Obamas finance team recommend a 1% transaction tax on all financial transactions

[Aces High]

Bill HR4646 introduced by Rep Peter deFazio and US Senator Tom Harkin D-Iowa.

Their plan is to sneak it in after the November election to keep it under the radar.

Any deposit or withdrawal you make will have a 1% tax charged, including ATM.

http://www.snopes.com/politics/taxes/debtfree.asp

[syyuge]

So just in 70 transactions the money becomes half without getting any return. Will it increase or reduce the barter trade.

[serbian army]

This would be a disastrous decision. We will go back to native American style of economy with this. I have some extra fish and you have some extra blankets, lets trade behind the corner

[t_h_j]

Bill HR4646 introduced by Rep Peter deFazio and US Senator Tom Harkin D-Iowa.

Their plan is to sneak it in after the November election to keep it under the radar.

Any deposit or withdrawal you make will have a 1% tax charged, including ATM.

http://www.snopes.com/politics/taxes/debtfree.asp

did you read the link you posted?

[takebackourtemple]

Sounds awful, but if someone was to do away with the income tax and implement this, it would still be much better. At least everyone would pay the same 1% regardless of if they were affirmative action morons.