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Help Fill The Tank!
How About It? Huh?
It Ain't Askin' Too Much
Ya Know....
Posted on 10/27/2010 7:01:24 AM PDT by ADSUM
U.S. Rep. Chaka Fattah, D-Pa., has proposed a plan for eliminating the multi-trillion-dollar national debt: Tax everything.
Earlier this year, Fattah introduced H.R. 4646, the "Debt Free America Act," which would impose a massive new tax for a period of seven years, while the national debt is being paid off. And once the debt is paid, the bill would eliminate the individual income tax, supplanting it with the new, "transaction" tax instead.
Specifically, H.R. 4646 would levy a 1-percent tax on every transaction of any kind that uses check, cash or credit cards (with a path in place for also taxing stock transfers), whether done at the bank, grocery store, nail salon or even through the Federal Reserve.
In other words, if a man deposits his paycheck into the bank, there would be a 1-percent tax levied on the "transaction." When the same man then withdrew the money through an ATM, there would be another 1-percent tax. When he spends the money to have his car's oil changed, there would be another 1-percent tax, and so forth.
(Excerpt) Read more at wnd.com ...
I suggest that it be implemented on a trial basis in Rep Chaka Fattah (D) Congressional District in PA. Perhaps he can be voted out of office.
His constituents likely wouldn’t mind because they mostly deal in the underground economy, LOL.
Employers in U.S. Start Bracing for Higher Tax Withholding
Everything they propose involves a tax.
This bill is going nowhere. It was assigned to the appropriate committee and the committee never even scheduled a hearing on it, which means that it can’t even be marked up. This is about the 8th time that I know of a story about it has been posted. It is such a bad bill that not even the Dems went for it. This bill will die when the current Congress adjourns, and no doubt he will try to introduce it again. But I predict that, again, it will die a slow painful death. There are a lot of things to worry about, this isn’t one of them.
We should pay the debt off by cutting the Federal Budget 10%/year and using the savings to retire debt.
My thoughts exactly. All this does is open the door for a “black market” in the U.S. and lots more “under the table” transactions.
I agree. The bill doesn’t even have a single co-sponsor.
http://thomas.loc.gov/cgi-bin/bdquery/z?d111:H.R.4646:
Let’s bring back the bartering system.
This pol is WAY behind the curve.
Tax everything?
THEY ALREADY DO!!
Fattah comes from a Philadelphia district which would gladly elect the devil himself as long as he was the Democrat.
I think it's alive and well in "the hood"
using drugs and prostitution
You Know The Drill
Click the Pic
Help Fill The Tank!
How About It? Huh?
It Ain't Askin' Too Much
Ya Know....
I wonder if welfare, social security and food stamp benefits/checks would be taxed also?
Well, if at first you don’t succeed in destroying the private banking industry....
Try
Try
AGAIN!
I have a better idea for the asshole: How about cutting spending down to almost 0 for 7 years until the deficit is paid off?
Most valuable (in order):
1. Ammo
2. Water
3. Guns
4. Food
5. Gas
Cut back on political luxuries. They don't need a private Washington gym and spa for gawds sake! Forget the million dollar dinners. Serve hot dogs like everyone else - unless they're using their own...er...our own money they scammed from under the table deals.
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