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Please Pay Very Close Attention to H.R. 4646

Discussion in 'Politics, Elections & Legislation' started by claykiller, Oct 16, 2010.

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  1. claykiller

    claykiller Member

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    There goes more of your money. But you were not suppose to know this until after the Nov Elections!

    Snopes says it’s true

    H. R. 4646

    I have gone into THOMAS (Library of Congress) and printed out and read all 15 pages of this bill which has been given the "Short Title" of "Debt Free AmericaAct." It is the most socialistic thing I have ever read. Just think, if you deposit $5,000.00 into your checking account or savings account the bank has to take out 1% or $50.00 of that money and send it to Washington. Then, any checks or cash you take out of your bank they will deduct 1% from what is still in the bank and send it toWashington. Total put in the Bank $5,000.00. $100.00 of that you give toWashington.

    This bill, spells it out that everyone will pay the Government 1% of their gross income.

    Page 9 states the House and Senate shall convene not later than November 23, 2010 and Page 11 states the vote on passage shall occur not later than December 23, 2010.

    SEND THIS TO EVERYONE YOU KNOW AND EVERYONE NEEDS TO CONTACT THEIR CONGRESSMAN AND SENATOR AND TELL THEM TO VOTE NO ON THIS BILL.

    If you don't know who your Congressman or Senator is, go to Google, type in "(your state) Congressman email address".

    When it comes up, click on "Complete E-mail address for Congress/House, Senate, Governors and get both e-mail and

    FAX info.

    The bill is HR-4646 introduced by

    US Rep Peter DeFazio Dem-Oregon and

    US Senator Tom Harkin Dem-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.


    One percent transaction tax is proposed

    President Barack Hussien 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 pay check 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.

    MR CHANGE HIMSELF.....

    HOW YA LIKE HIM NOW....!!!

    Keep your eyes and ears open, you will be amazed at what you learn.

    Some will say aw it's just 1%...

    remember once the tax is there they can

    raise it at will.

    November 2010.....VOTE!!!!!
     
  2. Frank C

    Frank C Well-Known Member

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    It will never pass....people will stop using banks
     
  3. hoggy

    hoggy TS Member

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    But 1% every single time over and over again adds up to much more than you realize. Evn if you take all your money out of the bank you'll have to cash your paycheck, SSC etc somewhere.
     
  4. pyrdek

    pyrdek Well-Known Member

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    Now let me see. The bank is paying 0.5% interest on my savings account. They will take 1% out of every deposit, they will take out 1% of every withdrawal. Now the 0.5% interest is annual which means that only 1/12th takes place every month (0.041%). BUT the 1% tax is on every transaction, and that includes paychecks or deposits from a business. Yep, sounds like a money maker for the Feds. Then remember, the bank, because of the extra paper work and accounting needs costs, will be forced to recoup that money somehow. Can you say lower the interest rate to 0.0%.

    Then when you spend it for, say a bag of shot, that money AGAIN is hit with a 1% tax on the merchant. That cost to the merchant will also make him or her have to recoup their loss so, whet happens? Yep, prices go up again and incidentally, so does the tax collected.

    Or keep it in your mattress and save 2%. The merchant goes out of business and no more taxes are collected on what they used to sell.

    Yep, that is a real good deal for everyone now ain't it? (That is called sarcasm!)

    Only a Philadelphia, (bought and paid for Socialist) Congressman from PA could dream up such a monstrosity! Congressman Chaka Fattah, D-PA is sponsoring HR 4646 titled Debt Free America. Yep a Democrat Socialist (but I repeat myself) that will be reelected by his district of moronic imbeciles came up with this.
     
  5. BFJ201

    BFJ201 TS Member

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    From the govtrack.us website.

    2/23/2010--Introduced.
    Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.

    It appears to repeal the income tax after 2017 but no way will they actually let the income tax be repealed that's just a rouse to get it passed. then just as its supposed to be repealed they'll re-implement it.

    James Allen
     
  6. slowdp

    slowdp TS Member

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    Yep, the Democraps what this. Pelosi is leading the pack.

    http://itmakessenseblog.com/2010/09/15/pelosi-on-1-transaction-tax/

    She thinks the government could use the extra money for more stimulus.

    http://www.cnsnews.com/news/article/58099

    Read it and weep.
     
  7. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Deplorable Bitter Clinger in Liberal La La Land
    We had a tea party a couple hundred and some years ago over a transaction tax called the Stamp Tax Act. I guess our elected officials didn't learn about that one in school or forgot, or thought we'd forget.
     
  8. zeroed4x

    zeroed4x TS Member

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    Get a Rope, follow me......
     
  9. The Rock

    The Rock Active Member

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    Not as bad as you may think.

    It is to REPLACE INCOME TAXES ALSO.

    2/23/2010--Introduced.
    Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax.

    Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.

    Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance.

    Provides for expedited consideration by Congress of Task Force recommendations.

    Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals.

    Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.
     
  10. sernv99

    sernv99 Active Member

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    last action on this bill was back in Feb. of this year....with people out of work and the economy still weak, I don't see this becoming law. It is a nail in the coffin for any politician looking to hold onto power...
     
  11. Big Az Al

    Big Az Al Well-Known Member

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    It may be a nail in the coffin of any politician that votes for it,

    BUT

    so was health-care reform and bailouts

    After the coming election there will be a couple of months of lame duck congress.

    A couple of months to pay US back for not seeing the light and staying the course!

    We MAY NEED those ropes!

    AL
     
  12. Cray

    Cray Member

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    User1: Do you allow a discount of 2 to 4 % if you are paid in cash? If not, why not? I've asked this many times from merchants, and they said NO.????? Cray
     
  13. Cray

    Cray Member

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    User1: Thank you for the reply. I'm going to start asking for a discount for paying cash. It will be interesting. I'll keep you informed as to the answers I get! Cray
     
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