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EU-wide maximum limit of €10K for cash payments

consilium.europa.eu

211–220 of 915 posts

Re: EU-wide maximum limit of €10K for cash payments

#211

That'll go over well with Germans. Cold dead hands, prying, and whatever. Good luck.

Germany dislike credit cards and pay small sums in cash. Anything substantial is done by Überweisung/bank transfer and has been forever.

I never had a cheque book in Germany.

Re: EU-wide maximum limit of €10K for cash payments

#212

First line in the article: > The EU continues its fight to protect EU citizens and the EU's financial system against money laundering and terrorist financing. The EU has control of the propaganda machine at levels comparable to the Soviet Union. We should've just let them have it. I wonder how many Europeans are going to get in this thread to tell us Americans how much more privacy they have.

European here. The EU can go to hell and I long for the day when the union will finally implode.

EU citizen here. You are not representative. The EU is an incredible boon to civil rights, national wealth and our consumer protections are enviable.

Re: EU-wide maximum limit of €10K for cash payments

#213
post #5

This one kinda makes sense to me. Can't really think of any good legitimate use cases for large amounts of cash. Closest I can think of say a bar or something similarly cash heavy getting cash and paying suppliers directly. (which is in itself problematic @ tax)

Here is an easy one. Paying for food when there are power outages.

10k for food ?

Re: EU-wide maximum limit of €10K for cash payments

#214

Earlier quoted context omitted.

Tax levels are high and tax are being collected. Governments aren't short of money because of tax evasion. Tax evasion is not a top priority however you look at it... the argument sounds like "but think of the children" to justify things that are actually motivated by other aims and/or ideological reasons.

My country loses about €32 billions in yearly income due to tax evasion. That's the amount of money that could change many lives if used right. Instead we're cutting benefits to the poor bto reduce our deficit. Tax evasion is a top priority.

Tax the large companies properly first, then come after the little people.

Re: EU-wide maximum limit of €10K for cash payments

#215
post #176

Capital controls are one of the elements of financial repression. https://en.m.wikipedia.org/wiki/Financial_repression

You have to analyse at the population here; capital controls are useful for preventing people who have accumulated sizeable asset holdings in country X from moving them to a jurisdiction Y where there are effectively no taxes. Of course this reduces the freedom of the people who control these assets, but there is a common fallacy (usually introduced by the very same people) where they claim that liberty (in the abstract, without the very important qualification that this is _their_ liberty) is being surpressed while not noting the very important fact that _they are the most powerful members of society_ and that preventing them from moving their assets means that a whole lot of good (social welfare) cna be done for other people, without substantially impacting the material qualiy of their lives (the wealth/"improves my life" is pretty logarithmic IME, e.g. moving from 20,000 EUR -> 30,000 EUR of income a year makes a huge difference, moving from 30,000 EUR -> 130,000 EUR still makes a big difference, but 130,000 EUR -> 1 million EUR probably does not bring a concomitant increase in happiness).

I think this quote from Paulo Freire is pertinent

> The former oppressors do not feel liberated [once the people with less power than them are given more]. On the contrary, they genuinely consider themselves to be oppressed. Conditioned by the experience of oppressing others, any situation other than their former seems to them like oppression. Formerly, they could eat, dress, wear shoes, be educated, travel, and hear Beethoven; while millions did not eat, had no clothes or shoes, neither studied nor travelled, much less listened to Beethoven. Any restriction on this way of life, in the name of the rights of the community, appears to the former oppressors as a profound violation of their individual rights – although they had no respect for the millions who suffered and died of hunger, pain, sorrow, and despair. For the oppressors, 'human beings' refers only to themselves; other people are 'things'.

Re: EU-wide maximum limit of €10K for cash payments

#216

I know someone in England who paid for their houses construction by going to an ATM and maxing out the cash withdrawal per card, putting the cash in a bin bag, and giving it to the builders on a daily basis. I don't believe it'd be realistically possible to stop this from occurring.

Repeatedly taking out the daily limit seems like it would attract some additional attention.

Re: EU-wide maximum limit of €10K for cash payments

#217
post #212

Earlier quoted context omitted.

European here. The EU can go to hell and I long for the day when the union will finally implode.

EU citizen here. You are not representative. The EU is an incredible boon to civil rights, national wealth and our consumer protections are enviable.

The EU is a boon for the mercantile class. It's by design... ;-)

Re: EU-wide maximum limit of €10K for cash payments

#218
post #212

Earlier quoted context omitted.

EU citizen here. You are not representative. The EU is an incredible boon to civil rights, national wealth and our consumer protections are enviable.

The EU is a boon for the mercantile class. It's by design... ;-)

It lifted my country as well as dozens of others out of developing world status. There's a huge delta in national wealth between post soviet nations who joined the EU and those that didn't for example. A rising tide raises all boats.

Re: EU-wide maximum limit of €10K for cash payments

#219

its always to fight corruption and trafficing right?

I'm pretty sure a big goal is to fight tax evasion. I can't speak for all of EU, but here in Austria tax evasion is very common. For example, it's still extremely common to pay contractors under the table. They will ask you if you need an invoice, and the price will be a lot lower if you don't. Another example are restaurants. For a few years it has been required that restaurants always provide you with a receipt, bu…

What if the government is tyrannical or arbitrarily seizes your funds?

Re: EU-wide maximum limit of €10K for cash payments

#220

I know someone in England who paid for their houses construction by going to an ATM and maxing out the cash withdrawal per card, putting the cash in a bin bag, and giving it to the builders on a daily basis. I don't believe it'd be realistically possible to stop this from occurring.

“Structuring”
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