system
Given the following post, respond as if you're commenting on Reddit:
human
CMV: $10k declarations do more harm to John Smith than it does to stop Pablo Escobar

It doesn’t make sense to me that in a capitalist society, it is suspicious to have money. It’s like the expectation is for the average person to be poor and if they aren’t then they must be doing something illegal. If you get stopped by police and are deemed to have too much cash on you they can confiscate it until they verify it’s legitimate...I get the reasoning is to combat organized crime and money laundering but it does more to hurt the every day Joe than it does to deter some drug lord. If I already pay my taxes, have no criminal record or suspicious connections theres absolutely no reason that I should need to go through the extra hassle and declare over $10k for any reason. If I mess up a form or you decide my answers aren’t good enough now I’m out of that money. $10k isn’t at all a lot of money and this amount hasn’t been adjusted for inflations. This is maybe 3-4 months of expenses for a family of 4. Meanwhile El Chapo is sending money on submarines, trading Bitcoin and buying and selling “art” and “high end fashion”

The IRS has not adjusted with the times and it’s impacting the everyday person in a negative way. At the very least the $10k limit should be raised, otherwise in 5 years taking a months worth of living expenses out the bank is going to be major hassle

Edit: The best way to change my view would be to give a good reason on why the limit shouldn’t increase. $10000 in 2000 is not the same as $10000 in 2022.
gpt
Pablo Escobar was literally losing about $2.1 billion USD to rodents, rotting, and forgetting where it was because he could not deposit that kind of cash without raising suspicion. Your everyday person at most has to fill out a form. So the premise of it doing more harm to John Smith than to Pablo Escobar is wrong.

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If an agency/police suspect the money on you is suspicious the amount doesn't matter. Civil forfeiture can happen with any amount. Even now if the police stop you and find just $100 on you and consider it suspicious, they can seize it and you will have to fight them back. So raising the limit when you have to report wouldn't change much in that regard.