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H.R. 4646 - The proposed Transaction Tax
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.Posted by: Besoeker 2010-08-30 |
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