You need to check this out. I never even knew about this till a friend e-mailed it to me today. If this happens it looks like every time you but in or take money out of the bank they will TAX YOU 1%, this is BullShit!!! This country is going down fast! I feel the collapse around the bend. Get you and your family ready ASAP!!!
H. R. 4646
To establish a fee on transactions which would eliminate the national
debt and replace the income tax on individuals.
Here is the link:
http://frwebgate2.access.gpo.gov/cgi-bin/TEXTgate.cgi?WAISdocID=OuYrlM/4/1/0&WAISaction=retrieve
More control and more fleecing of everyone and I do not believe for one second it will fix the debt. And it will not work, all it will do is make people not put money into a bank.
ReplyDeleteHave you Snopes-checked this? It's the suggestion of one or two people with no backers.
ReplyDeleteI agree with Scott. The trend has been tax more, spend more. They have no interest in reducing the debt.
ReplyDeletehttp://www.govtrack.us/congress/bill.xpd?bill=h111-4646&tab=summary
ReplyDeleteThe following summary was written by the Congressional Research Service, a well-respected nonpartisan arm of the Library of Congress. GovTrack did not write and has no control over these summaries.
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.
Why won't this let me copy and paste????? Ack!
ReplyDeleteSnopes-check HR 4646 and read.
It states that yes, such a concept has been proposed and it has languished because no one with 2 licks of sense will support it. It's lying on the floor of the committee right along with the Blair Holt handgun bill and every other stupid, unenforceable bill that some overpaid yahoo has proposed. I think the term Snopes used was snowball's chance in................
Andrea I know what your saying and I'm sure it's the truth. But to think it was even started is sick and with the Dem's coming butt kicking this Nov, 2nd I fear that some way that the fools get this going again. I remember when Cliton was in office and he tried to push the health care bill and it was stopped but with the walking dead out there I fear anything the great Obama wants he gets. And this would be a great last big bill to push for the Dem's. We know as the ship goes down they will push as many BS Bills and new plan as they can. And I'm not sure if I trust Snopes, but I'm sure this bill is DOA
ReplyDelete