$600 Trigger

You’ve probably heard about the latest proposal that financial institutions be REQUIRED to turn over and report ALL bank or brokerage accounts to the IRS where the yearly transactions total more than $600. Assuming the account holder isn’t deceased, that would probably include every financial account in the USA held by every person or taxpaying entity.

This seems ludicrous and wastefully expensive when the supposed purpose of the bill is to ferret out unreported taxable income and capital gains of the “wealthy”. Apparently, someone at the IRS seems to think wealthy tax-evaders are hiding their assets in accounts where the yearly activity might hover just above $600.

The cost of this reporting wasn’t really explored in the proposal, and the privacy issues were actively scoffed at in public interviews of the Treasury Secretary and other administration folks.

Just trying to locate this particular provision is difficult because it is buried in the 107-page Dept. of the Treasury proposal which encompasses a broad variety of reforms and new proposals including a new top tier tax bracket and corporate tax percentages, “green energy” incentives, etc.

Most of the proposal seems to hover between leftist fluff and idiotic.

It is an example of the clustering of items that each deserve separate examination, public debate, and separate votes in Congress. Instead, we get a package which only the most steadfast tax-nerd could read through and understand or leastwise not fall asleep. If you would like to try to wade through it, here is the link.

Identify the Tanks

In Seattle

354 police personnel have refused to submit vaccination records by SPD’s deadline of October 5.

Interim Seattle police chief, Adrian Diaz, gave the department a deadline of October 5 to submit vaccination records. That timeline has now come and gone. The final date to submit records to the city is October 18; however, these stats provide a close estimate as to how many officers the Seattle Police Department is predicted to lose.

This comes on the heels of a record-breaking number of officers – about 300 — leaving the agency last year in response to the Democrat “defund the police” movement, which destroyed morale and facilitated horrific treatment from the Seattle City Council. Moreover, they’ve lost another 100 so far in 2021, according to the Post Millennial. What’s another 350?  I’m sure that the citizens won’t care.

15 COMMENTS

  1. #1 is an MBT-70, which wasn’t quite as terrible a design as some would have it, but the spaced armor was already obsolete, the gun/launcher electronics were too fragile, and putting the driver in the turret in a counter-rotating arrangement was just … weird.

    #2 I had no idea, except perhaps some post WW2 British oddity (of which they had more than a few). I ended up resorting to Google image lookup and was surprised.

    #3 is a South Korean K2 Black Panther, which seems to be quite a capable tank.

    Re: Seattle. It looks like the socialist city council is succeeding in driving away Amazon. Oh well. They’re getting the government they voted for — gooder and harder.

      • That pic of the NBT-70 looks like it was taken at Aberdeen. I saw it there years ago, and realized that it was the perfect design missing link between the M-60 and M-1. Used to be a ton of cool stuff there.

        I think they’ve moved the armor museum to Ft. Knox, now?

        -Kle.

    • I’m sure that the Democrats would love a VAT, but there are a lot of Beltway Bandits who might not and unless Congress has the stones to exempt THEM, I don’t think that you’ll see it.

  2. Seattle has always been a hotbed of political extremism. Unions, Wobblies, etc. The city itself was laid out by drunk loggers.

    Sad, because I enjoyed the 18 years of living in and around Seattle.

    Circa 1970’s I was a very minor player in Democrat politics spurred by my involvement with the handicapped. The decades long boondoggle was a high rise bridge to West Seattle. The matter came to a head when the only drawbridge was destroyed by ramming by a freighter. One night, deep into several drinks, the Mayor’s “bagman – his self description” said, “Now we are actually building the f**cking bridge, it hardly pays to be in politics”.

    The corruption in Seattle, or any other city, continues. The only change is which bunch of grifters are getting paid off. That is to include the current bunch of radicals.

    • I ran a few ops in and around Seattle over the years and some cross border with RCMP and Vancouver Police. I liked that part of the country, liberal bent notwithstanding. I spoke at government forums there and was on the govt side of protests. I gave thought to retiring in Sequim and that area. My point is that I liked the area, the climate, I don’t melt in the rain.

      Today I wouldn’t visit. And my sister, a hospital administrator there can visit me if she wants to

      • At one point we built a house near Friday Harbor (San Juan Island). Life priorities changed, and we sold it before we moved in. While it turned a tidy profit, selling it was a sad day.

  3. The $600 shot across the bow is designed to expand the IRS by the backdoor. It’ll be like the invasive TSA body scanners…looking over your private finances in some secret data collection room by failed private sector accountants with power.

    This vax mandate is a psyop, the elites are watching from a distance as their minions at the state level do their lockstep dirty work. We are dealing with an illegal corporate coercive mandate (ALL the vax’s are still under FDA EUA so the Nuremberg Code is in force). Religious exemption filed. Waiting to find out how “private and confidential” they espoused to keep HIPAA details. AH’s, every last one of them.

    • There will be an algorithm that kicks off an investigation into unreported income. In the cause of Title 26, US Code, you are guilty until proven innocent. It’s a way to shut up patriots.

  4. But the $600 thing is fake. FB factcheck says so.
    Sarcasm, of course.

    And in the REAL world, we can only hope enough financial institutions have the guts to stand up and NOT comply with that.

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