Subject: 1% tax on all bank transactions HR4646

[southfork]

1. snopes.com: Debt Free America Act •••
Is the U.S. government proposing a 1% tax on debit card usage and/or banking transactions?
...It is true. The bill is HR-4646 introduced by US Rep Peter deFazio D-Oregon and US Senator Tom Harkin D-Iowa. Their plan is to sneak it in after the...
...moved beyond proposing studies and submitted the Debt Free America Act (H.R. 4646), a bill calling for the implementation of a scheme to pay down the...
...[2010] by Rep. Chaka Fattah (D-Pa.). His "Debt Free America Act" (H.R. 4646) would impose a 1 percent "transaction tax" on every financial transaction...
Mon, 15 Aug 2011 11:25:46 GMT http://www.snopes.com/politics/taxes/debtfree.asp
----- EVERYONE NEEDS TO TAKE NOTICE OF THIS ONE!!!!

Subject: 1% tax on all bank transactions HR4646

Watch for this AFTER November elections;

Remember This BEFORE you VOTE in case you think Obama's Looking out for your best interest.

1% tax on all bank transactions HR 4646

This government just cannot think of enough ways to hurt the American people!This Bill must die FORWARD THIS TO EVERYONE YOU KNOW!

1% tax on all bank transactions HR 4646 - ANOTHER NEW OBAMA TAX SLIPPED IN WHILE WE WERE ASLEEP.


Checked this on snopes, it's true! Check out HR 4646. (see below copied from Snopes)

President Obama's finance team is recommending a one percent (1%) transaction fee (TAX). Obama's plan is to sneak it in after the November Elections to keep it under the radar.

This is a 1% tax on all transactions at any financial institution - banks, credit unions, savings and loans, etc. Any deposit you make, or even a transfer within your account, will have a 1% tax charged.


~If your paycheck or your social security or whatever is direct deposit, it will get a 1% tax charged for the transaction.


~If your paycheck is $1000, then you will pay Obama $10 just for the privilege of depositing your paycheck in your bank. Even if you hand carry your paycheck or any check into your bank for a deposit, 1% tax will be charged.

~You receive a $5,000 stock dividend from your broker, Obama takes $50 just to allow you to deposit that check in the bank.


~If you take $1,000 cash to deposit at your bank, 1% tax will be charged.

Mind you, this is from the man who promised that, if you make under $250,000 per year, you will not see one penny of new tax. Keep your eyes and ears open, you will be amazed at what you learn about this guy's under-the-table moves to increase the number of ways you are taxed.

~Oh, and by the way, you receive a refund from the IRS next year and you have it direct deposited or you walk in to deposit that check, you guessed it. You will pay a 1% charge of that money just for putting it in your bank. Remember, Any money, cash, check or whatever, no matter where it came from, you will pay a 1% fee if you put it in the bank.

Some will say, oh well, it's just 1%. Are you kidding me? It's a 1% tax increase across the board. Remember, once the tax is there, they can also raise it at will. And if anyone protests, they will just say, "oh,that's not really a tax, it's a user fee"! Think this is no big deal? Go back and look at the transactions you Made from last year's banking statements. Then add the total of all those transactions and deduct 1%.


Still think it's no big deal???


1. Snopes.com: Debt Free America Act - Is the U.S. Government proposing a 1% tax on debit card usage and/or banking transactions?


...It is true. The bill is HR-4646 introduced by US Rep Peter DeFazio D-Oregon and US Senator Tom Harkin D-Iowa. Their plan is To sneak it in after the...


...moved beyond proposing studies and submitted the Debt Free America Act (H..R. 4646) , a bill calling for the implementation of a scheme to pay down the...


...[2010] by Rep. Chaka Fattah (D-Pa.). His "Debt Free America Act" (H.R. 4646) would impose a 1 percent "transaction tax" on every financial transaction...

[Irons]

Yet another reason to be your own central bank. Starve the system.

[bemac]

This would be a very regressive tax. People will not be happy about this.

[phideaux]

The US Federal Income Tax started at 3%, and only on the top 10% or so of earners.

Look where that went...

Give 'em a penny, eventually they'll take almost all of your dollar.

[CiscoKid]

Yet another reason to be your own central bank. Starve the system.

Precisely. No big surprise that this is being pushed by demofelons. Even less surprised at this - "Obama's plan is to sneak it in after the November Elections to keep it under the radar." I'm not saying the republicans are that much better but, just damn, the dems are getting more and more brazen. Obama keeps droning on and on about how it's not fair that millionaires and billionaires are not paying their fair share and there sits John Kerry who is docking his boat in another state to avoid paying higher taxes on it. Seems taxes are for the little people after all.

[Irons]

Precisely. No big surprise that this is being pushed by demofelons. Even less surprised at this - "Obama's plan is to sneak it in after the November Elections to keep it under the radar." I'm not saying the republicans are that much better but, just damn, the dems are getting more and more brazen. Obama keeps droning on and on about how it's not fair that millionaires and billionaires are not paying their fair share and there sits John Kerry who is docking his boat in another state to avoid paying higher taxes on it. Seems taxes are for the little people after all.

If I need FRN's for an unexpected expense I break out the mask and flippers and recover a couple gold coins from the boating

accident. Piss on the system, it exists to rob productive people and make them as poor and dependant as possible.

[TnAndy]

No problem.

I'll move everything I have ( checking, savings, CD or two ) to one account and notify them to be ready to supply it all in cash, as I'll be closing my account on such&such date.....and thanks !

From then on, no checks will be taken.....all payments to me must be in legal tender, not some paper or electronic facsimile thereof.

Given the current near zero rate of interest on deposits, no one would have much to loose, and they, on the other hand, would have a LOT to loose.

[andial]

A tax like this will have little effect on me except for my small potato trading account that I consider gambling money anyways.

[hoarder]

Scraremongering. This ain't gonna happen. The banksters are trying to establish a cashless society and this would only push people in the other direction.

[Not Sure]

Scraremongering. This ain't gonna happen. The banksters are trying to establish a cashless society and this would only push people in the other direction.

Unless cash was made illegal. "Tax evasion," you know.

[TnAndy]

Can't, without tipping the economy into a black hole.

The cash, underground economy makes up a certain % of the whole economy.....we can argue about how much ( my guess is around 20% ), but the point is IF they force us to go to a cashless society, that would simply dry up, and for the most part, cease to exist. ( How many drug dealers are gonna take VISA ? ).

The real problem is the secondary tier of that economy....where folks SPEND that underground cash.....like the grocery store, the gas station, and so on....that secondary tier DOES pay taxes on that income, sales tax, property tax, inventory tax and so on.....all THOSE taxes would also dry up.

In short, the govt is in a position where they simply can't afford to do much more than make a show of "going after" the underground economy, because they desperately need that economy to keep functioning.