US Treasury Department Seeks to Track Financial Transactions of Personal Bank Accounts Over $600: The Biden Administration plans on taking unprecedented looks at individual's bank accounts.

NOQ Report ^ | 09/15/2021 | Peter Jacobsen

[proust]

And 10% for the big guy.

[bray]

Welcome to Nazism.

[E. Pluribus Unum]

They are already doing it.

This is just to make it “legal.”

[minnesota_bound]

So now we can know how all the politicians make their millions?

[SGCOS]

meanwhile, the tax code is written to enable trillion dollar corporations, such as amazon, to pay little to zero tax dollars. legally.

what a disaster this fraud has been, and continues to be...

[ConservaTexan]

Fourth Amendment be damned!

[LIConFem]

"Some may argue that privacy is unnecessary because you have nothing to fear if you have nothing to hide."

Anyone who says that is a fool, especially in the times we're living in now.

[I-ambush]

I’m not a constitutional lawyer, but how does this not violate the 4th amendment right to be secure in our papers and effects without probable cause?

[Blennos]

Do they really mean $600 and not $600k? This seems absurd.

[Little Ray]

Corporations don’t pay taxes.
They collect them.

[redgolum]

Exactly.

Right now, they buy the info from the banks and retailers. This just means they don’t have to pay.

[ßuddaßudd]

as usual, they will exempt themselves, friends and family, etc ..

[Alas Babylon!]

Okay, so how do we stop this?

If it’s a proposal, are there hearings where citizens can voice their opposition? Does it require legislation, or is this something the Executive can simply do without oversight?

If we can’t stop it today—due to Nanzi’s and Chuck U’s lock on Congress, can we get Republicans to commit to overturning this when back in charge?

[1Old Pro]

In other words, financial institutions will report any flows in and out of business and personal accounts of more than $600.

That's gonna be one big daily data dump.

[Lurkinanloomin]

They’ll only look through it when you become a target.

[Bob434]

[[ the tax code is written to enable trillion dollar corporations, such as amazon, to pay little to zero tax dollars. legally. ]]

BUT they go after Trump for legally using the same breaks that Amazon and ilk used

[LIConFem]

No, they’ll use software to scan through it to find targets.

[lewislynn]

Corporations don’t pay taxes.
They collect them.

Parroting mindless Hannity (Fairtax) lunacy.

You could use the same idiocy using your own income and the taxes you pay.

[Dan in Wichita]

Unbelievable invasion of privacy and disgusting.

Just got an email from my credit union president urging me to contact my representative and senators in DC.

I've been with this credit union for over 25 years and I do not recall ever receiving any political messages from them. I guess this is the sign of the transitory times we are living in now, and I suspect we will see more unbelievable initiatives soon from those who rule over us. The commies are moving quickly to consolidate power.