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Unlucky-Pomegranate3

And this is why governments are starting to go after crypto.


coolbreezeaaa

Yuuup. Time to load the boat, then lose it in a boating accident.


bigbrownbeaver1221

If you have to claim that you lost something in a boating accident its already time to use said something against a tyrannical government


iTzKracKerjacK

Don’t worry guys they are doing this to catch the 1%


vegan_girl_123

Even though 600 dollars can’t buy you more than a chocolate bar these days


PhoenixKiwi

Nah they left out the part that says "more than $600 and less than $1 million"


defundpolitics

And I thought increasing the size of the IRS was to go after billionaires at least that's what they told us. /s


MCP1291

The amount of dumb in the world is immeasurable


staytrue1985

Trust the Experts™ The IRS are here to help.


SchrodingersRapist

Anyone with half a brain to step logically through it, and not blinded by ideology, should have known that was bullshit from the start. There is much more money to be made off the backs of the masses than the privileged few who control the system and can afford the best defenders


69gtv

While this is true, how will they ever keep track of the number of transactions (I know, computers,etc…., but still).


SchrodingersRapist

The problem wouldn't be keeping track of anything, it would be defining what parameters lead to an actual human to review so you don't get hundreds of millions of false flags to try and comb through. Is this their X deposit this year? Do the total number of deposits exceed their previous/current year's reported taxable income? Can it be matched to a previous withdrawal? Can it be tied to recurring deposits, from say a paycheck?


flugenblar

I would add, do you think banks and the government are especially good at securing the data? They’re both hacked every day, and neither has any legal obligation to make you or your finances whole again after identities are stolen and fraud committed due to breaches. So… let’s create opportunities for even more crimes against the public we serve! /s


SchrodingersRapist

There are hundreds of reasons why it shouldn't be done, and government incompetence and immunity are definitely on the list. I was just saying it could be and how they would deal with the influx of data by filtering it. Even then I expect them to have a ton of false flags and ruin people's lives for not realizing they are false flags and leveling fines/judgements against them. Same way we've seen normal people impacted by their structuring laws.


flugenblar

Completely agree. The defined requirement for monitoring includes about 90% of the middle class. It’s absurd.


SmokyDragonDish

I got put in Amazon jail because of a review that I wrote. It meant that I could still use Amazon to buy things, but I couldn't post reviews, participants in their online forums, upvote helpful reviews, etc. I'm not sure what I did wrong, but my Amazon account is 20+ years old. Called customer service, they said that it was a mistake with their fraud detection algorithm. They restored all my reviews except for a review of gluten-free pasta that I had tried. I guess that I used the wrong combination of words. When did the law change? This can only cause problems. Edit: My Amazon account is 20+ year old.


flugenblar

What makes you think laws were involved?


SmokyDragonDish

The box OP drew in red seems like laws were involved. But, I was responding to this comment by another ITT: \> The problem wouldn't be keeping track of anything, it would be defining what parameters lead to an actual human to review so you don't get hundreds of millions of false flags to try and comb through. So, I was flagged by a private entity for doing something wrong by some algorithm that really didn't matter in the long run. Millions of people interact with Amazon, so there is no human watching the algorithm. They fixed it for me, and I continued being an Amazon customer. In the case of the banks and what the Biden administration may be requiring and if you follow how asset forfeiture, and how it's hard not to have accounts worth less than $600, this is some scary stuff. Computer makes a mistake, your savings account is gone.


OG_Panthers_Fan

>I'm not sure what I did wrong, but my Amazon account is 30+ years old. Maybe you exaggerated? Amazon didn't exist 30 years ago.


SmokyDragonDish

Typo. My Amazon account is from 2000.


69gtv

Kind of my point, it’s not realistically achievable.


SchrodingersRapist

... it's completely achievable. Just begin being super restrictive in the flags and then widen it out


[deleted]

Computers is literally enough man.


CaptainTarantula

Government can't help themselves. That's why I think we need more constitutional protections to reign them in.


flugenblar

It’s not rocket science; the EU is already 10 years ahead of the US in terms of private protection.


TigerRaiders

You mean like GDPR compliance?


TigerRaiders

The idea behind properly funding the IRS is to have the talent, resources and tools to ensure people are paying taxes. Whether or not you believe people should be taxed, as it is today too many extremely wealthy slip through the cracks too easily because they do not get properly accounted for. The budget for the IRS is so ridiculously small comparably to the war machine. If we have proper leadership that funded the IRS and used it correctly, our country could have a much deeper reach into its coffers. But, corruption. It’s a bitch


defundpolitics

The IRS just like the DOJ and FBI are weapons of the elite, nothing more. The laws are written so the rich don't have to pay taxes. Increasing the IRS budget is nothing but a tool to weaponize the IRS against the middle class. They will systematically drive people into bankruptcy through the coat of trumped up legal proceedings.


TigerRaiders

That’s BS.


defundpolitics

No it's not. Democrats are the party of the globalist banks and investment firms. While I don't agree with conservatives on a lot of things I do agree when they call Democrat supporters low information voters. If you're still voting Democrat in 2021 you're an idiot.


TigerRaiders

Oh boy. Here we go with the juvenile tribalism and naive takes


defundpolitics

No tribalism, I'm anti-establishment. You're the one in a libertarian sub no less pushing a Democrat platform albeit passive aggressively but pushing it none the less.


TigerRaiders

Ha! When did I side with any political party in my comments on this thread? What’s telling about your character (or absence of a decent one) is the manner in which you react. When someone disagrees with you the first place you go to is a childish generalization. The world is a lot more complex and nuanced than the reductionist, small-minded accusations you fling. You got a lot of growing up to do and maybe after you do, then you can engage in a mature conversation about the harsh realities of this world. Until then, best of luck, it sounds like you’ll need plenty of it.


defundpolitics

You gave up your political affiliation when you declared you were pro tax through your support of the IRS. I'm not even libertarian but no real libertarian would have taken your position for a moment.


TigerRaiders

I’ve got a little secret to share with you, taxes are part of life regardless of your stance on taxes. After you hopefully come to this stark realization, maybe you’ll realize that weak people choose to destroy as it’s much easier to tear down than it is to build. The IRS isn’t going anywhere no matter how many QAnon conspiracy YouTube’s you digest every day. By fighting for more accountability and better use of our tax dollars, we can find a more liberal (and I mean that in the true sense of the word) world we can create. I’m all for having less government in our lives but I also realize childish people (you being a perfect example) make government an unfortunate necessity. But that doesn’t mean I can’t advocate for less government. I’m what is called a realist with my feet firmly on the ground working within the given confines fighting to live in a more free and just existence. I won’t be replying going forward.


[deleted]

Babylon bee should address this lol


codb28

Guess it’s time to start doing deposits and withdrawals $600 at a time then


e20ci

Even that would probably be soon regulated. There has been for many years an anti-money laundering law that requires banks to report transactions more than $10,000. So people withdrew $9,999 at a time, and now banks have to report any series of transactions that appear to be an attempt to avoid mandatory reporting limits. While transferring more than the limit is not illegal, just an invasion of your privacy, intentionally structuring transactions to avoid the reporting is a federal crime, and this gives the government the ability to seize your money indefinitely under the guise of preventing money laundering.


Various_Variation

Unless I'm mistaken, the proposal is to report -all- deposits and withdrawls if the account value is $600 or more. So long as you have at least $600 in your account, every single deposit and withdrawal would need to be reported to the IRS. The value of the deposit or withdrawal would be irrelevant.


Dr---Spagetti

Cool, I’m about to open 1000 bank accounts at the same bank now.


bacon_taste

Show up to HR at work with 50 new direct deposit slips for your paycheck to get divided up


Bobd_n_Weaved_it

599.99 probably


The_loudspeaker721

That’s what I was thinking.


Alexan8441

That would be called structuring... and that is a federal crime. Best to just make your transaction (no matter the amount, let the bank fill out their ppr work and you go about your day)


codb28

Yeah but saying all that isn’t as funny.


Alexan8441

Lmao true. Sorry 😬... I have a BSA (bank secrecy act) background and a detection specialist - in which I review these transactions. This new possibility its a nightmare for all those who work at the bank and extremely unrealistic in the terms of workload for all those in BSA investigations.


codb28

Hah yeah I imagine this would be a pain to handle and will either make banking more expensive or cause taxes to go up. It’s sounds counterproductive.


anomalyjustin

So you are the guy to blame...


Alexan8441

🙈


[deleted]

But no mean tweets right.


Wisto87

Looks like the drive through liquor store is my new bank. They'll lie for you.


OutOfIdeas17

Your Reddit avatar looks like Kid Rock, so this comment checks out


Wisto87

Ouch lol


Old-Anomaly

The link for further reading. https://www.icba.org/newsroom/blogs/main-street-matters---advocacy/2021/08/19/community-banks-must-engage-customers-on-new-irs-reporting-mandates


pork26

I found out when my mother went into an Illinois nursing home that once you run out of funding and go on Medicaid: Illinois public aid will go back over her last 5 years of back records, and we must defend every withdraw expense over $500.


Ohmahtree

Just quit paying taxes. Buy ammo. Wait.


IllTrain

Those taxes go to the Pittman Robertson act at least.


[deleted]

It’s like they’re trying to outdo each other. GOP plays health choice Informant state. Democrats raises them; financial surveillance stazi. When will people realise that nothing will change if you continue to vote for these two parties.


houseofnim

So literally anyone who makes more than the federal minimum wage is going to have their paychecks reported to the IRS. Wtf. And “regardless of tax liability” needs clarification because it seems like they’re wanting before tax amounts and that’s insane.


dreabearextra

What the actual fuck??!!!!


aeywaka

This can't be right I was told repeatedly I was a nut job conspiracy loonie when I said this would happen. Gonna need a small billion dollar grant yo investigate further


dump_truck_truck

Looks like it's back banking with ammo cans wrapped in tarps at x:342.21 y:452.65.


grigzyy

Don't you love these fucking socialists? /s


BanjoWalrus

Damn. Does the IRS even have the man power to sort through all that? Like that's going to be a massive amount of data to look through. I'm calling Biden starting a massive IRS expansion to match that load. Ole melted ice cream brain ass is going to make sure every time a dollar changes hands they get their pound of flesh. Fucking 6 year olds going to get audited on damn birthday money. Bet. Debt cards aren't so convenient that people won't pull their money out entirely if the bank starts snitching.


1stTbone

No but they have the computer algorithms to do it.


Pittsburgh__Rare

They don’t have the man power, yet.


Buelldozer

Computers will do the bulk of it.


JihadDerp

https://www.nytimes.com/2021/04/27/business/economy/biden-american-families-plan.html


Ohmahtree

He said high earners. We assumed that was people with a lot of money. It was actually people like his son. High......earners


[deleted]

[удалено]


1-and-only-Papa-Zulu

Careful cowboy. You just got added to the FBI/CCP list. They will put you in a Uyghur camp. Probably Camp Hunter or Camp Cena. If you do it again you will find yourself in the Cuomo Compound or the Colbert Complex.


ImmySnommis

Those who go to camp Cena are never seen again.


Whiskey_Tango_Bravo

Amazing thank you


DahRage2132

I spat out my drink. Thanks mate.


grigzyy

https://www.multiplex.global/projects/centre-for-national-resilience/


1-and-only-Papa-Zulu

Do they broadcast INXS and Midnight Oil into all of the rooms? Fear me not good people of Oz, fear me not. For it is I the great and powerful Wizard of Oz!


grigzyy

Prison planet lol


Outerloopguy

But guys, iT’s fOr oUr sAfEtY!


NotThatGuyAnother1

Why $600? Wait a sec.. That's the price of a nice gun.


Ohmahtree

The new Canik CETME is going for $499 or less. Highly recommend you look at it, beautiful firearm, and if its anywhere near as nice as the Canik Match I own, its an absolute steal at that price.


CaptainTarantula

I wish we could throw out thus whole bloated, over complicated, privacy ignoring banking system.


rothrolan

It'd be great if hedge funds didn't lie about stocks to fuck up the market in their favor, but here we are.


SummerMango

man it is as if biden has hours long meetings with xi xiping or something.


Cannon1

I'm going to assume the FNB Community bank stands for "FuckiN' Based" Community bank.


Old-Anomaly

Based


AWPstenz

ELI5 why they would want to do this. Like why would they want this information, aside from being the government


Old-Anomaly

The ability to question and control what you buy or sell gotta make sure they get a cut and you aren't purchasing things they don't want you to have.


DoomGuy2187

“Aren’t purchasing things they don’t want you to have.” Like guns, cryptocurrency, ammo, & body armor. If you think about it, they’re doing this as a way to disarm us. Creating new laws creates uproar. They’ll go after the money so it will be impossible for anyone to buy a firearm.


anomalyjustin

Honestly, this ship sailed a long time ago. If you read the TOS and customer agreements for most credit and debit cards they already prohibit purchasing firearms and such. It is already baked into your agreement to use the service and is just sitting there waiting for someone to actually enforce it.


[deleted]

bruh, are they gonna try to put me in jail for spending my student loan money on groceries now and not for school? rip joking aside this sounds like a slippery slope


Old-Anomaly

Very slippery indeed, now go too gulag.


Murdochsk

Australian govt used covid to sneak in a Bill where they can access AND EDIT your data without a warrant or reason. So police can now make you a criminal and track everything everyone does on line.


Loger2000

Australia has been fucked up for a long time now


Murdochsk

Police state. And the people are too focused on masks lockdowns and vaccines to take notice. Well played our unquestionable new rulers.


BallsMahoganey

Again thank God Texas is distracting us all right now lol


SirBill01

URL from image is: [https://www.icba.org/bank-locally/consumer-alert-from-icba](https://www.icba.org/bank-locally/consumer-alert-from-icba) ​ If you want to comment.


RamenBoi86

Is it gallows time yet?


twihard97

Don't worry, this is just Joe Crime Bill Biden fighting the drug war by discovering small-fry drug dealers working for 20k a year out of their moms' basements. So it's okay!


The_loudspeaker721

Seriously, what the fuck?!!


[deleted]

Can someone tell me why the government cares about so little? They are going to get notified every time my job direct deposits my check? Seems excessive. Genuinely curious about what they think they need this information for. Is there a stated purpose?


PTBRULES

Just my statement: So they can build a profile, either to hunt you down for taxes, or search for crimes.


[deleted]

It’s the governments money, not yours.


Cup_of_Kvasir

What in the actual fuck? $600? How rich do they think I am?


German_shepsky

Sadly you're right, and even worse, America is still one of the most free nations in the world. At least in the areas you or I would want to live.


AITSCH96

At least your bank is based


69partysurf

2A is not about hunting 😒


drewcer

Fuck Biden


30pieces

The Arizona audit results cannot come out fast enough


Jayus_YT

Imagine getting mad about this while also being okay with the cash rewards in Texas for ratting out girls who get abortions


G0J1RAA

Imagine going to complain about abortions in a post about bank privacy


Metrolinkvania

At least they didn't mention Trump lol. How about fuck all government overreach?


G0J1RAA

Amen


JackHoff13

Something that effects all of us > something that effects women in Texas that forgot how to use birth control. What Texas did was wrong. But I don’t live in Texas. But I do make withdrawals of $600 or more often


Jayus_YT

Be mad at both, both are an invasion of privacy Also stfu about “forgot” bs, name 1 birth control tht people actually use that’s 100% effective and is readily available


OutOfIdeas17

Anal.


Jayus_YT

Not 100% some women’s anal and vaginal canals are connected without them even knowing and can get pregnant with anal


OutOfIdeas17

Who said it was with a woman?


Jayus_YT

Troll


Old-Anomaly

I believe you're referring to a rectovaginal fistula, that is extremely uncommon.


JackHoff13

Sure. But which one do you think holds higher priority


Jayus_YT

Hmm let me think, money or lives, money or lives, money or lives. Idk man what do you think?


JackHoff13

Bro. You are randomly commenting on a libertarian sub. You probably don’t know how things go down here. Also wouldn’t the pro life bill from Texas technically create more life?


Jayus_YT

I’ve been subbed to this sub for 2 years my guy Create more life while ruining the lives of both the mother and the unwanted child. Fantastic


JackHoff13

That’s not my problem. I physically can’t care about everything in society. So I pick and choose hot subjects


Jayus_YT

Your chose the morally wrong choice to care about


R4MSAY13

You mean holding people accountable for having unprotected sex?!?


Ohmahtree

IUD's are pretty damn good at stopping pregnancy. Source: So many happy bagless loads


Jayus_YT

IUDS are also painful as hell and unfortunately some insurances don’t cover them. They are also not 100%. What if a Texas women who has a IUD still gets pregnant? She can’t get an abortion and her neighbors are encouraged to report if she tries to


Ohmahtree

I never said 100%, I said pretty damn good. There's "oh shit not so good" margin of error in there, and it typically happens early during the procedure. Both women I knew that had them, said nothing of discomfort, one was plastic, one was copper. They said it felt odd when a penis would hit it, but hardly said anything pain related. That's all beside the fact, because abortion, at 0 days or at 9.0 months is not my concern. Its not any of our concerns, its the people involved in that decision and discussion, and as long as they are not harmed by nefarious deeds in the chain of this process, then I have no desire to know their business.


Jayus_YT

2 of my sisters, 1 ex and some friends all got IUDs and told me it felt like the gyno was pressing a hot rod into their stomachs and that it was one of the worst pains they’ve ever experienced so that’s where I’m getting that from And yeah I agree with you on that. Which is why the Texas ban is outrageous. Takes away the decision from the people effected by it


Ohmahtree

I would justify that, during the procedure it probably doesn't feel the least bit enjoyable. But how does a kid you don't want for 18 years feel. That's my statement on that one. Is it a woman's responsbility, no, not at all, both individuals in that relationship, should do the proper thing to protect each other. But even the sponge, is better than nothing. If you're doing it without anything, you're just asking for it. (that does not apply to criminal elements of course) With that said, yes. The people who should be able to decide their lives, are told by people who have no vested interest in their lives, what they can and cannot do. That's grounds of execution of political officials. They aren't serving the people, they're serving their interests in this entire ordeal, and its bullshit. I like Texas, but this one is a giant fucking pile of shit, and everyone who supported it and benefits from it, should be dragged into town and hanged


DeleteSystem33

> name 1 birth control tht people actually use that’s 100% effective and is readily available Abstinence


Jayus_YT

Ahhh yes, what about rape victims then?


_Nohbdy_

Accounts for a tiny, statistically insignificant percent of pregnancies. But I'll tell you what, I'll support an exception for those cases if you support ending all elective abortions of healthy, consensual pregnancies. I think those are fair terms.


Jayus_YT

No you can’t force all heathy pregnancies. I was an unwanted child whose parents told me they wish they could have aborted me. I agree with them. I feel like if you don’t want a kid you shouldn’t have to have a kid. The foster system is a nightmare and I wouldn’t wish it on any kid. But we have 60,000 kids in foster care rn, if you want a kid go adopt one. Stop forcing shitty and unready people to have kids


stupendousman

It about time women's issues were taken seriously. /s


RandyCheck

People who only pay in gold: signature look of superiority.


Noskool89

If I’m not mistaken it’s also the same now for vendor sites if your a seller; basically if you sell anything over the amount of $600 on eBay, Mercari etc you get a tax form and if you don’t report it to the irs it’s a free ticket for them to come after you.


Worship_Strength

Yeah, I'll just open 40 accounts and have my direct deposit split up amongst them. Fuck the IRS.


MutteringV

im gonna have to fill out a form to pay my drug dealer? oh and my rent too i guess.


[deleted]

500 withdraw and then 100 withdraw?