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Yep, 1 percent charge on all bank transaction. Direct deposit or not. If you cash a check, deposit, money, transfer funds 1 percent tax. A guy who promised no new taxes for people making under $250'000.
 

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A Proposed 1% Tax On All Financial Institution Transaction-Mostly Truth!


Summary of the eRumor:
This is a forwarded email that says President Obama's finance team is planning to impose a 1% tax on all transactions conducted in financial institutions and that they plan to sneak it in after the November election.


The Truth:
There is a Congressional House Bill, HR-4646, the Debt Free America Act that was introduced in Congress on February 23, 2010, but we have not found any evidence that the bill is being snuck in as the eRumor alleges.

The bill was sponsored by Democratic Congressional Representative Chaka Fattah of Pennsylvania and says that it is to "establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals." Fattah has a description of the bill along with a press release posted on his Congressional web site. Fattah is a member of the House Appropriations Committee.
 

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I don't tan but why was there not a lot of opposition raised to his obvious racist tax on tanning salons? Why does this prez get to pick on anyone he choses? Maybe Bush was a dummy for not abusing all the power he could have like this ( ! ) that occupies the white house?
 

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This is absolutely crazy. Will welfare recipients get taxed on their checks when they cash them, too? We may need to tell them about this and turn the tide in the vote...LOL!
 

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Curvey also when you write a check, use you card to purchase, make a deposit, transfer funds, basically any transaction involving money that goes through a bank or other financial institution.Write a check, or use a charge card, or debit card to pay a bill or make a purchase 1% fee.

This is the damacrap answer to tax reform. Their kind of Fair tax I guess you could say. My understanding is that this would replace the income tax and pay off the debt.

Don't know all the details (never will know anything about a damacrap bill until it is passed). But this could drive people to do away with banks almost completely. Cash instead of plastic. The fewer inter bank transactions the more you have. People may start burring in the back yard again.

Will have to go on line and read the damn thing.

Rock

Jim
 

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Bad for banks, and bad for businesses, too. It won't go through because all of the welfare recipients are going to whine. Democrats don't like the sound of welfare tears.

That is, unless they give those people an exemption.
 
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