Love ya Nancy….
But this is definitely NOT something I would like to see happen….
Actually if I could vote for you and this came to be?
You would lose my vote….
(And Biden might also)
I actually do NOT see this going any place even if they raise the trigger to a million dollars….
So Pelosi and Biden would get a pass on this assine proposal….
Speaker Nancy Pelosi (D-Calif.) on Tuesday defended a proposal to increase the amount of information financial institutions report to the IRS about bank accounts, indicating the proposal would be a part of Democrats’ social-spending package.
Pelosi’s comments come as Republican lawmakers and banking groups have been increasing their criticism of the proposal in recent days….
…
The Biden administration has proposed requiring banks to report aggregate inflows and outflows of bank accounts in annual forms to the IRS, in instances where accounts have flows exceeding $600….
…
The administration has said that the proposal would strengthen the IRS’s ability to crack down on wealthy tax cheats. The Treasury Department has estimated the measure would raise about $460 billion over 10 years that could be used to help offset the cost of new spending aimed at strengthening the social safety net.
Republicans and banks strongly oppose the proposal, arguing that it raises privacy concerns. Banks say their advocacy efforts against the proposal has resulted in an inundation of customer complaints about the idea, The New York Times reported….
Banks and their trade groups are running advertising and letter-writing campaigns to raise awareness — and concern — about the proposal. As a result, banks from Denver to Philadelphia say they are being deluged with calls, emails and in-person complaints from both savers and small-business owners worried about the proposal. JPMorgan Chase & Company has issued talking points to bank tellers on what to tell angry customers who call or come into a branch to complain.
“We have heard a lot from our customers about their concerns about their privacy,” said Jill Castilla, the chief executive of the one-branch Citizens Bank of Edmond, just outside Oklahoma City. “I’ve gotten calls, emails, and then we’ve had many customers come in.”…
…
But the pushback is putting pressure on the Biden administration to scale back the proposal. Lawmakers are discussing raising the required disclosure level to $10,000 rather than $600, a Treasury official said, and making taxpayers who are paid through payroll-processing companies exempt from the required reporting. The Treasury estimates that could reduce the amount of money it could recoup to between $200 billion and $250 billion over a decade.
The outcry over the proposed measures stems in large part from a carefully planned lobbying campaign by the banking industry, which has spent months raising awareness and opposition to the plan in cities and towns across the country.
Banks say the reporting requirements would raise their costs and put them in the unenviable position of handing customer information over to the I.R.S….
I’m all in favor of this.
What are you worried about?
I always figured you were a tax cheat.
Pay your taxes James !
First he needs to get vaccinated and stop putting others at risk. If everyone was vaccinated many of the “problems” this country is currently experiencing would disappear.
I agree Jack, people hid their money like Mitt Romney has always done.
One recent piece of good news that I assume alluded Mr. Gloom was the fact that the IRS has taken in record revenue. We’re on track to give our government four trillion dollars this year.
What does that say about our economy.
Gonna be interesting to see how long this banks reporting your stuff amendment lasts….
I give it virtually NO chance of survival…..
I guess u two LOVE to pay ur taxes and would gladly volunteer to pay even MORE!
Hey?
It’s u guys money you want to fork over….
Knock urselves out😆….
Oh STFU and pay your taxes!
Damn tax cheat!
Yes, he needs to pay his taxes, buy an electric car, and get vaccinated. Everyday James proves that deep down he is simply a Republican who is afraid of change.
Thanks Jack….
Real babyish again?
He, he, he
Ya just make me smile
And shake my head….
I treat you like you deserve to be treated.
You’re a whiner James,a trait you share with a goodly portion of the American people I might add.
Most of what you call “babyish” is simply a sarcastic response by me to your general silliness.
What’s amusing, is you’re too dense to understand the sarcasm.
Democrats are facing a firestorm of criticism over a proposal to increase the amount of bank account information reported to the IRS, posing a challenge as they craft their wide-ranging social spending bill….
…
… those who have been critical of the proposed bank-reporting requirement are predicting that a proposal resembling the administration’s plan will not be included in the spending bill….
More…
James repeatedly has indicated that he enjoys his conversations with Jack. Interestingly, he doesn’t ever make that comment about anyone else.
Jack can be sarcastic to James without James even realizing that he is being insulted. That is quite an admirable skill on Jack’s part.
Oh i do realize
Z?
What would Jack and cheering section do if me and him didn’t go back and forth and u guy’s couldn’t repeat ‘Jack is right?’
He’s up front
He says he’s here to mess with me
I accept that
When i get over on him?
He simply slinks away…….
I’m here about content
Be it right or wrong
Obviously some people here are not aways about that
I try to get things back on track
It works for some
For others?
Not so much
It IS the way of blogs
Anyways?
The NY Giants STILL suck!
Bill Clinton has been released from the hospital…..
He had a infection….
I don’t think it is my imagination when I say that the Green Bay Packers win too many games by bad officiating calls. This game, the officials missed a blatant neutral zone infraction by the Packers, missed the Bears QB clearly call a time out, and did not penalize Rogers for a flagrant taunt “I still own you”. I am not one to feel my team gets disproportionate bad calls, but when poor calls are made, the Packers usually seem to be the beneficiaries – regardless who the Packers are playing.
the Chicago Bulls during the Jordan era also seemed to be the beneficiary usually of bad calls. The Bulls would have still won their championships, but maybe by fewer points.
It would seem to me the ref’s or empires DO give some ‘Special’ athletes slightly more leeway then others ….
They are human after all and their sports need them to excel…..
That said?
Call’s often go both ways during game and ref’s are told to clamp down or let things go one might guess sometimes….
Bottom line?
Ya play ur game despite the ‘calls’….
Maybe Rogers could ben persuaded to finish Josh his career with the NY Giants if they over him a boat load of money?
Probably Not….
I would post a response but confronted with the intellect above?
There is nothing to do by hang my head and “slink away.”
I do not recall you ever getting the best of Jack, or for that matter anyone else (other than Manila once or twice years ago). I recall you claiming you got the best of Jack. Often you try to get out of trouble by asking Jack some unrelated question. I don’t fully understand your strategy because you come off as trying to obfuscate the issue. you are not fooling anyone here.
James, surely you know It is not “different points of views” that draws the vast majority of the criticism towards you. Why pretend that is the problem?
He, he, he….
Of course I forget ….
It’s Jack is Right…..
Right?
Because some posters ocassionally agree with me ,James is pouting.It seems their use of of the term “Jack Is Right” drives him to distraction.Indeed, he seems obsessed with it.
And then the lying starts.
He claims I never admit when I’m wrong.Notice he gives no examples.Then there is the question of what he even means by wrong?That my “opinion” is wrong?Thats goofy.Everyone is entitled to an opinion.It can be criticized and disagreed with but that doesn’t make it wrong.
So it must be actual facts.Ive been wrong on a few over the years but, and everyone here knows it, none of us,me included ,comes anywhere near him.Indeed it seems several times a week DSD ,mainly, has to correct an out and out fabrication by him of historical facts.
Then he implies that I ,and maybe others ,engage in personal attacks on him.We criticize his opinions the majority of which are generally weird and off the wall so to speak .He says he doesn’t want it about him,yet when one editorializes,one has to expect pushback.Our comments are the equivalent of “letters to the editor “ in a newspaper..
James is essentially a whiner.Hes invented a role for himself as lecturer here.He reminds us constantly it’s his site and indeed it is.He invites us here to comment and when those comments are adverse to him?
He starts whining.(and lying).
He deserves all the criticism he gets here,He brings it all on himself.
Perhaps though this whole mishmash of essentially useless rambling on the this subject by him can be summed up in the old adage?..
If you can’t stand the heat,get out of the kitchen.
Update on the crazy assed idea on Bank’s reporting on people bank account moves of $600 or more…
The idea is beating fast retreat…
The amount has been bumped up too $10,000 and there are doubts that idea will make the final cut….
Banks’s already notify the IRS if you move more than $10,000 in cash…
…
Senate Democrats on Tuesday will unveil a scaled-back version of a Biden administration proposal to crack down on wealthy tax cheats after conservative groups and the bank industry raised major privacy concerns, three people with knowledge of the coming announcement said.
Initially, the Department of Treasury and Senate Democrats had proposed requiring financial institutions to provide the Internal Revenue Service with additional information on bank accounts with more than $600 in annual deposits or withdrawals.
After a backlash, the new proposal will instead require the provision of additional information for accounts with more than $10,000 in annual deposits or withdrawals, a measure Democrats have been considering for weeks but have not formally endorsed, the people said…
…
“I don’t know why they thought $600 would be a good number. $10,000 is definitely an improvement,” said John Koskinen, who served as commissioner of the IRS under both President Barack Obama and President Donald Trump. Koskinen said the threshold should be raised even higher to a number like $50,000. “The vast majority of people won’t be affected, but it will pick up more than just the idle rich.”
Democratic aides in both the House and Senate are still skeptical whether the bank reporting requirement will be included in the final version of Biden’s Build Back Better package, even with the changes….
More…
Just for the record, I never said “jack is right” if I didn’t believe it. And every time I praised or criticized you, I thought you deserved it!
Glad to hear ur not in the ‘Jack is Right’ all the time club…..,
He IS smart guy……
But like the rest of us he isn’t ALWAYS right….
And seldom admits he’s wrong
But it’s ok…..
I appreciate ur praise and i also give U props here on things…..
Again
I’m here to have fun and talk things thru
Not just go after people ….
‘Different Strokes for Different Folks’
And we should be able to tolerate different points of view…..
With out getting personal
I sure wish people would concentrate on the issues instead of it all being about me!
And he deserves it Zreebs.
The NYTimes completely mischaracterized the plan to report bank activities. In fact, they really got the wrong end of the stick.
The plan was always for large transactions. So all the pearl clutching was just that. Trillions of dollars are hidden from the IRS every year (let’s ask Mitt Romney) and, if collected, they can be used to finance the Build Back Better program.
Keith?
The ORIGINAL plan was for $600….
It plainly states THAT in almost every media report…..
That threshold was completely ridiculous …
They are trying to salvage the idea….
Give the IRS money for its workers to do their job….
Write legislation to get rid of situations where Donald Trump gets a $75 Million REFUND while making MILLIONS…
Write legislation that stops at least 55 companies that shelter profits that u and I have to pay taxes for after they get refunds/rebates….
In 2017 Republicans rowing together got over….
Now?
Democrats roll out a fucking idea to report on $600 traction’s while the rich and big business laugh at some Democrats stupidly….
I told ya so….
Senator Joe Manchin, a crucial swing vote in the chamber, said he opposes a Democratic measure requiring banks to report deposits and withdrawals of some accounts to the IRS to help find tax cheats
And the “usual suspect” pats himself on the back for stating the obvious.
He, he, he
I try to pat myself as much as u do Jack……
We shouldn’t agree too much here
It’ll spoil things…..
You told us so? James told us repeatedly that Manchin wouldn’t be a problem in pushing the Democratic agenda. James was wrong of course. And now he points out that Manchin continues to oppose the Democratic agenda even though he said Manchin would be a big Biden ally. So he wants to find something – even if it is minor – to suggest he knows what he is taking about. Of course James Never said Manchin would oppose efforts to catch tax cheats (James is vehemently opposed to going after tax cheats for obvious reasons) yet he has the nerve to lie again and says he told us so!
I don’t know anyone interested in politics who is more often wrong than James. Here is where James changes the subject and writes that he actually understands what he reads and is knowledge able about politics.
James, none of us enjoys your campaign to provide misinformation. You accuse others of practicing what you do, but the truth is you are the only liar here. And we are so tired of you.
Z?
I said repeatedly that the $600 IRS bank reporting wet dream was JUST THAT…..
I assine idea that should have never seen the light of day…..
Debates her the morphed into me and my taxes
Made no difference…
The idea is destined to be dropped just like predicted….