A friend shared an article that pushed my buttons.
It was on the ABC News website and talked
of how and Iowa widow had around $19,000
seized from her account because it wasn’t deposited
Because of a law that doesn’t allow large sums
of money to be deposited in amounts less than
$10,000 this poor woman is a criminal. This is to
help investigators track large sums of cash tied
to criminal activity they say. But has it gotten
out of hand?
In seven years the IRS seized $242 million, a
third simply because less than $10,000 was
deposited. About half was returned after those
who lost the money challenged the IRS.
So if I had $20,000 and deposited it in 4 banks
I would be a criminal, but if I deposited it in
2 banks I would be a pillar of the community? How
crazy is that! If…
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