Biden is checking bank accounts that's over $600?

[88m3]

that's not relevant to them talking about this is to help tax high income earners, they're lying. this aint about criminals either, simply isn't a big enough demo to be targeting with this. but continue to do mental gymnastics...

that's like your opinion, mam

 

[Hood Critic]

i didn't say they would, i was refuting your claim about this being about tracking unusual activity - it's not. it's tracking unreported money - making it easy to find people who have cash income, cash incomes aren't usually found amongst high income earners as the WH wants to position it. this provision makes it easier to target low-middle income folk...$600 is a low as hell threshold to be tracking accounts at

Its only to track annual deposits and withdrawals from loans, banking and investment accounts.

Most middle-class to low income people aren't reporting their yearly income to be $40K but have several hundred thousands of dollars moving through their accounts. You all are getting lost in the $600 threshold while not understanding the totality of what is being proposed.

 

[dora_da_destroyer]

Its only to track annual deposits and withdrawals from loans, banking and investment accounts.

Most middle-class to low income people aren't reporting their yearly income to be $40K but have several hundred thousands of dollars moving through their accounts. You all are getting lost in the $600 threshold while not understanding the totality of what is being proposed.

that’s entirely my point. People with hundreds of thousands are dealing with balances well over $600 and/or dealing in multiple accounts. Feel free to track them/that, but I’m not sorry if the IRS’s history of disproportionately auditing low to middle income people raises the flag for me that this will be used to easily identify unreported cash income - which is common - for this bracket

 

[jilla82]

this is one of those things where I dont get how some of yall are cool with it.

This shyt really hits normal ass people.

I mean...if youre really 'pro black' I would imagine you would want policies that make it easier for black businesses to thrive

 

[CrimsonTider]

this is one of those things where I dont get how some of yall are cool with it.

This shyt really hits normal ass people.

I mean...if youre really 'pro black' I would imagine you would want policies that make it easier for black businesses to thrive

How does this affect normal people

 

[eastside313]

How does this affect normal people

Johnny has a job. Johnny also cuts hair on the side to make ends meet. Now Johnny can potentially have to pay taxes on his side hustle.

 

[CrimsonTider]

Johnny has a job. Johnny also cuts hair on the side to make ends meet. Now Johnny can potentially have to pay taxes on his side hustle.

That has been the law since the beginning of time

and if Johnny is making ends meet then he really doesn’t pay taxes because he gets it back when he files his return

 

[Pressure]

this is one of those things where I dont get how some of yall are cool with it.

This shyt really hits normal ass people.

I mean...if youre really 'pro black' I would imagine you would want policies that make it easier for black businesses to thrive

I say this as a black business owner.


WHAT?

 

[dora_da_destroyer]

That has been the law since the beginning of time

and if Johnny is making ends meet then he really doesn’t pay taxes because he gets it back when he files his return

 

[eastside313]

That has been the law since the beginning of time

and if Johnny is making ends meet then he really doesn’t pay taxes because he gets it back when he files his return

Everybody don’t get large tax returns sir. Especially if they have to start introducing another 20-30-40k in income. That would take johnny to a whole new tax bracket.

just say you ok with whatever the Democrats do. Y’all done turned political discussions into Stan wars.

 

[Godless Socialist CEO]

It's always fun playing Spot the "Libertarian" in these threads

 

[CrimsonTider]

61% of people paid no income tax in 2020

If you’re not in the top 20% of earners you get the taxes withheld back when you file your taxes.

Everybody don’t get large tax returns sir. Especially if they have to start introducing another 20-30-40k in income. That would take johnny to a whole new tax bracket.

just say you ok with whatever the Democrats do. Y’all done turned political discussions into Stan wars.

So are you saying that Johnny shouldn’t pay income taxes on his income?

 

[Hood Critic]

I say this as a black business owner.


WHAT?

This sh*t has turned into pure comedy. People really in here mad because they think the IRS didn't know about the side money they been running through their accounts.

 

[eastside313]

61% of people paid no income tax in 2020

If you’re not in the top 20% of earners you get the taxes withheld back when you file your taxes.

So are you saying that Johnny shouldn’t pay income taxes on
his income?

I’m saying those side hustles and small Time businesses are how some people eat. And the government stepping in trying to get a cut is poppycock and can fukk a lot of people lives up.

Stop claiming y’all going after the rich people but wanna set your threshold at $600. Set that chit at 100k if you really going after rich people. Close them damn
Loopholes that allow them to not pay taxes.

i voted for biden and ive only ever voted democrat. But i can still objectively call out bull chit when i see it. You in here making a case that the grandma selling food out her kitchen to pay her bills need to pay taxes on it. The old man that been fixing cars in his backyard to get by, you want him taxed on ever brake job.


If trump was in office proposing this y’all woulda had a heart attack.

 

[Pressure]

I’m saying those side hustles and small Time businesses are how some people eat. And the government stepping in trying to get a cut is poppycock and can fukk a lot of people lives up.

Stop claiming y’all going after the rich people but wanna set your threshold at $600. Set that chit at 100k if you really going after rich people.

i voted for biden and ive only ever voted democrat. But i can still objectively call out bull chit when i see it. You in here making a case that the grandma selling food out her kitchen to pay her bills need to pay taxes on it. The old man that been fixing cars in his backyard to get by, you want him taxed on ever brake job.


If trump was in office proposing this y’all woulda had a heart attack.

So you have a problem with paying taxes?

Just say it. No need to wax poetic about it.