Biden wants Americans to Report All Transactions Over $600 to IRS Under Fed Plan?
POSTED BY: JAYNEZTOWN
UPDATED: Friday, August 4, 2023 16:28
VIEWED: 3553
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So now they target 10 Grand inside the banks, does this still target the Poor, Small Business and Middle Class? A small family owned company might need material iron wood and other manufactured products, buying equipment or car online?
Write a book about your life at Firefly StarWars Marvel DC conventions before the Lockdown, hey you can hire an online team, an editor, designer, publicist, but that will costs 10 Grand
Tired of busting your ass working, want to holiday go on vaction, Ski Holidays Canada take wife and kids, get a Boat to travel near some place in Europe...well the IRS Fed Tax guys are going to see another 10,000 spent there.
You want to put a small shed in your backyard, adding installation costs....that's another 10 thousand spent.
Did you just buy 1 month of childcare, that's probably another 10 thousand.
As a builder to help you Create your own D.I.Y. home theater...that's going to cost you 10,000 on material.
Car accident and repair on your vehicle that's another 10 Thousand the IRS and Fed and Tax guy gets to see.
Once the Law gets in it can be dropped from Ten G down to 5 Grand
as the Law gets refined and altered it could even go as low as their original 600 number
https://www.dailymail.co.uk/news/article-10108375/Democrats-increase-I
RS-snooping-account-threshold-600-10-000-GOP-says-not-enough.html
Democrats increase the IRS 'snooping' account threshold from $600 to $10,000
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Quote:
Originally posted by JAYNEZTOWN:
So now they target 10 Grand inside the banks, does this still target the Poor, Small Business and Middle Class? A small family owned company might need material iron wood and other manufactured products, buying equipment or car online?
Write a book about your life at Firefly StarWars Marvel DC conventions before the Lockdown, hey you can hire an online team, an editor, designer, publicist, but that will costs 10 Grand
Tired of busting your ass working, want to holiday go on vaction, Ski Holidays Canada take wife and kids, get a Boat to travel near some place in Europe...well the IRS Fed Tax guys are going to see another 10,000 spent there.
You want to put a small shed in your backyard, adding installation costs....that's another 10 thousand spent.
Did you just buy 1 month of childcare, that's probably another 10 thousand.
As a builder to help you Create your own D.I.Y. home theater...that's going to cost you 10,000 on material.
Car accident and repair on your vehicle that's another 10 Thousand the IRS and Fed and Tax guy gets to see.
Once the Law gets in it can be dropped from Ten G down to 5 Grand
as the Law gets refined and altered it could even go as low as their original 600 number
https://www.dailymail.co.uk/news/article-10108375/Democrats-increase-I
RS-snooping-account-threshold-600-10-000-GOP-says-not-enough.html
Democrats increase the IRS 'snooping' account threshold from $600 to $10,000
Did you read the last few posts?
They were already monitoring any SINGLE transactions over $10,000.
This new law would allow them to monitor any bank account that has over $10,000 worth of transactions in an ENTIRE YEAR.
You don't need to be paying for child care or an expensive vacation to hit that.
Just have a mortgage or pay rent.
The only way you're getting out of that one is if your house is already paid for or if you work off the books and find a landlord who is willing to take cash only.
Otherwise, the bank account of every American will now be the business of the IRS.
And actually... I think you're going right on a list if somehow you DON'T show up on their new list. You're probably going to be scrutinized even harder than everybody who makes $10,000 in transactions per year since you're in a much smaller pool of people and it's pretty likely that a decent amount of them are able to manage working and living completely off the books.
LET'S GO BRANDON!
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Biden’s IRS Bank Spying Proves Everyone Will Pay, Not Just 'The Rich'
https://townhall.com/columnists/katiepavlich/2021/10/15/bidens-irs-ban
k-snoop-proves-everyone-will-pay-n2597522
Independent community bankers say Biden's IRS snooping plan assumes 'everyone is a tax cheat'
https://www.dailymail.co.uk/news/article-10089501/Independent-communit
y-bankers-say-Bidens-IRS-snooping-plan-assumes-tax-cheat.html
Quote:
Originally posted by 6IXSTRINGJACK:
Did you read the last few posts?
They were already monitoring any SINGLE transactions over $10,000.
This new law would allow them to monitor any bank account that has over $10,000 worth of transactions in an ENTIRE YEAR.
Strange how they now treat citizens as tax dodging terrorists
BTw did the FBI and CIA the Fed and the IRS and NSA figure out that Terrorists and Drug Dealers and Human Traffickers now Turn to other routes such as Bitcoin, Smuggkling or the Dark Web for Funding?
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It's legislation like this that just creates more criminals.
And because they never learn that lesson and continue to do it, one might think that this is actually their goal.
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More IRS Fed Spy Police Needed?
Blowback to Biden's banking hustle
https://www.stardem.com/opinion/editorials/blowback-to-bidens-banking-
hustle/article_1c0fa2be-433f-56f3-8865-cae4453105bb.html
Quote:
... No matter what a politician writes on his or her attire at an elite cultural ball — like U.S. Rep. Alexandria Ocasio-Cortez’s performative “Tax the Rich” gown at the Met Gala — the everyday people of Colorado and the country are waking up to how they are in the monetary crosshairs of big government.
We’re in a painful period of inflation compounded by a circulation shortage of the dollar. Amid this, it’s the most dutiful members of our working class — the ones who grind side-hustle jobs on top of 40-hour-a-week careers — who are the taxpayers the increasingly authoritarian federal government wants to squeeze the most.
It’s the cash-tipped servers, Venmo-financed weekend-warrior photographers and after-hours handymen who will pay for the bloated bureaucracy President Joe Biden himself says won’t cost you anything.
Case in point: Until Tuesday, Biden’s multitrillion-dollar “Build Back Better” spending proposal had included a proposal that would have compelled financial institutions to snitch on account holders. Banks and other popular new personal money platforms — like PayPal, Venmo and Cash App — would have had to report gross inflows and outflows to the IRS for accounts with $600 or more a year in transactions.
Six hundred dollars. Not $60,000. Not $6,000. Six hundred.
Late Tuesday, ABC News reported the White House had given us all a reprieve. The administration backed off of its proposal in the face of raging opposition and now is proposing to limit its money hunt to bank accounts that get more than $10,000 a year in non-W-2 income.
The fact that the administration was willing to go down this path at all is disturbing. And the outcry against the original proposal should be a wakeup call to the president about his general disregard for taxpayers on various policy initiatives.
Quote:
Even the Americans who are unfamiliar with the Constitution’s Fourth Amendment — the right of the people “to be secure in their persons, houses, papers and effects against unreasonable searches and seizure” — may now come to a sudden appreciation as to why it’s so important. They perceive the prospective spying Biden’s Internal Revenue Service would undertake to be what it is: a creepy, digitally voyeuristic financial fishnet. And the average guy or gal is but a minnow for the post-modern manifestation of the taxman under Biden and Treasury Secretary Janet Yellen.
maybe they want old cash gone
Quote:
Originally posted by 6IXSTRINGJACK:
It's legislation like this that just creates more criminals.
Perhaps they want the Dollar gone and for Corona lockdowns or Corona or something to launch cashless payment, a new social credit ID and new digi coin on your phone
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They'd love that.
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Quote:
Originally posted by SIGNYM:
Since when does the IRS have a warrant to justify this "search and seizure"?
Banks, financial firms ask White House to drop IRS reporting rule
https://nypost.com/2021/10/26/banks-financial-firms-ask-white-house-to
-drop-irs-reporting-rule/
Quote:
Originally posted by 6IXSTRINGJACK:
One more step to Communism and absolute Government Control of everything and everyone.
Manchin: I Convinced Biden That IRS Monitoring $600 Bank Transactions Is "Screwed Up" And Won't Be In The Final Bill
https://www.realclearpolitics.com/video/2021/10/26/manchin_i_convinced
_biden_that_irs_monitoring_600_bank_transactions_is_screwed_up_and_wont_be_in_the_final_bill.html
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Quote:
Originally posted by JAYNEZTOWN:Quote:
Originally posted by SIGNYM:
Since when does the IRS have a warrant to justify this "search and seizure"?
Banks, financial firms ask White House to drop IRS reporting ruleQuote:
Originally posted by 6IXSTRINGJACK:
One more step to Communism and absolute Government Control of everything and everyone.
Manchin: I Convinced Biden That IRS Monitoring $600 Bank Transactions Is "Screwed Up" And Won't Be In The Final Bill
Doesn't matter. If they're going to monitor every bank account that has more than $10,000 in annual transactions they're still going to be monitoring everyone's bank accounts regardless of the size of the individual transactions.
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Sen. Manchin reveals what he told Joe Biden about his 'messed up' IRS proposal
https://www.dailymail.co.uk/news/article-10133279/Sen-Manchin-reveals-
told-Joe-Biden-messed-IRS-proposal.html
‘This is screwed up’: Manchin says IRS ‘snooping’ won’t be in final Biden bill
https://nypost.com/2021/10/26/sen-manchin-says-irs-snooping-wont-be-in
-final-biden-bill/
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Quote:
Originally posted by JAYNEZTOWN:
Sen. Manchin reveals what he told Joe Biden about his 'messed up' IRS proposal
https://www.dailymail.co.uk/news/article-10133279/Sen-Manchin-reveals-
told-Joe-Biden-messed-IRS-proposal.html
‘This is screwed up’: Manchin says IRS ‘snooping’ won’t be in final Biden bill
https://nypost.com/2021/10/26/sen-manchin-says-irs-snooping-wont-be-in
-final-biden-bill/
Thanks for posting those. This is something actually different for once.
Manchin right now is a goddamned hero of the Democrat party and American People as a whole, even if the media is trying to destroy him.
It's also very comforting to hear how many people and organizations understand the implications of this part of the bill in either form, and how adamantly they oppose it.
Maybe I'll pull some of the quotes out later, but the Daily Mail piece in particular is full of great ones.
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