OREGON PING!
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Posted on 10/30/2010 10:28:10 AM PDT by econjack
This topic was posted here once before, but only 10 people commented on it! I can't believe that, since this tax applies to EVERY deposit you make to any financial account. And, it works on money going out of the account, too. So if you write a check to your child in college, you get charged 1% of the amount. Your child, when they deposit the check also gets charged 1%. Only 10 of you find that a bad idea! Come on...this should cause rioting in the streets!
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.
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.
Apologies for the doubled post (sigh...).
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
This Rake is Rape.
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.
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.”
It was too stupid to comment on.
It's also too stupid to get more than 10 votes in Congress.
These posts never have links to the proposed legislation.
Ever wonder why not?
Call it a loss of confidence in our government.
The attack on America from within continues!
All you have to do is Google HR-4646.
I hope you’re right...but what if you’re not? It’s an ounce-pound thingie...
After the thrashing they're about to receive, the Dems will try to avoid overtly stupid legislation, at least for a little while.
“correct me if I’m wrong. I thought that Oregon has no taxes”
LOL LOL LOL
Now crying, realty back.
When I did, I discovered that Defazio is NOT the one who introduced this.
P.S. I want him to lose to Robinson, anyway.
I rather agree.
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
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!
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