Posted on 07/28/2008 11:30:52 AM PDT by hripka
A freedom-focused grassroots organization has issued a nationwide alert about a plan in Congress that would require credit card companies, eBay, Amazon, Google and other companies to report what you buy to the federal government.
FreedomWorks chairman Dick Armey said the privacy implications are "breathtaking."
"This is a provision with astonishing reach, and it was slipped into the bill just this week," he said. "Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover and American Express, but the bill specifically targets payment systems like eBay's PayPal, Amazon and Google Checkout," he said.
FreedomWorks said the provision is "hidden deep in Sen. Christopher Dodd's 630-page Senate housing legislation." It was added by the bill's managers without debate and calls for a tracking and reporting system "on nearly every electronic transaction."
(Excerpt) Read more at wnd.com ...
AND now sellers on Ebay are required to offer Paypal on all transactions.
I agree that they’re trying to find a way to tax all online sales.
Democrats suck.
I was going to set up a store and changed my mind a couple of days later. This is the last time. I wrote to Ebay to turn it off or I will close my account. I pay my invoices and have a 100% feedback rating. I guess it doesn't matter too much to them.
If that’s true it’s a lot different from the bank requirement, which requires banks to reports transactions above $10,000 (where many report somewhat smaller ones anyway). This seems to be tracking the seller’s selling more than buyer’s buying, reinforcing the IRS aspect but not the title of the article.
What makes you think it won’t be extended to monitor and report on every single credit card purchase we Americans make? This is the beginning of the NWO fascism which the DemocRats will enable as soon as they slime their way back into the White House.
TAXES!!! Part of the Patriot Act. If you have a business that accept credit cards as a form of payment, your payments end up in a bank acct. If this was included with Fannie and Freddie bill passed last week, beginning in 2010, banks can withhold “an amount” from their payment to you before giving you the balance. According to the bank that processes mine, it could be anywhere from 10-20%. That has yet to be determined. What they will also report to IRS is the name and ID info, including CC# the name of the person who authorized the charge. In our case, it’s only for charges/co-pays for psychotherapy visits. If this was included, we will stop taking credit cards. Patient confidentiality issues and unnecessary reduction - we report income and pay our taxes just fine! IRS also wants to track potential non-reported income and make sure they get some of it. Was told recently that if you go into Bank of America with cash to get a money order, you have to deposit that cash and then draw it out of your account to get the money order. But if you go to Federal Post Office, you can get a money order with no questions asked! Was looking to see if this ended up in final bill but haven’t been able to pull up copy of final bill signed by Giant Wuss to find out.
I think they’re just p’o’,d because we found out that they are hoarding Mountain House #10 cans of food. Even the Turkey Tetrazini is on back order thru 2009!
Thanks for the ping!
Thats almost everyone. Not per transaction over 10k, but earnings of 10k per year.
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There’s a world of difference between 10K in sales and 10K in profits...
Whenever the govt begins systematic methods of theft, people find ways to defeat them. Ebay sellers should simply email high bidders, request checks or money orders, inform Ebay that the sale did not go through, and that’s that. If the procedure is followed by everyone, Ebay will have little recourse.
Say I buy a book on Amazon by Sean Hannity. I'll be on the conservative, probably Christian watch list. Then they will know who have to sew yellow stars on their clothing first.
Well, time to pay in cash and toss out my little keychain store cards.
Are the feds going after itemized lists ????? Or just the transaction itself?
What good will this do? eBay does not permit the sale of munitions, and when I do buy them, I pay with cash.
For me it was they canceled my purchase after I had already paid for it and told me I had to arrange for my own refund with the seller, turning a simple transaction into a giant headache with no explanation as to why it occurred.
Yup!
Cash and barter.
We sold a king size bed and a pop-up trailer on Craigslist. People came with cash. I like that.
On Ebay, I sold a “Magic Bullet” blender sent to us as a (obligation) gift. It was an okay transaction but went onto Paypal and I spent the money there on stupid stuff.
That sucks.
He’s got to mean 10k of revenues.
And ain't that a shame.
Buy lots of ammo.....today.
Ronald Reagan exercised the line item veto, even though he technically didn't have the power.
So did Gary Johnson, the former "Governor No" of NM, who will be running for POTUS in 2012.
All it takes is the will and a little backbone.
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