1% transaction fee bill HR 4646

[mike88]

proposal to levy a 1% "transaction fee" every time the banking system is used. cashing paycheck, using cc, direct deposits, any money transfers. fees collected are supposed to be used to eliminate national debt. i think it is a whacked idea. discuss.........

[Libertarian_Guard]

Should this become law, and I doubt it will, most people will buy big ticket items, such as cars, with cash and save the 1% tax.

[Glass]

Should this become law, and I doubt it will, most people will buy big ticket items, such as cars, with cash and save the 1% tax.


people have to obtain the cash first so they will be hit with the 1% fee regardless. It's a stealth consumption tax. 1% will become 10% or 15% given time.

[Libertarian_Guard]

Should this become law, and I doubt it will, most people will buy big ticket items, such as cars, with cash and save the 1% tax.


people have to obtain the cash first so they will be hit with the 1% fee regardless. It's a stealth consumption tax. 1% will become 10% or 15% given time.


My point being, that people will only need to obtain their fiat (checking or otherwise) once, not twice.

That would be a 1% savings.

[Twisted Titan]

Should this become law, and I doubt it will, most people will buy big ticket items, such as cars, with cash and save the 1% tax.


people have to obtain the cash first so they will be hit with the 1% fee regardless. It's a stealth consumption tax. 1% will become 10% or 15% given time.



THE FIRST INCARNATION OF THE VAT TAX ON AMERICAN SHORES

YOU SEEN IT ON GSUS FIRST!!!

[midnight rambler]

There's always a warm and fuzzy name attached to this sort of wickedness. In this case it's called the Debt Free America Act (as if the banksters would ever let that happen). If there were any truth in what they were doing it'd be called the Ultimate Bankster Tribute Act. And surely as God made little green apples, 1% will become 19% or 24% eventually.

[The Great Ag]

I say, bring it on!!! ;D

This act will encourage people to find other ways of paying for things. How creative can US citizens become? Will doctors take food for payment? Gold? Silver? Alternative currencies will certainly become popular.

This act will do more good for getting people off the FRN and onto a more healthy form of exchange.

The Great Ag

[sirgonzo420]

There's always a warm and fuzzy name attached to this sort of wickedness. In this case it's called the Debt Free America Act (as if the banksters would ever let that happen). If there were any truth in what they were doing it'd be called the Ultimate Bankster Tribute Act. And surely as God made little green apples, 1% will become 19% or 24% eventually.


They name Acts after what they plan to stop or destroy.

[boogietillyapuke]

It's a sales tax.

Why is it always called a sales tax when it's imposed on the buyer?

Just thinkin'.

[Twisted Titan]

It's a sales tax.

Why is it always called a sales tax when it's imposed on the buyer?

Just thinkin'.



You wanna get locked up?????

[TheNocturnalEgyptian]

The national debt is created when the money is created.

Then the debt is paid when they money is used.


Um.....instead of embedding dependancies, why not just fix the root problem?

[Book]

...fees collected are supposed to be used to eliminate national debt.



The Federal Reserve Bank will never be AUDITED so who knows where this new 1% fee will go or even exactly the amount of the Nation Debt. We just take their word for it that their books are kosher...lol.

:oo-->

[gunDriller]

proposal to levy a 1% "transaction fee" every time the banking system is used. cashing paycheck, using cc, direct deposits, any money transfers. fees collected are supposed to be used to eliminate national debt. i think it is a whacked idea. discuss.........


i would say it is, BEYOND whacked.

which may increase the chance of passage.

the bankers/Tapeworms are On the March.

[boogietillyapuke]

It's a sales tax.

Why is it always called a sales tax when it's imposed on the buyer?

Just thinkin'.



You wanna get locked up?????


Already in chains, what's a few bars? ;D

Florida Statutes.

212.05 Sales, storage, use tax.


—It is hereby declared to be the legislative intent that every person is exercising a taxable privilege who engages in the business of selling tangible personal property at retail in this state, including the business of making mail order sales, or who rents or furnishes any of the things or services taxable under this chapter, or who stores for use or consumption in this state any item or article of tangible personal property as defined herein and who leases or rents such property within the state.

(1)For the exercise of such privilege, a tax is levied on each taxable transaction or incident, which tax is due and payable as follows:

(a)1.a.At the rate of 6 percent of the sales price of each item or article of tangible personal property when sold at retail in this state, computed on each taxable sale for the purpose of remitting the amount of tax due the state, and including each and every retail sale.


212.06 Sales, storage, use tax; collectible from dealers; “dealer” defined; dealers to collect from purchasers; legislative intent as to scope of tax.
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(1)(a)The aforesaid tax at the rate of 6 percent of the retail sales price as of the moment of sale, 6 percent of the cost price as of the moment of purchase, or 6 percent of the cost price as of the moment of commingling with the general mass of property in this state, as the case may be, shall be collectible from all dealers as herein defined on the sale at retail, the use, the consumption, the distribution, and the storage for use or consumption in this state of tangible personal property or services taxable under this chapter. The full amount of the tax on a credit sale, installment sale, or sale made on any kind of deferred payment plan shall be due at the moment of the transaction in the same manner as on a cash sale.

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(3)(a)Except as provided in paragraph (b), every dealer making sales, whether within or outside the state, of tangible personal property for distribution, storage, or use or other consumption, in this state, shall, at the time of making sales, collect the tax imposed by this chapter from the purchaser.

[Twisted Titan]

When I look at the insanity like the "rules" above I say to myself

Gold , Silver, Bullets and SHUT MOUTH will go a long way to keeping you very wealthy.

T