Posted on 09/30/2021 3:04:09 PM PDT by RandFan
@PeterSchiff
The fact that #Democrats want to force banks to report all transactions as low as $600 to the #IRS is proof that the real targets of their enhanced tax enforcement legislation are not the rich, but lower and middle income taxpayers. This is a classic government bait and switch!
@PeterSchiff
If banks have to bear the added expense of reporting all checks as low as $600, not only does this represent a huge loss of privacy for Americans, empowering future oppression by a tyrannical government, but banks will have to significantly raise fees for small checking accounts!
(Excerpt) Read more at twitter.com ...
$600 would include most paycheck deposits, most social security deposits, most rent payments, millions of credit card payments, most mortgage payments, and millions of ordinary purchases or down-payments on big-ticket items. It would involve reporting one or more final transactions for just about every adult in America.
The thing here is that the government is already monitoring ALL purchases in order to form a behavioral analysis profile of each person.
This law just codifies something they’ve been doing for years.
Covid and the lockdowns were a test by the professional lifelong ruling class.
Attest we failed miserably.
The $600 scrutiny is the newest in a long list of things that are coming.
We have prove to them that we will do nothing.
Could be the Democrats want to break the banks. Which will break the rest of the supply chain. Why do they want us to be like Venezuela??
I move money through my checking account often. It is not uncommon for me to have $100k+ in there for a week or two. If this passes I’m going in and asking to open 200 accounts. Each will hold no more than $600 ever.
Spain is making it against the law to make a purchase over 1000 Euros unless you pay with a card. The more you have to keep cash in the bank the easier it is for the government to sieze it in case of an emergency a la Cyprus.
Pull your $$$ out of the banks, completely. Problem solved.
“If this passes I’m going in and asking to open 200 accounts. Each will hold no more than $600 ever.”
I doubt it.
“I move money through my checking account often. It is not uncommon for me to have $100k+ in there for a week or two. If this passes I’m going in and asking to open 200 accounts. Each will hold no more than $600 ever.”
They want to control all the money and all the health care. Just wait till the democrats roll out the negative interest rate plan and the digitized currency plan - those are coming too.
I said when the fake pandemic rolled out to take down the Trump economy- “it’s the end of the Workd” (and everyone laughed)
The domestic enemies also hired 83,000 new IRS agents. 83 THOUSAND. Good, let them bring on the tyranny and try to win elections.
Just another way for Dems to attack political opponents. If Trump were to run in 2024, I have no doubt that bank employees could be enticed to release his financial records or any other political opponent...
4th amendment says this is unconstitutional
Wow, why are you putting that much in checking? For business? If not put it in a mutual fund
Yeah but we currently have domestic enemies in power who spit on the constitution.
How about just massivel gross overreach of government power and intrusion...?
How about being secure in their persons, unlawful search and seizure issue, data mining bs?
How abput we just dont want to live in a big brother country, any more than it already grossly is?
So is the decades old 10k reporting requirement. But here we are
Hey, they won the last big one...
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