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Hr-4646 "debt Free Amerca" Act


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It looks like this one will probably come up for vote after the November elections. It's time to write your local congress man or woman and tell them to vote this one down. A 1% tax could be levied against your deposits (direct, cash or check) as well as your ATM withdrawals. This 1% tax would also be looked at as a national sales tax as items your purchase would also be taxed. Sure, people making less than $250,000 would be able to receive a 1% tax credit - at tax time. However, why should I have to go through this process each and every time I go to the bank, make a purchase, etc. - only to wait a year to see my 1% credit? Now, folks, there's a reason why they're called Dummycrats.

 

 

2/23/2010--Introduced.

Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.

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This is disgusting for many reasons. The first of which is that people who vote for obama and democrats in general are retarded.

 

People are happy to get a tax refund when they should be pissed as hell for not filing correctly. ITS YOUR MONEY!!! you should have had it all along, instead they kept it for a year, interest free. If you owe the IRS even a day they charge you interest don't they?

 

If you buy something for 3.99, hand someone a 5 you don't get happy to get change back, its your money and was never there's in the first place. I'll be damned if I pay 1% to make a single bank deposit

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