Whats going on in the World

Rick67 said:
Double standards.
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An officer who shot and killed a woman during the Jan. 6 insurrection at the U.S. Capitol as she began to climb through the broken part of a door leading into an area known as the Speaker’s Lobby acted lawfully and in line with police department policy, the U.S. Capitol Police said Monday.

NEW WHITE ORDER

How many would have been shot if they were black insurrectionists?
 
movetheboat said:
An officer who shot and killed a woman during the Jan. 6 insurrection at the U.S. Capitol as she began to climb through the broken part of a door leading into an area known as the Speaker’s Lobby acted lawfully and in line with police department policy, the U.S. Capitol Police said Monday.

NEW WHITE ORDER

How many would have been shot if they were black insurrectionists?
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When are the anti-police riots going to start because somebody got killed by police who were "just doing their job."

Oh wait, they won't. I think I need to burn something down and steal a TV. :rolleyes:
 
Progress in America! A new utopia!
 

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Rick67 said:
Wholesale bait tax cheats watch out!

Biden plan would give IRS more power to track $600 bank accounts: What you need to know
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Hey look!! Somebody really "Woke" and realized that was F-ing Stupid!!! Bet Lizzie W. is spitting bullets, poor thing...

Democrats will scale back a proposal to require banks to report balances to the I.R.S.​



By Alan Rappeport and Jonathan Weisman

WASHINGTON — The Biden administration, bowing to an aggressive lobbying campaign by the banking industry and pushback from Republicans, has agreed to support a far more limited plan for the Internal Revenue Service to try to crack down on tax cheats.

Senate Democrats are expected to roll out a new proposal on Tuesday that would narrow the scope of information that banks would have to provide to the Internal Revenue Service about customer accounts. Under the new plan, banks would only be required to provide data on accounts with total annual deposits or withdrawals worth more than $10,000, rather than the $600 threshold that was initially proposed. The reporting requirement would not apply to payroll deposits for wage and salary earners or to beneficiaries of federal programs such as Social Security.

The narrowing of the plan comes after a steady lobbying campaign by banks and a rhetorical barrage from Republicans, who argued that the Biden administration’s desire to bolster the I.R.S. to shrink the $7 trillion so-called “tax gap” amounts to an invasion of privacy and government overreach.

Critics of the proposal have incorrectly suggested that the I.R.S. would be tracking information about individual transactions. The administration has said the I.R.S. would not monitor specific customer transactions but would instead use the bank account information to spot discrepancies between what individuals report on their tax returns and what their bank accounts show.

The Biden administration insists that audit rates for those making less than $400,000 would not go up and that the program is focused on collecting unpaid taxes from the rich.
 
Roccus7 said:
Hey look!! Somebody really "Woke" and realized that was F-ing Stupid!!! Bet Lizzie W. is spitting bullets, poor thing...

Democrats will scale back a proposal to require banks to report balances to the I.R.S.​



By Alan Rappeport and Jonathan Weisman

WASHINGTON — The Biden administration, bowing to an aggressive lobbying campaign by the banking industry and pushback from Republicans, has agreed to support a far more limited plan for the Internal Revenue Service to try to crack down on tax cheats.

Senate Democrats are expected to roll out a new proposal on Tuesday that would narrow the scope of information that banks would have to provide to the Internal Revenue Service about customer accounts. Under the new plan, banks would only be required to provide data on accounts with total annual deposits or withdrawals worth more than $10,000, rather than the $600 threshold that was initially proposed. The reporting requirement would not apply to payroll deposits for wage and salary earners or to beneficiaries of federal programs such as Social Security.

The narrowing of the plan comes after a steady lobbying campaign by banks and a rhetorical barrage from Republicans, who argued that the Biden administration’s desire to bolster the I.R.S. to shrink the $7 trillion so-called “tax gap” amounts to an invasion of privacy and government overreach.

Critics of the proposal have incorrectly suggested that the I.R.S. would be tracking information about individual transactions.

The Biden administration insists that audit rates for those making less than $400,000 would not go up and that the program is focused on collecting unpaid taxes from the rich.
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Under the new plan, banks would only be required to provide data on accounts with total annual deposits or withdrawals worth more than $10,000, rather than the $600 threshold that was initially proposed. - So a small business has to be so small as to not have more than 10K deposited for the whole year???

The Biden administration insists that audit rates for those making less than $400,000 would not go up and that the program is focused on collecting unpaid taxes from the rich. - This is the absolute backbone of America - small businesses. So how do they make $200K without tripping the 10K annual deposit limit from above??

The administration has said the I.R.S. would not monitor specific customer transactions but would instead use the bank account information to spot discrepancies between what individuals report on their tax returns and what their bank accounts show. Small businesses, especially those reporting as sole proprietors tend to mingle funds being a small business. I said this in another post. Here come the audits ESPECIALLY for small businesses where owners earn less than 400K.

Where does the invasion of privacy end?
 
jpd said:
Zero cost!
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BS!

And wait until you see what the bank charges in "new bank charges" to comply with this if it passes, especially for smaller businesses where the annual deposits are not enough to lessen or keep bank charges in check. He keeps saying the same garbage, "no new taxes for those making less than $400K". All silent taxes. Keep a tally and add them up. It will shock you!!
 
longcast said:
Under the new plan, banks would only be required to provide data on accounts with total annual deposits or withdrawals worth more than $10,000, rather than the $600 threshold that was initially proposed. - So a small business has to be so small as to not have more than 10K deposited for the whole year???

The Biden administration insists that audit rates for those making less than $400,000 would not go up and that the program is focused on collecting unpaid taxes from the rich. - This is the absolute backbone of America - small businesses. So how do they make $200K without tripping the 10K annual deposit limit from above??

The administration has said the I.R.S. would not monitor specific customer transactions but would instead use the bank account information to spot discrepancies between what individuals report on their tax returns and what their bank accounts show. Small businesses, especially those reporting as sole proprietors tend to mingle funds being a small business. I said this in another post. Here come the audits ESPECIALLY for small businesses where owners earn less than 400K.

Where does the invasion of privacy end?
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Correct me if I'm wrong, but I thought any deposit of $10K or greater has been IRS fodder and reported to them for many years now. But now they're looking at an annual total, excluding pay check or Social Security deposits, still a problem if one moves money from savings to checking or vice versa.

Should have stayed with the the old system for sure...
 
Roccus7 said:
Correct me if I'm wrong, but I thought any deposit of $10K or greater has been IRS fodder and reported to them for many years now. But now they're looking at an annual total, excluding pay check or Social Security deposits, still a problem if one moves money from savings to checking or vice versa.

Should have stayed with the the old system for sure...
Click to expand...
FS-2019-1, February 2019 (IRS website)

Federal law requires a person to report cash transactions of more than $10,000 by filing IRS Form 8300 PDF, Report of Cash Payments Over $10,000 Received in a Trade or Business. The information on the form helps law enforcement combat money laundering, tax evasion, drug dealing, terrorist financing and other criminal activities.

Again, a reporting issues, NOT your bank providing total deposits etc to your account to the IRS.

But now they're looking at an annual total, excluding pay check or Social Security deposits, still a problem if one moves money from savings to checking or vice versa. - EXACTLY !!!!!

Business 1 - Business transaction/revenue = $1M
Matches tax return - Gross Revenues $1M

Bank Account - $1M in sales/services
$250K transfers MMA etc
$100K loan proceeds
Total deposits in BANK - $1.35M - Tax Return - $1M - Discrepancy - Letter in the mail!

And the number of small businesses around that country that fit this fact pattern is immense. Oh, and lots of these represent owners at the end of the day NETTING less than $400K for themselves. More audits - more fees to professionals to clean it up! Add this to the list of "silent taxes".
 
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It also applies to individual accounts. So if you take out more than 10K annually via ATM cuz you like to play the ponies.....or use the greenback as toilet paper, or juts prefer to pay in Cash......it will be reported.

This is part and parcel to the total control narrative that dovetails nicely with Covid mandates, digital currencies and the Great Reset. If one looks at all of the moving parts through a Wider Lense.
 
dsedy said:
It also applies to individual accounts. So if you take out more than 10K annually via ATM cuz you like to play the ponies.....or use the greenback as toilet paper, or juts prefer to pay in Cash......it will be reported.

This is part and parcel to the total control narrative that dovetails nicely with Covid mandates, digital currencies and the Great Reset. If one looks at all of the moving parts through a Wider Lense.
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Yes on the individual accounts. More on the deposit side, but once they are in - game on!
 
(CNN)Roughly 24 hours after the death of Colin Powell, Donald Trump proved, again, that he is utterly incapable of empathy, grace or even common decency.
"Wonderful to see Colin Powell, who made big mistakes on Iraq and famously, so-called weapons of mass destruction, be treated in death so beautifully by the Fake News Media," Trump said in a statement released Tuesday morning. "Hope that happens to me someday. He was a classic RINO, if even that, always being the first to attack other Republicans. He made plenty of mistakes, but anyway, may he rest in peace!"
"But anyway, may he rest in peace!" Yes, Trump really said that.
The gulf between Trump's statement and that of other former presidents on Powell's passing is simply massive.


"Laura and I are deeply saddened by the death of Colin Powell," said George W. Bush. "He was a great public servant, starting with his time as a soldier during Vietnam."
"General Powell was an exemplary soldier and an exemplary patriot," said Barack Obama. "He was at the center of some of the most consequential events of our lifetimes."

https://nyangler.com/javascript:void(0)
"He lived the promise of America, and spent a lifetime working to help our country, especially our young people, live up to its own ideals and noblest aspirations at home and around the world," said Bill Clinton.
What Trump's statement should remind us is that this is a man uniquely self-obsessed -- and without any ability to see beyond himself.

Powell was openly critical of Trump -- he voted for Hillary Clinton in 2016 and Joe Biden in 2020 -- and of the dark direction the billionaire businessman was leading the country. And so, Trump saw Powell's death as an opportunity to get back at him -- and took it.
This is, in a word, classless. In two words: Utterly classless.
It also puts to lie Trump's regularly repeated assertion that he loves the military more than any other president has ever loved the military.
Powell was an highly decorated soldier and served as chairman of the Joint Chiefs of Staff during the first Gulf War. While there's no question that his argument that Iraq possessed weapons of mass destruction as a way to justify the second war in Iraq was a stain on his legacy, it's just as clear that this is a man who gave the vast majority of his adult life to service to the country.
No one should be surprised by this latest degradation of what it means to be a president by Trump. He spent four years in office defining the job downward. That some people will applaud Trump's trolling of a dead man is, perhaps, his most toxic legacy.
 
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