November 4, 2011 at 1:17 pm #145034
Has anyone heard (or better yet, CONFIRMED) this new HR 4646 under the Debt Free America Act of 2011 – a ”transaction fee” that is proposed to go into effect after the November elections?? This is a 1% tax on all transactions at any financial institution – banks, credit unions, savings and loans, etc. Any deposit you make, or even a transfer within your account, will have a 1% tax charged. ~If your paycheck or your social security or whatever is direct deposit, it will get a 1% tax charged for the transaction. Any money, cash, check or whatever, no matter where it came from, you will pay a 1% fee if you put it in the bank.
November 4, 2011 at 2:22 pm #145044
Yikes!!! I need to research. I may need to start hiding my $ under my mattress. (That $ is based on the $$$$$ scale).
November 4, 2011 at 5:56 pm #145042
You may want to read this post: https://www.govloop.com/profiles/blogs/banks-the-disruption-begins
November 4, 2011 at 7:40 pm #145040
Wow!!! Well we do have the option of utilizing credit unions… Or does it also apply to them?
November 5, 2011 at 4:07 pm #145038
accurate or not about this tax unless taxes are raised progressively the usa is done as a world power.
November 6, 2011 at 5:18 pm #145036
According to snopes.com, this is a mixture of true and false information. While such legislation has been introduced, it is a pet cause of one particular Representative, and has little or no chance of passage. The proverbial tempest in a teapot.
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