The news has been full lately of this new plan to increase the number of recorded transactions on an individuals personal bank accounts. On any account that moves 600 dollars in or out in a year.
The goal is to squeeze the cash earners and make them pay more taxes. This is in response to recent spending bills, now they are trying to figure out how to pay for their actions.
They refer to cash deals such as flea markets, crafts, and any other person to person cash deal as an underground economy.
What are your thoughts?
