1% tax on all bank transactions HR4646

[MIKEMCKEE]

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! I sure hope this dies!!!!

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.

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 che ck 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?
...is proposing a 1% tax on debit card usage and/or banking transactions. Examples: [Collected via e-mail, July 2010] The Transaction Tax! WHAT THE...
...President Obama's finance team and Nancy Pelosi are recommending a 1% transaction tax on all financial transactions. It is true. The bill is HR-4646...
...only 1%! This is a 1% tax on all transactions to or from any financial institution i.e. Banks, Credit Unions, Mutual funds, Brokers, etc. Any deposit...
Fri, 02 Sep 2011 11:26:09 GMT snopes.com: Debt Free America Act

[BentSailor]

Funny, I too looked it up on snopes - seems you either copy/pasted someone else's bullsh*t claim or you lied about checking it out.

Here are some snippets from the very link you obviously don't think anyone is going to click on:

Some members of Congress have what might be termed "hobby horse" issues: concepts about which they introduce legislation in Congress after Congress, although their bills never come close to passing, or even clear committee to be put to votes in the first place. The hobby horse of Representative Chaka Fattah of Pennsylvania is the notion of eliminating all federal taxes on individuals and corporations and replacing them with a revenue-generating system based on transaction fees (a concept he originally called the "Transform America Transaction Fee" and now refers to as the "Debt Free America Act").

Like Rep. Fattah's other Congressional efforts along these lines, his Debt Free America Act has no sponsors other than himself, has been languishing in committee ever since it was introduced, and has about as much chance of passing as a snowball does of surviving hell. Thus, although e-mailed warnings about a "1% transaction tax" do reference a real piece of proposed legislation, the amount of attention those warnings have garnered vastly, vastly outstrips any real possibility that such legislation will actually be enacted.

Neither "President Obama's finance team" nor Nancy Pelosi is "recommending a 1% transaction tax." The proposal for the Debt Free America Act is purely the effort of a single congressman, with no outside support.

Yet another crock of cr@p peddled out to panic the masses with little basis in fact

[OlderandWiser]

Agree I read snoops also. Nothing to worry about

[SloopJonB]

Originally Posted by OlderandWiser

Agree I read snoops also. Nothing to worry about

As if something like that could pass without a second Revolution.

[bwalker42]

Chaka Fattah - Wikipedia, the free encyclopedia

The bill's author, supported O you know who

[SloopJonB]

Originally Posted by bwalker42

Chaka Fattah - Wikipedia, the free encyclopedia

The bill's author, supported O you know who

Not exactly surprising.

[BentSailor]

So did alot of other people (you do realise he was voted in right?). Doesn't make it Obama's policy nor somehow nullify the fact the post in question contained outright falsehoods.

Supporting someone does not mean everything you do is their fault. Some blame for their actions might be laid at your feet, but it doesn't work vice versa.

[steel]

That would encourage people to stop using the US banking system. I don't think that's something the government would want to have happen. I don't really believe this is something that would ever pass because of that.