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Old 09-27-2021, 08:52 PM
 
Location: Nashville, Tennessee
654 posts, read 280,073 times
Reputation: 572

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There was a thread already started about it. Perhaps it's time to resurrect it: https://www.city-data.com/forum/poli...e-what-if.html

Say goodbye to whatever's left of our privacy.....
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Old 09-27-2021, 08:53 PM
 
Location: Southeast US
8,609 posts, read 2,308,762 times
Reputation: 2114
in theory, you get an accounting for tax purposes from your Bank every year of all interest-bearing accounts. Even if, in today's time, you only earn $0.47 this year
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Old 09-27-2021, 08:53 PM
 
8,181 posts, read 2,792,492 times
Reputation: 6016
Quote:
Originally Posted by Floorist View Post
This will only cost $80 billion.
Yes, and to get a whole lot of junk data that's not going to yield anything in the way of tax receipts. There's a reason the IRS doesn't care about anything under $10k. I hope they like paying for servers. Pretty sure the people earning income off the books in cash are just going to either deal in bitcoin or transact $500 at a time.

Maybe we should all repeatedly transfer $600.01 between our own accounts and bury the IRS in data. If it's data they want, they can have data.....truckloads of useless data. If everyone does this 100 times a month, that's 3 billion transactions a month that's going to yield exactly $0 in tax liability.
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Old 09-27-2021, 08:54 PM
 
Location: Arizona
3,155 posts, read 2,732,691 times
Reputation: 6070
Biden wants to crack down on tax fraud. He's even talked about adding 80,000 IRS agents to audit anyone/everyone. It's going to be a mess.
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Old 09-27-2021, 08:56 PM
 
18,562 posts, read 7,372,997 times
Reputation: 11376
Quote:
Originally Posted by middle-aged mom View Post
Back in 2018, most banks began requiring photo ids for cash deposits of any amount.
I find that hard to believe. Wells Fargo and B of A don't, and if they don't, who does?
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Old 09-27-2021, 08:56 PM
 
28,122 posts, read 12,597,947 times
Reputation: 15341
Quote:
Originally Posted by Jimmyp25 View Post
Joe Biden is a totalitarian shill. He wants government in your bank, in your house, and tell you what to put in your body. The installed Biden regime is by far the most tyranical administration we have had in a while.

Its only going to get worst. Wait till he crashes the economy next year.
Good thing that every single one of us can still exercise our 2nd Amendment rights, to defend ourselves from the Govt.


These are the precisely the things we need to protect against.
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Old 09-27-2021, 08:57 PM
 
7,736 posts, read 4,988,604 times
Reputation: 7963
Quote:
Originally Posted by Starglow View Post
People won't trust banks anymore and will start keeping their money in other places away from banks and paying everything in cash.
Wont happen if the dollar eventually collapses and they move to a digital dollar.....
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Old 09-27-2021, 08:57 PM
 
4,168 posts, read 4,879,858 times
Reputation: 3947
Quote:
Originally Posted by tommy64 View Post
Biden wants to crack down on tax fraud. He's even talked about adding 80,000 IRS agents to audit anyone/everyone. It's going to be a mess.
Well then the IRS should start with auditing Biden and his son Hunter.
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Old 09-27-2021, 08:59 PM
Status: "Apparently the worst poster on CD" (set 28 days ago)
 
27,647 posts, read 16,138,284 times
Reputation: 19074
Hardly being reported is they (dc) are considering raising the threshold to $10k.
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Old 09-27-2021, 09:00 PM
 
7,736 posts, read 4,988,604 times
Reputation: 7963
Quote:
Originally Posted by rstevens62 View Post
Good thing that every single one of us can still exercise our 2nd Amendment rights, to defend ourselves from the Govt.


These are the precisely the things we need to protect against.
im already planning .. just sold my house in austin for a killer inflation profit.. Got me 3 acres , new house, and building my warehouse in the back to run my business from home.

Celebrating with a new firearm when we close next Friday come get me fauci
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