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Your jobs payroll taxes, and your annual 1040 federal tax return, just is not enough.

The Biden administration wants the IRS to document the totals deposited and withdrawn, but not the individual transactions, from personal and business bank accounts annually if more than $600.

In this COVID era, Rahm Emanuels infamous quip about never allowing a serious crisis go to waste echoes throughout the $3.5 to $5 trillion budget bill that seeks more government control.

Treasury Secretary Janet Yellen is leading the charge requiring banks to report cash transactions totaling $600 or more of their account holders. Yellen claimed such reporting would catch tax cheats and disclose opaque income streams that disproportionately accrue to the top.

Tucked away in the bill is $80 billion that would fund an army of IRS auditors to collect what the Treasury Department said would amount to $700 billion over the next decade. Rather than auditors, they should hire folks to answer their telephones.

When the political bureaucracy targets banks, you lose.

This is about total control, and it is working.

Americans complied on endless lockdowns that were to flatten the curve, the ubiquitous mask mandates that continue and now how everyone must be vaccinated.

Why should your bank account be any different?

What could possibly go wrong?

Dr. Anthony Fauci funnels millions of taxpayer dollars to the Wuhan Institute of Virology. President Joe Biden claims the military never advised him to keep a 2,500 residual force in Afghanistan and that our southern border is secure.

Casting a wide net over personal finances has always been a longstanding ploy of the left. There is no evidence of anything here that could be labeled Build Back Better.

Instead, the left doubles-down.

This scheme is nothing but another privacy breach waiting to happen. Twenty-three state treasurers and auditors signed a letter opposing the legislation describing it as one of the largest infringements of data privacy in our nations history.

Yellen and her leftist allies need to acquaint themselves with the Fourth Amendment that was passed to protect the quintessential American right to be left alone. The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.

What else about the Constitution does the Biden administration not comprehend?

Granted, since the Bank Secrecy Act of 1970, all bank transactions over $10,000 are reported. In actuality, that amount needs to be adjusted for inflation, which would make todays limit $70,000. Congress needs to include that in the legislation but wont.

Leveraging the banking system to track down terrorists is not new, but including you is. Perhaps, such zeal could be employed to find the 40 million here illegally and all the welfare, disability and COVID unemployment fraud circulating nationwide.

Any politician supporting this is oblivious to the concepts of freedom and liberty. Socialism has arrived and this bill will only serve to expand it. This is a power grab to confiscate personal wealth and redistribute it to those whose only work history is running their mouths and playing the victim.

Affording the IRS access to your bank transactions provides them access to snoop into your financial affairs; what church, if any, you support, the charities and political causes you aid, while creating a data profile where your privacy is replaced with surveillance.

Ultimately, politicians will push legislation that regulates how you save and invest.

How soon until the IRS requires your ATM withdrawal receipt and questions where you spent it?

Along with the White House, Democrats own a razor-thin majority in the Congress. Not to be deterred, the left will stop at nothing in their brazen pursuit of power and control.

Who is the menace to freedom and privacy now?

Everyone, including the economy, will be much better off provided this bill does a MacArthur and fades away, forever.

GREGORY MARESCA writes from Northumberland County

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Big brother banking on you | | standardspeaker.com - Standard Speaker

The $1 trillion U.S. Infrastructure Bill seemed to have touched on nearly every subject, ranging from clean energy and infrastructure, to the internet and even digital assets. However, many crypto investors are worried about what the bill could mean for their trading activities. As it turns out, so are a few lawyers.

During an episode of the What Bitcoin Did podcast, host Peter McCormack spoke to independent lawyer Abraham Sutherland and Chief Compliance Officer at Multicoin Capital, Greg Xethalis. They discussed the US Infrastructure Bill and in particular, Section 6050I.

6050I is part of the U.S. Tax Code. A proposed amendment to it would make the recipient of digital assets valued at more than $10,000, responsible for verifying their senders personal details including their Social Security number.

Recipients would then have to send a report of the same to the government authorities within a certain time frame. Those who dont obey could be forced to pay fines or spend up to five years in prison.

Sutherlandsaid,

This is an amendment to the tax code but its really a new criminal prohibition on peer-to-peer transfers and its been overlooked.

In essence, the proposed requirements fly in the face of DeFi and decentralization itself. For his part, Xethalis worried that the problematic amendmentput the onus of KYC and verification on people who were not equipped to be regulators.

Meanwhile, McCormack pointed out that many U.S. residents wouldnt even be able to comply with the rules, due to the nature of crypto itself.

Sutherlands research report on the provisionstated,

Miners, stakers, lenders, decentralized application and marketplace users, traders, businesses and individuals are all at risk of being subject to this reporting requirement, even though in most situations the person or entity in receipt is not in the position to report the required information.

Calling the requirements an invasion of privacy, McCormack questioned whether a crypto exchange user would soon have to report every transaction, as well as their sender or recipient, to the U.S. government.

Americas Bank Secrecy Act makes it mandatory for banks to report all cash transactions involvingmore than $10,000 to the government. If the US Infrastructure Bill passes, Sutherland believed that banks could also apply this rule to digital assets.

McCormack naturally wondered how such regulations would apply to an asset as volatile as Bitcoin or even NFTs.

Speaking about the amendment, Sutherlandsaid,

Now, I dont want to focus on, kind of, the legal infirmities of this, but [its] highly constitutionally suspect under the fourth amendment.

He was, of course referring to Americas 4th amendment right, which deals with citizens security and privacy.

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What is the US infra bill crypto amendment REALLY all about - AMBCrypto News

By Carson Eschen and Eric Rodriguez

SANTA BARBARA, CA A deputy public defender argued here in Santa Barbara County Superior Court Wednesday that a mothers pretrial release conditions were too stringent and that they were wrongfully based on acts that were committed not by her but by a defendant in a related case.

Danisha Michelle Figueroa is being charged with conspiracy to commit a crime, and accessory to a crime.

During the hearing, Figueroas public defender, Brian Mathis, stated that he believed the pretrial report was primarily describing the actions of David Lamar, not Figueroa. The only allegations that he believed were actually being levied against Figueroa were surrounding the attempted deletion of evidence.

Lamars casein which he is being charged with threatening a crime with intent to terrorize, commit battery, and prevent/dissuade witness victim from giving testimonyis associated with Figueroas case but his charges are not her charges, maintained the defense attorney.

According to the defense attorney, Figueroa allegedly discussed deleting incriminating evidence during a jail call, and agreed to deleting such evidence by accessing Lamars email and attempting to delete the incriminating evidence.

PD Mathis claims her allegations fall under minor cyber-crimes, as opposed to the felony charges in Lamars case.

Taken alongside Figueroas status as a mother of three children14, 12, and 3Mathis requested that she be released with pretrial supervision without a GPS tracking device. He pointed out that the use of GPS tracking devices was unnecessary as Figueroa was complying in any way possible.

He also argued that GPS tracking incurred a significant cost, which he believed to be unnecessary for this case.

He also objected to a clause giving up Figureoas Fourth Amendment right and a clause to abstain from drugs and alcohol, stating that they also didnt pertain to the current charges.

The judge agreed to the release, but still insisted on the GPS tracking device and other terms and conditions proposed by the prosecution, noting that she had sometimes left her kids with their father to meet up with Lamar.

He also cited previous incidents, occurring five years prior, where Figueroa had failed to show up for court.

Figueroa is expected to report to probation on Oct. 14 for supervised release.

Her case has also been placed under the same judge that is overseeing Lamars case to make due process more efficient, as proposed by the district attorney.

Figueroa is scheduled to appear at the court on Oct. 22 for a hearing setting date.

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Mother of Three, Associated with a Man Charged with Domestic Violence, Given Pretrial Release - The Peoples Vanguard of Davis

BELLEFONTE The Penn Stater Hotel and Conference Center is once again part of Centre Countys Election Day plans.

On Tuesday, Centre County commissioner Michael Pipe confirmed that the county will use the site to count mail-in ballots, but on a much smaller scale.

Much smaller, Pipe said. In 2020, we had about 275, 300 individuals over the course of two days. This election, were looking at about 70 people. So its much, much smaller. Were bringing it down to scale. Were going to be able to enhance some of the things that weve done in the past to make sure that its transparent and open. Folks can come in to look at it. It should be a good process.

Election Day 2021 will not draw the crowds that 2020 saw, since its not a presidential election. However, with COVID-19 numbers on the rise once again in Centre County, mail-in ballots are a safe and effective way to cast votes.

We do have about 10,000 applications for mail-in ballots as of this morning, commissioner Steve Dershem said.

Secure dropboxes will be located throughout the county, Pipe said.

Drop off boxes were installed over the last few days, so theyll be opened once ballots start going out. That will be this week, Pipe said.

Election Day is right around the corner Tuesday, Nov. 2. Polls will be open from 7 a.m. to 8 p.m. that day. Voters casting mail-in ballots can use the U.S. Mail. They can also deliver them to the main entrance of the countys Willowbank Building, 420 Holmes St., in Bellefonte, or to any of eight secure drop-box locations around the county until 8 p.m. on Election Day.

In other business Tuesday, the commissioners:

Issued Proclamation No. 33 of 2021, which proclaimed October 2021 as Cyber Security Awareness Month in Centre County.

Watched as county administrator Margaret Gray opened responses for the RFP Information Technology Managed Services. The RFP was tabled until Tuesday, Nov. 30, 2021.

Approved a contract with Centre Communications to provide microwave battery maintenance at ten tower sites to include battery capacity upgrades at two sites, and a backup battery charger and rectifier at one site. The contract total is $90,158 for the period of Oct. 19, 2021 to Feb. 28, 2022. The contract was moved to next weeks consent agenda.

Received a quotation from Centre Communications for decommissioning and removal of the tower at the Centre Hall site. Centre Communications will decommission and dismantle the tower and remove all steel from the site. The county will be responsible for removing concrete foundations, piers, anchors and other items below ground level. The total quote is $9,360. The quotation was moved to next weeks consent agenda.

Approved a contract with Helen Stolinas, Esquire of Mazza Law Group PC to provide legal services. The contract total is $7,500, which is funded as follows: State ($6,000) and county ($1,500) for the period of July 1, 2021 to June 30, 2022. The item was moved to next weeks consent agenda.

Approved a contract renewal with Pathways Adolescent Center to provide residential/transitional living services for dependent/delinquent youth.

The contract total is $250,000, which is funded as follows: State ($200,000) and county ($50,000) for the period of July 1, 2021 to June 30, 2022. The item was moved to next weeks consent agenda.

Approved a contract renewal with Pressley Ridge to provide residential services for dependent/delinquent youth. The contract total is $37,500, which is funded as follows: State ($30,000) and county ($7,500) for the period of July 1, 2021 to June 30, 2022. The item was moved to next weeks consent agenda.

Approved a contract renewal with Adelphoi Village, Inc. to provide foster/residential services. The contract total is $295,000, which is funded as follows: State ($236,000) and county ($59,000) for the period of July 1, 2021 to June 30, 2022. The item was moved to next weeks consent agenda.

Approved a contract renewal with Centre County Youth Service Bureau to provide residential services for dependent/delinquent youth. The contract total is $1,702,000, which is funded as follows: State ($1,361,600) and county ($340,400) for the period of July 1, 2021 to June 30, 2022. The item was moved to next weeks consent agenda.

Approved a fourth amendment to the lease agreement with Fred R. Wood and Denise M. Wood d.b.a Together Investments for the premises located at 1524 West College Avenue, State College for the Centre Region MDJ Office. The contract total is $284,418.60 for the period of Jan. 1, 2022 through Dec. 31, 2027. The item was moved to next weeks consent agenda.

The Centre County commissioners will meet again at 10 a.m. on Tuesday, Oct. 19 at the Willowbank Building. The meeting is open to the public and masks are required. The meeting will also be televised live via C-NET.

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Centre County will use Penn Stater on Election Day - Lock Haven Express

Item 1.01 Entry into a Material Definitive Agreement.

As previously reported, the Company is party to a Loan and Security Agreementwith North Mill Capital, LLC ("North Mill"), as successor in interest to SummitFinancial Resources, L.P., dated effective February 27, 2017, as amended April16, 2018, April 24, 2019 and December 18, 2020 (as amended, the "CreditAgreement"). The Company's obligations under the Credit Facility are secured byall of the Company's personal property, both tangible and intangible, pursuantto the terms and subject to the conditions set forth in the Credit Agreement.Availability of funds under the Credit Agreement is based on the Company'saccounts receivable and inventory but will not exceed $4,000,000.

Effective October 7, 2021, the Company and North Mill amended the CreditAgreement to increase the availability under the loan based on inventory. Underthe amendment, minimum availability under the loan based on inventory shall bethe lowest of: (i) the total cost eligible inventory multiplied by the advancerate; (ii) one hundred percent (100%) of the current availability provided byeligible accounts receivable; (iii) two million dollars ($2,000,000), anincrease from the prior amount of $1,000,000. The inventory advance rate remainsat 25%. This increase in borrowing capacity will allow the Company to increaseits borrowing under the Credit Agreement to meet its working capital needs, notto exceed the $4,000,000 maximum which remains unchanged.

The minimum monthly payment will remain .25% (25 basis points) on the maximumavailability ($10,000 per month). In the event the Company prepays or terminatesthe Credit Facility prior to February 27, 2022, the Company will be obligated topay an amount equal to the minimum monthly payment multiplied by the number ofmonths remaining between February 27, 2022 and the date of such prepayment ortermination. The maturity remains February 27, 2023, at which time all amountsoutstanding will be due and payable. Total availability under the creditagreement remains at $4,000,000.

The foregoing summary of the Credit Agreement is qualified in its entirety byreference to the Fourth Amendment to Loan and Security Agreement, a copy ofwhich is filed herewith as Exhibit 99.1, and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under anOff-Balance Sheet Arrangement of a Registrant.

The information related to the Credit Agreement discussed under Item 1.01 setforth above is hereby incorporated by reference under this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

Edgar Online, source Glimpses

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ALLIED HEALTHCARE PRODUCTS INC : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an...