President Biden says that 3,500,000,000,000 equals 0.

[scottw]

Originally Posted by wdmso

Wow nice rant Q THANKS!

Deposits or withdrawalsOver $10,000

Are reported not 600

Please get informed

Posted from my iPhone/Mobile device

it's coming...apparently you are not informed

Yes, under Biden's proposal the IRS could have more access to your bank accounts
If you have at least $600 in your account, the IRS could end up monitoring your spending. It’s part of President Biden's proposed tax reform and is raising concerns.

NBC IRS would track all bank transactions over $600 under Biden plan
by Kenneth McGrathTuesday, September 28th 2021

MOBILE COUNTY, Ala. (WPMI) —

The administration wants the Internal Revenue Service to monitor every transaction you make of $600 or more, that’s a big change from the current 10,000 threshold. Meanwhile, Bloomberg.com reports that House Ways & Means Chairman Richard Neal said he and other democratic leaders are planning to set a threshold higher than the $600 proposed by the Biden administration.

[spence]

Originally Posted by scottw

The administration wants the Internal Revenue Service to monitor every transaction you make of $600 or more, that’s a big change from the current 10,000 threshold.

Not true.

[scottw]

Originally Posted by spence

Not true.

I think might be right...it's actually even worse

[wdmso]

Originally Posted by scottw

it's coming...apparently you are not informed

Yes, under Biden's proposal the IRS could have more access to your bank accounts
If you have at least $600 in your account, the IRS could end up monitoring your spending. It’s part of President Biden's proposed tax reform and is raising concerns.

NBC IRS would track all bank transactions over $600 under Biden plan
by Kenneth McGrathTuesday, September 28th 2021

MOBILE COUNTY, Ala. (WPMI) —

The administration wants the Internal Revenue Service to monitor every transaction you make of $600 or more, that’s a big change from the current 10,000 threshold. Meanwhile, Bloomberg.com reports that House Ways & Means Chairman Richard Neal said he and other democratic leaders are planning to set a threshold higher than the $600 proposed by the Biden administration.

Wants? is that your bases on facts what people want? Not what actually exists…. You seem focused on feeling not actually Facts it’s not all that surprising


The great American tax haven: why the super-rich love South Dakota

last year, as the Chinese government prepared to enact tough new tax rules, the billionaire Sun Hongbin quietly transferred $4.5bn worth of shares in his Chinese real estate firm to a company on a street corner in Sioux Falls, South Dakota, one of the least populated and least known states in the US. Sioux Falls is a pleasant city of 180,000 people, situated where the Big Sioux River tumbles off a red granite cliff. It has some decent bars downtown, and a charming array of sculptures dotting the streets, but there doesn’t seem to be much to attract a Chinese multi-billionaire. It’s a town that even few Americans have been to.

The money of the world’s mega-wealthy, though, is heading there in ever-larger volumes. In the past decade, hundreds of billions of dollars have poured out of traditional offshore jurisdictions such as Switzerland and Jersey, and into a small number of American states: Delaware, Nevada, Wyoming – and, above all, South Dakota. “To some, South Dakota is a ‘fly-over’ state,” the chief justice of the state’s supreme court said in a speech to the legislature in January. “While many people may find a way to ‘fly over’ South Dakota, somehow their dollars find a way to land here.”

But spending 3.5 bill over 10 years is suddenly outrageous
the Department of Defense's discretionary budget authority is approximately $705.39 billion ($705,390,000,000). Mandatory spending of $10.77 billion, the Department of Energy and defense-related spending of $37.335 billion added up to the total FY2021 Defense budget of $753.5 billion.

Republicans love to say American 1st but only if that money goes to their donors .. not to helping actual Americans
Posted from my iPhone/Mobile device

[Jim in CT]

Originally Posted by wdmso

Wants? is that your bases on facts what people want? Not what actually exists…. You seem focused on feeling not actually Facts it’s not all that surprising


The great American tax haven: why the super-rich love South Dakota

last year, as the Chinese government prepared to enact tough new tax rules, the billionaire Sun Hongbin quietly transferred $4.5bn worth of shares in his Chinese real estate firm to a company on a street corner in Sioux Falls, South Dakota, one of the least populated and least known states in the US. Sioux Falls is a pleasant city of 180,000 people, situated where the Big Sioux River tumbles off a red granite cliff. It has some decent bars downtown, and a charming array of sculptures dotting the streets, but there doesn’t seem to be much to attract a Chinese multi-billionaire. It’s a town that even few Americans have been to.

The money of the world’s mega-wealthy, though, is heading there in ever-larger volumes. In the past decade, hundreds of billions of dollars have poured out of traditional offshore jurisdictions such as Switzerland and Jersey, and into a small number of American states: Delaware, Nevada, Wyoming – and, above all, South Dakota. “To some, South Dakota is a ‘fly-over’ state,” the chief justice of the state’s supreme court said in a speech to the legislature in January. “While many people may find a way to ‘fly over’ South Dakota, somehow their dollars find a way to land here.”

But spending 3.5 bill over 10 years is suddenly outrageous
the Department of Defense's discretionary budget authority is approximately $705.39 billion ($705,390,000,000). Mandatory spending of $10.77 billion, the Department of Energy and defense-related spending of $37.335 billion added up to the total FY2021 Defense budget of $753.5 billion.

Republicans love to say American 1st but only if that money goes to their donors .. not to helping actual Americans
Posted from my iPhone/Mobile device

Please try to answer this question...

why should you care if a Chinese billionaire (unless he's a criminal) puts his money in a South Dakota bank?

See if you can follow...

In order for banks to make loans, they need to have deposits. Generally speaking, it's good for banks to have people deposit money with them.

Every post of yours is a direct assault on economic reality.

[Jim in CT]

Originally Posted by wdmso

Republicans love to say American 1st but only if that money goes to their donors .. not to helping actual Americans
Posted from my iPhone/Mobile device

Oh. But when democrats propose tax credits to cars that are made at union shops, when those credits don't apply to non-union shops...that's NOT democrats giving money to their donors? That's not democrats rewarding unions for campaign contributions?

Are you saying that people who make cars for TESLA aren't "actual Americans"? People who work at Ford are more American than people who work for TESLA?

I would love to see your response to THAT.