1% Tax On All Bank Transactions HR4646

ganja girl

ganja girl

New Member
I'm sure it has been discussed in this forum but I hadn't heard about it. Every dollar I make is paid by check, this would be a significant amount. Rep. Fattah Chaka from PA sponsored it. I checked it out it is very real.

This government just cannot think of enough ways to hurt the American people! I sure hope this dies!!!!

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 say, "ph, 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.​
 
N

newatit2010

Well-Known Member
Obozo's socialist agenda will finish transformation of America. I hope all the stupid people that voted for odumbass will relect his ass again so they can live in a socialist country. They will come out better if they move France and live with socialist. Or maybe they are just muslim like their god obozo.
 
jesus of Cannabis

jesus of Cannabis

:-)
this will not pass its just a scare tactic
Plus figure the IRS takes more than 1%
the State takes more than 1%

More reason to go to a FairTax

Look it up

Fairtax.org
 
Hotsause

Hotsause

Well-Known Member
Tax is BS is the first place.. Here take some of the money i worked my ass to get... Im not gonna lie i voted for Obama im not sure Mccain could have done anything to turn this place around but now Obama is starting to become a pain in my ass Im lost on politics
 
mame

mame

Well-Known Member
OP, you're part of the problem:
This bill seeks to eliminate the national debt and repealing the individual income tax and adding a new 1% tax on all financial transactions, including all consumer transactions like uses of cash, check and debit. It would also repeal refundable and nonrefundable personal tax credits and the alternative minimum tax (AMT). This bill has not attracted any co-sponsors, moved in the legislative process, or gotten any attention from congressional leaders. There is virtually zero chance of it moving in Congress.(source:http://www.opencongress.org/bill/111-h4646/show)
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Rep. Chaka Fattah D-PA is the sole sponser of this bill.

furthermore, if you had further researched the subject you would find that this tax is supposed to end the federal income tax by 2017; but this is all moot anyway as the likeliness of this bill becoming law is slim and/or none.

here is another article...(http://www.swifteconomics.com/2010/09/22/h-r-4646-the-debt-free-america-act/ ). It's a little less biased than the one you got off the tea party's website and/or one of their idiot readers who emailed it to you word for word.(http://boilingspringsteaparty.com/2010/10/28/triple-dog-dare-ya-h-r-4646-debt-free-america-act/).
 
MrDank007

MrDank007

Well-Known Member
jesus of Cannabis said:
Taxes pay for the military and most of all services you use every day, like the road you are driving on? ya taxes. Like the mail every day, ya taxes. Like your police and fire personnel, ya taxes.
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That's was taxes were intended for. That is not what people are fed up with.
 
mame

mame

Well-Known Member
MrDank007 said:
That's was taxes were intended for. That is not what people are fed up with.
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Than what is, anyway? Are people fed up with historic health care reform? I fail to see how 30 million Americans getting health insurance is a bad thing. Obamas $800bil stimulus bill? saved/created 3mil jobs. Auto industry bailouts(which bush also supported)? Ford is showing record profits and the american car industry as a whole is doing it's best since 2002.

Do you prefer tax cuts (commonly for the rich) that prove to be just as costly as stimulus(possibly even more, the Bush tax Cuts cost an estimated 1-1.7trillion dollars) yet fail to match stimulus dollars, dollar for dollar in GDP(Obama's stimulus has tons of provisions worth $1.4-1.8 to every dollar spent, where the Bush tax cuts gave back U.S Citizens as low as 32 cents on the dollar? How about some more deregulation so the banks and international businesses can screw you as the custumer some more as well as cheat governments out of taxes they owe (see Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes).

Oh i forgot... THE FREE MARKET WILL FIX IT LOLOLLLLLL:wall::wall:
 
MrDank007

MrDank007

Well-Known Member
Of course...no one sees health care as a bad thing. And those people generally have no concept of simple business.
Social security and medicare currently have over $100 Trillion in unfunded liablities. That is more money than is in circulation in the entire world and about 10x the US dollar circulation. Transportation and education alot for less than 5% of the federal tax Budget. Defense is roughly 20%. Interest on our national debt is now the 3rd largest tax expense and roughly a half a trillion dollars annually.

So...now we are looking at one more entitlement program about to eclipse the size of medicare. It's doubling down at the wrong time.
People are fed up with wasteful spending, the pork projects and the entitlement programs. The gov has to nickle and dime everywhere to limp along and pay for this crap...which will blow up at some point. Little of a tax payers hard earned money benifits or supports the person paying it. Their quality of life is deteriorating. That's why people are pissed. Additional taxes just feed the monkey. The gov is a junky that will piss away no matter how much they have. We need to quit spending!
 
Hotsause

Hotsause

Well-Known Member
jesus of Cannabis said:
Taxes pay for the military and most of all services you use every day, like the road you are driving on? ya taxes. Like the mail every day, ya taxes. Like your police and fire personnel, ya taxes.
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I understand that but Taxing the shit out of a father who works his ass off everyday why the rich get richer and waste money on dumb shit whats fair in that? I really didnt come here to argue just thought id put my 2 cent in maby i could have thought it out better stay smoking.
 
MexicanWarlord420

MexicanWarlord420

Active Member
newatit2010 said:
Obozo's socialist agenda will finish transformation of America. I hope all the stupid people that voted for odumbass will relect his ass again so they can live in a socialist country. They will come out better if they move France and live with socialist. Or maybe they are just muslim like their god obozo.
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I doubt you even know what socialism is, or what you're talking about..
 
Bag Lady

Bag Lady

Member
I love rich people. I work at a business where all the clients are wealthy or the truly wealthy. If it wasn't for them I'd be hard pressed to make ends meet. When the rich spend money they really spend it, they buy American made because it is generally better made. Not like most people here who buys their stuff from Wal-Mart and that China made crap. When they buy boats they are custom made here in the USA. Planes here in the USA.

The average truly wealthy has a household staff of about 5 to 10. The Mr. and Mrs. each have personal assistants. Each home is fully staffed with an estate manager, executive housekeeper, 1 to 3 housekeepers, a landscaper, a personal chef that travels. There is usually a pilot, and a majordomo to coordinate all the locations.

Personal assistants about $30-50k if they don't travel. $70-100 if they travel and are certified.
Estate manager-$60-120k Professional certification. might need to travel
Executive housekeeper $50k+ professional certification or great references. Might need to travel.
Personal chef -$50-90k depending on skill and type of training. Might need to travel
housekeeper $30-45k depending on experience and references. no travel
landscaper $30-50k depending on experience and ability with irrigation and drainage. no travel
majordomo $80=150k+ most definitely travel.
Pilot $90k
Plus, all the other things that they require like flower arrangements, golf course memberships and all those jobs, parties and all those things needed are rented, fancy cars and all those jobs, restaurants and all those tips and jobs, dry cleaning, laundry services, etc.

Thank goodness for wealthy people they pay my bills. The most important thing to remember is that they EARNED it by being up at 4:30 am to get things done before the real day starts and finish long after you are home and having dinner. They went to college and applied themselves. And most importantly they created industries and businesses that gives you a job.
 
DelSlow

DelSlow

Well-Known Member
Bag Lady said:
I love rich people. I work at a business where all the clients are wealthy or the truly wealthy. If it wasn't for them I'd be hard pressed to make ends meet. When the rich spend money they really spend it, they buy American made because it is generally better made. Not like most people here who buys their stuff from Wal-Mart and that China made crap. When they buy boats they are custom made here in the USA. Planes here in the USA.

The average truly wealthy has a household staff of about 5 to 10. The Mr. and Mrs. each have personal assistants. Each home is fully staffed with an estate manager, executive housekeeper, 1 to 3 housekeepers, a landscaper, a personal chef that travels. There is usually a pilot, and a majordomo to coordinate all the locations.

Personal assistants about $30-50k if they don't travel. $70-100 if they travel and are certified.
Estate manager-$60-120k Professional certification. might need to travel
Executive housekeeper $50k+ professional certification or great references. Might need to travel.
Personal chef -$50-90k depending on skill and type of training. Might need to travel
housekeeper $30-45k depending on experience and references. no travel
landscaper $30-50k depending on experience and ability with irrigation and drainage. no travel
majordomo $80=150k+ most definitely travel.
Pilot $90k
Plus, all the other things that they require like flower arrangements, golf course memberships and all those jobs, parties and all those things needed are rented, fancy cars and all those jobs, restaurants and all those tips and jobs, dry cleaning, laundry services, etc.

Thank goodness for wealthy people they pay my bills. The most important thing to remember is that they EARNED it by being up at 4:30 am to get things done before the real day starts and finish long after you are home and having dinner. They went to college and applied themselves. And most importantly they created industries and businesses that gives you a job.
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You can wipe the doo doo from your nose now.
 
UncleBuck

UncleBuck

Well-Known Member
Bag Lady said:
Thank goodness for wealthy people they pay my bills. The most important thing to remember is that they EARNED it by being up at 4:30 am to get things done before the real day starts and finish long after you are home and having dinner. They went to college and applied themselves. And most importantly they created industries and businesses that gives you a job.
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bullshit.

most wealthy people inherited it, married into it, or stole it.

the wealthy who actually earned it are the overwhelming minority of rich people.

as far as the op goes, nice chain email. it stands ZERO chance of passing.

some people are exceedingly poor consumers of information.:dunce:
 
Bag Lady

Bag Lady

Member
It takes about 3 generations for most large estates (not the Buffets and the Gates of the world) to deminish to the point that the heirs have to work.

How these people got their money (as long as it is done without stealing or breaking the law) is none of our business and wanting to tax them out of it is just a sign of class envy. If you were wealthy would you think it is fair, really?

I agree that the bill has little chance of passing, but it is there-isn't it. That is not being a poor consumer of information, I think any time someone can bring something like out into the light for other to see is doing a good service. And it has created spirited conversation.

Yeah, I did over do it a bit. I deserved the brown nose comment. lol
 
UncleBuck

UncleBuck

Well-Known Member
Bag Lady said:
If you were wealthy would you think it is fair, really?
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my wife has over $200K in her bank account and over a million worth of non liquid assets. her family is what you would call wealthy, which makes me wealthy by marriage (despite the fact that i have $125 to my name and $6k debt).

yes, i think it is fair. and so does she. so does her family, from whom she received her wealth. it is a matter of supporting the structure from which you begat your wealth.

it's not that this bill has little chance of passing, it has ZERO chance of passing.

i am lucky that i don't get any of these junk chain e-mails from tea partiers, but if i did, i would surely not post them to any online forum. the person who posted this is a very poor consumer of information. there are many other topics more worthy of our attention and debate.
 
DelSlow

DelSlow

Well-Known Member
Bag Lady said:
It takes about 3 generations for most large estates (not the Buffets and the Gates of the world) to deminish to the point that the heirs have to work.

How these people got their money (as long as it is done without stealing or breaking the law) is none of our business and wanting to tax them out of it is just a sign of class envy. If you were wealthy would you think it is fair, really?

I agree that the bill has little chance of passing, but it is there-isn't it. That is not being a poor consumer of information, I think any time someone can bring something like out into the light for other to see is doing a good service. And it has created spirited conversation.

Yeah, I did over do it a bit. I deserved the brown nose comment. lol
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Lol I was just playing. +rep for a sense of humor.
 
MrDank007

MrDank007

Well-Known Member
No small buisness here care to comment about why they are paralyzed with tax and insurance fear? Anyone here involved in any sort of market and pissed they can't make any money? Or is it all just the mentality that all rich people got an evil inheritance and I want them taken down a notch so I can get my hand out?
 
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