Hr-4646

[myrobbins7]

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 own bank from one account to another, will have a 1% tax charged.

If you take $1,000 cash to deposit at your bank, 1% tax will be charged.

snopes.com: Debt Free America Act

 

[therealUT]

I love taxes!

 

[MG1968]

you do realize that your snopes link completely contradicts your assertion that Obama proposed this?

 

[GreveHaller]

did you read your snopes link? it says this isnt a Big O proposal - it is by a single congressman with no other member of congress supporting it as well as no chance of passing.

Not sure what your point is here

 

[Cartervol]

They need more money to support our obese government.

 

[YorkVol]

Gotta love good old Chaka Fattah.

 

[myrobbins7]

you do realize that your snopes link completely contradicts your assertion that Obama proposed this?

Thank you.

 

[myrobbins7]

I love taxes!

+1!!!

 

[Gramps]

Good find... Breaking News from 2/23/2010.

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.

ALL ACTIONS: 2/23/2010:
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2/23/2010:
Referred to House Ways and Means
2/23/2010:
Referred to House Budget
2/23/2010:
Referred to House Rules
2/23/2010:
Referred to House Appropriations

--------------------------------------------------------------------------------