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What is this $600 transaction stuff?

FleshEater said:
But if you pull out cash and live off it, they can’t track anything. Only problem is that employers have mostly gone to mandatory direct deposit.
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*if they had time to, they will ask about cash transactions as they will now be able to see withdrawals. Anything $600+ will be suspect
 
subybaja said:
I'm 80% sure that you are completely historically correct.

And it's irrelevant.

We can't even get a legit Presidential election, the highest-profile office there is. You think we're going to get honesty about an obscure detail that will kneecap the officials we want to look at it? :lmao:
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We are soooo fucked
 
And where does one score a "key" for $600 us???:smokin:
fekkin fed OVER REACH!:flipoff:
 
FleshEater said:
So $400 from the ATM as many days in a row that it takes. Check.
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hightide said:
Can we still get away with cashing a personal check?
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Clb said:
And where does one score a "key" for $600 us???:smokin:
fekkin fed OVER REACH!:flipoff:
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Kyle said:
Just keep withdrawing and depositing the same 600 over and over. Tax the system.
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Fucking reading comprehension eludes you.

IT IS NOT A TRANSACTION $600 AND UP.

IT IS EVERY TRANSACTION ON ANY ACCOUNT WITH OVER $600 IN IT!

Holy cripes.
 
I thought I read that this is $600 per year, not $600 per occurrence.
Either way, it's a bunch of crap.
 
So, does this mean that if they're logging every transaction, they'll just send us a tax bill without any filing nonsense?
 
subybaja said:
So, does this mean that if they're logging every transaction, they'll just send us a tax bill without any filing nonsense?
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Never as simple as that. You will get kicked out onto a list and from there it will be the way California goes after inop/'dirty'/whatever vehicles. Plenty of red tape, plenty of fines and penalties, and good luck fighting the system (or the army of new IRS agents being hired).
 
Think $600 is bad...Biden administration is looking at getting rid of the 1031 exchange and the stepped up basis.

 
Definitely not about taxing the “rich” or making the “rich” pay their fair share, it is about class division and keeping regular people from becoming wealthy.
 
Busy news cycle today...

A new IRS proposal could affect your accounts and how your credit union operates.

As Congress considers new infrastructure spending, lawmakers are exploring unconventional sources of revenue to fund plans. One proposal under consideration effects Barksdale Federal Credit Union and our members — it would require that BFCU (along with other financial institutions and popular apps like Venmo and PayPal) report to the Internal Revenue Service (IRS) how much money has gone into and out of all accounts with more than $600 in them.

The proposal is designed to close the tax gap. The financial reports would allow the IRS to compare how much cash came through a person's accounts to how much was reported each year on income tax forms. That can include cash not reported by those who don't list all their tips, people doing gig work for cash, side jobs paid in cash, people who sell crafts or products from home.

We value our members privacy and the security of their data, and this possible unprecedented access to your finances violates your personal privacy by forcing credit unions and banks to provide the government with information that does not reflect taxable activity.

If You Don't Get a Similar Notification, You should Consider Changing Banks.

www.diogenesmiddlefinger.com www.diogenesmiddlefinger.com
 
My tinfoil hat theory is they're doing this to get a larger fraction of the economy in cash. Tons of employers will start paying people cash under the table who'll then pay cash for groceries and shit. The money will never hit the banks. And then they'll inflate the shit out of the currency so that the middle class is impoverished and forced onto the government teat making them easier to manipulate.
 
JohnnyJ said:
You know who works in all cash? Illegal immigrants, drug dealers. and people on welfare programs that work cash side jobs to keep the govt aid coming in.
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I'll be all cash if this shit keeps going but outside of unemployment I've never been on any type of .gov program.

Uncle Sam can keep his sticky fucking fingers out of my wallet and I'll pay for my online stuff with prepaid cards from Walmart.
 
DWT said:
I'll be all cash if this shit keeps going but outside of unemployment I've never been on any type of .gov program.

Uncle Sam can keep his sticky fucking fingers out of my wallet and I'll pay for my online stuff with prepaid cards from Walmart.
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great... now you gave them something else to ban.... :flipoff2:
 
FleshEater said:
So $400 from the ATM as many days in a row that it takes. Check.
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They'd call that structuring and freeze your assets till the end of time, meanwhile they get to keep anything confiscated regardless of how the court case plays out.
 
Dead Pool said:
This bill has a lot of nasty stuff in it. Pretty much the collapse of America as we know it.

jbs.org

Stop Radical Fake “Infrastructure” Bill: H.R. 5376

The "Build Back Better Act" (H.R. 5376) would codify the Paris climate agreement and the Great Reset.
jbs.org jbs.org
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Yes, by calling it 'infrastructure' the sheeple think its about roads and bridges. That ain't the infrastructure they're talking about (how many thousands of additional IRS agents does it fund?).
 
Sounds like a good reason to use banks as little as possible or not at all if you can swing it that way.
 
arse_sidewards said:
My tinfoil hat theory is they're doing this to get a larger fraction of the economy in cash. Tons of employers will start paying people cash under the table who'll then pay cash for groceries and shit. The money will never hit the banks. And then they'll inflate the shit out of the currency so that the middle class is impoverished and forced onto the government teat making them easier to manipulate.
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:confused: They're trying to railroad us away from cash as fast as possible, as far as I've seen.

Your theory would only work for them if they had a way to invalidate/inflate cash without affecting digital...

AND... "paying people cash under the table" without taxes? Yeah, no. Definitely not part of the agenda.
 
ironman_gq said:
They'd call that structuring and freeze your assets till the end of time, meanwhile they get to keep anything confiscated regardless of how the court case plays out.
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I’ll tell them I’m tired of checkbook transactions. :flipoff2:
 
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