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Have you heard of HR4646?


Posted: Sep 11, 2011

HR4646

 

1% tax on all bank transactions HR4646

 

Watch for this AFTER November elections; remember this BEFORE you VOTE in case you think Obama's looking out for your best interest.

1% tax on all bank transactions HR 4646

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

FORWARD THIS TO EVERYONE YOU KNOW!

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.

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,if 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 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 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?

;

Ever heard of being sued for libel ? - Did you read the Snopes article you cited?

[ In Reply To ..]
Read the bottom where it says all that stuff you just said is a lie. I don't know why Snopes puts the myth at the top and truth at the bottom. I guess a lot of people who have limited reading skills will be fooled. Somehow, I think you did it intentionally.

http://www.snopes.com/politics/taxes/debtfree.asp

Um, helloooo, nobody on this board is going to be sued for libel - Get real!

[ In Reply To ..]
Snopes puts the myth at the top because that is the information that people are always looking for. Of course it would be at the top and then it gives the origin and an explanation. Most times they have it right.

Could have done without the rude comment on limited reading skills. That really was uncalled for. And no, you do not know if the poster did anything intentionally. That is what we call an ASSumption.

Again, nobody here is going to be sued for posting anything here. Get real!

"Most of the time they have it right." - Especially the big fat lie part at the end. nm

[ In Reply To ..]

When a TP/pub posts a lie, - it is really just a mistake, you know -NM

[ In Reply To ..]
Or its kinder, gentler synonym, "misspeak." Can't recall their ever - owning up to mistakes. sm
[ In Reply To ..]
The reactionary law suits, impeachment proceedings, and constitutional amendment efforts are reserved for those times when democrats commit the same perceived unpardonable crime. The never-ending BC litigation saga comes to mind.

Hmmm.. Fibber alert. - I don't like to be rude and call someone a li

[ In Reply To ..]
Yes. Read through the bottom. Hmmm. Why would someone deliberately post something like this as fact?

http://www.snopes.com/politics/taxes/debtfree.asp

Then allow me. Liar, liar, pants on fire. - Another idiotic viral email.

[ In Reply To ..]
zzzzzzzzzzz.............

The ignorance is mindboggling. - nm

[ In Reply To ..]
.

...but the RUDENESS of the above 3 posts is even - more so, yet all too common. n/m

[ In Reply To ..]
*
We had good teachers. Learned all things rude - from the teabaggers
[ In Reply To ..]
and when we need an emergency fix of rude with a heaping helping of misinformation, we flip the remote over and listen to a little Fox, GBTV or Rush.
Ain't that the truth!!!!! - nm
[ In Reply To ..]

Part of this is true though... - interesting read

[ In Reply To ..]
Here's the summary of the full bill from www.thomas.loc.gov (Thomas through the Library of Congress).
It's under the 111th congress.

It would be nice to repeal individual income tax And the alternative minimum. This is probably not going to go anywhere though....

H.R.4646
Latest Title: Debt Free America Act
Sponsor: Rep Fattah, Chaka [PA-2] (introduced 2/23/2010) Cosponsors (None)
Related Bills: S.2965
Latest Major Action: 2/23/2010 Referred to House committee. Status: 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.
--------------------------------------------------------------------------------
SUMMARY AS OF:
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.

Thank you for the details - knew some of what the OP wrote was right - sm

[ In Reply To ..]
But this explains it better.

Thanks for posting.

The guy brings this bill up year after year after year - and everybody simply ignores it.

[ In Reply To ..]
What part of that are you not getting? I'm sure it's a standing joke inside the chambers.

I think that would drive me & most others to stop - using banks at all. Already considering it.

[ In Reply To ..]

A credit union is the best way to go. - nm

[ In Reply To ..]

Amen! Credit unions are so easy to work with - mthead

[ In Reply To ..]
Better loan rates and credit card rates than most banks, and real human beings willing to work with you to solve problems.
I cant seem to find a credit union that isnt affiliated - with some group I dont belong to. -sm
[ In Reply To ..]
How do you go about finding a public credit union, if there even is such a thing?

Can you do all the same things with a credit union as a bank, such as online banking?
My husband and I use Texas Dow Chemical CU. - Neither of us work there.
[ In Reply To ..]
Just cruise the websites or pick up the phone and check around. What part of the country are you in?
I have an account with a credit union, and I - sm
[ In Reply To ..]
have had this account for over 30 years. They are back in Pennsylvania (where I was born and raised), and when I moved to Colorado, I just kept it open and don't have any plans to ever cancel this account.

I have a MasterCard that has NO annual fee and very low interest rate. I also have a checking and savings account with them, as well.

Regarding on-line banking, yes, I can do that with my credit union.
Any military service? - mthead
[ In Reply To ..]
My friends are in USAA, I think it is, because they both have family members who were in the military. My DH and I have been in a federal government CU, a state teachers CU and a state employees' CU over the years.

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