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Thread: Any news on HR 4646?

  1. #1
    Senior Member Uncle Bill's Avatar
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    Default Any news on HR 4646?

    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
    When the one you love becomes a memory, that memory becomes a treasure.

  2. #2
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    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.

  3. #3
    Senior Member M&K's Retrievers's Avatar
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    Default

    That's just friggin' great!
    M&K's HR UH Tucker of Texoma JH
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  4. #4
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    Default

    Quote Originally Posted by Uncle Bill View Post
    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
    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-...al-on-the-net/

  5. #5
    Senior Member Uncle Bill's Avatar
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    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
    When the one you love becomes a memory, that memory becomes a treasure.

  6. #6
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by Uncle Bill View Post
    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.

  7. #7
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    Quote Originally Posted by YardleyLabs View Post
    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...)

  8. #8
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by ducknwork View Post
    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-...3759ih.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)
    Last edited by YardleyLabs; 09-23-2010 at 11:34 AM.

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