1% Trasaction tax?!?!?!

www.standard.net ^ | Friday, July 9, 2010 | Lee Hoecherl

[AU72]

And there is also a bill to bring back the draft, but that’s going nowhere.

[TexasRedeye]

But....but...this won’t apply to the “middle” class. Remember, Obama said so!

[Jane Long]

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[rickb308]

http://articles.moneycentral.msn.com/Investing/JubaksJournal/get-ready-for-the-big-tax-squeeze.aspx?ucpg=9

[fruser1]

You’re reading it wrong. This is the VAT bit.

When they say “transaction” they are referring to payment for goods or services.

A deposit/withdrawal into your account is not a “transaction”.

[NEMDF]

Right. Write a $100 check for groceries, feds get $1. Transfer $1,000 from your savings to your checking account, feds get $10. Paycheck gets direct deposited to your checking account, 1% of pay goes to feds. Transfer your own money back and forth a few times... there will be none left.

[NEMDF]

Pay $1,000 on your credit card, you’ll get whacked twice for $10 each time, sounds like.

[Redleg Duke]

I’ll bet it won’t apply to money transfers to Mexico and Central America!

[halo66]

Thanks...that is not the article that I was referring to, though. The article that I saw broke down 2011 taxes into 3 phases and it was on a anti-big government tax website.

[halo66]

Found it! Thanks, again.

http://www.redcounty.com/content/120-days-left-until-largest-tax-hikes-us-history

[lonestar]

http://tinyurl.com/24dn5ud

[Robert A Cook PE]

Did you notice where the demo’s are going to claim that “only the rich” will get this tax? There’s an AGI limit and declining fee from individuals (somehow ?) put in there as well. But then the tax on ALL financial transactions is paid BY the banks and credit unions and ATM machine operators, not the individual. (Sole proprietors maybe ?)

This is another “write the bill”, “figure it out later” Pelosi dream/scam.

[jbp1]

wow, maybe the math is wrong, but if you pay any bill once a month, then that is an effective 12% a year you are paying.

This would bring in one incredible amount of $$ for the feds.

the idiots who voted for the sponsor of this bill need to vote that dumb whack job out.

[Kakaze]

Stopping business. That is the goal.

[PSYCHO-FREEP]

The Dims are simply waiting to see what happens in November before they make their move. If they lose, we get “payback” in the form of a VAT tax, Cap & Tax, Amnesty, this stupidity, as well as countless other unconstitutional assaults.

And, the Amerikan Publik is too stupid to understand what is happening, or has no clue that they have lost all their freedom and liberty in one short Lame-Duck session. Hell, ask most of them what a Lame-Duck session is and they stare emptily back at you and say; HUGH ? What's a “Lame Duck”?

[The Great RJ]

So the government will tax me 1% for the privilege of paying my bills or putting my paycheck into the bank. This could easily cost the average American hundreds of dollars a year in new taxes. One might as well plan to do like they did in the 1930s when banks were shaky...get your pay in cash and do all your transactions in cash.

Of course the government will lie and blame the banks for this new “fee”. Someone should explain this to the union hacks in Iowa who keep electing Tom Harkin to the US Senate.

[cicero2k]

Remember in the 1990s, many new taxes were characterized as “investments”, because the government knows best.

Then we had the “fees” we are still paying today on our phone bills to, for example; make sure each and every school was wired for the internet. The wiring job is completed, the tax continues to be levied.

This is similar to toll collection on the New Jersey highways. Only temporary until the road is paid for. Now in Colorado, where I now live; they built a toll road from Denver to Boulder, but actually stopped collecting the tolls when the highway was completed.

[yesca]

The Government is becoming the bank and vise versa.

[Non-Sequitur]

Ya but when was the last time a tax was repealed? Seriously... if something like this ever does get passed do you honestly think Income tax will be repealed? I have my doubts.

Which is why something like this will never get passed.