re: Congress wants Banks & Credit Unions to monitor all our personal deposits over $600

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As Congress considers new infrastructure spending, lawmakers are considering unconventional sources of revenue to fund their plans.

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Why is this rolled under the infrastructure bill? What the hell does it have to do with infrastructure?

Also, if they think this will raise revenue, does it mean that people routinely depositing and receiving less than $600 per time aren’t paying their fair share?

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BitCoin isn't the same as a CBDC. It currently can't be traced or inventoried. Cash would also be acceptable.

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if you buy BTC on an exchange that records your personal identifying information, you can absolutely see where that coin was transacted to via looking at the Bitcoin blockchain and therefore it's known if you send it somewhere.

However, if you send it to cold storage and lose that cold storage in a boating accident, hypothetically, then I suppose you have some argument for deniability if that coin is ever sent anywhere.

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The proposal is not to monitor individual transactions but just the yearly gross inflow and outflow.

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You really are retarded

Just wait til they start popping everyone for 500 dollar deposits over multiple installments to avoid reporting.

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small business owners not reporting all of their income. That is a big problem,

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Is that really a big problem in the grand scheme of things?

This is intrusion and you are cheering it on

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Does the IRS even have the manpower and infrastructure in place to handle the massive amount of new information they'll be receiving if this passes? It sounds like a nightmare for everyone involved.

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Not even close.

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Is that really a big problem in the grand scheme of things?

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It's estimated that it annually impacts tax coffers in the billions, so I guess it depends on what you consider to be a big problem. Dave in my example is only hiding a couple grand from the IRS, but expand that to the entire country of Dave's and that couple grand grows pretty quickly.

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It's just the Sudetenland, Mr. Chamberlain

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The Pool in Gallagool


There is a pool,
In Gallagool,
A far off distant land,
And you know that place is,
A verdant oasis,
A respite from scorching hot sands,

In the Gallagool pool,
Well the water is cool,
Like the desert around it is not,
Then a traveler marched,
With a throat that was parched,
He was sunburned and broiled and HOT!

Yes his gleeful surprise,
Could be seen in his eyes,
He prepared to dive in with a hop,
When he heard a strange noise,
A shrill shrieking, a voice,
Hurting his ears as it hollered “STOP!”

“You see we are the leeches,
That live near these beaches,
Though we’re small we’re the boss of big fish,
So if you want a dip,
Even one tiny sip,
You will have to give us what we wish.”

“Now don’t act like we’re cruel,
Because we rule the pool,
We don’t ask for much,
Don’t blow your top,
You’ve got much blood inside,
And there’s no one that’s died,
Just from giving us one little drop.”

One drop
Then we’ll stop

So he thought, just one drop,
Then their thirst will be slaked,
Then I’ll swim in sweet waters,
As the sand the sun bakes,
So he took out his knife,
And poked his fingertip,
Then the drop,
Drip drop drip,
And the leech took a sip,
And he grinned.

As he welcomed his next victim in,


With a Hop And a splash it was Into the pool,
Where the water was cool,
There in hot Gallagool,
But just as the traveler tried to relax,
That leech, now with others,
They came swimming back,
It said “oh that drop! It was mighty delicious,
But seeing you swim here like so many fishes,
We’re afraid you can’t stay, yes you simply must go,
Unless, for the rest, you’ll give
One
Little
Toe.”

“Well of fingers and toes, well we see you’ve got plenty,
We’ve counted them up, and you’ve got yourself twenty,
And of Gallagool pools, well you’ll find there aren’t any,
So pay,
It’s a toe, or good day!”

Yes alas, they were right,
An unfortunate plight,
For The traveler wished to stay cool,
So with one toe in tow,
Thus the leeches did go,
For today, leaving one nine-toed fool,

As the belching sun burned,
The next day they returned,
And one toe became two became four,
But with each proffered digit,
More leeches came with it,
And each time there were more more more MORE!

You know that’s how it goes,
‘Til you run out of toes,
Then then thumbs and the fingers go next,
Then the hand to the wrist,
Then the legs to the hips,
Until he was gone up to the neck,

Just a head, there it bobbed,
With the rest of him robbed,
While the leeches lolled lazy and fat,
Then from lands far beyond,
To the edge of the pond,
A young wanderer walked up and sat,

Then he called out “Ahoy!”
And the head, to the boy,
Replied “tally Ho lad, how’s the hike?”
“It’s quite nice in the pool,
Where the water is cool,
You can join me if that’s what you’d like.”

“Just a drop for the leeches,
Who lay claim to these beaches,
And then you can be happy like me!”
But the boy turned his head,
To the leeches well fed,
And it didn’t make sense, no siree.

Paying leeches no mind,
He jumped in and reclined,
In the waters divine there he splashed,
Then the fat leeches burped,
Smells of toes they had slurped,
And hunger and greed their eyes flashed,

They said “Listen here fella,
You’ll do what we tell ya,
If you want to remain in our pool,
Give us one little drop,
Then we promise, we’ll stop,
It’s our waters, and we make the rules.”

His reply caused the pond to stop still,
For he said, “No, I don’t think I will.”

First the leeches were speechless,
For on Gallagool beaches,
They were quite unaccustomed to “No.”
Altogether confused,
Their demands now refused,
And they clamored
“See here, we said so!”

But the boy round the bobbing head splashed,
As the leeches they furiously gnashed!

They said “listen up sonny,
You must think you’re funny,
But you’d better give us what we wanted,”
The head said “just give in,
And they’ll leave you to swim”
But the boy paddled on quite undaunted,

And he whispered to Gallagool fishes,
“I hear leeches grown fat, are delicious.”

Now the leeches were screeching,
Outraged that their leeching,
Demands weren’t at once acquiesced,
Who was this upjumped kid,
To refuse as he did,
And to Gallagool leeches no less,

Even louder they clamored,
But the boy, unenamored,
Just ignored them, then they cried “Tut tut!”
“Now we won’t be told no!
We’re the leeches you know!,
So give us what we want!”

And the boy said “or what?”

“Or what!?” Leeches blathered,
As around fishes gathered,
As they stammered and yammered,
Perplexed,
Big fat leeches, dumbstruck,
Outnumbered, outta luck,
Care to guess at just what happened next?

In that Gallagool pool,
Bobs the head of a fool,
As fat fishes, and folks Swim in peace,
Not a leech to be found,
If you just stand your ground,
Leeches don’t have a chance in the least.

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And many people through the years have gotten around taxes with crypto

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Oh for sure. Plenty of those people will have the irs on their asses in the future though. Joe blow down the street with a few grand in crypto is not who im talking about. People in the 6 figure and above range should just be paying taxes and doing it the right way.

Monero I dont think will ever be a thing for someone that is heavily invested in crytpo