Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: Sedohr Nod who wrote (6127)	7/9/2007 3:23:21 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 25737

"Having 9k in cash seems like a pretty low and unreasonable threshold for seizure...." The legal threshold is a lot lower then that now.... (The amount at which the law calls for a Treasury declaration form to be filled out was originally '$10,000'... but it was then progressively lowered by Presidential Executive Orders to... I believe it's at $3,000. now.) Of course, that hardly matters because the law also covers 'structuring' to avoid the Treasury declaration form --- which is a separate felony in itself. ('Structuring' is ANY 'series' of transactions, or movements, that collectively could add up to the $3,000 limit... over any period of time.) Even the banks often don't know where the law really stands anymore --- so they mostly just report everything to cover their own asses with the feds.... Presumably the feds could charge most anyone they wanted to, at most any time, with a collection of major felonies... if they so desired.

To: Sedohr Nod who wrote (6127)	7/9/2007 3:30:50 PM
From: Oral Roberts	Respond to of 25737

Not sure on the date but it was Clinton era since he vetoed the try and taking some of that power from the government. The article I remember reading had this landscaper who has been in business for 25 years without issue one with taxes, etc and they seized his funds and said prove your not buying drugs. To me it was an abuse. Legal Mexican immigrant and it's like welcome to America bud. He just shrugged his shoulders and said it would cost more to get it back then it's worth. I also thought being from Mexico originally the guy is well versed with dealing with corrupt feds and probably just looks at it as the cost of doing business. So again I think on the MI case they probably got it right but I just don't like the law in it's present form.