I hate this law with a passion.
Posted on: April 9, 2017 at 08:32:38 CT
RHAYWORTH MU
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It penalizes people for withdrawing their own money. If the feds want to track people withdrawing over 10 K, fine.
Don't make it illegal.
Sadly, 10K isn't that much these days. Before everyone jumps all over that, can you buy a car with 10k? Not a new one, or even a good motorcycle. It's not much of a house down payment either.
In the future, the feds will attempt to lower that threshold, simply to force people into easily tracked electronic transfers.