How Equifax Became a Private IRS

Re:How Equifax Became a Private IRS by jessaustin on Monday January 23, 2023 @09:21PM (#34498284)

Even in our most dystopian RAND-suggested bedtime story vision of a "communist hellhole", those proles who happened to possess a ruble when they got to the front of the breadline could buy a loaf. In the supercapitalist future, all transactions will require the approval of more than the two involved parties. Good luck buying anything if you ever express skepticism toward the great and powerful credit bureaus.

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Re:How Equifax Became a Private IRS by nwiswell on Monday January 23, 2023 @09:58PM (#34498576)

Perhaps I'm misunderstanding something about the point you're making, but in 2023 the third party creditor already must approve any transactions where credit is extended (e.g. credit card)

Credit bureaus remain uninvolved with cash transactions since, er, well, there's no creditor to be concerned about creditworthiness? I don't see how "supercapitalism" changes that

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Re:How Equifax Became a Private IRS by jessaustin on Monday January 23, 2023 @11:12PM (#34499134)

You haven't seen any of the anti-cash propaganda, some of it here on HN? The interests behind that are also behind several other disturbing changes.

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Re:How Equifax Became a Private IRS by nwiswell on Tuesday January 24, 2023 @02:45PM (#34509112)

Square peg, round hole. Has nothing to do with credit bureaus.

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Re:How Equifax Became a Private IRS by czbond on Monday January 23, 2023 @11:16PM (#34499162)

If you replace "Credit Bureau" with CBDC (Central Bank Digital Coin) it would ring very true or the probable future.

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Re:How Equifax Became a Private IRS by nwiswell on Tuesday January 24, 2023 @02:34PM (#34508942)

Alright, that's a little bit different, but doesn't that just imply that Bitcoin or Monero become "cash" in case you need to Do Some Crimes?

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Re:How Equifax Became a Private IRS by gruez on Monday January 23, 2023 @11:56PM (#34499473)

>Even in our most dystopian RAND-suggested bedtime story vision of a "communist hellhole", those proles who happened to possess a ruble when they got to the front of the breadline could buy a loaf. In the supercapitalist future, all transactions will require the approval of more than the two involved parties

What's preventing a "communist hellhole" from implementing something similar? Is it something about state ownership of capital that prevents a third party from interfering in two consenting parties from engaging in transactions? Actually, now that I think about it, aren't communist regimes pretty famous for shutting down markets? Isn't that a variant of "all transactions will require the approval of more than the two involved parties"?

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Re:How Equifax Became a Private IRS by jessaustin on Tuesday January 24, 2023 @12:17AM (#34499657)

What's preventing a "communist hellhole" from implementing something similar?

Nothing? I referred to a fantasy, not reality. (Don't get confused.) It's possible I missed one of the cautionary tales I was supposed to catch to truly inculcate the proper American fear and hatred of foreigners. If you can point me to some 1980s-era capitalist propaganda that features this particular horror, I'll concede the point.

Back in the real world, it seems possible that e.g. China already has this, or will soon. I wouldn't take either side in the "is China communist?" argument, for fear of offending. I don't care very much, because I don't live in China. I'm concerned with the particular drain that my own nation is circling. You apparently share my apprehension; otherwise you would have argued that this wouldn't happen here rather than that it will also happen there.

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