If the gov can put money in your account what is stopping them from taking it out?

[streetroc]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

 

[Cadcom]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

Been doing it for years with tax refunds. The IRS has been freezing assets for years as well. They can pretty much do what they want.

 

[GaMudd]

They do it. I've seen it done.

 

[streetroc]

Been doing it for years with tax refunds. The IRS has been freezing assets for years as well. They can pretty much do what they want.

Yeah but even with tax refunds you still have to give them your account number and routing number to authorize the transaction. I can't remember any other time where the government just accessed everyone's bank accounts by themselves.

 

[timbgtm]

Just look back at Obama's IRS, they took advantage of conservatives not giving tax ID credits for 501c.

 

[Cadcom]

Yeah but even with tax refunds you still have to give them your account number and routing number to authorize the transaction. I can't remember any other time where the government just accessed everyone's bank accounts by themselves.

When you open a bank account you have to give the bank your S.S. number. From that moment on, the feds have it. Each bank account is ensured by the FEDERAL RESERVE. If Washington gets hungry enough to go after personal wealth, then the only thing that will stop them is another revolution.

*But who would "revolt"? A lot of people will be just fine with another check and won't give a damn. Where it comes from.

 

[WinstonSmith]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

Short answer......nothing stopping them if they want to.

 

[RiverBend]

Whippersnappers, just wait till you are drawing yur life savings called social security, they will have that account to put that monthly retirement check in, fear not, Uncle Sam cares about us, specially us Boomers.

 

[TheGman]

When you open a bank account you have to give the bank your S.S. number. From that moment on, the feds have it. Each bank account is ensured by the FEDERAL RESERVE. If Washington gets hungry enough to go after personal wealth, then the only thing that will stop them is another revolution.

*But who would "revolt"? A lot of people will be just fine with another check and won't give a dam. Where it comes from.

If you rob Peter to pay Paul you can count on the support of Paul.

 

[Cadcom]

If you rob Peter to pay Paul you can count on the support of Paul.

Problem is you usually end up getting Peter!