The Down Range Forum
Member Section => Politics & RKBA => Topic started by: JC5123 on October 13, 2010, 03:10:52 PM
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H. R. 4646
I have gone into THOMAS (Library of Congress) and printed out and read all 15 pages of this bill which has been given the "Short Title" of "Debt Free America Act."
It is the most socialistic thing I have ever read. Just think, if you deposit $5,000.00 into your checking account or savings account the bank has to take out 1% or $50.00 of that money and send it to Washington. Then, any checks or cash you take out of your bank they will deduct 1% from what is still in the bank and send it to Washington. Total put in the Bank $5,000.00. $100.00 of that you give to Washington.
This bill, spells it out that everyone will pay the Government 1% of their gross income.
Page 9 states the House and Senate shall convene not later than November 23, 2010 and Page 11 states the vote on passage shall occur not later than December 23, 2010.
SEND THIS TO EVERYONE YOU KNOW AND EVERYONE NEEDS TO CONTACT THEIR CONGRESSMAN AND SENATOR AND TELL THEM TO VOTE NO ON THIS BILL.
If you don't know who your Congressman or Senator is, go to Google, type in "(your state) Congressman email address". When it comes up, click on "Complete E-mail address for Congress/House, Senate, Governors and get both e-mail and FAX info.
The bill is HR-4646 introduced by US Rep Peter DeFazio D-Oregon and US Senator Tom Harkin D-Iowa. It is now in committee and will probably not be brought out until after the Nov. Elections. Suggest that you pass this along and also to your state senator and representative and US Congressman and Senators.
One percent transaction tax is 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% --Remember once the tax is there they can raise it at will. This will ADD UP
http://www.standard.net/node/44797
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Fine if it REPLACES the IRS. Probably the final straw otherwise.
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It will never pass.
They know if it does, they will get voted out of office.
There is not a single person that won't piss off.
If it does pass, you can bet alot more people will be working for cash.
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Jan 1, 2011, taxes go up anyway, as the Bush tax cuts expire....Death Tax, Capital Gains, Homestead, Mortgage, Employer, FUTA, SUTA, oh, and this does not include state and local taxes that most of us have already seen increase.
The $250,000 "threshold" touted by BHO, is a farce, scam, and hip waders are required to wade through the B.S.
ALL OUR TAXES ARE GOING UP
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250k in gross is easy to do. Hell I did more then that my 1st year in biz. I've done more then that in a month.
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They've already gone up. The "married filing jointly" deduction on your tax return has already been decreased. You just won't notice it until you file for 2010.
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250k in gross is easy to do. Hell I did more then that my 1st year in biz. I've done more then that in a month.
BHO, AND Kalifornia, LOVES YOU, and thanks you for your contributions! Are they giving you your money's worth?
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BHO, AND Kalifornia, LOVES YOU, and thanks you for your contributions! Are they giving you your money's worth?
Intrestingly enough, other then things like SS and SDIC, I've not had to pay very much in taxs for the last 5 years.
Maybe 2-3k a year that was not the above mentioned. Now other "taxs" that they call fees are another story.
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In reference to this post may I respectfully refer you all to the following URL. Perhaps you will find some interesting information, perhaps not. I did.
Su Amigos, Pecos
http://www.snopes.com/politics/taxes/debtfree.asp
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Actually, the Snopes version sounds kind of like one of the "Fair Tax" proposals.
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This is more than a 1% tax on income.
At a minimum it would be 2% if you have your income deposited in an account. 1% going in, 1% coming out.
It would likely be more if you continue to operate as you do now.
For instance, you have your check deposited to your savings account. 1% gone. You transfer some to your checking account. 1% of that amount gone. You write a check to pay a bill 1% gone. So basically 2% of anything going into checking is gone.
So the only part that gets 1% is what goes into our primary account and NEVER comes out.
I bet if you try to avoid it by cashing a check and taking the cash without deposit, they will get 1% of that transaction also.
If those who vote for this survive their next election, which I'd do all I could to make sure they would not, it would become pretty attractive to raise the tax to 2% which effectively is 4% of income.
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Like TAB said, I doubt (hope) it doesn't happen....and if if does, do you think it could drive folks to abandon banks altogether and resort to a more localized system of cash only transactions...the way it was a hundred years ago? I still know folks in my wife's family that don't use banks at all (and never have, m-i-l for one) and use cash to pay for everything locally.
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Like TAB said, I doubt (hope) it doesn't happen....and if if does, do you think it could drive folks to abandon banks altogether and resort to a more localized system of cash only transactions...the way it was a hundred years ago? I still know folks in my wife's family that don't use banks at all (and never have, m-i-l for one) and use cash to pay for everything locally.
Some overhead in time and mileage running the errands to pay for everything locally. But it might be a good practice to follow for reasons other than avoiding this tax also.
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I use my employers bank to cash my check and do only cash transactions, If I need to mail money I use a Postal money order.
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Don't know what a money order costs, but even if it is more than the 1%, it is still good to get out of the view of Big Brother.
But I would not be surprised if the hook money orders, etc, into this plan if it would ever pass.