So help me understand something. Today, I get a paycheck direct deposited to the bank. I pay my bills with ACH transfers. I make most purchases on a credit card I pay off (electronically from my bank) every month. On rare occasions I actually write a paper check. So except for some cash I keep for emergencies, what about the way we do business today is not already 'digital'?
I really dont understand the distinction.
All of the above said, I dont like the idea of more government snooping in my accounts. They already get their 1099's and tax statements from the financial institutions.
Correct. We already do so much digitally. So why do they need this $600 per transaction tracking system? You keep a stash of emergency cash, what happens if say you need to use it. Say an emergency car repair, you pay the bill...guess what there is a good chance it will get tracked or your repair shop won’t take your cash because it will trigger things, so you have to deposit it. Now the government questions is that cash deposit taxable?
Because they don’t believe everything deposited is being properly accounted for. And reality as far as they are concerned...it isn’t counted unless they themselves can track it into the right ‘bucket.’
They say they are about 1.5 years out from introducing the digital dollar. Well along with the new currency will come tracking.
the point is like rlmoral pointed out, if it’s all digital, they can ‘find a crime’ at will- Yes, lots of folks bank digitally, pay bills digitally etc- but it’s a very slippery slope- Under a Rogue leadership anyone who doesn’t comply with the marxist agenda can be ‘investigated and indicted’ by a powerful government with loads of $$ to financially cripple the person even if they’ve done nothing wrong- with a cash society, not monitored, it’s harder for the government to accuse- because there are no records of transactions
AS lot of folks still pay with money- but the left want everything digital- or near everything- for the purpose of control- They can see who you pay- when you pay them etc- ad if transfers are going to conservative causes or businesses that they don’t approve of, they will punish the person for it- it’s already happening-
it’s just that the m ore digital they make things, the more they can control and punish- even when the person has done nothing wrong-
Eventually, if you don’t take the mark and bow down, your accounts will be locked or worse, you’ll be investigated and financially crippled and your cards will be cancelled- Course they won’t be able to stop physical money transactions-
EBH brings up some very good points too- it’s all about control and punishment-