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This goes back to something called 'Know your customer' from the mid 1990's under Bill Clinton. The FDIC proposed the idea that banks should pass on 'suspicious activity reports' to the feds when banking customers fit a certain pattern.
It became somewhat of a cause celebre in conservative and libertarian circles. As with any new federal regulation, there was a provision for public comments. It seems to be buried in history but IIRC there were over 100,000 comments against, and less than 100 in favor. One of the former was mine, in a hand written letter. Considering the 10,000-1 ratio of Americans opposed, the FDIC withdrew the proposal. FRB: Press Release -- Withdrawal of "Know Your Customer" regulation -- March 23, 1999
But just several years later, the proposal was revived and included as part of the 'PATRIOT' act, and signed into law by W Bush.
People want to know what the GOP agenda should be if they take back the Senate. The very first thing they should do is to repeal this law and dare Pres. Obama to veto it.
Was it income they had not reported or where they illegally working I the country. More to this than reported by article :I would bet. Like article was based o one source being those effected and likely thru attorneys. In the state of Texas they will come in legally take you cash registercash if you do not pay state taxes owed on sales.
Was it income they had not reported or where they illegally working I the country. More to this than reported by article :I would bet. Like article was based o one source being those effected and likely thru attorneys. In the state of Texas they will come in legally take you cash registercash if you do not pay state taxes owed on sales.
Read the article. She was not accused of cheating on her taxes, or of any other crime. She just had $33,000 in the bank, and they grabbed it.
Was it income they had not reported or where they illegally working I the country. More to this than reported by article :I would bet. Like article was based o one source being those effected and likely thru attorneys. In the state of Texas they will come in legally take you cash registercash if you do not pay state taxes owed on sales.
See, things like this.....wow, a potential disaster in the making(I do not endorse of condone violence except in self-defense, just saying.).
Some guy who is already a hothead and is working his @ss off to make his business survive. Then he gets a friendly notice from the IRS that his bank account, that HAD 40K in it, has been drained!!! So this guy just loses it...........goes down to the local IRS office for a very, very violent "visit".
wut- they are both examples of government overreach. Holding someone captive with no symptoms is government abuse. How much should NJ compensate her for the 21 days she will be unable to work or take care of her family?
No, it's not. Not in cases where a person is known to have been in close contact with Ebola. Too deadly to draw a happy face and hope for the best.
See, things like this.....wow, a potential disaster in the making(I do not endorse of condone violence except in self-defense, just saying.).
Some guy who is already a hothead and is working his @ss off to make his business survive. Then he gets a friendly notice from the IRS that his bank account, that HAD 40K in it, has been drained!!! So this guy just loses it...........goes down to the local IRS office for a very, very violent "visit".
Yep. Exactly. Not condoning it either, but if it were to happen, it would make perfect sense.
Besides the collective apathy of the American People at large, the blame also lies squarely at the US Supreme Court for not ruling laws like these unconstitutional.
Bottom line is that it ought to be just a hard for the government to seize someone property as it is for them to send you to prison. PERIOD
Totally living off the land on an uninhabited island in the Bahamas is sounding better and better each day as the US goes further and further down the toilet.
While this is a sad story, please give me an example of the last time you deposited $33,000 IN CASH to your account. I've had occasions where's I've moved largish amounts of investment money, and they've always said there was no problem because it was clearly defined where the money was coming from.
Think about the last time you receiving some large amount. Wasn't it a check?
Who has that much in cash? Even owning a restaurant, wouldn't most of the till be debit cards, credit cards, etc.?
I moved cash to get ready to buy a car with a check.
I liquidated investments.
I received a large gift.
All of the above have happened to me. It is ridiculous for the IRS to seize any funds at all without probable cause of criminal activity.
If I was regularly depositing $9999 - that deserves investigation. But seizing the money? Only with justification.
Yep. Exactly. Not condoning it either, but if it were to happen, it would make perfect sense.
Besides the collective apathy of the American People at large, the blame also lies squarely at the US Supreme Court for not ruling laws like these unconstitutional.
Someone has to bring a case before them for them to rule. The court put a squash on part of it once with Congress changing the wording to get around it.
Remember how we used to laugh at crazy old people, those who had lived through the Depression, always ranted against the government and hated banks so much they kept their money under a mattress?
Turns out they weren't so crazy or paranoid after all.
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