Bill sets up 3% national tax

Everyone in America is being set up for a 3 percent tax, and most don’t even know about it.

On Feb. 23, 2010 a bill was introduced in the House of Representatives that will tax every monetary transaction made by anyone in the U.S. This bill must be voted on by Dec. 23, 2010, yet very few people have ever heard of it.

The bill is called “HR 4646: Debt Free America Act.” It contains 15 pages, but the first three pages contain the sum and substance of the bill. The remainder deals with committees, task forces, reports, etc. Anyone can pull it up on the Internet, or ask an accountant or financial planner about it. The wording is simple and easy to understand.

In a nutshell, the bill establishes a 1 percent fee (tax) for every transaction made by anyone. A transaction could be receiving a paycheck, cashing or depositing same, charging anything, and paying cash for anything. Even direct deposit is a transaction.

Inherently, this is a 3 percent tax. Example: Paycheck, $400.

Transaction #1: Receipt of paycheck, $ 4 withheld. Transaction #2: Deposit or cash paycheck, 3.96 withheld. Transaction #3: Write checks or spend cash, 3.92 withheld.

$11.88 has disappeared from the paycheck, theoretically to reduce the multi-trillion dollar debt. Whatever happened to “No one will ever see a penny of new taxes”?

Dick Wanzer

Peachtree City, Ga.

Observerofu
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VAT or Value Added Tax could be next?

http://www.cbsnews.com/8301-503983_162-20001918-503983.html
from CBS News.
"the head of the Senate Budget Committee, Kent Conrad (D-N.D), has mused that a VAT has "got to be on the table," and Speaker of the House Nancy Pelosi (D-Calif.) has murmured sweet nothings about it. In fact, interest in a VAT is cropping up all along the ideological spectrum (albeit more often along the leftish end)."

Courthouserules
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Transaction Tax

This so-called "bill" has about as much chance of even being introduced---never mind passed, as would one passing the "fair tax."

Nutty fruitcakes put such idiocy forward All of the time---they mold in a box somewhere.

This is one of those scams that Snopes has to dispute all of the time.

Another way to try and convince the un-read of the boogie man coming after them!

The bill doesn't even have a birth certificate, wasn't born here, is written on red paper in red ink, and all Senators, Governors, and Sheriffs of South Carolina were born in New York City!

imagine that
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For once I agree with Courthouse

Here is the link to the explanation on Snopes...
http://www.snopes.com/politics/taxes/debtfree.asp

Not likely to be happening, especially as it is tied to the elimination of the personal income tax...