A New Tax ?

[StagLefty]

Someone just sent me this:

Subject: Another new idea from this wonderful Congress

Notice how all these lovely ideas are hatched by people with a (D) alongside their
names??

1% transaction tax

The bill is HR-4646 introduced by Chaka Fattah (D-PA). It is now in committee and will
probably not be brought out until after the Nov. elections to keep it under the radar. I
suggest that you pass this along to all in your address book and also to your state
senator and representative and US Congressman and Senators.

President Obama's finance team is recommending a transaction tax. A one-percent
transaction tax is proposed 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-deposited, 1% tax will be charged. If you hand-carry a check in to deposit, 1% tax
will be charged. If you take cash in to deposit, 1% tax will be charged. Didn't Mr.
Obama promise that if you make under $250,000 per year, you will not see one penny of new
taxes? Keep your eyes and ears open, this Congress is sneaky.

Some will say "aw, it's just 1%", but take a look at the banking transactions
you make or have made for you annually. This is in addition to all the other taxes we
pay daily (sales, property, state income, state & fed'l gas, tobacco, etc. etc.).
Remember: once the tax is there, it can be chamged at will in the future. And have you
ever heard of a similar tax being reduced?

I checked this on www.congress.org<http://www.congress.org/> and yes, it is true.
The bill was introduced by Chaka Fattah, (D-PA 2nd) and went to committees for action on
2/23/10. There are related Senate Bills S.2965, introduced by Sen. John Ensign (NV), S.10
introduced by Sen. Harry Reid (NV) and S.2853 introduced by Sen. Conrad Kent (ND).

These Senate bills mostly are concerned with the establishment of another federal agency
which reports to the President, the Vice President and Speaker of the House and various
other leaders of both chambers on the nation's long-term fiscal imbalances.

The gist of HR-4646 is as stated above, a 1% tax on all transactions using a payment
instrument, including any check, cash, credit card, transfer of stock, bonds or other
financial instrument. It also provides for an income tax credit, so what you pay in the
1% fee will be a deductible item only up to the extent it does not exceed your income tax
liability. This would impact the lowest-paying/earning members of our society the most.

As far as I can see, all we're getting out of this deal is another new federal agency to
staff and support and the highest taxpayers will have another new loophole. What kind of
arithmetic did these people learn?

"I contend that for a nation to try and tax itself into prosperity is like a man
standing in a bucket and trying to lift himself by the handle".

[ChunkyMonkey]

It won't even pass the committee. Mr. Fattah couldn't even find any co sponsors since the introduction of the proposal in February.

This is a typical left mentality - Let's reduce our debt by increasing tax!

[Byte Stryke]

I have a GREAT Idea...
I know it is going to sound REALLY radical and sort of extreme, but it seems to work around my house.

Lets stop spending money on Stupid shit!

No honey, you cannot jaunt about the country in a private aircraft rooting and raising private campaign funds for our friends because... we are broke


and well, we Just cannot afford anymore pay raises around the HOUSE lately. I think we need to cut some of it Back.


to be honest, if we do NOT Stop spending frivolously and start tightening down from the top we will have to shut the doors and get NEW MANAGEMENT

Just sayin