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Interesting how that $10,000 threshold never gets adjusted for inflation. $10,000 has been the trigger/limit for a number of financial things since the 90s.
by transcriptase 1y ago
Interesting how that $10,000 threshold never gets adjusted for inflation. $10,000 has been the trigger/limit for a number of financial things since the 90s.
- techjamie 1y agoI did a little research. The $10,000 threshold was set in 1970 in the US as part of the Bank Secrecy Act and, as far as I can tell, wasn't updated since then to reflect inflation. According to an inflation calculator, $10,000 at the time that threshold was set is worth $82,679.12 today.
- JumpCrisscross 1y ago> $10,000 at the time that threshold was set is worth $82,679.12 today Huh. A reporting requirement on $100,000 cash transactions sounds way more reasonable.
- pixxel 1y ago[dead]