Home Forums Hunting & Shooting Hunter's Campfire Biden wants the IRS to go after the kid mowing your yard

Obama’s 3rd Term. He and Traitorous China Joe both need to swing.

Yet they believe debt is irrelevant. This is all about control.

wrong
under various statutes a financial services employee is required to report any amount that the person feels is suspicious. the 10k thing is old news.

My wif has to be paid direct deposit.
Her bosses insist.
So every on the books bill we have, gets paid through a credit card,
chick is then paid from our account. Every traceable bill gets paid with
traceable money. We get rewards points from the card as a little kickback.

I cash a paycheck.
And that money, is kept mostly private.


The time will come that us having no debt for years will be a flag.
No debit cards, using cash will be a flag of subversive behavior.

You will be punished for good monetary behavior.

I want Biden and crew to stand up there on TV and tell us they are only going to tax the rich. Again.

If they go to this $600 BS, there's gonna be lots of folks going to 'cash only'...

I'll be one of them.

wow they need money...

Sad but true. Their day is coming. At some point Americans won't put up with it. Too many guns in this country for that.

This will happen; the R's won't or can't stop it & very soon, your money won't be your money any longer.

I think this is unquestionably unconstitutional, but laws mean nothing anymore.................it's what they say it is today.

MM

So you buy a truck with taxed cash money; drive it 10 years, sell it for $5000 and put it in the bank. And have to explain where the $5k came from?? Do you have to maintain an effin depreciation schedule.
What a Charlie Foxtrot this will be for the average guy; and the banks

The whole shittin match is LIGHT YEARS beyond the Fourth Amendment, and has been for many decades.

The $10K reporting requirement is for cash transactions. There is no reporting requirement for transactions other than cash, like checks, wire transfers, or credit cards, at least not simply because they're over $10K.

It's hard to comprehend how the IRS intends to keep an account of every transaction over $600, or even $10,000. Cash transactions -- they're much less common because that's a lot of cash since the largest bill we have now is $100. Even ten grand is a pretty tall brick, but cash transactions for something like a car or house would fill a shoulder bag or a suitcase. Indivudual transactions of that size in cash are understandably suspected of potential criminal connections (besides just tax evasion) and that is the justification for the reporting requirement. Small-time deals evade it by "structuring" (breaking it into smaller amounts), but someone like Pablo Escobar would have a hard time structuring or hiding transactions involving pallets of cash.

The bottom line is, the tighter they turn the screws on one form of currency, whether it's cash, bank transfers, or whatever, the more they will turn the "flows" to other currencies and markets. We can look at the example of India. They've cracked down on tax evasion in a number of ways in recent years, and it just shuffles the flows to other channels. It won't stop the IRS from spending more to try to get ahead though. They'll claim the expenditures for their efforts "pay for themselves" because of the increased revenues, but they don't account for the total economic impact of wasting billions of dollars to force other people to hand over tens of billions of dollars to be wasted. They just consider collecting the tens of billions of dollars to be a windfall that will somehow magically benefit the economy and the make the nation prosper because now it's in government hands.