All Credit Card Transactions Will Now Be Reported to the IRS

[rapidtrends]

http://www.rapidtrends.com/blog/200...ard-transactions-will-be-reported-to-the-irs/

 

[Chris_Augustine]

Cash, it's actually your best friend this side of gold. Cash is private. Even though the legislation is only for merchant receipts it will be no time before the IRS starts mining user data to weed out the little people.

 

[Mister Grieves]

Finally, slipped in towards the bottom of the 600 page document, is that all credit card transactions will now be reported to the IRS.

Wow. That's total bullshit. Not a single peep about that from one major news agency and all you'd hear back anyways from your average sheeple is "What do I care, I have nothing to hide."

Things have gotten out of hand.

 

[votefreedomfirst]

ITSM that this is a precursor to an internet sales tax...once they have the bureaucratic framework in place it’s just a matter of time.

 

[Dr.3D]

Ron Paul on the Housing Bill 7/23/08 - "The Mother of All Bailouts" [video]

Wow. That's total bullshit. Not a single peep about that from one major news agency and all you'd hear back anyways from your average sheeple is "What do I care, I have nothing to hide."

Things have gotten out of hand.

This is a duplicate of posting I made in the Fannie, Freddie Rescue May Cost Taxpayers $25 Billion, CBO Says thread.


http://www.youtube.com/watch?v=Wy6SlUpbnIU

http://news.goldseek.com/RonPaul/1216926862.php

Details of today’s housing bill by Dr. Ron Paul:
- $2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”
o UNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities
o Congress no longer involved in appropriating funds (Treasury now does)
- National Debt Ceiling Moved up $800 BILLION (buried in the bill)
- Treasury Bills being exchanged for unwanted ‘F & F’ securities
o This is the asset which “backs up our currency”
o Value of these assets are depreciating
o Treasuries have replaced gold and silver to back US Dollar
- Solution breeds inflation
o Places pressure on the US Dollar
- Mortgage industry workers “will now have to be fingerprinted.”
- All credit card transactions will now be reported to the IRS.

 

[d991]

Wow. That's total bullshit. Not a single peep about that from one major news agency and all you'd hear back anyways from your average sheeple is "What do I care, I have nothing to hide."

Things have gotten out of hand.

I hate the "I have nothing to hide" response from people for things like this. It's absolutely sickening to me that they don't mind a large breach of their privacy for perceived "safety".

 

[LibertyEagle]

I hate the "I have nothing to hide" response from people for things like this. It's absolutely sickening to me that they don't mind a large breach of their privacy for perceived "safety".

I hear ya. It's absolutely unbelievable.

 

[amy31416]

Nothing but cash purchases from now on if I can help it. I'm tempted to simply get rid of my bank account as well. That could be an interesting challenge.

I wonder if those credit cards that you can buy and put money on have your name associated with it--anyone ever used one of those things?

 

[SnappleLlama]

I'm speechless. I use my card for everything because I hate carrying large amounts of cash...this is unbelievable!

 

[Danke]

Nothing but cash purchases from now on if I can help it. I'm tempted to simply get rid of my bank account as well. That could be an interesting challenge.

I wonder if those credit cards that you can buy and put money on have your name associated with it--anyone ever used one of those things?

I know a guy who pays only with cash and money orders. Seems pretty inconvenient to me.

 

[acptulsa]

They very much want us plastic-dependant so they can have ultimate control. They won't be happy until they're charging both buyer and seller tax on garage sale transactions. Besides, it's handy for the war on drugs.

Sometimes I wonder if the spike in muggings in New York City back in the 'seventies wasn't staged to some degree just to promote this agenda... Anyway, identity theft is much more common these days than muggings.

 

[acptulsa]

I know a guy who pays only with cash and money orders. Seems pretty inconvenient to me.

I was this way until recently (damn job won't cut me a check--no direct deposit, no pay!) Not as inconvenient as trying to get your balance straightened out or closing your credit card account because it's being abused by someone.

 

[TheSkeptic]

Nothing but cash purchases from now on if I can help it. I'm tempted to simply get rid of my bank account as well. That could be an interesting challenge.

I wonder if those credit cards that you can buy and put money on have your name associated with it--anyone ever used one of those things?

I have regular bank accounts as well, but use these all the time. Some of them can be associated with your name, but you don't have to give any absolute identifiers like SSN or birthdate.

 

[amy31416]

I know a guy who pays only with cash and money orders. Seems pretty inconvenient to me.

Inconvenient sure. But what price for your privacy?

I have regular bank accounts as well, but use these all the time. Some of them can be associated with your name, but you don't have to give any absolute identifiers like SSN or birthdate.

I figure that would be a better option for those things that one needs a credit card for. I'll still keep one real credit card for emergencies, but I think this may be a better option than a debit card/credit card transaction.

Another question: Does anyone know if debit card transactions would also be reported the same way? After all, they do have the Visa/MC logo. My bank promotes using as a CC rather than debit for whatever reason.

 

[acptulsa]

Another question: Does anyone know if debit card transactions would also be reported the same way? After all, they do have the Visa/MC logo. My bank promotes using as a CC rather than debit for whatever reason.

I'd be willing to give very favorable odds on a wager that they do, indeed, require debit card transactions to be reported as well. And your bank is interested in interest.

 

[muh_roads]

So much for being able to utilize the Gold Savings Account & Silver Savings Account plans thru Anglo Far-East, 'eh rapidtrends?


EDIT: Sorry if this comes off as stupid, but are wire transfers reported to the IRS?

 

[amy31416]

I'd be willing to give very favorable odds on a wager that they do, indeed, require debit card transactions to be reported as well. And your bank is interested in interest.

I'm pretty sure you're probably correct on that. All of this government snooping makes me want to screw with them somehow so the majority of the data they get is nonsensical and they won't be able to make heads or tails of it.

 

[Cowlesy]

So much for being able to utilize the Gold Savings Account & Silver Savings Account plans thru Anglo Far-East, 'eh rapidtrends?


EDIT: Sorry if this comes off as stupid, but are wire transfers reported to the IRS?

Certainly --- well, depends on the size. Bradley in DC runs a think-tank about financial privacy --- he's the expert in that field.

 

[yongrel]

Goddammit.

 

[ShowMeLiberty]

Anyone else notice the propaganda that's been building up for this for some time now? Stuff like this YouTube (http://www.youtube.com/watch?v=9hXmyD9a4zg) for Visa check cards.