Biden Proposal Would Give IRS access to your bank account.

originally posted by: musicismagic
a reply to: GravitySucks


That's a myth . You can not hide your money in overseas bank account these days. Maybe go to Mexico with cash and deposit there, maybe that might work. Try depositing your money in a Belize bank. It may just disappear suddenly one day.

That was a joke. Us poor schlubs sure can't do it, but trust me, the rich can and do hide their money in a million ways. The mattress it is!

a reply to: musicismagic

Cayman islands are the Caribbean version of swiss bank accounts.

Lot and I mean a lot of loop holes if you store funds there, and it is secure. Rumor has it a number drug Lords use them.

I got an email from both of my banks last week talking about this. They both say they strongly oppose it.

This is a plot by the big 3 banks to crush small hometown banks. The big players want out of retail banking anyway. They are already turning over their consumer banking to regionals.

The ultimate plan is to have the US government (probably IRS) control banking, just like Obamacare put the USgov in charge of retail healthcare. The majors will do private/boutique banking for corporations and the super rich.

In every economic sector, we are seeing 2 tracks: the rich are served by giant megacorps and the poor are “served” by the federal government.

Notice there’s no room for state governments in the above vision for
the World Of Tomorrow

Biden is being tempted to arrest redstate governors for resisting federal mask mandates. He’d love to close down state legislatures and have the permanent democrat Congress rule on behalf of the states. Then future Democrat presidents would appoint governors whenever the dems lost a another state election.

Controlling your accounts makes all this easier. And easier to arrest the insurrectionists and domestic deplorables

originally posted by: Chalcedony
sentinelksmo.org...

The Biden Administration’s 2022 budget proposal — which claims to advance “equity across government” — included a provision that generally slipped under the radar, but would impose onerous new reporting requirements on community banks and raises privacy questions.

The Independent Community Bankers Association reports that the proposal would require financial institutions to report information on customer bank accounts to the IRS.

Currently, banks are only required to report deposits of $10,000 or more, however, the proposal would require banks and other financial institutions to report to the IRS on the deposits and withdrawals of all business and personal accounts with a balance of more than $600. 

The Kansas Bankers Association objected strongly to the proposed requirement and said flatly that they stand in opposition.

“The new reporting requirements would raise questions about customers’ right to privacy, create unnecessary and expensive burdens for banks and raise the cost of tax preparation for small businesses,”  President & CEO Doug Wareham said in a statement. “While all banks would be affected, small community banks with limited internal resources will be especially burdened by this new requirement. The new requirements will require a massive and expensive compliance effort to track and report inflows and outflows on all bank products.”

So I guess now the government wants to know if you have 600 dollars. I just want to ask why all the micromanagement? Can anyone explain the government's need to micromanage nearly every aspect of our lives? Is this what you elect them for? Why don't they do anything about any real issues and why do these same people who keep doing the same nothing for America just keep getting re-elected over and over again?

This legislation would make it harder for the wealthy elite to hide their financial dealings when avoiding taxation.

a reply to: AaarghZombies

No it wouldn’t make it harder for the rich.

The rich don’t keep their jillions in a bank account. That’s poor-guy thinking.

The rich transfer their wealth into “non-monetary assets.” That don’t get taxed.

You fly to the British owned Caribbean islands ( not subject to UK banking laws, but actually the “city of London” banking laws, read up on that one sometime.)

You don’t open a bank account; you set up a Bahamanian company that buys bonds in the UK. The Bonds are in a wholly- owned UK corporation that.... owns stock in the US stock market, and EU bourses.

Wall street’s rules have special exceptions for British investors, and the largest foreign nation to own USA stocks is Great Britain.

Anyway you don’t have to report that you sit on the board of a Bahamian company. Just the checks they send you. Otherwise you have them operate a services company that maintains your beach house, and pays your maid and groundskeepers for you. You just live there. You never spend money on any expenses. Your foreign company does that. And since you don’t get money into a bank account, you don’t pay taxes on the money spent on your behalf by your Bahamian company that cannot be traced back to you. And couldn’t be taxable even if it was traced.

Paying taxes is for the working class.

After Biden's unbelievable, vile, demonizing speech on 9/9/21, against those who dare question the vax narrative, take a look back at the parallels of the Reichskristallnacht ("Crystal Night"), Nov 9-10, 1938:

Ernst vom Rath died of his wounds on 9 November 1938. Word of his death reached Hitler that evening while he was with several key members of the Nazi party at a dinner commemorating the 1923 Beer Hall Putsch. After intense discussions, Hitler left the assembly abruptly without giving his usual address. Propaganda Minister Joseph Goebbels delivered the speech, in his place, and said that "the Führer has decided that... demonstrations should not be prepared or organized by the party, but insofar as they erupt spontaneously, they are not to be hampered." The chief party judge Walter Buch later stated that the message was clear; with these words, Goebbels had commanded the party leaders to organize a pogrom.

Some leading party officials disagreed with Goebbels' actions, fearing the diplomatic crisis it would provoke. Heinrich Himmler wrote, "I suppose that it is Goebbels's megalomania...and stupidity which is responsible for starting this operation now, in a particularly difficult diplomatic situation."

The persecution and economic damage inflicted upon German Jews continued after the pogrom, even as their places of business were ransacked. They were forced to pay Judenvermögensabgabe, a collective fine or "atonement contribution" of one billion Reichsmarks for the murder of vom Rath (equivalent to 7 billion in 2020 USD), which was levied by the compulsory acquisition of 20% of all Jewish property by the state.
Kristallnacht wiki

A pogrom is a violent riot which is aimed at the massacre or expulsion of an ethnic or religious group, particularly Jews. Replace Jews with Anti-vaxxers and anyone who questions the ministry of truth.

I suspect the Bideneko Regime is attempting to provoke a similar type of pogrom via his message to the many regime cells and agent provacateurs around the Country AND a fine or "atonement contribution" will be forthcoming to cover the cost of potential pogrom. Maybe, who knows what the response will be in the coming weeks, but I'm quite sure they are hoping for some sort of violent reaction. I wouldn't put anything past these psychopaths. A game of who blinks first. Is AUS a prelude of what is to come.? The beginning of this century is uncannily mirroring the beginning of the 20th. We're on the precipice of Go time...we either grow a pair or we don't.

More "atonement" consideration...

Biden’s $600 Financial Reporting Requirement Could Lead to Even More Violations of Taxpayer Rights

These findings should be alarming to taxpayers given that President Biden has proposed creating a new comprehensive financial account information reporting regime which would force the disclosure of any business or personal account that exceeds $600. Not only would this include the bank, loan, and investment accounts of virtually every individual and business, but it would also include third-party providers like Venmo, CashApp, and PayPal.

That is far lower than the $10,000 limit.

Biden's 'Rescue Plan' Will Sic the IRS on Anyone Who Earns $600 in the Gig Economy
What does this have to do with the pandemic? Nothing.