Article

2021-10-14 Government Corruption

$600 IRS reporting requirement for banks is “absolutely not” a way for the government to peek into American’s pocketbooks but to hold billionaires accountable

[PUBLISH.TWITTER]

“There’s a lot of tax fraud and cheating that’s going on.” Treasury @SecYellen tells @NorahODonnell the proposed $600 IRS reporting requirement for banks is “absolutely not” a way for the government to peek into American’s pocketbooks but to hold billionaires accountable. pic.twitter.com/M3VKOhdtSu
— CBS Evening News (@CBSEveningNews) October 12, 2021

Couldn't use her lips for the rest of the day after uttering that bit of logic. One billion divided by 600 = 1,666,666.66666 transactions

Posted by Fred 2021-10-14 00:00|| || Front Page|| [11135 views ] Top

#1 fuck this whore

Posted by Chris 2021-10-14 00:34|| 2021-10-14 00:34|| Front Page Top

#2 Every word Ol' Yellen utters is a lie, including 'the' and 'a.'

Posted by Patriot 2021-10-14 01:03|| 2021-10-14 01:03|| Front Page Top

#3 Goes along with their other statements.

War is peace.
Slavery is Freedom
Etc.

Posted by DarthVader 2021-10-14 08:54|| 2021-10-14 08:54|| Front Page Top

#4 What? Are they tracking their Armani or Prada shoe purchases?

Posted by magpie 2021-10-14 10:21|| 2021-10-14 10:21|| Front Page Top

#5 “There’s a lot of tax fraud and cheating that’s going on.”

All made legal by Congresscritters for campaign contributions for loopholes for billionaires.

Three tier rates and only deduction for children, future taxpayers. Then you'll hear the screams.

Posted by Procopius2k 2021-10-14 10:36|| 2021-10-14 10:36|| Front Page Top

#6 It is all about controlling the off-the-books economy, an economy primarily of the lower middle class.

Posted by Glenmore 2021-10-14 11:00|| 2021-10-14 11:00|| Front Page Top

#7 Go F yourself, you disgusting old witch. Keep your nose out of our bank accounts. Do you want to start another civil war?

Posted by Patriot 2021-10-14 11:02|| 2021-10-14 11:02|| Front Page Top

#8 One more thing the GOPe will campaign on getting rid of and then not even try to undo.

Posted by M. Murcek 2021-10-14 11:04|| 2021-10-14 11:04|| Front Page Top

#9 Do you want to start another civil war?

Why yes actually, that is exactly what they want.

Posted by Omusock Elminter8794 2021-10-14 12:02|| 2021-10-14 12:02|| Front Page Top

#10 Hey Yellen, while you’re at it, turn up the gaslight a bit more

Posted by Greater the Anonymous5721 2021-10-14 12:24|| 2021-10-14 12:24|| Front Page Top

#11 remember the Great Coin Shortage of 2020™? When debit/credit cards were requested (or exact change). Totally not useful to track spending....right

Posted by Frank G 2021-10-14 12:42|| 2021-10-14 12:42|| Front Page Top

#12 I think we should setup a script to continually transfer $600.01 between two accounts... Back and forth...

Posted by CrazyFool 2021-10-14 12:58|| 2021-10-14 12:58|| Front Page Top

#13 Great idea CrazyFool.

Its this amount so you can't withdraw your money.

Imagine, if you will, an "Unexpected Financial Emergency" requiring a "One Time" 10% auto-deduction of all banking accounts, set for Date X. Now you can't go put it into bills without being flagged.

Think Frank G is on the path here; one giant shove towards all electronic currency. Black Markets don't generate tax for The Revenuers. Bonus points for preventing Black Markets which promote Ungovernables.

Posted by swksvolFF 2021-10-14 13:21|| 2021-10-14 13:21|| Front Page Top

#14 #FJY

Posted by Patriot 2021-10-14 13:45|| 2021-10-14 13:45|| Front Page Top

#15 Why do I get the feeling that Congress, their staff, the FBI/NSA/CIA/etc... and Unions will be exempt from this 'oversight'?

Posted by CrazyFool 2021-10-14 13:58|| 2021-10-14 13:58|| Front Page Top

#16 It's all about fooling people into hoarding cash so all the new imports from south of the border can steal it.

Posted by M. Murcek 2021-10-14 14:00|| 2021-10-14 14:00|| Front Page Top

#17 There will be a 50% surcharge on matresses

Posted by Deacon Blues 2021-10-14 15:55|| 2021-10-14 15:55|| Front Page Top

#18 If these dipshits come up with this bullshit, I will withdraw $599.99 everyday. Gold and silver coins become more attractive. Will this $600 limit apply to cyber currency like Bitcoin? Barter will also become more attractive. Such a dictate will stimulate a lively underground economy.

Posted by JohnQC 2021-10-14 16:01|| 2021-10-14 16:01|| Front Page Top

#19 It's all about fooling people into hoarding cash so all the new imports from south of the border can steal it.

Not quite. Cash or even bank equivalent cash devalues with inflation, making it a 'cash cow' for government. Right about 'fooling' but wrong about why.

Posted by Glenmore 2021-10-14 16:38|| 2021-10-14 16:38|| Front Page Top

#20 I will withdraw $599.99 everyday.

As I understand it, the rule is not about the size of the transaction but about the size of the account - ALL transactions in accounts of greater than $600 will be subject to scrutiny.

Posted by Glenmore 2021-10-14 16:40|| 2021-10-14 16:40|| Front Page Top

#21 Glenmore, Does scrutiny mean stealing?

Posted by JohnQC 2021-10-14 17:00|| 2021-10-14 17:00|| Front Page Top

#22 the Dems are already planning to hike the minimum balance figure to 10k

still too low, the FDIC limit is $250k so any billionaire seeking to park tainted revenue will probably use accounts averaging $100k to 200k.

Posted by lord garth 2021-10-14 19:32|| 2021-10-14 19:32|| Front Page Top

00:22 EMS Artifact
00:16 Skidmark