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Parts of the huge spending thing that congress is punting around is 82million for several thousand more agents and the ors would track all purchases over 600. dollars. i had to dig deep into the news sites and congress to find those actual words, which i have not yet. but congressman scalise stated this on maria this morning.
so why 600 dollars? this got me to thinking. if i buy an item that is 800. i could go in pay 500, get a reciept then turn and then leave store and come right back with 300 and finalize the purchase...would this be a way of avoiding the 600 tell on me law?



second part of the crazy bill/s are tax incentives for electric vehicles if they are made in a UNION shop. seems like gov gets to choose winners again like obama did with gm and chrylser a few years back.

then a TAX (roaduse) on electrics ( all modes) of nearly 800 a year, and local and state govs and can add more since these vehicles dont pay fed excise taxes on fuel, they called it a mileage tax. we had this mileage tax tossed around alot a few years ago.

lots to unpack this week as nancy is off the italy on our dine to meet with the pope, which also brings up issues with me. I am catholic and the pope is not my pope. he is horrible

There is a thought that the 600 dollar tracking is related to future capital controls like what happened in Greece before their financial troubles and "austerity". Its not just going after the poor and middle class instead of Soros, Bezos, and Other Famous Billionaires who are avoiding Paying Taxes, which would be bad enough.

Tax the rich? The Democrats wouldn't want to tax the rich who are funding them.

Paladin wrote: ↑Tue Oct 05, 2021 10:18 am There is a thought that the 600 dollar tracking is related to future capital controls like what happened in Greece before their financial troubles and "austerity". Its not just going after the poor and middle class instead of Soros, Bezos, and Other Famous Billionaires who are avoiding Paying Taxes, which would be bad enough.

Tax the rich? The Democrats wouldn't want to tax the rich who are funding them.

on varney this morning a congressman stated the if you had 600 in your bank account, that the irs would track you
but of course congress is exempt right???
i could see going back to the depression era and pulling all money out of banks and going cash only again.

last year when mother in law passed, we had a LARGE amount of cash she had hoarded and went to deposit it. edits to reflect mother in law died and we paid her bills

last year when mother in law passed, we had a LARGE amount of cash she had hoarded and went to deposit it. my teller told me to deposit 7k, then walk out then come back in and deposit 7k, then come back the next week and do the same so treasury would not be curious as how we had all this cash all the sudden . took weeks to get it done so we could get all the heirs paid off

This strategy is called "structuring" and is illegal. See https://en.wikipedia.org/wiki/Structuring. Just depositing the money might have been a pain in the ass, and the bank would have had to do a slug of paperwork, but it would not have been a crime. Here's hoping the IRS didn't notice the activity...you may get a whole lot more attention than just depositing it would have caused...

RSX11 wrote: ↑Tue Oct 05, 2021 4:20 pm

last year when mother in law passed, we had a LARGE amount of cash she had hoarded and went to deposit it. my teller told me to deposit 7k, then walk out then come back in and deposit 7k, then come back the next week and do the same so treasury would not be curious as how we had all this cash all the sudden . took weeks to get it done so we could get all the heirs paid off

This strategy is called "structuring" and is illegal. See https://en.wikipedia.org/wiki/Structuring. Just depositing the money might have been a pain in the ass, and the bank would have had to do a slug of paperwork, but it would not have been a crime. Here's hoping the IRS didn't notice the activity...you may get a whole lot more attention than just depositing it would have caused...

yep i know its structuring, now. but i am not a criminal and therefore IMO did see importance of an all at once deposit and then having irs show up and ask for taxes on money. from a dead womans account
we already had tons of forms to file from her death and it became very irritating really fast. especially when she died after the social security cut off date and they still took back 2 months of pay she had received. let irs come after her...she is at the bottom of the atlantic ocean now
social security did finally re instate her one check, but refused to replace the one in the month she passed. so here grandkids were short on inheritance

edited

powerboatr wrote: ↑Tue Oct 05, 2021 4:53 pm

RSX11 wrote: ↑Tue Oct 05, 2021 4:20 pm

last year when mother in law passed, we had a LARGE amount of cash she had hoarded and went to deposit it. my teller told me to deposit 7k, then walk out then come back in and deposit 7k, then come back the next week and do the same so treasury would not be curious as how we had all this cash all the sudden . took weeks to get it done so we could get all the heirs paid off

This strategy is called "structuring" and is illegal. See https://en.wikipedia.org/wiki/Structuring. Just depositing the money might have been a pain in the ass, and the bank would have had to do a slug of paperwork, but it would not have been a crime. Here's hoping the IRS didn't notice the activity...you may get a whole lot more attention than just depositing it would have caused...

yep i know its structuring, now. but i am not a criminal and therefore IMO did see importance of an all at once deposit and then having irs show up and ask for taxes on money. from a dead womans account
we already had tons of forms to file from her death and it became very irritating really fast. especially when she died after the social security cut off date and they still took back 2 months of pay she had received. let irs come after her...she is at the bottom of the atlantic ocean now
social security did finally re instate her one check, but refused to replace the one in the month she passed. so here grandkids were short on inheritance

edited

I have known people who did that when withdrawing large sums of cash. The effort was not to avoid the IRS, it was to avoid ending up on some jack booted government terrorist watch list.

If someone had told me in 1977 that we would be living in this Orwellian dystopia, I would have accused them of being on drugs. But yet, here we are, and all any of us do about it is cry on our gun forum. Elections are no longer going to make any difference. The elitist power structure has used electronic vote counting to completely control the end results. I read somewhere the other day that around 50 plus percent of Americans are perfectly fine with giving up their rights to feel that false sense of security. We are in trouble my friends. Count on it.

yup
i didnt know it was an issue until i saw the post about it. i figured it was her money and the irs didnt need to know how much she hoarded for her great and grandkids

at least they all got a nice present .

They are going to get bogged down in looking over auto, rent and mortgage payments.... imagine an actual rich person- $600 is a nice dinner out or just a bottle of wine and 1 of what-10, 20, 50 ?? bills a month. What a losing proposition. I know some people cheat taxes but I don't think tracking $600+ bank transactions will fix much. Most of the time you write a check (yes I still use paper checks) you are buying a good or service that's already being taxed.

flechero wrote: ↑Wed Oct 06, 2021 9:05 pm They are going to get bogged down in looking over auto, rent and mortgage payments.... imagine an actual rich person- $600 is a nice dinner out or just a bottle of wine and 1 of what-10, 20, 50 ?? bills a month. What a losing proposition. I know some people cheat taxes but I don't think tracking $600+ bank transactions will fix much. Most of the time you write a check (yes I still use paper checks) you are buying a good or service that's already being taxed.

They are like broke people looking for change in the couch cushions to buy milk. Combine that with hiring 86,000 new IRS agents. To claim their spending spree is paid for is a lie and they know it. They will be desperate to collect every dime they can get.

flechero wrote: ↑Wed Oct 06, 2021 9:05 pm They are going to get bogged down in looking over auto, rent and mortgage payments.... imagine an actual rich person- $600 is a nice dinner out or just a bottle of wine and 1 of what-10, 20, 50 ?? bills a month. What a losing proposition. I know some people cheat taxes but I don't think tracking $600+ bank transactions will fix much. Most of the time you write a check (yes I still use paper checks) you are buying a good or service that's already being taxed.

I don't think this has anything to do with finding tax evaders. It is control, pure and simple. One problem is people are misreading the $600 figure. I saw a few reports that say it is not individual transactions that are over $600, but if there is that much activity on the account in a year. The current law says a bank must report individual transactions over $10,000 or all transactions in an account that total that much in one day. The change is going to make it transactions over $600 or that total that much in a year.

This much data can easily be cross-matched to show every person's connections to any other person. This network analysis allows them to control everyone and anyone they decide to.

srothstein wrote: ↑Wed Oct 06, 2021 10:14 pm

flechero wrote: ↑Wed Oct 06, 2021 9:05 pm They are going to get bogged down in looking over auto, rent and mortgage payments.... imagine an actual rich person- $600 is a nice dinner out or just a bottle of wine and 1 of what-10, 20, 50 ?? bills a month. What a losing proposition. I know some people cheat taxes but I don't think tracking $600+ bank transactions will fix much. Most of the time you write a check (yes I still use paper checks) you are buying a good or service that's already being taxed.

I don't think this has anything to do with finding tax evaders. It is control, pure and simple. One problem is people are misreading the $600 figure. I saw a few reports that say it is not individual transactions that are over $600, but if there is that much activity on the account in a year. The current law says a bank must report individual transactions over $10,000 or all transactions in an account that total that much in one day. The change is going to make it transactions over $600 or that total that much in a year.

This much data can easily be cross-matched to show every person's connections to any other person. This network analysis allows them to control everyone and anyone they decide to.

We first started losing the war when we allowed the government to spy on us all after the World Trade center attack. Under the NSA the die has been set. We were all so worried about terrorism we allowed the government to intrude on our lives in a way that would have previously caused us all to bristle. We now have the government using agencies like the FBI to allow parents protesting school boards to be labeled domestic terrorists. It may be too late to pull it all back in now. The government will continue to grow it's power and control over the people until we either all become Orwellian "good citizens" or we finally revolt.