Posted on 10/21/2021 2:06:43 PM PDT by JV3MRC
Legacy outlets are making fools of themselves by spinning the news that President Joe Biden’s Internal Revenue Service is targeting Americans and their bank accounts.
The National Review editorial board reported Oct. 15 that a “provision tucked into the House reconciliation bill would let the Internal Revenue Service peer into the bank account of virtually every American.” It continued: “If passed, the rule would require financial institutions to report the cash flows of every account with more than $600 in deposits or transactions.” The $600 reporting threshold was later revised up to $10,000 after backlash. Legacy media outlets went berserk and tried to do everything from painting the proposal as reasonable to denying that the news was real news.
The faux-free market publication Forbes magazine attempted to gaslight readers into thinking the IRS going full-on Orwellian was a good thing. It published a piece headlined, “Here’s Why, Actually, The IRS $600 Bank Reporting Proposal Is Entirely Reasonable.”
(Excerpt) Read more at newsbusters.org ...
What they aren't telling us is, this is cumulative over a year. They are STILL trying to pull one over on us.
The IRS needs to be nuked and the employees can be sent to the gdamn border!
This $600.00 dollar IRS reporting stamp-of-approval was originally a part of ObamaCare actually, and was only killed with very, very little fanfare or publicity when the Repubbies took over the House and could revoke that part of the law.
So, “It’s Baaaaaaaaaaaaack!”
Later it’ll be...
“If you don’t have $600 to your name, what are you afraid of?”
“If passed, the rule would require financial institutions to report the cash flows of every account with more than $600 in deposits or transactions.”
So is this another cost that the taxpayers will have to shoulder or is the government going to pay the banks for their cost of reporting all of this?
After inflation, the IRS will know if you bought a used toothbrush and from whom.
Joking, don’t think Inflation will be THAT bad.
How the hell am I supposed to run my business on an all cash basis thereby evading income taxes if the bank turns around and rats me out? This is tyranny!
“If passed, the rule would require financial institutions to report the cash flows of every account with more than $600 in deposits or transactions.”
So is this another cost that the taxpayers will have to shoulder or is the government going to pay the banks for their cost of reporting all of this?
Between the expense of basically reporting all transactions, and customers pulling their money out of banks to avoid IRS invasion of privacy, this will break a lot of them—which might be part of the plan.
My local bank has a notice when you access their website about this, asking us to contact our lawmakers about it.
The government of late has taken the attitude that Americans should do as they are told. That isn’t really an American trait.
I thought they’d given up on this. Anybody know?
It’s a trial balloon. Once they get that they will then say, there will be a $.10 federal fee on all transactions taken automatically from your account each month. Then 20, 30 and so on.
Do you really believe that is the reason for the law?
Haven't you heard? Joe says it's all free...$0.
It is the only way the DemoRats can pay for all of their leftist agendas. Sucking the middle class and small businesses dry.
Check out the FAIRtax at https://www.bigsolution.org
“When in the course of human events, . . . “
You know the rest!
“It’s Baraaaaaaaaaaaack!”
Yes.
OK, now I know what kind of person you are.
Taxpayer
So am I. 100%. But that is not the point. It is the false logic of if you are not doing anything wrong, why are you worried.
This happened to me about 6 weeks ago. I purchased a mobile home to put on a plot of land near the coast. The model was called the “Patriot”. The wire transfer was held up for two days pending documentation because the word “Patriot”. They equate patriot with criminals now. I had to explain what the money was for and provide proof that the model was called the Patriot. This is what you are saying is no problem.
The slippery slope is real.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.