s big news now is banks are pushing back because it will cost billions for them to track each account and report it to the gov. What’s really goin on is an attempt to tax every penny of the underground cash economy like electricians and dry wall finishers working side jobs for cash on nights and weekends.
Whose business in government is it that I’m putting strippers through medical school…
None whatsoever. They do not need to know about your still, either.
$15/hour = $600 gross pay per week. Better not save any of it.
Im a senior citizen and I have $610 ...does this mean Joe is going to tax me again to supply his funds for his illegal aliens ???
Something, something, 4th Amendment ... The United States Government and its courts view the Constitution like a worthless scrap of faded parchment.
I’m beginning to agree: they have indeed rendered the Constitution — indeed the law itself — worthless in protecting individual liberty.
LoL!... better to be pissed OFF than Pissed ON!
Not sure. It sounds all nice and fluffy, you know, just looking for bad people. Are they taxing everyone, or looking for people with underground income? This would be full commie before long. Just the camel’s nose under the tent.
Good one.
Impeach 46.
Perhaps that is the entire point of this madness.
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