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Transaction Tax

Have you heard about this 1% transaction tax on all banking transactions? At first I thought, there is no way....then I overheard an interview last night with Sen John McCain and Greta Van Sustren and they were talking about it as well. Here is the email I got: 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 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.

Answer Question
 
ShelbysHope

Asked by ShelbysHope at 9:39 AM on Aug. 4, 2010 in Politics & Current Events

Level 13 (1,073 Credits)
Answers (25)
  • Keep your eyes and ears open, you will be amazed at what you learn.
    Lee Hoecherl
    Washington Terrace

    Any truth to this??
    ShelbysHope

    Comment by ShelbysHope (original poster) at 9:40 AM on Aug. 4, 2010

  • Get on the phones and start calling your Congressional representatives. This is the type of things that makes my blood boil about this administration. How much money does he think we have?
    jesse123456

    Answer by jesse123456 at 9:50 AM on Aug. 4, 2010

  • Oh!My!Stars!

    That's beyond ridiculous! So they think they are going to tax the income, tax the banking of the income, tax the investing and/or saving of the income, tax the spending of the income, then tax the inheritance of whatever is left of the income? *sigh*

    I need to go pay taxes on the spending of the income so that we can eat this week. I'll be back later.
    May-20

    Answer by May-20 at 9:54 AM on Aug. 4, 2010

  • That's the first I've seen or heard of this....so I have no idea if there is any truth to it or not.
    SAHMinIL2

    Answer by SAHMinIL2 at 10:03 AM on Aug. 4, 2010

  • This information must have somehow "SNEAKED" into the Finance Reform Bill!!!

    Yay team Obama!!! (sarcasm)

    If you voted for him, are you STILL happy with your choice?!?!?
    LoriKeet

    Answer by LoriKeet at 10:06 AM on Aug. 4, 2010

  • I'd like to see a source.
    lovinangels

    Answer by lovinangels at 10:08 AM on Aug. 4, 2010

  • http://dailycaller.com/2010/07/07/a-debt-free-america-yes-its-possible/
    lovinangels

    Answer by lovinangels at 10:09 AM on Aug. 4, 2010

  • http://www.businessweek.com/news/2010-07-15/financial-transaction-tax-might-fix-host-of-ills-ralph-nader.html
    lovinangels

    Answer by lovinangels at 10:11 AM on Aug. 4, 2010

  • Ok, it would appear that it's a separate bill from the financial reform, and it's not going very far....

    ladies, start your telephones...
    lovinangels

    Answer by lovinangels at 10:14 AM on Aug. 4, 2010

  • WIll do....Wow....
    ShelbysHope

    Comment by ShelbysHope (original poster) at 10:17 AM on Aug. 4, 2010

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