Your money is government business...

[BE Mike]

I often stand in line at the service counter of the grocery. It is really common for two or three people who cannot speak english in the line to be wiring money to Mexico. $800 to $1500 at a time, even if they have to make 3 transactions to make it happen. I wonder what ol' joe's IRS thugs think about that?

"Future Democrat voters!"

 

[Ingomike]

well, there's no easy way to admit this... I'm a closet nice guy.

You will not fit in here then…. LOL

 

[Jaybird1980]

Yep, this pre-dates the current administration by 2 decades now...

Had to dig deep for this...

Know your customer - Wikipedia

en.wikipedia.org

Of course the Damn Patriot Act.

Thanks for the screwing W.

 

[phylodog]

The program, as onerous as it may be, is a systemic process to catch contractors, small business, and criminal cheating on taxes. It intends to flag things like total amount flowing through an account, foreign transactions and repeat transaction. From what I've read it's done with software that triggers a report from the bank to the feds.

All while the politicians ignore the billions of dollars not paid by their corporate buddies every year.

Wouldn’t it be a novel idea for the morons running our government to try to actually not spend as much rather than hiring 80,000+ new IRS agents and doing surveillance on Americans to steal every last red cent they can?

These ****ing morons just agreed to spend over a trillion dollars which does not exist and they have the audacity to demand to see what people choose to do with the money they actually earn.

 

[Karl-just-Karl]

Basically, this is just another form of pre-crime. Isn't it?

 

[manifest destiny]

Circa 2017... My wife and I were members of a credit union for about 20yrs. We entered to withdraw $20k cash for RV purchase from private seller. They denied the withdraw claiming they didn't have that much on-hand and that we'd need to return tomorrow and the manager would take us to the back, for privacy, and give us our money. Teller also said some form (she called it by name) would need to be signed and "they might want to take a picture" of us. After sleeping on it, we backed out of the RV deal and never returned to get our cash. The experience was just creepy. A picture??
As for cash-money skeezers trying to skirt tax liabilities, the .gov could correct that by dropping income tax and instating a national sales tax. Even Dopey-McDope-Dealer, would have to pay The Man with a sales tax. Heck, we probably ought to spend all the fiat we have on something tangible. I doubt the paper will be worth much soon.

 

[oze]

I had a buddy that had worked hard, lived cheaply, and saved his pennies. He got the same third degree when he tried to get a cashier's check to buy a car. They came right out and said he must be a drug dealer to have that kind of money at so young an age.

Most people cannot comprehend that it is possible to live by different rules than the average debt saddled person.

It's been a few years, but I bought a car from a private seller, and needed to get a $26,000 cashier's check to pay for it. Teller didn't bat an eye, nor ask any questions. And this was at a Chase branch in the People's Republic of ill.

 

[BugI02]

They just lowered it to $600

And that is just a hair more than $82 in 1970 money (that's the year RICO went into effect

The multiple is 7.31, so that $10k in 1970 would be $73100 today, and likely more given the pace of Bidenflation

 

[BugI02]

Circa 2017... My wife and I were members of a credit union for about 20yrs. We entered to withdraw $20k cash for RV purchase from private seller. They denied the withdraw claiming they didn't have that much on-hand and that we'd need to return tomorrow and the manager would take us to the back, for privacy, and give us our money. Teller also said some form (she called it by name) would need to be signed and "they might want to take a picture of us." After sleeping on it, we backed out of the RV deal and never returned to get our cash. The experience was just creepy. A picture??
As for cash-money skeezers trying to skirt tax liabilities, the .gov could correct that by dropping income tax and instating a national sales tax. Even Dopey-McDope-Dealer, would have to pay The Man with a sales tax. Heck, we probably ought to spend all the fiat we have on something tangible. I doubt the paper will be worth much soon.

Unfortunately, those always seem to turn into a VAT when implemented, because that allows several places to charge a tax and the amount of tax in the final purchase price is hidden

Funny how they don't want you to see just how much tax you are paying under just about every system of taxation.

While I wouldn't support it, you would need to institute it by amendment while simultaneously repealing the 16th or you would quite likely wind up with both at some point

 

[BugI02]

Its both. When its a casual "whatcha doin with that?" question, its likely the fraud prevention. When they whip out the form, THEN its the .gov tracking.

I assumed that the teller becoming louder, as was mentioned, was so her supervisor could hear that she was being a good little Stasi

 

[BugI02]

When filling a gas tank is $95 and dinner for two at any common sit down restaurant is $60, hiring men to keep track of every citizen that is spending $600 OF THEIR OWN MONEY, makes no sense.

Of course making no sense is the trademark for the current Administration.

Yeah

'Nobody making less than $400k will pay more taxes', but even if you made $600 every day including on weekends it only comes to $219k

I get that they think people are dodging whatever taxes they can, but wouldn't it be better to put all that effort into going after bigger fish?

 

[Lpherr]

I've needed to withdraw larger amounts, and each time, they take a pic of front and back of DL and have you sign a form for the withdraw. I think the form states something about you acknowledge that carrying cash is dangerous and it's safer in their bank.

 

[BugI02]

Just do a wire transfer to the seller's bank. Can't be counterfeited like a cashier's check, it is an actual money transfer. Fidelity has never asked me a single question beyond the particulars of the transaction like account information

It costs like $19

 

[patience0830]

Just do a wire transfer to the seller's bank. Can't be counterfeited like a cashier's check, it is an actual money transfer. Fidelity has never asked me a single question beyond the particulars of the transaction like account information

It costs like $19

$20 to use my own money?
**** that.

 

[BigRed]

All while the politicians ignore the billions of dollars not paid by their corporate buddies every year.

Wouldn’t it be a novel idea for the morons running our government to try to actually not spend as much rather than hiring 80,000+ new IRS agents and doing surveillance on Americans to steal every last red cent they can?

These ****ing morons just agreed to spend over a trillion dollars which does not exist and they have the audacity to demand to see what people choose to do with the money they actually earn.

AMEN!!!!

 

[Dante1983]

To where... some other bank under federal orders?
If I didn't need a debit card account for direct deposit, (VA disability) I'd go back to all cash until they outlaw it.

I used to bank at 5/3. They did that to me. Now I bank somewhere else. They don’t. I have something out of the ordinary I sit at the managers desk for a minute and get it. Maybe it’s a federal mandate or something but they treat it like good customer service. Idk. That’s fine with me

 

[BigRed]

Well, that's what I'd like to do but two things stood in my way.
1. I was caught off guard, and just responded.
2. The reason I was caught off guard is, well, there's no easy way to admit this... I'm a closet nice guy.

I'm a nice guy.

 

[Cameramonkey]

$20 to use my own money?
**** that.

No, $20 to use somebody else's electronic network to get your money from point A to point B.

Next thing you'll be b***ing about having to pay Fedex to physically move your cash cross country to them instead.

 

[daddyusmaximus]

No, $20 to use somebody else's electronic network to get your money from point A to point B.

Next thing you'll be b***ing about having to pay Fedex to physically move your cash cross country to them instead.

I get that banking is in fact a business, but I put MY money in the bank for safe keeping.
Otherwise I'd just pay cash for everything except large items I need a loan on.
If they want to take MY money, and THEIR electronic network to make a profit on while it's there, I'm fine with that.
However, if they then expect me to pay a fee to get it back later...?

Nope.


It's still mine.
They've had their chance to make a profit...
They probably even charged me a "service charge" while they were doing it...


I still get it back... upon demand.

While they can't be expected to cover a "run on the banks", they should have plenty of cash on hand to cover a large withdrawal by any depositor.

 

[Mongo59]

Basically, this is just another form of pre-crime. Isn't it?

Just the usual 'guilty until proven innocent'...