Meanwhile in America

I think the language is in the budget reconciliation package they are fighting over, and $600 = rich?

It already passed the Senate. It's at the House now. If you would like to read some facts rather than hysterical blathering: https://www.usatoday.com/story/news/factcheck/2021/09/29/fact-check-post-treasury-tax-proposal-partly-false/8411799002/

That is an absurd comment. Isn't that the reason why you put your money in a bank? So they can monitor it? If they just threw all your money in a pile without any type of accountability would you put your money in the bank.

Monitoring your money is what banks have been doing ever since the first bank opened it's doors for business.

We expect a bank to do that. What we do not expect or even want is anyone else snooping into our business.

If it is the government trying to monitor your account then they are in direct violation of the 4th amendment. It does not matter what reason they give for doing so, it is a violation of the supreme law of the land.

I know. Anything you do with $600 is likely to be a crime? LoL ! What’s next? Cameras inside of every house in America to make sure no one breaks the law?

Can’t buy a used car or even an appliance fir that money.

No. The banks are not reporting every transaction to the IRS. The banks keep records, that’s it. The government has no right to freely access our bank records without a search warrant.

Sadly, you are laughably wrong. You can’t get transaction information without a search warrant, based on probable cause to believe a crime was committed.

Source:

https://www.investopedia.com/terms/s/suspicious-activity-report.asp

You forgot the punchline, chucklehead,,,

Thanks for playing!

I have not changed in my views. The world has changed around me. God dammit!

Thaheck do I care what your consider yourself to be in the mundane leaky postule of an existence you call your sad imitation of a life?
You're an invisible blip on the screen on the verge of an aneurysm because you can't deal with your own profoundly deep well of ignorance that you hang on to as if your silly constipated world depended on it.

Ironically, that's about as close as you get to having any worth - as an unnoticed grain of sand amongst tons of others that people with lives walk on.

cheers!

This is a report of suspicious activity. That would be something strange like structuring, which would be a dozen transactions for $9,999 or something along those lines. IT REQUIRES SUSPICION.

The new plan is to make it the law of the land that EVERY SINGLE $600 TRANSACTION IS SUSPICIOUS AND NOT ONLY THAT, IT MUST BE REPORTED TO THE IRS SO THAT THE IRS WILL INVESTIGATE EVERY SINGLE FINANCIAL TRANSACTION OVER $600.

I just bought a new built in oven range. It cost way more than $600. That should not trigger an investigation to make sure I’m not committing tax fraud. What next? They intercept the text messages I get from my oven telling me my pumpkin spice cookies are ready? As if that is relevant to taxes?

THE POINT IS IF YOU LIKE THE IDEA OF BEING UNDER CONSTANT IRS AUDIT, YOU DO NOT DESERVE TO LIVE IN AMERICA. I ASSUME YOU ARE NOT INFORMED ENOUGH TO KNOW THAT, AS A LEGAL MATTER, YOU ARE GUILTY UNTIL PROVEN INNOCENT IN IRS ENFORCEMENT ACTIONS.

So you are supporting the beginning of the end of what used to be called “FREEDOM.”

Where does it say that?
And where did you get the pile of hooey you're arguing against as if I said it?

Good grief, kid. Get a life. Get a brain.

- as if you'd know what to do with it.

*sits back in wait of another FULL CAPS engaged snowflake meltdown*

Spending $600 non cash at Home Depot is NOT the IRS’s business.

My bank was not giving my bank statement to the IRS each month. Thus is way more than reporting each transaction over $3000 cash.

All my bank did was tell the IRS of cash transactions over $3000. Now my bank will give the IRS my full monthly bank statement with each transaction,

Your bank was looking at all transactions and reporting any suspicious ones of any amount. It sounds like you're not a money launderer which is why you didn't know this, which brings us to the grand punchline in all this: this affects you not at all, even a little bit.

The banks do not have authority to report whatever they arbitrarily consider suspicious.

It's actually their obligation. They HAVE to.

Rephrase time: the government has no authority to dig into my personal records without a warrant a d probable cause that I am commuting a crime.

But they do, though. The government has had the authority to monitor financial records for quite some time now.