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

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posted on Sep, 15 2021 @ 08:50 AM
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a reply to: scraedtosleep




'im guessing they think they will catch rich people avoiding taxes.


Yes because nothing screams ill gotten gains like $600 transactions.



posted on Sep, 15 2021 @ 08:51 AM
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One thing that kept the Magna Carta and US Constitution alive was the ability to get out from under the boot of the oppressors, out of town and head to the "liberties" where one can create, trade and live in peace. Even still, the oppressors would not leave them alone. They never leave them alone.

Good news is all civilizations fall under the weight of corruption and oppression and Biden's is getting very heavy and very corrupt. There is a high probability whoever is controlling Biden is going to find that there is a structural limit.



posted on Sep, 15 2021 @ 09:01 AM
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a reply to: peter_kandra

I think it is all transactions in any account over a $600 balance?

I hope I am wrong.......



posted on Sep, 15 2021 @ 09:03 AM
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originally posted by: Klassified
a reply to: neo96
They want to be able to tax and fee every penny that goes through your hands, because they always want more. Americans Spent More on Taxes in 2020 Than on Food, Clothing, Healthcare and Entertainment Combined.


Plus, they get to profile every American and map the country's demographics in a whole new way.




You need to add insurance and interest to taxes.
Insurance is a tax because the government requires you to have insurance.
Interest is a tax because interest is tax deductible. If it is tax deductible, then it represents a prepayment of tax. Which means it is a tax.
So add in a couple grand for insurance and twice that for interest.



posted on Sep, 15 2021 @ 09:18 AM
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Time to invest in crypto privacy coins

Pirate chain /ARRR is a good one



posted on Sep, 15 2021 @ 09:19 AM
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originally posted by: DontTreadOnMe
a reply to: peter_kandra

I think it is all transactions in any account over a $600 balance?

I hope I am wrong.......


Your not wrong.

Any account.

Any transaction.

With an amount of $600 or more.
edit on 15-9-2021 by neo96 because: (no reason given)



posted on Sep, 15 2021 @ 09:22 AM
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originally posted by: DontTreadOnMe
I think it is all transactions in any account over a $600 balance?

I hope I am wrong.......


It's all transactions in accounts with a de minimis of $600.



posted on Sep, 15 2021 @ 09:24 AM
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If this gets passed and you owe taxes or student loans or anything to the government they will just empty your bank account.

I doubt you will even have to owe anythng you will have to give up your $$$$ for the greater good

Not gonna turn out good for any of us
edit on 15-9-2021 by sciencelol because: (no reason given)

edit on 15-9-2021 by sciencelol because: (no reason given)



posted on Sep, 15 2021 @ 09:26 AM
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originally posted by: sciencelol
If this gets passed and you owe taxes or student loans or anything to the government they will just empty your bank account.


Educate yourself, the IRS can already seize your bank account among other things.



posted on Sep, 15 2021 @ 09:30 AM
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They will just drive people back into a cash based society.



posted on Sep, 15 2021 @ 09:35 AM
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a reply to: neo96

I just read the OP and haven't read the replies yet (though I see there are many), I just thought to take a quick moment and piggy-back upon something the OP mentioned (and that I'm certain many others have as well).

$600!!!

Holy Poop! If a friend tells me that they have $600 in their account, I'm gonna say, brother...you're broke! I can (kinda) see if an individual were to make some seemingly outrageous transaction that couldn't be justified that it might raise the eyebrows of some law enforcement (not indorsing it by the way, just saying I could see it). But $600 basically includes everyone...



posted on Sep, 15 2021 @ 09:35 AM
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originally posted by: AugustusMasonicus

originally posted by: sciencelol
If this gets passed and you owe taxes or student loans or anything to the government they will just empty your bank account.


Educate yourself, the IRS can already seize your bank account among other things.


Oh I know

Been there

But wait till they empty yours for the greater good you dont need all that money in your bank
edit on 15-9-2021 by sciencelol because: (no reason given)

edit on 15-9-2021 by sciencelol because: (no reason given)


I mean there has to be a reason for the 600$ thing right?

Its not gonna be a good reason
edit on 15-9-2021 by sciencelol because: (no reason given)



posted on Sep, 15 2021 @ 09:38 AM
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a reply to: TheMirrorSelf

Yeah it went from 10K to 600 bucks

cant be good.

I mean they have to get those trillions of $$$ they spent back
edit on 15-9-2021 by sciencelol because: (no reason given)



posted on Sep, 15 2021 @ 09:43 AM
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a reply to: MDDoxs

Basically the bank sends your monthly statements to both you *and* Big Brother as if he has any right at all to know.



posted on Sep, 15 2021 @ 09:44 AM
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a reply to: sciencelol

Isn't that the amount you can shoplift in Cali?



posted on Sep, 15 2021 @ 09:45 AM
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Is there any point in splitting your direct deposit into as many banks as required to hover below the $600 threshold? That alone would create a massive lifestyle change in how people spend and save.

P.S. - Fluck Biden and the Chinese horse he rode in on.



posted on Sep, 15 2021 @ 09:45 AM
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originally posted by: sciencelol
Oh I know

Been there

But wait till they empty yours for the greater good you dont need all that money in your bank


I haven't been there and I never will, I know how to manage my finances.



posted on Sep, 15 2021 @ 09:46 AM
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originally posted by: sciencelol
a reply to: TheMirrorSelf

Yeah it went from 10K to 600 bucks

cant be good.

I mean they have to get those trillions of $$$ they spent back


Yeah, even 10K is laughable anymore. I bought a new car overseas. No surprise, it costs more than 10K. If the amount was 100K, that would be more in line with costs in the real world. 10K in cash may not be an everyday occurrence, but it is hardly an indicator of criminal activity. The BS meter is beyond pegging anymore.

Cheers



posted on Sep, 15 2021 @ 09:47 AM
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a reply to: AugustusMasonicus

Again because you are so slow.

It wont matter how well you do your finances they are still gonna take it. Count on it.
edit on 15-9-2021 by sciencelol because: (no reason given)



posted on Sep, 15 2021 @ 09:51 AM
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originally posted by: sciencelol
It wont matter how good you do your finances they are still gonna take it. Count on it.


They can't take what I don't have in there. Who is dumb enough to leave large sums in a bank account? Smart people who don't get pinched by the IRS invest their money.




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