[PeterPrinciple]

With all the rules, does anyone have time to run their business?

https://cdn.mises.org/the_vampire_economy_20201022.pdf

The totalitarian state has fundamentally changed
conditions of business life. In this book an attempt has
been made to describe the experiences and to explain
the anxieties of a businessman in a totalitarian State.
We shall accompany him to various Party and State
institutions. “\Ve shall try not merely to show how a
private enterprise must be conducted in a State-regimented economy, but also how the fascist businessman
is affected as a human being. We shall deal with the
complexity of trends resulting from the existence of
private economy side by side with State economy. In
conclusion, we shall endeavor to arrive at an understanding of the new social position of the private
capitalist in a totalitarian State and to give an evaluation of the historical role of the authoritarian bureaucracy.

The old type of capitalist who adheres to the traditional concepts of property rights is doomed to failure under fascism.

---

Folks, read this book YOU ARE LIVING IT. It is an easy read. pick one chapter that interests you.

[glorgau]

Thanks. Didn’t even know about this.

I have stakes in a few corps that do small amounts of business (<$10K/year) with very little profit. Just one more thing to make dealing with those a pain in the ...

[Basket_of_Deplorables]

What the...????

Where did this shiite come from???

[Tucsonican]

I’ve been talking to clients about this and most are, to put it nicely, rather unhappy.

My big concerns are with divorcees that might not even think that they are or have been included in an LLC or Corporation filing. There are also TONS of people that have rental properties in LLCs that probably won’t be aware of this requirement.

FinCEN and the government as a whole has done next to nothing to publicize this requirement and it’s a fair bet that various agencies will be going through SecState records to figure out who they want to contact. I see much trauma in a lot of lives beginning in 2025 for all the people that just never knew this was a requirement.

[Wuli]

Notice this seems to be directed at small businesses. Who helped write the bill, the nation’s largest companies??

[Nervous Tick]

According to the article, if it affects you (and it does appear that it affects me, thanks for posting) you have until Jan. 2025 to file. No need to freak out immediately and ruin your December.

[New Perspective]

Just another form of government abuse.

[Organic Panic]

The first thing I noticed clicking the link... (And comeon.... You all did too)

The board table has a white man surrounded by four beautiful white women. HOW is that possible???

[Honest Nigerian]

This came to my attention earlier this week.
Pretty stunning requirement. Reasoning is bizarre, or even more weird than that.
2024 will be an interesting year.

[griswold3]

<$5M? Easy Peasy. Paging Atlas.