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We have not had credit cards since 1985.
We do have debit cards, but I prefer using cash.
The government would very much like to go to a cashless society, because they know just how many taxes they are losing out on by those working under the table, drug dealing, hookers, those who work for tips, etc.
There’s only one mechanic I’ll let work on my truck and my wife’s truck, he’s a good friend too. When he does a job for me, say a rear main seal for $680, I’ll go to the bank and get cash for him, and I’ve told him many times that if he doesn’t want to report that job to the government and not pay any taxes I’m all for it. To hell with the government, there’s too much in taxes being raped from us now.
We do have debit cards, but I prefer using cash.
The government would very much like to go to a cashless society, because they know just how many taxes they are losing out on by those working under the table, drug dealing, hookers, those who work for tips, etc.
There’s only one mechanic I’ll let work on my truck and my wife’s truck, he’s a good friend too. When he does a job for me, say a rear main seal for $680, I’ll go to the bank and get cash for him, and I’ve told him many times that if he doesn’t want to report that job to the government and not pay any taxes I’m all for it. To hell with the government, there’s too much in taxes being raped from us now.
I think it's like when you set up one of your bills for "Auto-Pay".
Every month it drains the payment amount out of your checking account.
Nobody cares.
Remember when they wanted every transaction over $600 reported?
Suppose you had an 'auto-pay' to a CC account set up for $500 every day for a 30-day month?
Would you dodge reporting even at the $600 level? Yes.
Math question: So, what is $500 per day for 30 days equal to? Less than $10K?
Now do that with 100 accounts and people will start calling you Hunter B.
I'm all for paying as low a tax bill as you can legally. When someone resorts to illegal means to lower their tax bill, that just makes the rest of us pay more to cover the missing funds, because the government will just raise taxes to make up for what people skipped out on paying. These raised taxes affect those who pay what they legally owe, but not those that don't. So it's kind of a vicious circle.
Not 100% true. Sure millions of people dodge paying taxes.
Like what Warren Buffett once quipped on national TV:
"I could go every year without paying a dime in income tax if I wanted. All I would have to do is take out massive loans and have my income sources pay on the loans".
Is money from a loan 'income', no.
Is someone paying the loan company on your loan 'income', no.
OK.....Now I understand. What you "Missing" is that those type tractions have your NAME and your account numbers. Plus, they are Not CASH.
There a clearly recorded record of where the NON-cash funds went.
There a clearly recorded record of where the NON-cash funds went.
I think it's like when you set up one of your bills for "Auto-Pay".
Every month it drains the payment amount out of your checking account.
Nobody cares.
Remember when they wanted every transaction over $600 reported?
Suppose you had an 'auto-pay' to a CC account set up for $500 every day for a 30-day month?
Would you dodge reporting even at the $600 level? Yes.
Math question: So, what is $500 per day for 30 days equal to? Less than $10K?
Now do that with 100 accounts and people will start calling you Hunter B.
Records? Yes.
Reported? No.
Never had a credit card, never will. I know what slavery looks like.
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I read "the War on Cash" and this was mentioned in that book too.
I pay cash for almost everything. If a plumber visits my house, they get cash on the spot. If it was for a service call and not a warranteed part, I don't need a receipt. They can do whatever they want with it.....report it or not. It's not my call.
My phone news feed suggested an article about how much you should have in the event of a national emergency. The article said an "emergency fund" can be kept in the bank, but a "national emergency fund" needs to be kept in the form of cash at home or someplace accessible. I was pretty surprised to see this article mixed in with the usual Hollywood celebrity nonsense my phone usually suggests to me and which I usually ignore.
Unless you keep large sums of your money under your mattress, you'll have to get your cash from somewhere. For most people, that is the bank. Large withdrawals, even if to cash, are transactions that are subject to reporting.
How much cash did they suggest?
Something else to consider: many tradesmen will knock a little off the tab if you pay cash. I always make a point of paying cash for services, except for big ticket items like carpet installation. I do most of the work around my home anyway, but when I farm out tasks I pay cash, and I tell the tradesman that what he does with the money is his business, and his alone. Sets up a good rapport when ya tell him in advance, lol.
A good example: I called a plumber to clear the sewer line under my home in Benson, I had just bought the home and I was busy painting the interior. The guy gave me a quote over the phone: $120 to rod the line with a burly auger. This is something I've done many times, but I was busy painting so I simply farmed it out. When the guy arrived, I went ahead and put $120 in his hand... he peeled off a $20 and gave it back, lol. Cool guy, semi-retired, we got along just fine.
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I generally prefer the protections that paying via credit card provides. If some vendor tries to screw you, there's always the possibility of me using a chargeback. Also, we get money back from credit card purchases. We use cards that give you cash back. Not points, or some airline miles - actual cash (e.g., the Costco CitiBank credit card). We pay off the cards in full every month, so no interest. We got quite the tidy little "cash back" when we bought a car with a credit card. The dealer looked at us quite skeptically when we asked if they took MasterCard. But we were serious, and they indeed put it on our charge card. All except for a few hundred dollars that couldn't be paid via credit card - I can't remember if it was some government fee, or tax, or something - but it was an inconsequential amount compared to the cars sale price.
Cash has benefits sometimes. Charge cards have benefits sometimes. Generally, for the type of transactions I do, charge cards provide the higher benefit. If you want to hide what you are purchasing, get a cash discount, or duck taxes - cash is king.
Cash has benefits sometimes. Charge cards have benefits sometimes. Generally, for the type of transactions I do, charge cards provide the higher benefit. If you want to hide what you are purchasing, get a cash discount, or duck taxes - cash is king.
The guy that delivered propane would knock off some of the bill if you paid cash.
I always thought it was a cash discount but I was wrong.
I later found out he was pocketing the cash and he would add the propane charge to some farmers bill.
The farmers were buying so much propane they never noticed they were being over charged.
My cousin's husband has 2 propane tanks that hold over 10,000 gallons each. They would never know if they were charged for an extra 100 gallons. They are part of a co-op so they pay way less for propane than a home owner so the company was losing on both sides.
I always thought it was a cash discount but I was wrong.
I later found out he was pocketing the cash and he would add the propane charge to some farmers bill.
The farmers were buying so much propane they never noticed they were being over charged.
My cousin's husband has 2 propane tanks that hold over 10,000 gallons each. They would never know if they were charged for an extra 100 gallons. They are part of a co-op so they pay way less for propane than a home owner so the company was losing on both sides.
The only way anyone's taxes will go up or down is, as you note, by Congress passing an Act.
By the US Constitution, all bills regarding taxes are made in the House.
This is why it is critical that conservatives control this body.
And, for the record, even though I could do my own income tax form each year, I always pay a professional tax service to do it for me.
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OR, if you just want normal, everyday privacy and want to keep cash relevant. The more people that use cash, the less chance the .gov will have of doing away with it entirely. Without a doubt they ARE going to try.
Also, Dave Ramsey touts cash as the best way to keep your finances under control. When people hand over the green stuff, it tends to make more of an impact on the psyche than CC's and can keep people from overspending. When the only cash you can spend sits in your wallet, you have a tendency to pay closer attention to that wallet.
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$2000
[Edit: Most articles like this decline to state an absolute dollar amount, because, for example, $2000 for some people is negligible, and $2000 for others is unreachable. So, it seems silly to throw an amount like that out there. But, this one did, which was interesting.]
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Totally agree with this. When I started putting a regular amount of cash in my wallet, and then started paying for things with cash, I found myself working hard not to pull the green stuff out of my wallet. Credit card though?...I would always swipe away. You want to save money?...use cash.
That's very true. I can't tell you how many times I've been in the grocery store, scanned all my items, paid with credit card, and then my wife asks how much it cost and I have to answer "I have no idea, let me dig out the receipt and look."
A few months ago, I signed up for weekly market updates from Fidelity. Today's "update" was actually about making sure you have an emergency fund. Hmmm. Why all the "emergency fund" talk all of a sudden???
I have to save all year to get $2,000 to go to our annual Army division reunion.
The vast majority of 'well-off people' don't have one. They keep less than 5-days worth of funds on hand. Even a one-week 'internet-apocalypse' would have them standing in a food-line.
Two other points:
1. Millions live paycheck-to-paycheck and have nothing to fall back on. If the country goes into a bad recession and they lose their job/income, they will be 'up the creek'.
2. Speaking of Fidelity, many people have a 'fiduciary' managing their funds and have no idea that the vast majority of it is in "risky stocks" (because they make the most money when times are good
). If the country goes into a bad recession, more than half of it could vanish in a puff of smoke.Guess what Fidelity is worried about? The only question is, how bad?
Keep your plastic paid off. Keep cash in your safe. Keep ammo in your guns. Pop the hood on your Fidelity account and see exactly what you are invested in.
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Ditto that!The vast majority of 'well-off people' don't have one. They keep less than 5-days worth of funds on hand. Even a one-week 'internet-apocalypse' would have them standing in a food-line.
Two other points:
1. Millions live paycheck-to-paycheck and have nothing to fall back on. If the country goes into a bad recession and they lose their job/income, they will be 'up the creek'.
2. Speaking of Fidelity, many people have a 'fiduciary' managing their funds and have no idea that the vast majority of it is in "risky stocks" (because they make the most money when times are good
Guess what Fidelity is worried about? The only question is, how bad?
Keep your plastic paid off. Keep cash in your safe. Keep ammo in your guns. Pop the hood on your Fidelity account and see exactly what you are invested in.
Ben
cashless means broke in my world and cant buy or pay for anything...lol
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I thought this was interesting, although nothing I didn't already know.....except for the fact that someone took it to court and won their case therefore avoiding foreclosure. I wonder what would happen if this movement caught on?
https://media.gab.com/system/media_attachments/files/112/279/666/playable/11306ef5e37f5530.mp4
I think we all know the monetary system is bunk. Congress passes trillions of dollars in spending bills.....as if billions of dollars wasn't enough. That money comes from thin air, b/c neither the taxpayers or the printing presses can keep up with that. We all know this. So, how long is the house of cards going to stand?
This is not directly releated to the topic at hand, but I wasn't sure where else to put it. Although it might be another reason cash is under attack. They can't print enough of it to keep up with the spending that's going on, so maybe their 'fix' is to just get rid of it. It's much easier to just add ones and zeros to digital currency b/c you don't need a printing press.
https://media.gab.com/system/media_attachments/files/112/279/666/playable/11306ef5e37f5530.mp4
I think we all know the monetary system is bunk. Congress passes trillions of dollars in spending bills.....as if billions of dollars wasn't enough. That money comes from thin air, b/c neither the taxpayers or the printing presses can keep up with that. We all know this. So, how long is the house of cards going to stand?
This is not directly releated to the topic at hand, but I wasn't sure where else to put it. Although it might be another reason cash is under attack. They can't print enough of it to keep up with the spending that's going on, so maybe their 'fix' is to just get rid of it. It's much easier to just add ones and zeros to digital currency b/c you don't need a printing press.
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And.....we're off to the races! But, it's all for our protection, of coarse. I think the Gab poster below is right, although I think he is reading between the lines. This is just the beginning of something much more evil.
@BeachMilk:
Executive Order 14067 will begin eliminating cash in the US starting in December this year. This new digital currency can be programmed to allow certain expenditures, disallow others, and easily tied to social credit scores……aka LIFE-LONG SLAVERY.
The 87,000 new IRS agents were most likely hired to get this digital system in place and functional. Don‘t let this happen folks! You have been warned..
https://www.presidency.ucsb.edu/doc...suring-responsible-development-digital-assets
@BeachMilk:
Executive Order 14067 will begin eliminating cash in the US starting in December this year. This new digital currency can be programmed to allow certain expenditures, disallow others, and easily tied to social credit scores……aka LIFE-LONG SLAVERY.
The 87,000 new IRS agents were most likely hired to get this digital system in place and functional. Don‘t let this happen folks! You have been warned..
https://www.presidency.ucsb.edu/doc...suring-responsible-development-digital-assets
