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1% Trasaction tax?!?!?!
www.standard.net ^ | Friday, July 9, 2010 | Lee Hoecherl

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


TOPICS: Business/Economy; Miscellaneous; Society
KEYWORDS: obamanation; transactiontax
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To: DBrow

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


41 posted on 09/10/2010 7:06:59 AM PDT by AU72
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To: SouthernBoyupNorth

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


42 posted on 09/10/2010 7:13:36 AM PDT by TexasRedeye (Eschew obfuscation)
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To: SouthernBoyupNorth

.


43 posted on 09/10/2010 7:15:34 AM PDT by Jane Long (America, while you were sleeping the Socialists took over.)
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To: halo66

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


44 posted on 09/10/2010 7:23:28 AM PDT by rickb308 (I love watching libruls heads explode as they see their karma run over their dogma.)
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To: SouthernBoyupNorth

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”.


45 posted on 09/10/2010 7:24:34 AM PDT by fruser1
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To: Leftism is Mentally Deranged

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.


46 posted on 09/10/2010 7:25:16 AM PDT by NEMDF
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To: NEMDF

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


47 posted on 09/10/2010 7:27:18 AM PDT by NEMDF
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To: SouthernBoyupNorth

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


48 posted on 09/10/2010 7:27:24 AM PDT by Redleg Duke (RAT Hunting Season started the evening of March 21st, 2010!)
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To: rickb308
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.
49 posted on 09/10/2010 7:30:11 AM PDT by halo66
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To: rickb308

Found it! Thanks, again.

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


50 posted on 09/10/2010 7:33:27 AM PDT by halo66
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To: SouthernBoyupNorth

http://tinyurl.com/24dn5ud


51 posted on 09/10/2010 7:40:04 AM PDT by lonestar (Barry is furious the big spill wasn't caused by EXXON...would have nationalized it by now.)
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To: whitedog57; neverdem; narses

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.


52 posted on 09/10/2010 7:49:24 AM PDT by Robert A Cook PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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To: SouthernBoyupNorth

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.


53 posted on 09/10/2010 7:57:09 AM PDT by jbp1 (be nice now)
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Comment #54 Removed by Moderator

To: jbp1

Stopping business. That is the goal.


55 posted on 09/10/2010 8:00:33 AM PDT by Kakaze (Exterminate Islamofacism and apologize for nothing....except not doing it sooner!)
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To: Kakaze
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”?

56 posted on 09/10/2010 8:13:42 AM PDT by PSYCHO-FREEP ( Give me Liberty, or give me an M-24A2!)
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To: SouthernBoyupNorth
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.

57 posted on 09/10/2010 8:22:40 AM PDT by The Great RJ (The Bill of Rights: Another bill members of Congress haven't read.)
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To: SouthernBoyupNorth

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.


58 posted on 09/10/2010 8:49:10 AM PDT by cicero2k
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To: The Great RJ

The Government is becoming the bank and vise versa.


59 posted on 09/10/2010 8:51:06 AM PDT by yesca ("..don't touch that)
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To: SouthernBoyupNorth
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.

60 posted on 09/10/2010 8:55:14 AM PDT by Non-Sequitur
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