Treasury Department Seeks to Track Financial Transactions of Personal Bank Accounts Over $600

[misteraven]

While we’re off focusing on the irony of AOC’s Met Gala dress, Biden is out here making power moves with unprecedented government over reach and even more overt violations of American’s Constitutional Rights…

Wondering if there’s any Biden voters left that aren’t experiencing buyers remorse…

 

Treasury Department Seeks to Track Financial Transactions of Personal Bank Accounts Over $600

 

https://fee.org/articles/treasury-department-seeks-to-track-financial-transactions-of-personal-bank-accounts-over-600/

 

Proposal: https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf

 

Aaaaaand a Quick link to the Crypto thread for those up front paying attention: https://forum.12ozprophet.com/topic/86476-cryptocurrency/

 

[mr.yuck]

I’d like to see some one create a computer program that would transfer funds right over $600 back and forth between two personal accounts 1000s of times a day times millions of people until the banks melt or the Treasury Dept melts.

 

Fuck this democratic-fascism.

[Mercer]

Fascism is defined as a merger of Government, and corporations.

 

Doing business with a bank will soon be the exact same thing as doing business, and sharing your personal information with the IRS.

 

This is going to fuck the US's already tanking economy much faster, and further than it's already is. People will soon be laid off, or have to quit  their under the table gigs, and some will become tax burdens (at no fault of their own) because of this. A huge chunk of our (any) economy is "Under the table", and can't be converted to "above the table" because the cost of that would outweigh the chances for profitability. Seeing lots of people in the crypto space that would otherwise be spending their money here, just leaving this soon to be 2nd world country for good. South/Central America seems to be the spot.

 

Sad shit. I grew up watching poverty in East Germany, from West Germany as a kid, surrounded by military people. The American bases there would often times be the first stop for refugees fleeing Communism. I would have never guessed as an adult, our own government would turn economically retarded like the commies. Moving towards more authoritarianism.

[Kults]

11 hours ago, Mercer said:

leaving this soon to be 2nd world country for good. South/Central America seems to be the spot.

 

 

.. wut? 

[Mercer]

I'm not sure what you're missing @Kults. The empire here is starting to crack, visibly, and obviously. People with the resources, and awareness to do so are leaving this country to protect their resources, many are setting up communities in other countries. There' starting to spring up in the Caribbean, the Pacific Islands, and most notably in South & Central America.

 

When Rome was collapsing the same thing happened. Romans (that were smart enough) that were well off enough bought large parcels of land in Europe, and left Rome. These large parcels, that were once guarded, and conquered by legions of Roman troops during Rome's peak, were eventually left to defend themselves when the system collapsed under it's own weight. These property owners eventually became Europe's aristocracy. Dukes, Barrons, Counts, etc. Left to defend themselves, they formed their own militaries, and alliances during the the "dark ages"

 

The United States Government isn't designed to shrink, or spend less when the economy shrinks like it is now. In fact, it increases it's spending even more. The short term demand for resources becomes crucial, in fact, so crucial that the government starts shooting themselves in the foot. Businesses, and citizens that would otherwise provide a stable source of tax revenue long term, are seized, even shut down to meet the desperate immediate demands of the government (High Time Preference). This makes long term economic stability impossible. Any financial success makes individuals, and businesses targets for confiscation. 

[Kults]

I don’t know about any of that but you think quality of life is better in SA than the US? 

 

[Mercer]

10 minutes ago, Kults said:

I don’t know about any of that but you think quality of life is better in SA than the US? 

 

 

This might be hard to wrap your mind around, but being a free millionaire (almost anywhere) equals a much higher quality of life.

[Kults]

Just now, Mercer said:

 

 

This might be hard to wrap your mind around, but being a free millionaire (almost anywhere) equals a much higher quality of life.

 

Disagree. Not if you live in the slums

 

I doubt you’re rich enough to use a helicopter to travel daily 

[Mercer]

Millionaires usually don't move into slums @Kults. Got any more broke nigga questions before I stop explaining the basics to someone trying to derail the discussion?

[Kults]

Alright champ

 

You stated you wanted to move to SA because the US is a 2end world country..

 

lol.

[Mercer]

Where did I say that?

[Kults]

12 hours ago, Mercer said:

 just leaving this soon to be 2nd world country for good. South/Central America seems to be the spot.

 

Im gonna end it there.

[Mercer]

2 minutes ago, Kults said:

 

Im gonna end it there.

 

 

Sounds like a good idea to me.

 

 

9 minutes ago, Kults said:

You stated you wanted to move to SA

 

Nope

 

12 hours ago, Mercer said:

Seeing lots of people in the crypto space that would otherwise be spending their money here, just leaving

 

 

 

and...

 

9 minutes ago, Kults said:

because the US is a 2end world country..

 

Another nope.

 

12 hours ago, Mercer said:

this soon to be 2nd world country

 

 

 

You're intentionally misinterpreting to derail the discussion. Then arguing against your own misinterpretations (straw man). Look at all these wasted posts, asking retard questions and making retard statements. Millionaires moving into slums, then forced to use a helicopters? I mean I'm pretty sure you're well below average, but you can't be this fucking dumb.

[Kults]

👍🏻

[ndv]

2 hours ago, Mercer said:

These property owners eventually became Europe's aristocracy. Dukes, Barrons, Counts, etc. Left to defend themselves, they formed their own militaries, and alliances during the the "dark ages"

 

Monaco is the very definition still to this day.  Although, some could argue the Vatican is as well, but I agree to disagree as I consider the Vatican is the Mecca of Pedophilia.  

 

But yeah. Monaco. 

 

 

[abrasivesaint]

Why $600? 
 

edit: cant help but find it an odd number given that the stimulus checks were a minimum of $600. Could just be a magic number, the fuck do i know, just thought that was odd at face value. 

Edited September 24, 2021 by abrasivesaint

[mr.yuck]

I think 600 is the threshold before you are required to pay taxes on money. At least that’s how it works with lottery tickets.

[Mercer]

Correct, the $600 limit was chosen because transactions over $600 to private citizens are required to be reported already. Any business paying an individual less than $600 annually can still write that off as an expense, and if audited only needs to show the transaction. Anything over that is technically required to be reported either through payroll taxes, or through a 1099 before the business owner can claim it as an expense.

 

Make no mistake, this measure is 100% aimed squeezing out the poor, and lower middle class from performing any under the table work, or things selling say a used car, etc. without the government getting their "fair share". Pulling this type of move against the rich will get your next campaign defunded, but the poor, and middle class are (in general) too stupid to understand what this means until it's too late, and they get a letter from the IRS. Good luck to waiters, waitresses, or anyone else that needs to deposit cash to pay their bills.

 

[mr.yuck]

Another fun game would be for everyone in America that deposits cash to file a fraud case against their account saying they don’t know where any of this money came from or who’s been spending it.

[Mercer]

I've found that not using/avoiding the banking system altogether is difficult, but the best solution. We're entering into a phase of unprecedented fascism, and it's not what you think.  Fascism literally has nothing to do with racism. Racism exists in every governance system that desires it including (especially) in constitutional democracy. Fascism, by definition is where large corporations (banks) and the state conspire to form a symbiosis, it's designed to crush the individual, and any dissent from authority.

 

Why they're doing this now, during "peace times" is beyond me since normally this level of authoritarianism prevails during a major world war, or wartime buildup where all resources go towards the military. My guess is the intellectual weakness of the government educated population. I mean they're probably thinking fuck it, why not, with a population too retarded to understand just how problematic totalitarian systems of corporate/government symbiosis is, and was during the early half of the 20th century (Nazism/Fascism/Communism) in Europe.

[mr.yuck]

Lol. I just read a good chunk of this proposed plan. No one is gonna vote this in. There is a large chunk of it that fucks corporations and if the government can’t get money from the corps, it gives them the power to go after individual shareholders to recoup losses on behalf of the corporation. I feel like this is going to bomb into the ground and the Democratic Party is going to use this as “See the greedy Republicans don’t care about the American people,” bullshit that always goes down in an attempt to consolidate power in the house and senate in years to come.

[mr.yuck]

19 minutes ago, nicklesndimes said:

sometimes it seems like you need to tell little white lies to the government to get ahead in society. it just tries to complicate things to the point where success is just out of reach for the people...not really sure why though....

You should always lie to the government! Great big lies!

[Mercer]

 

[metronome]

This seems not good.

 

 

[Mercer]

[metronome]

Ed Snowden's substack has been really good so  far.  His thoughts on a CBDC:

https://edwardsnowden.substack.com/p/cbdcs

[ndv]

My bank sent me a thing in the mail asking me if I approve or disapprove of the 600 dollar thing.  I am glad my bank is asking its account holders to sign a petition.  I guess sometimes the customer has a say in it. 

 

I'll need to find the letter amd I'll post it here.  

[Mercer]

1 hour ago, ndv said:

My bank sent me a thing in the mail asking me if I approve or disapprove of the 600 dollar thing.  I am glad my bank is asking its account holders to sign a petition.  I guess sometimes the customer has a say in it. 

 

I'll need to find the letter amd I'll post it here.  

 

 

What bank is that? 

 

Also, I got the same shit from Paypal.

[Dark_Knight]

2 hours ago, ndv said:

My bank sent me a thing in the mail asking me if I approve or disapprove of the 600 dollar thing.  I am glad my bank is asking its account holders to sign a petition.  I guess sometimes the customer has a say in it. 

 

I'll need to find the letter amd I'll post it here.  

 

can you post your bank account info on here? 

[ndv]

5 hours ago, Mercer said:

 

 

What bank is that? 

 

Also, I got the same shit from Paypal.

 

I am with primeway federal credit union.  

 

I haven't recieved anything from PayPal just, yet.  Was it a petition type thing?