No idea and I’m I’m the one I’m one of them that has to do it St your wife has an LLC right yeah do you have an LLC I believe I don’t remember if it’s structured that way but it was yeah I believe so anyone with an LLC even if
You’re not using it you have to file right yes it is every reporting entity so if you’re a single single member LLC an SCP you know whatever C Corp whatever kind of structure you have if you’re not Exempted which means you don’t have 20 employees or $5 million in revenue or
Fall into one of their other categories that they Exempted you know somebody like a a hedge fund of course is not included because why would they be right yeah there’s no money laundering right so if you have a reporting entity and that’s why I said it sounds like there
Are other reporting entities like housing associations that may get caught up because they file something with their state so if you’re a reporting entity you have to file and I don’t know if you noticed on that finen goov booi homepage that the First Alert they had
Is a fraud alert because of course uh people are taking advantage of this and trying to nobody knows anything about it so let me tell you about the media first of all thank you for being a platform for truth and one that supports small businesses because we’ve been talking
About this but none of the mainstream media has done anything to alert people to this however Glenn when the state of Alabama Supreme Court said that we’re going to rule this unconstitutional what did they say this is a blow to corporate transparency this is going to make it harder to fight the
Cartels you tell me what cartel and what money launderer is self-reporting to finset well let me also say this we’ve been talking about a giant crime family that is money laundering for a long time but because it was 10 for the big guy or five for the big guy he doesn’t have to
Report this because he’s already over $5 million so if you I mean if you’re small time small time money launderer then you have to do it but if you’re an honest money launderer you don’t have to file if you’re money laundering is over 5 million unbelievable well that’s the thing
That’s really frustrating they have have tools that alert them to suspicious activity there are suspicious activity reports from the banks which the Biden family had you know well over a hundred of them I think on a combined basis and they did nothing to look into potential money laundering so if there is
Suspicious activity or there is something that looks you know arai they have ways to go through the courts to go after that you know particular entity the ones who are massive criminals aren’t going to be report according to finsen so all this is is a mass surveillance program against small
Business and the penalties as you said are insane it’s not just for not reporting but it’s if you don’t update so a woman gets married and changes her name you move you get a new driver’s license because the other one was out of date you don’t let finsen know they can
Send you to jail why this was ever passed and oh by the way Trump did veto this and it went back to Congress and they overwrote it and nobody has done anything to fix this is absolutely insane there are 33 million small businesses in this country why are they
Being put under a microscope and saying you are criminals you’re Financial criminals and we are going to hold your feet to the fire if you don’t let us track you it is insane I got to tell you I’m I’m just looking at this webbsite it ju it Scrolls and it just keeps keep
Scrolling and scrolling and scrolling on what you have to do I mean this is this is as bad as the IRS if not worse because none of us have ever done any of this before you don’t even know can somebody else there is there an organization out there that can help
File this so you’re I mean the bureaucracy is crazy so that’s part of the challenge is that there are accountants and lawyers who are trying to get on top of it but because everything is so vague and confusing even they aren’t entirely sure what to do so again my recommendation is if you
Have an existing reporting entity this you you have until January 1st of next year I personally with my LLC I am not doing this until the very last minute because we’re working very hard we’re talking with lawmakers we’re trying to get it overturned at least delayed so
That we have a little breathing room to try to do something but the problem is that if you start a new business Clan you only have 30 days and I’ve heard some Rumblings that you this whatever it is that they’re collecting this information is that they don’t have a
Formal database built yet go figure right and so you know that information is incredibly vulnerable and that impacts the ability to start businesses in this country so if you’re starting one and you have an entity if you don’t have a reporting entity you don’t have to file something does that mean a
Reporting entity that’s a LC or something that you have to file information with your state to let them know that you’re a business there are certain people who act as sole Proprietors who don’t have a business around them or an entity around them
Like you said an LLC an S corp a C Corp and the like but if you have that reporting entity that’s where you’re getting caught up in this and it is just um it is just absolutely egregious nefarious and a front to small business I have a friend who is just this week
Started a new business guarantee you he knows nothing about this and because he’s starting a new business he has 30 days 30 days or he can be fined he can be thrown in jail it’s is it500 or $800 a day for every day after 30 days yeah it’s some
Some incredible amount per day up to 10 years in prison civil and criminal criminal penalties for not for not reporting or not again not updating your information it’s not just the first it’s not like you do this once and you’re done you have to remember this any time
You do anything that changes any of the information that would be collected in the system you know uh Stalin said show me the man I’ll show you the crime or his stazzy chief said that um that’s what this is I mean everybody is with all of the new guidelines and
Regulations and everything else there’s no way you can keep up with all of these things and I think they’re intentionally designed to be able to say sorry dude you’re a criminal you did this bye-bye cuz you know people who are connected are never going to have a problem from the treasury Financial crimes
Enforcement Network yeah and if you are really concerned about massive corporate transparency or massive scale laundering cartels then you would be exempt the small businesses and you would be focusing on large companies that have the financial resources and the capabilities to do reporting like the publicly traded companies do but it’s
Exactly the opposite so what other conclusion could we possibly draw that you want to surveil what small businesses are doing and do everything you can to hold them down and basically continue to transfer wealth from Main Street to Wall Street so when is when when is somebody can the group that now
Has filed and they said it was unconstitutional they can’t file because they don’t have standing to kick it up to the Supreme Court right so I I’m not a lawyer I don’t play one on TV I don’t know what the procedure is you have to ask a lawyer about that but there are
Certainly um a number of people who are looking into additional lawsuits there are some lawmakers who are looking into trying to get this overturned or at least delayed to give again some time to to rethink it and and see what can be done but in terms of the court I I
Couldn’t believe it’s unconstitutional but it’s only unconstitutional for this person who filed the lawsuit I never seen anything like have you ever seen anything like that before no I no no no I mean I will I I’ll file for a federal lawsuit I mean anybody you’ll join me I
Mean I have no expertise in this I have no idea I mean but let’s do it I I can’t I this government is completely out of control if they can do this and then they also have said you know there’s no gig workers anymore Carol what is that
Going to do to the grocery shelves when you can’t get private drivers to drive trucks I mean this is insane and it goes against the complete shift in the economy one of the great things about technology is it gave people flexibility Glenn flexibility to work the way you
Want to work and that’s the wonderful thing about America not everybody around the world gets to choose what they do for a living or how they work and more and more people want work life balance they don’t want to be an employee they want to make their hours and in fact
When they go out and they survey like from from the government surveys on down and they survey independent contractors the majority of people don’t want to be employees they love being independent contractors and they make at least as much if not more than if they were an
Employee so the fact that we have the Department of Labor who went around Congress and said we are going to change the way that independent contractors are classified we don’t want to have these Standalone people we want them to be employees they we want them to be in
Unions it’s all about big business it’s all about making the unions happy and it is against capitalism and your own choice your work your choice for the people who are so obsessed with choice and everything why would you not have a choice in how you present your labor you
And I agree on something what’s the government have to do with getting in the middle and going I’m sorry I don’t like the way that you guys decided how you want to work let me ask you this too you know there they Biden is working so
Hard to get labor unions to grow and the these kinds of things make you say I don’t want to be an owner of anything I just want to be a worker I don’t want to stick my head out for any risk at all that’s what this does then as they
Squeeze and squeeze and squeeze and you don’t really have any rights people will want to join unions but the unions are in bed with the people that are squeezing you it’s the great consolidation it’s taking away that freedom that choice that capitalism that underpins America what it is that made
Us successful that productivity that we talked about that’s going to to allow us to continue to grow and at least have a chance to save this country’s fiscal Foundation they want to do everything they can to put up barriers they want to put up barriers to work to earning a
Living I I can’t like if you said this to somebody 10 years ago 15 years ago they look at you like you were in a Bizarro World why would somebody did when we talked about it two years ago that it was coming right they looked at us like that’ll never happen well here
It is here it is
