1% Tax on ALL Financial Transactions

Congressional Record | Oct. 30, 2010

[SAJ]

Apologies for the doubled post (sigh...).

[RnMomof7]

My husband is having hissy fits about this.. We need to think..what is 1% of your pay check automatic deposit? How about the checks you write ?

Will the banks raise fees to cover the “extra” work?

Lets hope it dies a quick death

[Surrounded_too]

This Rake is Rape.

[JoeFromSidney]

You would be punished for putting your money in the bank, so you'd stuff it in your mattress instead.

Stuffing a paycheck into a mattress doesn't help much. You have to cash the thing. After that, though, you can operate on a cash basis.

You can't buy things on the Internet on a cash basis. That would put quite a crimp in my buying.

[dfwgator]

Peter: “That virus you’re always talking about, right? The one that could, uh, rip off the company for a bunch of money.”
Michael: “Yeah, what about it?”
Peter: “Well, how does it work?”
Michael: “It’s pretty brilliant. What it does is, every time there’s a bank transaction where interest is competed, you know, thousands a day, the computer ends up with these fractions of acent, which it usually rounds off. What this does is, it takes those little remainders and puts it into an account.”
Peter: “This sounds familiar.”
Michael: “Yeah, they did it in Superman III.”
Peter: “Right.”
Michael: “Yeah. Underrated movie, actually. And then there were a bunch of hackers, did it in the ‘70s as well. One of them got busted.”
Peter: “Well, so they check for this now.”
Michael: “No, here’s the thing. Initech’s so backed up with all the software we’re updating for the year 2000, they’d never notice.”
Peter: “You’re right. And even if they wanted to, they couldn’t check all that code.”

[Toddsterpatriot]

This topic was posted here once before, but only 10 people commented on it!

It was too stupid to comment on.

It's also too stupid to get more than 10 votes in Congress.

[Atlas Sneezed]

These posts never have links to the proposed legislation.

Ever wonder why not?

[Sarajevo]

Hairbrained schemes like this are making me seriously consider offshoring any funds I currently have in US banking facilities, whether it passes or not.

Call it a loss of confidence in our government.

[Spitzensparkin1]

Add to this the provisions in ZERO-care (AKA o-bummerCare) that allow gov’t access to all bank accounts and adds 1600 new IRS agents to enforce the new health laws and it seems plain enough. He is sticking it to the middle class on purpose, because to him and his "czars", we are as he recently put it, "the enemy".

The attack on America from within continues!

[econjack]

All you have to do is Google HR-4646.

[econjack]

I hope you’re right...but what if you’re not? It’s an ounce-pound thingie...

[Toddsterpatriot]

I hope you’re right...but what if you’re not?

After the thrashing they're about to receive, the Dems will try to avoid overtly stupid legislation, at least for a little while.

[Atlas Sneezed]

http://www.snopes.com/politics/taxes/debtfree.asp

[Salvation]

**US Rep Peter DeFazio D-Oregon**

 

OREGON PING!

 

If you aren't on this ping list and are interested

in articles about Oregon, please FReepmail me.

[Cold Heart]

“correct me if I’m wrong. I thought that Oregon has no taxes”

LOL LOL LOL

Now crying, realty back.

[1_Rain_Drop]

oh great :(
now I'm crying

[newberger]

All you have to do is Google HR-4646.

When I did, I discovered that Defazio is NOT the one who introduced this.

P.S. I want him to lose to Robinson, anyway.

[El Sordo]

I rather agree.

[Nailbiter]

ping
So I am required to use direct deposit for paycheck, my income is already taxed, govt going to tax me again to get the money, then again when I spend. This on top of sales what a bunch of aholes

[tob2]

I just heard about it this week, and I’m boiling mad. With all these fees, it could conceivably wipe out my retirement check. Leave it to the liberals to have their hands in your pocketbook!