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View Full Version : Any news on HR 4646?



Uncle Bill
09-22-2010, 11:06 AM
Many of you Snopes folks will want to run this past your favorite lefty fact checker.

UB

One percent transaction tax is being proposed.President Obama's finance team is recommending a transaction tax. His plan is to
sneak it in after the November election to keep it under the radar. This is a 1%
tax on all transactions at any financial institution i. e. Banks, Credit Unions,
etc.. Any deposit you make, or move around within your account, i. e. transfer
to, will have a 1% tax charged. If your pay check or your social Security or
whatever is direct deposit, 1% tax charged. If you hand carry a check in to
deposit, 1% tax charged, If you take cash in to deposit, 1% tax charged.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.

Some will say aw 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 raise it at will.

http://www.standard.net/node/44797 (http://www.standard.net/node/44797)

ducknwork
09-22-2010, 11:32 AM
It sounds interesting...


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.

M&K's Retrievers
09-22-2010, 11:34 AM
That's just friggin' great!:-x

depittydawg
09-22-2010, 11:09 PM
Many of you Snopes folks will want to run this past your favorite lefty fact checker.

UB

One percent transaction tax is being proposed.President Obama's finance team is recommending a transaction tax. His plan is to
sneak it in after the November election to keep it under the radar. This is a 1%
tax on all transactions at any financial institution i. e. Banks, Credit Unions,
etc.. Any deposit you make, or move around within your account, i. e. transfer
to, will have a 1% tax charged. If your pay check or your social Security or
whatever is direct deposit, 1% tax charged. If you hand carry a check in to
deposit, 1% tax charged, If you take cash in to deposit, 1% tax charged.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.

Some will say aw 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 raise it at will.

http://www.standard.net/node/44797 (http://www.standard.net/node/44797)

You guys really need to do a little research before you jump in on this kind of stuff.

http://blogs.standard.net/2010/08/1-percent-transaction-tax-is-proposed-letter-goes-viral-on-the-net/

Uncle Bill
09-23-2010, 10:54 AM
Why should we when we can turn this dumpster diving over to you and your buds? You are far more fun to tweek than providing the unvarnished truth...which you wouldn't recognize if it bit you in the rectum.

UB

YardleyLabs
09-23-2010, 11:18 AM
Why should we when we can turn this dumpster diving over to you and your buds? You are far more fun to tweek than providing the unvarnished truth...which you wouldn't recognize if it bit you in the rectum.

UB
And besides, why stop posting falsehoods when it is so much fun? Rep. Chaka Fattah would be proud to know that someone thinks that he was a member of Obama's economic team when he proposed this idea in 2004. The fact that the bill has never received a hearing or a single co-sponsor in the last six years while it has been pending was so depressing.

ducknwork
09-23-2010, 11:22 AM
And besides, why stop posting falsehoods when it is so much fun? Rep. Chaka Fattah would be proud to know that someone thinks that he was a member of Obama's economic team when he proposed this idea in 2004. The fact that the bill has never received a hearing or a single co-sponsor in the last six years while it has been pending was so depressing.

The bill was introduced in February of 2010...
http://www.opencongress.org/bill/111-h4646/show
http://www.govtrack.us/congress/bill.xpd?bill=h111-4646

(Pssst...Obama was president then...)

YardleyLabs
09-23-2010, 11:31 AM
The bill was introduced in February of 2010...
http://www.opencongress.org/bill/111-h4646/show
http://www.govtrack.us/congress/bill.xpd?bill=h111-4646

(Pssst...Obama was president then...)
The bill was reintroduced in 2010. It was originally submitted in 2004 as HR 3759 (http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=108_cong_bills&docid=f:h3759ih.txt.pdf). Under House rules, bills expire (die) at the end of the session.
(PSSST: The "other guy" was President. However, he had no more to do with the bill than the current President)