5 ms·
The Israeli version is not new. It was introduced 3 years ago (perhaps more?) with the sums that are legal to transact in cash reducing every year or so. At fir
by beagle3 4y ago
The Israeli version is not new. It was introduced 3 years ago (perhaps more?) with the sums that are legal to transact in cash reducing every year or so. At first, it was sums that only affected people who were (likely) doing things illegally (e.g. drugs, bribes, tax evasion, money laundering, etc). So there was little to no protest -- very few people realized where this was going.
Now, it basically affects everyone - the current threshold is in the between minimum wage and average wage, closer to minimum, with exceptions for effectively 5-year-or-older-common-cars and a couple more things. In a couple of years, the threshold would likely be lower than minimum wage (either by rule change, or by inflation that would bring minimum wage above current threshold), and at that point, the threshold would be "money you can give your kids to buy to stuff for themselves at the store, and not much more".
Slow boil, works great on populations.
- from 4y agoRelated: The $10,000 reporting threshold in the US has not been updated since the 70s. There have been multiple bipartisan attempts to update it to $20-30k (which is still half of what it should be according to CPI) but for some reason they have not gone anywhere. Most CTRs are basically spam at this point. A lot of people are seeing that the current BSA system incentivizes filling out SARs on everything possible to absolve yourself of liability instead of providing actionable intelligence but no one wants to change anything because they will look "soft" on crime/terrorism/Russia/whatever nonsense. Something like 95%+ of SARs don't result in any sort of criminal referral which is a pretty bad false positive rate in my view.