Skip to comments.1% tax on all bank transactions [or not, see post 4]
Posted on 08/31/2011 3:10:53 PM PDT by IbJensen
Watch for this AFTER November elections; remember this BEFORE you VOTE ... in case you think Obama'slooking out for your best interest.
1% tax on all bank transactions HR 4646
This government just cannot think of enough ways to hurt the American people!This Bill must die FORWARD THIS TO EVERYONE YOU KNOW!!
NEW OBAMA TAX SLIPPED IN WHILE WE WERE ASLEEP. Checked this on snopes, it's true! Check out HR 4646. (see below copied from Snopes)
President Obama's finance team is recommending a one percent (1%) transaction fee (TAX). Obama's plan is to sneak it in after the November elections to keep it under the radar.
This is a 1% tax on all transactions at any financial institution - banks, credit unions, savings and loans, etc. Any deposit you make, or even a transfer within your account, will have a 1% tax charged.
~If your paycheck or your social security or whatever is direct deposit, it will get a 1% tax charged for the transaction.
~If your paycheck is $1000, then you will pay Obama $10 just for the privilege of depositing your paycheck in your bank.
Even if you hand carry your paycheck or any check into your bank for a deposit, 1% tax will be charged.
~You receive a $5,000 stock dividend from your broker, Obama takes $50 just to allow you to deposit that check in the bank.
~If you take $1,000 cash to deposit at your bank, 1% tax will be charged.
Mind you, 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 about this guy's under-the-table moves to increase the number of ways you are taxed.
~Oh, and by the way, you receive a refund from the IRS next year and you have it direct deposited or you walk in to deposit that check, you guessed it. You will pay a 1% charge of that money just for putting it in your bank. Remember, any money, cash, check or whatever, no matter where it came from, you will pay a 1% fee if you put it in the bank.
Some will say, oh well, it's just 1%. Are you kidding me? It's a 1% tax increase across the board. Remember, once the tax is there, they can also raise it at will. And if anyone protests, they will just say, "oh,that's not really a tax, it's a user fee"! Think this is no big deal? Go back and look at the transactions you made from last year's banking statements. Then add the total of all those transactions and deduct 1%.
Still think it's no big deal???
1. snopes.com: Debt Free America Act Is the U.S. government proposing a 1% tax on debit card usage and/or banking transactions? ....It is true. The bill is HR-4646 introduced by US Rep Peter deFazio D-Oregon and US Senator Tom Harkin D-Iowa. Their plan is to sneak it in after the... ....moved beyond proposing studies and submitted the Debt Free America Act (H.R. 4646) , a bill calling for the implementation of a scheme to pay down the... .... by Rep. Chaka Fattah (D-Pa.). His "Debt Free America Act" (H.R. 4646) would impose a 1 percent "transaction tax" on every financial transaction...
I predict that if they keep on trying as they are with this POS, then they've created an atmosphere very like Madrid in 1936.
Sounds like the Stamp Act all over again.
This is going to piz a LOT of democrats off.
Spread the news.
I guess I’ll just transition over to cash and money orders.
Do you have a credible link to support this?
the ONLY reason this country hasn't succumbed to be a third world country is because MOST citizens obey laws and pay taxes....
that could end pretty quick...
I guess one thing to do is to increase your deductions so the govt doesn't get as much money thru out the year....
It’s true (as of this writing) that there’s a bill in the House of Representatives (H.R. 4646: Debt Free America Act) which would impose a one percent tax on financial transactions if passed, and it’s also true that the bill was introduced by a Democrat (Rep. Chaka Fattah, Pennsylvania). However, the legislation has zero co-sponsors, nor has it even been acknowledged, let alone supported or endorsed, by the Obama administration. It is expected to go nowhere.
Rep. Fattah has introduced similar bills before over the past six years or so, obviously without success. In a September 2010 interview with Brooks Jackson of FactCheck.org, Fattah said no one at the White House has commented on the current House bill in any fashion.
Thank you, I was just about to start having hysterics. Isn’t there a policy on FR that “articles” are not posted that don’t have a reliable source? (Which I don’t think “email” is.) Unless they are specified as “vanity post”? This is serious stuff and people should verify. Our lives and freedoms are on the line in this next election.
Can business pass along this fee?
and remember the anger towards the ATM fees!
Interestingly, according to Wikipedia the bill also repealed the federal income tax.
Read where SNOPES was caught out on some untruths. SNOPES is backed by Soros and is run by a husband and wife team. There was something about Kagan and Obama they said was not true but come to find out it was. Had to do with dockets on the Supreme Court. And that thing about taxing bank deposits is an urban legend. See http://urbanlegends.about.com/od/barackobama/a/Obama-One-Percent-Transaction-Tax.htm
Will you ask the mods to delete your thread or shall we? Here’s the gun........
Well...I wants to know...how duz this affeck me? Will my EBT deposit, my EITC deposit, my AFDC deposit, my SCHIP depozit ekcetera get this heer taks? Huh? I reely wants to know....
Problem is, a lot of democrats just don't think logically about issues like this and tie it into Obama and the Democrat policies. Talk to them, and you will find they are painfully ignorant of the real world. "They are doing it to us!" Who is they? "Them Republicans!"
Seriously. The Left can and will spin this as the "Tea Party's fault" or the Republicans' fault, and people will actually believe it.
This is BS and shouldn’t be on FR. Just makes us look bad. This is an obscure bill that has been around since 2004 at least. It was proposed by a congressman that wanted to eliminate sales taxes, income taxes and others and replace it with a 1% transaction tax. It has NO sponsors other than the congressman that proposed it and would never get out of committee, much less pass the House. Let’s use our efforts to fight Obamacare, debt ceilings, spending, etc. etc. rather than waste our time with this crap.
Is there anything the government won’t tax?
Next they’ll be putting a tax on the taxes we pay!
Yes, True is “Mostly False” for the Hussein Head Mikkelsons.
They put out around 300 articles A DAY to support the fraud.