People actually need to be told this? Jesus...

[Ben]

Also, cash is about to become a lot less anonymous under this if it goes through:

https://www.forbes.com/sites/irswatch/2021/04/28/banks-will-be-required-to-report-account-balances-account-outflows-and-inflows-to-irs-under-new-biden-plan/

My understanding is that a big part of that is the gov trying to do an end run around trusts and avoidance of the death tax, as a lot of people transfer assets via the non-taxable gift clause (currently a $12 mil lifetime exemption) while they are still alive. I expect a lot of people are going to be getting IRS audits in the next couple of years.

[T.O.M.]

There are some things I want to use cash for.  I want to use cash to buy a Pepsi from the gas station.  I want to use cash to buy a cheesesteak from the food truck out front of the courthouse.  Mainly, I want to use cash to buy ammo and accessories from my local gun shop.  Why?  First, he does a 5% discount for cash (since he doesn't have to pay the card fee).  And, it's none of my bank's business if I spend money at the gun store, and how much ammo I bought.

[K Frame]

More fun on the American Families Act....

Nothing like dangling this in front of the Indian Princess...

https://www.cnbc.com/2021/09/02/irs-chief-tells-elizabeth-warren-bank-data-can-help-fight-tax-evasion.html

[MechAg94]

1.  As long as they are taking a large percentage of people's income, there WILL be tax evasion. 

2.  Most tax evasion is done using legal loopholes that the Congresspeople themselves built into the tax code for themselves and their backers.

[Fly320s]

1.  As long as they are taking a large percentage of people's income, there WILL be tax evasion. 

2.  Most tax evasion is done using legal loopholes that the Congresspeople themselves built into the tax code for themselves and their backers.

Point of Order, You Honor.

If the method is legal, that is tax avoidance, not tax evasion.

[MechAg94]

Point of Order, You Honor.

If the method is legal, that is tax avoidance, not tax evasion.

It is also not for the serfs to worry their empty heads about.