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by d33lio 1819 days ago
No thank you...

I still can't get over how people fail to realize that arbitrary thresholds for financial reporting (initially set in 1970 at $10k[0]) haven't been adjusted for inflation. To the point where in a not so distant future, settling up funds with friends at a large dinner could in certain cases be considered "structuring"[1]. You have access to all of my credit card records, basically everything I do online, figure it out.

The fed boys have more than enough info, but of course we should trust them with it to tax the rich... Full disclosure, we should definitely tax a-holes with billions in their Roth IRA.

0 - https://www.fdic.gov/regulations/safety/manual/section8-1.pd...

1 - https://www.investopedia.com/terms/m/moneylaundering.asp
2 comments
kingsuper20 1819 days ago
>friends at a large dinner.

You might as well jump straight to a conspiracy charge.

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tablespoon 1819 days ago
> To the point where in a not so distant future, settling up funds with friends at a large dinner could in certain cases be considered "structuring"[1].

That's a bonkers thing to fear, bordering on conspiracy theory. The feds aren't chomping at the bit so they can bust you and your friends for everyday behavior.

Now, that's not to say they might exploit it in a three-felonies-a-day sense to get someone they have their eye on for other reasons (a-la Al Capone and tax evasion), but if the law too often leads to unjust results, it will be changed. Especially if the unjust result is experienced by people with power and influence (and not just the poor and marginalized).

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Matticus_Rex 1819 days ago
> if the law too often leads to unjust results, it will be changed

The track record for that is unimpressive at best

> Especially if the unjust result is experienced by people with power and influence (and not just the poor and marginalized).

The track record for things working out that way is really, really bad

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quercusa 1819 days ago
> if the law too often leads to unjust results, it will be changed.

But since it will only be used against 'bad' people, no problem.

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kingsuper20 1819 days ago
Thank goodness governments have always had a reputation for just behaviors.

If you cut to the chase and give them unlimited powers all sorts of moral improvements will take place.

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