BOHICA : Transaction Tax

[Zappa]

http://www.standard.net/node/44797

One percent transaction tax is proposed

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 paycheck 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.

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. Suggest that you pass this along and also to your state senator and representative and US Congressman and Senators.

 

[SSShooter]

I'll gladly bend over anytime he wants to kiss my behind

 

[DukeNukem]

Buy ammo people.

 

[Mr Weebles]

HR 4646 was introduced in February by Representative Chaka Fattah (D-PA) and has no cosponsors.

OpenCongress Summary:

Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Imposes a 1% tax on all financial transactions.

 

[DukeNukem]

So now we all will be 1% ers....cool.

 

[Bill Nance]

This is not going anywhere. It's ridiculous on it's face.

There's always some wackjob congress critter who introduces something that is so far out of any realm of possibility it's laughable.

 

[Rob Boudrie]

This is not going anywhere. It's ridiculous on it's face.

True. It would also spur a huge move to cash.

 

[MagGus1820]

This is not going anywhere. It's ridiculous on it's face.

There's always some wackjob congress critter who introduces something that is so far out of any realm of possibility it's laughable.

Yea but craziness is the in thing to do: we elected Deval, Coakley, Obama, and currently still have Deval leading the polls...............

 

[Garys]

HR 4646 was introduced in February by Representative Chaka Fattah (D-PA) and has no cosponsors.

OpenCongress Summary:

Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Imposes a 1% tax on all financial transactions.

I was just looking at that, thanks for saving me the effort of posting it. A bill with no co sponsors has no chance of passing. Even if it passed the House, it would have to go to the Senate for their consideration.

 

[Prepper]

I'd support this. Whatever takes money out of the banking system so that they have less to fund their evil deeds with, the better. (That's why it'll never happen.)

 

[Garys]

I'd support this. Whatever takes money out of the banking system so that they have less to fund their evil deeds with, the better. (That's why it'll never happen.)

It won't come out of the banking system, it will come out of your pocket. Just like every other tax. "Financial transaction" can mean buying a candy bar at the corner store. From what I read, this is a VAT, only it includes not just purchases, but deposits, withdrawals, ATM use, credit cards, and so on.

 

[Zappa]

With all the BS and shenanigans the democraps have gotten away with since they've held the whitehouse and congress, why does this seem beyond their realm of thinking?

 

[Prepper]

It won't come out of the banking system, it will come out of your pocket. Just like every other tax. "Financial transaction" can mean buying a candy bar at the corner store. From what I read, this is a VAT, only it includes not just purchases, but deposits, withdrawals, ATM use, credit cards, and so on.

Sorry I was in a hurry and hit reply too quickly. What I meant was, it will discourage people (like me) from wanting money in the bank. I will voluntarily take out just to say "screw you" to the bankers. There's something wrong with me... my ability to do sarcasm, and have it recognized as sarcasm, has been deteriorating lately.

 

[MisterHappy]

The danger in this sort of proposal is not in that it has been proposed, but that it has been proposed, and there is not a huge, nation-wide WTF? moment.

There is a significant subst of the population that see this as reasonable. After all, it will affect the rich more.....

 

[vicpinto]

I'd support this. Whatever takes money out of the banking system so that they have less to fund their evil deeds with, the better. (That's why it'll never happen.)

It's money out of your pocket not theirs... yet I still don't like your comment.

I bet you support massive taxes on those evil oil companies too. What "evil deeds" are you talking about? Profit? You sound like an anti capitalist.

 

[drumenigma]

That proposal is completely absurd. There is no way anyone aside from the writer could seriously support that bill. It reminds me of the movie Office Space where the guy wrote a program to skim the small amounts of change off each transaction. This is the same thing only it's legal theft.

 

[Kevin_NH]

Rep Fattah is an ultra-leftwinger with a history of proposing laws that go nowhere

The danger in this sort of proposal is not in that it has been proposed, but that it has been proposed, and there is not a huge, nation-wide WTF? moment.

There is a significant subst of the population that see this as reasonable. After all, it will affect the rich more.....

Individual reps can propose anything they like, and often do; Check out Fattah's legislative history. I think there was no nation-wide WTF moment, because nobody really reads or cares about the crazy legislation submitted by Chaka Fattah.

The Freemasons need to kick out this wackjob.