A new Senate bill will start forcing citizens to report cash and other assets not held in banks. This bill is stated to combat terrorism and money laundering. But is it? It seems to most like just another government attempt to steal assets and raise revenue for social programs as this bill will give the government the authority to track assets and seize them should an individual fail to report independently held assets exceeding $10,000.
This brings to mind the FBI raid under former FBI Director Comey of a small Texan Conservative political gathering back in 2015. Agents confiscated electronics and forcibly fingerprinted all 60 people gathered at the meeting. Now let’s just suppose for a second that they found any evidence of unreported wealth during the raid. You better believe they’d have seized-up all the assets. This is a very real possibility unfolding before us right now since the Senate just passed this bill.
The government is even going to start throwing people in prison if they find out folks haven’t been reporting ALL of their assets. How long would you guess the minimum federal sentence would be for failing to report assets not held in a back? Here is a hint. It’s about double the average time handed for 1st-time rape offenders. Find out more about this freedom infringing bill and how it gives the government the right to start wiretapping private citizens on the next page.
I *am* talking present day. Notice on this list the dates in the far right hand column.
https://www.fdic.gov/bank/individual/failed/banklist.html
As for barter networks, please be advised that these are great organizations to get involved with….if you like the IRS looking more closely into your finances as they think you are trying to dodge taxes.
As for the $10k reporting limit, that’s been on the books since I believe the 1980s or so, and is supposed to be targeted towards identifying drug dealers who will typically use cash for their large purchases.
However, that reporting requirement does not mean the transaction does not occur nor prohibit it in any way.
It is just a way for the government to flag someone potentially involved in illegal activity.
Doesn’t mean you won’t get a visit from the IRS…..but if you are not involved in illegal activity then a good lawyer helps at that point to protect your assets and pricing the money is from a legitimate source.
For years, cash has been tracked….every grocery shopping trip, I get enough cash to do laundry and pay my head holding tank pumpout service. The cash is itemized on the debit card payment receipt. Congress would do well to look into their own corruption instead of spying on us little citizens. Hopefully, the new administration will act on behalf of us and not the greedy politicians.
Did they exempt themselves from this also…becausethey are the biggest group of crooks in the US
OK…hehehehehehehehe…
Then the Senate need to report their STASHED CASH!
Yeah, ok.
F**k these people.$#%&!@*them all.
It’s another way to steal people’s money.
How about an act of goid faith, all members of Congress report theirs, including speaking commitments, and donations, and hidden offshore accounts holding lobbyists handouts to vote in the lobbyists best interests.
none of their business