IWantToSeeMountainsAgain
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There’s so much misinformation here in just 4 sentences. It feels like a full time job trying to keep friends and family informed, and aware of how much propaganda is being fed to them.
ShaunSchaf
but but but BIG BIRD PROPAGANDA
ThatRaccoonGuy
It IS a full time job. All it takes is a stupid meme to give them a bad idea, then it takes hours of explaining why the meme is a lie.
IWantToSeeMountainsAgain
My circle of people to try and keep informed keeps getting smaller. I don’t have the energy anymore.
Tokomek
They did try to get everyone's bank transactions reported to the IRS and only got stopped due to the public attention.
DamnedAustin
Factually wrong. You should look into these things before deep-throating right-wing propaganda.
Tokomek
Everyone in the US is likely to have transactions over $600. This targeting everyone for the data scrape.
DamnedAustin
It's not tracking transactions of $600. It's asking for a net difference in accounts that have upwards of $600. This data wouldn't (1)
DamnedAustin
include ANY information on specific transactions. It's a way to ensure income is being accurately reported. (2/2)
Orzufancylad
But, thank you for being an example of what the OP is trying to show.
Tokomek
Notification of inflows and outflows exceeding $600 is what they proposed. That's effectively everyones accounts in the US.
Tokomek
The official wording was anytime something triggers a $600 difference in the account it would be reported. Ask yourself who that targets.
BlueBarnstormer
Reporting a transaction and having access to an account are not even close to the same thing.
Tokomek
Cool. Didn't say access.
Orzufancylad
Incorrect. Technically they only wanted banks to report multiple transactions of over 600$ at a time. Not "everyones".
Tokomek
Which is nearly everyone's account of not everyone's account ar some point during the year. And a stupidly low number to target millionairs.
BlueBarnstormer
You do multiple transactions of 600 at a time? Must be nice....
Tokomek
Not at a time. ANY time there was a 600 dollar change to an account.
BlueBarnstormer
Wrong.
Orzufancylad
No, not it isn't. Dozens of transfers in or out of your account, each totaling more than 600$ at a time? No, not normal.
Tokomek
https://katv.com/news/nation-world/irs-proposal-to-monitor-bank-accounts-with-600-sparks-backlash not what they tried.
Orzufancylad
Quote the BILL, not a news article.