Another "fine" idea by a Democrat.....

[WRL]

A 1% tax on all financial transactions to help pay down the gov't debt.

So if you buy a $30k car, you pay $300. If you buy a company for $1m then you pay $10k.

If you DEPOSIT, $1k in CASH in the bank, you pay $10. If you deposit your paycheck, you pay 1%.

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

[ducknwork]

Interesting...snopes says that the law would eliminate federal income tax...

[Raymond Little]

Interesting...snopes says that the law would eliminate federal income tax...

How many TAXES have they ever eliminated?:rolleyes:

[WRL]

Interesting...snopes says that the law would eliminate federal income tax...

I missed that. Where exactly is that statement?

WRL

[Raymond Little]

#3 listed as text of the bill

[subroc]

even assuming it is true, does anyone actually believe the money would be used to pay down the debt?

to reduce he debt, "STOP SPENDING!"

[duckdawg27]

I'm not a Dem but it sounds like a weak attempt at a flat tax law. (Which I do support).
Eliminate the current IRS jerkaround in favor of a flat tax? You betcha but I don't think this idea posted has the substance needed to do that.

[WRL]

#3 listed as text of the bill

Thanks.

I agree about them "reversing" taxes.....that very very rarely happens. They get their hands on the money and they don't let go.

WRL

[Raymond Little]

Thanks.

I agree about them "reversing" taxes.....that very very rarely happens. They get their hands on the money and they don't let go.

WRL

Just like sealing the Borders, it ain't going to happen anytime soon.
Money is like Crack to the idiots in Washington.