- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Biden wants to see ALL of your financial transactions
Posted on 9/2/21 at 10:45 am to rumproast
Posted on 9/2/21 at 10:45 am to rumproast
quote:
Welp....looks like we will have to do all our transactions in $500 increments. If you need to withdraw $1000, then you will have to do two withdraws of $500 each. This really is ridiculous.
Nope. You misunderstood. Current day IRS scrutiny is based on $10K or above txns.
This proposal is to enforce banks providing ALL transactions of any amount to the IRS for any accounts with a total balance of $600 or more.
You'd have to have multiple accounts less than $600 each and never exceed $600 in an account to avoid scrutiny.
1
Posted on 9/2/21 at 10:46 am to Kjnstkmn
Does he think the IRS has the IT infrastructure to handle all of this data? 
Posted on 9/2/21 at 10:48 am to Kjnstkmn
I will show Joe all my transactions after he shows us all of his and Hunter's transactions.
Posted on 9/2/21 at 10:48 am to Kjnstkmn
Let’s see all of Hunter and Joe’s transactions over $600 published in the New York post first.
Posted on 9/2/21 at 10:48 am to Kjnstkmn
:BugsBunnyNo:
Posted on 9/2/21 at 10:49 am to Zach
quote:
Is the motive to stop small business people who deal in cash to avoid income tax?
600 is also the threshold for someone having to fill out a 1099. NOT a coincidence.
This is simply making banks do free audits for the IRS.
Posted on 9/2/21 at 10:51 am to Kjnstkmn
quote:
This proposal is to enforce banks providing ALL transactions of any amount to the IRS for any accounts with a total balance of $600 or more
This is how I read it. It sounds like if you have more than 600 dollars in the bank they want to see every transaction you make which is asinine. I would like to see the lefties come defend this bullshite
Posted on 9/2/21 at 11:14 am to dgnx6
quote:
So are they going to flag me for pulling out cash and them not being able to track where i spent that money?
After they finish wrecking the Dollar and go digital you won't be able to do that either.
Short term, this is a political weapon. Long term, it's the enforcement mechanism for a social credit scoring system.
They'll be able to stop/prohibit transactions based on how well you behave. Hurt some feelings on social media or share some "misinformation" and maybe you can't buy tickets for ball games or concerts anymore. It'll get worse from there.
It's how China does it.. it'll be all the rage, all the cool countries will do it.
Boris was promoting a "Chinese like" social credit scoring system in the UK last month. Here they will sneak it in through the financial system first. Mad Max proposed changes to financial credit scores to make that system more "equitable".. it leads to crap like this.
Posted on 9/2/21 at 11:22 am to Kjnstkmn
Privacy crypto coins bout to EAT
Posted on 9/2/21 at 11:24 am to Kjnstkmn
Banks will give in. Otherwise, they'll be the target of countless FBI investigations, and nsa spy campaigns. Even if the CEOs are godly rich, they are nothing but ants when compared to the weight of corrupt government agencies.
Posted on 9/2/21 at 11:26 am to Kjnstkmn
How in the actual frick does this not violate the 4th Amendment to have a mandated Government / Law enforcement search of MY BANK RECORDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I WANT OFF THIS GODDAMN STUPID PLANET.
I WANT OFF THIS GODDAMN STUPID PLANET.
Posted on 9/2/21 at 11:26 am to Kjnstkmn
Biden wants more of your money.....rich, poor, conservative, liberal....the cash is the same color!
Spend N Tax.....full steam ahead!
Spend N Tax.....full steam ahead!
Posted on 9/2/21 at 11:27 am to Kjnstkmn
Biden wants more of your money.....rich, poor, conservative, liberal....the cash is the same color!
Spend N Tax.....full steam ahead!
Spend N Tax.....full steam ahead!
Posted on 9/2/21 at 11:27 am to Von
quote:
Long term, it's the enforcement mechanism for a social credit scoring system.
This is breatakingly terrifying.
Posted on 9/2/21 at 11:27 am to MSTiger33
quote:
Does he think the IRS has the IT infrastructure to handle all of this data?
Contractors? Amazon or Alphabet would love that gig.
I saw it mentioned in a story about something else, but they were talking about giving the IRS 80+ billion to hire more people.
I don't know how many people they could hire for 80 billion dollars.. but maybe some of those people have data centers.
Posted on 9/2/21 at 11:30 am to Kjnstkmn
quote:
Biden wants to see ALL of your financial transactions
We are reaching 1770s level tyranny and Senile Biden is playing the role of King George.
ETA: I take that back… we’re way past anything the Brits ever dreamed of imposing on the American Colonies.
This post was edited on 9/2/21 at 11:31 am
Posted on 9/2/21 at 11:30 am to Kjnstkmn
And after midterms, they’ll raise taxes.
Posted on 9/2/21 at 11:35 am to Kjnstkmn
What about if I sell some paintings do I need to disclose the info of those transactions?
Posted on 9/2/21 at 11:35 am to NytroBud
quote:
.308 or .30-06?
Preferably .338 Lapua
Posted on 9/2/21 at 11:40 am to UTMaverick
quote:
A back door to gun control and other political issues
Bingo! Oh look they bought bulk ammo for a 1000 dollars put them on a watch list.
Page 2 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News