The Tax Storm Is Coming

http://www.standard.net/node/44797
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 transaction at any financial institution i.e. Banks, Credit Unions, extra. Any deposit you make, or move around within your account, i.e. transfer to, will have a 1% tax charged. If your paycheck 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.

Apparently, the Usurper in Chief has already started trying to pass a bill in the House of Representatives meaning TO MAGICALLY DIMINISH all of the American debt that HE created.

For the full details check out - http://www.govtrack.us/congress/bill.xpd?bill=h111-4646

This bill is expected to QUOTE – “To establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals.”

This “Transaction Tax” would impose a 1% tax on EVERY transaction except buying and selling stock. If you use your debit cards, credit cards, cash, check book, transfer funds from checking to savings, put money into an IRA for retirement.

EVERYTHING!!!!

Sure this may pay down some of the mess that our Great Usurper in Chief has gotten us into, BUT…

Where does this stop? To what end?

Every time you pay with a check card to buy gas, 1%.

Every time you buy baby formula IN CASH, 1%.

Every time you buy toilet paper, 1%.

Water, rent, mortgage, insurance, deposit a paycheck, withdraw “tooth fairy” money for the kids, CASH a check; HELL, EVEN TO USE CASH! – 1%

Can you imagine all of the things that we spend money on EACH DAY? How many transactions do you make on any given day?

4? 5? 10?

What we are going to find with this is that a majority of our disposable income, the MONEY WE LIVE ON, is going straight to the fat cats S-O-Bs in Washington!

If you go buy a car for $30,000, the 1% tax will be $300.00. That seems like it’s nothing. BUT if you buy this $30,000 car with financing, WELL THAT’s A DIFFERENT STORY. If you get a $30,000 five year loan with, say 6.16% percent interest rate (new car), 6% sales tax (D.C. http://bit.ly/9Gos0S), $2,000 down payment and a $10,000 trade-in value on your old car, you will have a payment of roughly $385.00 a month (http://bit.ly/auHM4I).

This turns that $300.00 tax payment into - the original $300.00 plus 1% 60 times (385 *.01*60=$231), you end up paying $531.00 on the car just in transaction taxes! This doesn’t include tags(1%), insurance(1%), gas(1%) or anything else you need just to operate it such as oil changes(1%).
This bill has already been referred to the following committees:

• House Ways and Means, Subcommittee on 
• http://www.govtrack.us/congress/committee.xpd?id=HSWM
• House Budget, Subcommittee on
• http://www.govtrack.us/congress/committee.xpd?id=HSBU
• House Rules, Subcommittee on
• http://www.govtrack.us/congress/committee.xpd?id=HSRU
• House Appropriations, Subcommittee on
• http://www.govtrack.us/congress/committee.xpd?id=HSAP

Unfortunately these committees don’t usually let US - THEIR BOSSES – know what the hell is going on inside their twisted little minds!

We are going to go BROKE just trying to pay for dinner! We need to get these guys under control! If you click on the links for the different committees you will be able to see just who the HELL is reviewing this bill. If you see one of YOUR representatives, CALL, E-MAIL, FAX OR PERSONALLY VISIT them and tell them to STRAIGHTEN OUT THEIR CRAP on behalf of the ones THEY WORK FOR!

That is if you can afford to get there.