The 1% Transaction Tax or "Debt Free America Act"

[pritchet1]

Why the TEA parties were created...

http://www.realclearpolitics.com/video/ ... merit.html

Beulah wrote;

This is a 1% tax on all transactions to or from any financial institution i.e.. Banks, Credit Unions, Mutual funds, Brokers, etc.

-Any *DEPOSIT* you make will have a 1% tax charged.

-Any *WITHDRAWAL* you make, 1% tax.

-Any transfer within your account, a transfer to or from savings and checking, will have a 1% tax charged.

-Any ATM transaction, withdrawal or deposit, 1% tax.

-If your pay check or your Social Security is direct deposited, 1% tax.

-If you carry a check to your bank to deposit, 1% tax.

-If you take cash in to deposit, 1% tax.

-If you receive any income from a bond or a dividend from stock, 1% tax.

-Any Real Estate Transaction, 1% tax. (This is on top of the 3.8% they just slid in on you) total nearly 5%, commission + tax 11%, some states "Excise Tax is an additional 1+% 12% OR MORE)

-Pay for your insurance (health)... 1%

-Consider 1% on the buyer of coming in, and 1% on the seller going out 2% of all transactions... unreal. Some areas in California are over 9%, add two more 11%. Who are they kidding???

http://en.wikipedia.org/wiki/Financial_transaction_tax

The Debt Free America Act or H.R. 4646
Commentary
http://www.swifteconomics.com/2010/09/2 ... erica-act/
Summary
http://www.govtrack.us/congress/bill.xp ... ab=summary
Full Text
http://www.govtrack.us/congress/billtex ... =h111-4646
In Committee
http://www.govtrack.us/congress/bill.xpd?bill=h111-4646

Remember that any tax put into law can and will be raised.