Posted on 09/10/2010 6:40:23 AM PDT by SouthernBoyupNorth
Forgive me if this is previously posted.... I just can't believe they are going to try this crap.
I checked this out and it is true. There will be a 1% transaction tax on any financial transaction with the exception of purchase and sale of stock. If we make a $500 ATM withdrawal, we will pay $5 tax, and $300 on a $30,000 car purchase.
I checked this out on Truth or Fiction and it is true. The bill is HR-4646 introduced by US Rep Peter deFazio D-Oregon and US Senator Tom Harkin D-Iowa. It is now in committee and will probably not be brought out until after the Nov. elections.Suggest that you pass this along and also to your state senator and representative and US Congressman and Senators.
One percent transaction tax is proposed President Obama's finance team is recommending a transaction tax. His plan is to sneak it in after the November election to keep it under the radar. This is a 1% tax on all transactions at any financial institution i. e. Banks, Credit Unions, etc.. Any deposit you make, or move around within your account, i. e. transfer to, will have a 1% tax charged. If your pay check or your social Security or whatever is direct deposit, 1% tax charged. If you hand carry a check in to deposit, 1% tax charged, If you take cash in to deposit, 1% tax charged.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.
Some will say aw it's just 1%... remember once the tax is there they can raise it at will.
http://www.standard.net/node/44797
And there is also a bill to bring back the draft, but that’s going nowhere.
But....but...this won’t apply to the “middle” class. Remember, Obama said so!
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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”.
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.
Pay $1,000 on your credit card, you’ll get whacked twice for $10 each time, sounds like.
I’ll bet it won’t apply to money transfers to Mexico and Central America!
Found it! Thanks, again.
http://www.redcounty.com/content/120-days-left-until-largest-tax-hikes-us-history
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.
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.
Stopping business. That is the goal.
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”?
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.
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.
The Government is becoming the bank and vise versa.
Which is why something like this will never get passed.
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