Did you know you credit card purchases are now reported to the IRS thanks to the Housing bill?

Question

Hidden on page 600 of the recently passed housing bill.

http://www.rapidtrends.com/blog/2008/07/24/congress-votes-to-bail-out-fannie-and-freddie-all-credit-card-transactions-will-be-reported-to-the-irs/

What are your thoughts?

Answer 1

Sounds like a good way to catch tax cheats.

The IRS would only be interested in how much your credit card payments are - not what you are buying with that card.  (Do you really think that the IRS can afford to pay people to look at the itemized bill?)

If you are honest with your taxes - why worry?

Answer 2

Wow, this is quite intresting.

The truth of the matter is though, is that if the government truly desires to tap into our lives, they have all the means neccessary. Legality is the least of their concerns.

Answer 3

guess i will have to up my s*x toy purchases

really now, this is getting way out of hand, the gov't needs to stay out my business.  I will definitely be writing my reps.

Answer 4

Oh no!  I'm so scared!

Answer 5

Oishi, You said a mouthful - wonder why there is hardly no one else who seems to understand it the way you do. I would have thought all this was obvious by now. Maybe they need to learn a little about the life cycle of countries/dynasties to understand - LOL

Oceania here we come.

Has anyone purchased thier own island yet? I want to buy a piece - not a big piece just one big enough for a house away from all this c**p.  I dont have enough money saved to get my own just yet - hopefully I will before the crappola hits the fan.

Oishi - you coming with?

Answer 6

Nazism.

Answer 7

Thanks for the link, I just heard Ron Paul mention this info on the Alex Jones Radio show today.

Answer 8

actually it's been that way for a while. i remember a while back an insuracnce company (life insurance) busted someone that said they were not a smoker for reduced rates, insurance co scanned their cc purchases and found multiple cig purchases. canceled their policy.

Answer 9

It's illegal because it's unconstitutional. It will remain illegal until the Constitution is amended to allow it. And it will continue along with every other offense, because our government has gone totally criminal, and no longer even PRETENDS to observe that great document which limits its powers. If citizens don't stand up and defend the Constitution, NO ONE WILL.

Furthermore, the IRS should not exist.

But if Americans don't care about the RFID's in their credit cards, the illegality of the income tax, all the domestic surveillance, fingerprints for mortgage, the new body scanners at airports, the REAL ID act, the John Warner Defense Act, PDD 51, secret prisons, FEMA camps, war crimes, the manipulation of oil prices, the deliberate devaluation of the currency, or any of the Orwellian police-state BS that's been going on...

...I doubt this will phase them either.