Posted on 09/24/2021 7:38:48 AM PDT by Red Badger
“more than 40 banks urged lawmakers to vote against such a proposal, warning it could create a “tremendous liability” for all involved by requiring the collection of financial information for the majority of Americans”
The 4th amendment comes to mind.
Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Only liberals could think accumulating such an enormous, indiscriminate data base open to limitless abuses is reasonable.
They’ll be tracking half the transactions at Walmart.
If passed, I hope people do what I plan on doing. I’m going to set up automatic transfers to rotate money though a few accounts. Transfer $500 three times per week and you’ll have an extra 156 transactions totalling $78,000 for the IRS to dig through every year. If a hundred million taxpayers did that it would be $7.8 trillion to track.
That’s right. Every paycheck $600 or more willl be reported. The IRS will not be able to keep up.
Most of this work will be farmed out to Indian companies. Just what we don’t need: Ramesh aka “John” with access to your bank account.
Penalties. The IRS is infamous for excessive penalties for just about everything.
More likely Nigerian Princes...................
I just pinged lowbridge, he’s our resident expert on dealing with Nigerian princes...lol.
Know the immense corruption of the Biden Crime Family and their cronies in government service, EVERYBODY’S BANKING INFORMATION WILL BE LEAKED AROUND THE WORLD IN A MATTER OF DAYS ONCE THIS BECOME LAW.
EVEN THE LIBERALS KNOW THIS...........................................
Aaaannndd THERE ya have it.
It’s a bad plan because it “would give the IRS an enormous amount of new information that it would have to learn how to manage and use.”
Couldn’t POSSIBLY be a bad plan because — oh, I dunno — maybe it TRAMPLES THE CRAP OUTTA THE 4TH AMENDMENT!!
NOOO!!! NEVER THAT old “Constitution” thing! Not Possible! Why even mention it; are you some kind of foil hat, conspiracy theorist prepper from the woods of Montana??
A violation of The Constitution??? PFFFT! Get real! Nothin’ doin’!
It’s a Friday, and — yet again — I am happy there’s an eternal, flaming Hell, ‘cuz that means eternal Justice has a venue to mete out eternal consequences.
liberals hate paying taxes too..
they just want everyone else to pay more.
nope. most of the 600+ happen on ebt cards.
Right now a lot of people go to Walmart to use their under-the-table cash to buy gift cards.
For a farmer, checks more than $10,000 can be deposited several times a year. I’m sure that’s a hassle ... but $600? That’s a weekly paycheck for a lot of people. Huge amount of paperwork, risk of error and loss of privacy.
One should also ask...why they are suddenly concerned about it beyond taxes? Are they planning on doing something that will cause millions of people to take their cash...essentially ‘off grid?’
There is more behind this than what people are perceiving. The banks complaining about the burden of reporting is just window dressing for now. They really don’t have a concern when the real train heading down the tracks is the new digital currency.
Suddenly it makes sense to question people who even have $600 in cash or why they need to take out $600 in cash. People will avoid using cash and thus giving birth to the digital dollar.
This is to make it a hassle to use cash. This is part of the propaganda to get people ready to accept the digital dollar.
I am still waiting for the IRS to send me a copy of THE STATUTE that requires me to file a an income tax return for wages earned. It’s only been 20 years.
There is a standing reward of $300,000 to anyone who can prove this and two other propositions. (The amount has been increased over the years).
https://www.givemeliberty.org/features/taxes/usatoday.htm
Does this include the 10% fee to the big guy or is that off the books??
It’s a ‘service’ fee.........................
The timing of the transactions is tracked NOW!
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