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Author Topic: Biden Budget proposal and total financial tracking  (Read 802 times)

French G.

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Biden Budget proposal and total financial tracking
« on: September 12, 2021, 12:05:07 AM »

https://home.treasury.gov/system/files/131/General-Explanations-FY2022.pdf

Page 94
Every bank, every account, every paypal, zelle, whatever sends the government all your info every year. Trying to figure out how I can not comply and stay cash based, not going to be easy.
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bedlamite

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Re: Biden Budget proposal and total financial tracking
« Reply #1 on: September 12, 2021, 02:27:48 AM »

Might be time to get into crypto
Is defenestration possible through the overton window?

French G.

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Re: Biden Budget proposal and total financial tracking
« Reply #2 on: September 12, 2021, 03:01:40 AM »

Might be time to get into crypto

Says it right there, track buy/sell of that too.
AKA Navy Joe   

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Ben

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Re: Biden Budget proposal and total financial tracking
« Reply #3 on: September 12, 2021, 08:05:26 AM »

The only way I can see to stay cash based without tracking in that system is to get most of your cash before it goes into effect and stick it under your mattress. Pull out as needed for cash transactions. Live with the fact that you are essentially losing money by not having it invested.

I didn't read the full document. Is there any kind of threshold amount that gets you noticed? Like if $10K movement per month gets you audited, maybe $1000 per month keeps you under the radar.

This just seems like another road towards a cashless society.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

T.O.M.

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Re: Biden Budget proposal and total financial tracking
« Reply #4 on: September 12, 2021, 09:23:07 AM »

I'm starting to see some press on this, and hearing a lot of pissed off people from both sides of the political spectrum.  I don't know that, with his already falling support numbers, Biden has the stroke to pull this off.

That said, here's my plan.  It says transactions of $500 and more.  For us, that much money in a transaction isn't a daily thing, a weekly thing, or even a monthly thing (outside of our mortgage).  When it happens, it's usually something like a trip to the grocery store to restock the basement pantry, or fill the freezer.  A home repair or renovation.  Or, a gun purchase.  So, instead of reaching for my card to buy the gun stuff, I makes a few $250 withdrawals out of the ATM over a few days and go make the cash purchase.  Don't really care if DC knows I bought beans, rice, and soy sauce, or new decking boards for my deck.  I don't want them necessarily knowing I bought a couple of cases of 9mm.
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lee n. field

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Re: Biden Budget proposal and total financial tracking
« Reply #5 on: September 12, 2021, 01:56:54 PM »

Says it right there, track buy/sell of that too.

Unless you're working through an exchange (which will report), how are they going to track it?
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sumpnz

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Re: Biden Budget proposal and total financial tracking
« Reply #6 on: September 12, 2021, 03:58:00 PM »


I didn't read the full document. Is there any kind of threshold amount that gets you noticed? Like if $10K movement per month gets you audited, maybe $1000 per month keeps you under the radar.

$600 balance was what I read as the threshold.

230RN

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Re: Biden Budget proposal and total financial tracking
« Reply #7 on: September 12, 2021, 05:02:56 PM »

As they say, "1984" is their game plan, A through Z.

Roughly speaking, I think this one would bring us to about "M," but your estimate is as good as mine.

« Last Edit: September 12, 2021, 05:17:11 PM by 230RN »
There is no proof without evidence.
There is no evidence without investigation.
There is no investigation without suspicion.
Suspicion without proof is paranoid.

All nicely wrapped up, right?

Ben

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Re: Biden Budget proposal and total financial tracking
« Reply #8 on: September 12, 2021, 05:06:44 PM »

$600 balance was what I read as the threshold.

$600 BALANCE?!? A $600 transaction threshold would be bad enough, but if they are talking about snooping on anyone who has an over $600 balance, that is draconian.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

French G.

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Re: Biden Budget proposal and total financial tracking
« Reply #9 on: September 12, 2021, 05:20:34 PM »

$600 BALANCE?!? A $600 transaction threshold would be bad enough, but if they are talking about snooping on anyone who has an over $600 balance, that is draconian.

Uh, yeah. Not a per transaction report, year end on everything that happened in that account. But I am sure they will protect our data and only get the terrorists.
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230RN

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Re: Biden Budget proposal and total financial tracking
« Reply #10 on: September 12, 2021, 05:23:43 PM »

Ahh, but you see, they're planning on "compromising" on that, with the "compromising" on that dollar value lending legitimacy to the concept as a whole, with subsequent "compromises" ultimately leading right back to their ultimate goal.

Oh, you naïve  conservatives!  MMM-BWAH-HAH-ha-ha-hahhhhh....

         

Terry, 230RN

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« Last Edit: September 12, 2021, 05:36:16 PM by 230RN »
There is no proof without evidence.
There is no evidence without investigation.
There is no investigation without suspicion.
Suspicion without proof is paranoid.

All nicely wrapped up, right?

sumpnz

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Re: Biden Budget proposal and total financial tracking
« Reply #11 on: September 12, 2021, 05:51:17 PM »

$600 BALANCE?!? A $600 transaction threshold would be bad enough, but if they are talking about snooping on anyone who has an over $600 balance, that is draconian.

Yes.

Say goodbye to no-fee or interest bearing accounts.

kgbsquirrel

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Re: Biden Budget proposal and total financial tracking
« Reply #12 on: September 12, 2021, 06:16:32 PM »

The only way I can see to stay cash based without tracking in that system is to get most of your cash before it goes into effect and stick it under your mattress. Pull out as needed for cash transactions. Live with the fact that you are essentially losing money by not having it invested.

I didn't read the full document. Is there any kind of threshold amount that gets you noticed? Like if $10K movement per month gets you audited, maybe $1000 per month keeps you under the radar.

This just seems like another road towards a cashless society.

Cash is tracked to an extent with scanning of the serial numbers when they pass through banks and ATM's.

Welcome back to bartering.

T.O.M.

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Re: Biden Budget proposal and total financial tracking
« Reply #13 on: September 12, 2021, 07:53:52 PM »

Right now, off the top of my head, I'd say my wife and I have about half a dozen accounts that would fit this, not taking into account my pension account with the state, or accounts in the names of the boys.  Altogether, there are about a dozen related to our home.  Let's say that there are 10,000,000 similar homes in the US with, let's say 10 accounts per home.  That's 100,000,000 account reports being turned over to the feds.  Let's say that the records are turned over in digital form.  So, they run them through an algorithm, looking for flag terms.  They'll look for donations to causes they don't like, gun stuff, political activity...


Isn't this info that they are already getting from our internet and phone activity???
No, I'm not mtnbkr.  ;)

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Ben

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Re: Biden Budget proposal and total financial tracking
« Reply #14 on: September 12, 2021, 08:03:11 PM »

I heard talk that if this is implemented, it includes hiring a ton more IRS agents, and they plan on doing way more audits. They claim that as of now they should be doing some percentage (I can't remember what) more than they are.
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."

MechAg94

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Re: Biden Budget proposal and total financial tracking
« Reply #15 on: September 12, 2021, 09:44:00 PM »

I imagine at first this would be used to go after tax evaders.  After that, you would have to start explaining where money came from if you make a deposit.  Who knows after that.
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RocketMan

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Re: Biden Budget proposal and total financial tracking
« Reply #16 on: September 12, 2021, 10:07:20 PM »

I imagine at first this would be used to go after tax evaders.  After that, you would have to start explaining where money came from if you make a deposit.  Who knows after that.

I see lots of civil forfeitures occurring after a while.  The government will start claiming various funds came from suspicious sources.
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Nick1911

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Re: Biden Budget proposal and total financial tracking
« Reply #17 on: September 12, 2021, 10:16:26 PM »

I heard talk that if this is implemented, it includes hiring a ton more IRS agents, and they plan on doing way more audits. They claim that as of now they should be doing some percentage (I can't remember what) more than they are.

I figure this is 95% of the push.  Gotta squeeze as much money as they can out of the public.

Bogie

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Re: Biden Budget proposal and total financial tracking
« Reply #18 on: September 12, 2021, 10:34:07 PM »

Excuse to hire a LOT more government voters...
 
And you know that most of the ones who get hired are going to be racist haters.
 
There. I said it.
 
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French G.

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Re: Biden Budget proposal and total financial tracking
« Reply #19 on: September 12, 2021, 10:38:22 PM »

Definitely down for barter. My big thing is I don't need a lot of cash but every time a jar of honey, old junk vehicle or whatever gets sold that cash never sees a bank. Same with local farm work. If I get better off I will take 20K out of the bank and be sure to tell all the bank girls I am going to Atlantic city. And I will. Just with 30% of the money I withdrew. The majority of the time I will just live a good prole life. Weekly direct deposit, use my debit card, withdraw $200 a week for walking around money. Key change, spend $100 or less of that.
AKA Navy Joe   

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sumpnz

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Re: Biden Budget proposal and total financial tracking
« Reply #20 on: September 12, 2021, 10:52:27 PM »

Definitely down for barter. My big thing is I don't need a lot of cash but every time a jar of honey, old junk vehicle or whatever gets sold that cash never sees a bank. Same with local farm work. If I get better off I will take 20K out of the bank and be sure to tell all the bank girls I am going to Atlantic city. And I will. Just with 30% of the money I withdrew. The majority of the time I will just live a good prole life. Weekly direct deposit, use my debit card, withdraw $200 a week for walking around money. Key change, spend $100 or less of that.

That will get prosecuted as “structuring”, just like they do now for successive $9990 deposits.

French G.

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Re: Biden Budget proposal and total financial tracking
« Reply #21 on: September 12, 2021, 11:45:07 PM »

That will get prosecuted as “structuring”, just like they do now for successive $9990 deposits.

Meh, we all commit a felony or three everyday without knowing it. Toss on another. All about selective enforcement anyway, they cannot enforce all the laws and they know it. So make people live in fear and self enforce.
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zxcvbob

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Re: Biden Budget proposal and total financial tracking
« Reply #22 on: September 13, 2021, 12:07:05 AM »

That will get prosecuted as “structuring”, just like they do now for successive $9990 deposits.

Only if it's interesting enough to get noticed.  And they are trying to get you for something and that's all they got.
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kgbsquirrel

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Re: Biden Budget proposal and total financial tracking
« Reply #23 on: September 13, 2021, 01:48:04 AM »

Right now, off the top of my head, I'd say my wife and I have about half a dozen accounts that would fit this, not taking into account my pension account with the state, or accounts in the names of the boys.  Altogether, there are about a dozen related to our home.  Let's say that there are 10,000,000 similar homes in the US with, let's say 10 accounts per home.  That's 100,000,000 account reports being turned over to the feds.  Let's say that the records are turned over in digital form.  So, they run them through an algorithm, looking for flag terms.  They'll look for donations to causes they don't like, gun stuff, political activity...


Isn't this info that they are already getting from our internet and phone activity???

It is a 4th amendment violation for the government to collect this info itself.  The dodge is private corporations collect the info and then give or sell it to the government.

230RN

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Re: Biden Budget proposal and total financial tracking
« Reply #24 on: September 13, 2021, 05:29:32 AM »

I see lots of civil forfeitures occurring after a while.  The government will start claiming various funds came from suspicious sources.

Yes.

Wow.

Yes.
There is no proof without evidence.
There is no evidence without investigation.
There is no investigation without suspicion.
Suspicion without proof is paranoid.

All nicely wrapped up, right?
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