Posted on 08/31/2011 3:10:53 PM PDT by IbJensen
Snopes says that Congressman DeFazio is one of the co-sponsors. Here’s what he has to say:
http://www.defazio.house.gov/index.php?option=com_content&view=article&id=642&Itemid=129
The fact is that this is a pant load of BS. Cong. Chakka Fattah ( formerly known as David Davenport before he decided to “find his African roots) launched this turd last year and it did die in committee. Do you really think that the Republicans would push something like this? I know, don’t answer, because they are just stupid enough to try.
I think I read that this came out in 2010 first. It’s right up there with that nickle tax on all emails to help the PO dept. since their first class mail is way down.
I think I read that this came out in 2010 first. It’s right up there with that nickle tax on all emails to help the PO dept. since their first class mail is way down.
Huh?? If they raise my taxes, it is not going to help ME be debt free!
That’s what my husband said.
But will Hawala be taxed :)
It say it gonna be tack on to all trazackshuns. Do dat mean on my welfair cheks?
Now. I ax you izzt fair?
Amusing but this is a crock of Horse $hit.
Yet Zero is my HERO!
Good one, some of the folks will believe anything Zero says, and others will believe any thing others say about him.
Yeech what a piece of dog doodie or leader is.
Caddis the Younger
Sponsor: Rep. Chaka Fattah [D-PA2]
Chaka that up to stupid Fattah.
Where you get names like dis?
"There's no way to rule innocent men. The only power government has is the power to crack down on criminals. When there aren't enough criminals, one makes them. One declares so many things to be a crime that it becomes impossible for men to live without breaking laws." - Ayn Rand, "Atlas Shrugged," 1957
Mark
OpenCongress Summary
This bill seeks to eliminate the national debt by repealing the individual income tax and adding a new 1% tax on all financial transactions, including all consumer transactions like uses of cash, check and debit. It would also repeal refundable and nonrefundable personal tax credits and the alternative minimum tax (AMT). This bill has not attracted any co-sponsors, moved in the legislative process, or gotten any attention from congressional leaders. There is virtually zero chance of it moving in Congress. For more information, see this OpenCongress blog post: Vast Majority of Bills Go Nowhere (Debt Free America Edition).
“eliminate sales taxes, income taxes and others and replace it with a 1% transaction tax.”
sounds great to me, but of course the feds will just add it to all the current taxes.
but as stated it’s a very profitable deal for me
Don't get too cocky, no truly bad liberal/democrat/socialist/communist idea ever really dies.
bkmk
...............This is a 1% tax on all transactions at any financial institution .......................
No, this a 2% tax, because you pay another 1% when you take money back out of your account, via check, debit card, cash withdrawal.
Sneaky little communist bastards aren’t they!
This is insane. It would cause an immediate run on bank deposits, resulting in the collapse of the banking system. Rich & poor alike would find other places to keep their money.
Bear in mind that banks are paying less than 1% PER YEAR on savings, so there is little incentive to keep money in the banks now beyond security & convenience. With the advent of electronic payments, credit cards, & the like, people could avoid using a bank completely. Banks would literally be taxed out of business.
More Marxist methodology from Liberals to destroy this country.
"Oh, yeah! We forgot about those! Tax on those babies, too! Cash? Every time you buy something, that money is going into a bank eventually, so we'll just tax that, too. Oh, and the new currency with the RFID chips just found $5,000 under your bed. A bed gives about the same interest a savings account does, so we'll call it a bank. Tax!!"
Dick Obama will make sure they get a cut, so they will like it.
It is a lot worse than that. When you withdraw money that is also a "transaction." Actually it comes down to a wealth tax on cash. The tax is a minimum of 2% because it get s taxed each time it moves in or out or laterally.
If this crap goes through, you are going to have a serious Second American Revolution. Every “B” that votes for this will get voted out of office.
Mad as hell and not going to take it anymore!
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