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$10k seems really low. Like 1980s low. That's not even earnest money on a $1M house typical of California. That's a down payment on a car slightly nicer than a
by deckard1 4y ago
$10k seems really low. Like 1980s low. That's not even earnest money on a $1M house typical of California. That's a down payment on a car slightly nicer than a Civic today. Saw a Civic listed for $30k at the dealer last week.
- conductr 4y agoI think it was set in the 80s as part of the war on drugs.
- novok 4y agoYup, and that was the point I think. Set it at a high for the 80s / 50s / etc point and never scale with inflation.
- from 4y agoThere was a bill to raise it to $30k and reform various other parts of the Bank Secrecy Act that would have likely passed congress but then the Coronavirus hit and derailed the whole thing. Now with this whole Russia-Ukraine thing any effort to sensibly update reporting thresholds will probably never happen.