FW: 1% Transaction Tax

Subject: FW: 1% Transaction Tax

Subject: 1% Transaction Tax
This is a House bill. If this doesn't make you contact your congressman, nothing will.

Too bad we didn't kick out enough of Obama's idiots from the Senate as well.

Subject: 1% tax on all bank transactions HR4646

Watch for this AFTER November elections; remember this BEFORE you VOTE in case you think Obama's looking 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!

1% tax on all bank transactions HR 4646 - ANOTHER 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...

        ...[2010] 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...


Anonymous said...

Once again Wing Nuts quote Snopes when Snopes doesn’t actually support their BS



Anonymous said...

Great research Dominic!

ferschitz said...


This is ancient history. Chakah Fattah apparently did introduce this legislation in *2004* but "it went nowhere." However, it appears that Fattah's intent, whether misguided or not, was to use this tax *instead of* the Fed Income tax, as a means of revenue.

Yet another example of rightwing lying propoganda sent out to credulous conservatives to gin them up against their ersatz "enemies," the dreadful "Democrats." Yeah, the so-called "Democrats" who actually play on the same team as the putative "Republicans."

Which Team is that? Why the Team comprised of the mega-rich, the upper 2%.

This lying junk is sent out by rightwing think-tanks to *distract* the easily misled, who can't be bothered to run a simple google search, which will quickly debunk lies, hype & spin, like this.

Suck on it, dweebs. You're being brainwashed by the rich and the powerful.

Mysophobe said...

Dat guy say snopes say it legit, so it must be legit. No point me checkin for myselfz.

At first I thought it was a perverted take on a proposed tax/fee on individual market trades, an idea which seems like an excellent way to recoup some of what wall street has stolen from main street.

Thx 4 Fish said...

This of course, is pre-Tea Party Congress, whose goal appears to be to bring the country to its knees if any new taxes are ever enacted. I'm sure I'll get the forward from MRWD though, who can't remember that he sent it to me twice already. It used to be only slimy conmen who would take advantage of the elderly.

Anonymous said...

This is just another way to rip us off! They don't need any more tax money. They have lost sight of just exactly whose money it is. They fritter it away on stupid stuff. As for this idea going back to 2004 or whatever, NANCY PELOSI, the queen of welfare recipients is on youtube talking about what a great idea this is. Get to know the facts.

Anonymous said...

You have a strange definition of "facts."

Anonymous said...

They fritter it away on stupid stuff

Agreed. Two stupid wars and 30 years of tax cuts for the rich were definitely a bad idea. If not for those stupid decisions we would be in a lot better fiscal condition.

gruaud said...

"This is just another way to rip us off! They don't need any more tax money. They have lost sight of just exactly whose money it is."

God, I love it when teabags try and sneak in the last word. We always catch you, and you always end up looking dimwitted.

Always try and sneak in the last word. We'll be waiting.

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