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 A one percent transaction fee (TAX), proposed by President Obama's finance team, is recommending a transaction tax. His 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 pay check 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 ten bucks just for the privilege of depositing your pay check in your bank. Even if you hand carry your paycheck or any check in to your bank for a deposit, 1% tax will be charged. You receive a $5,000 stock dividend from your broker, Obama takes 50 bucks just to allow you to deposit that check in the bank. If you take $1,000 cash in 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 guys 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 else 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 from last years banking statements. When you add the total of all the transactions you did last year, then deduct 1%. Still think it's no big deal??? http://www.standard.net/node/44797 http://www.statehouse.org/
I think this is a phony email. The actual bill is even more bizarre (it's for a 1% tax on all transactions, including stock -- plus the elimination of the income tax): http://www.govtrack.us/congress/billtext.xpd?bill=h111-4646 I strongly doubt it would work -- it would just cause people to stop "transacting".
http://thehill.com/opinion/columnists/lanny-davis/107351-a-debt-free-america-yes-its-possible Not stock transactions. This will never see the light in the hallway anyways.
And some of you are laughing at the Europeans for protesting??? Shit, at least the Europeans can gather 2-3 million people and really tell the stupid politicians they don't want this kind of crap. Where the hell are the protesting Americans??? http://www.marketwatch.com/story/chevron-throws-book-at-shareholder-2010-09-28?dist=afterbell
Why, don't you know? We're all right here on elitetrader.com. Most Americans are too concerned about which tablet pc to purchase, to be worrying about public affairs. What's wrong with you dude???
This is a bill by a lunatic who's been sponsoring this bill since 2004 and can't even find a cosponsor for the bill. Whatever.
They don't want this kind of crap? You mean governments balancing their budgets? Are you aware of the debt crisis in Europe?
Europe already has all of this crap...that is what will destroy them. These people protesting are widow-makers. They are toast, they will never get what they want because the fate of nations is at stake and Germany will continue to hammer these Countries to get their shit together or else. Liberal, socialists Countries who promise the world to the people for votes and have to tax everything in site (VAT, Britain has FTT, etc.)...then they realize they have choked off all prosperity and they fall into abyss.