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Proposed bill for a 1% tax on all banking transactions.

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  • Proposed bill for a 1% tax on all banking transactions.

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

    These politicians just don't get it. Not only is this tax unfair it will just drive more transactions underground or under the table. They just don't understand how the economy works. No doubt congress will try to at some point get rid of paper money to be able to track all transactions. That's when you will see stuff like Facebook credits being traded as legal tender starting with the youth that will see through Big Brothers bull****.
    Randy

  • #2
    Re: Proposed bill for a 1% tax on all banking transactions.

    Someone wake up on the wrong side of the dust storm? Why not tax it, it is a commercial transaction after all. Shows one potential pitfall in "flat tax" schemes. Facilitation of access to money is nasty retail rent seeking. ATM's here charge $2.50 - $4 a pop, many accounts pay additional fees on top of that to have the card[s], and then there are already the transaction fees in place by the industry that sold the whole deal on how it was going to reduce the cost of banking. Make it 10%, and maybe folks will stop using plastic and paying today's expense tomorrow.
    “I find the curiosity of our men with respect to this animal is pretty much satisfied.”
    ~ Meriwether Lewis

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    • #3
      Re: Proposed bill for a 1% tax on all banking transactions.

      Originally posted by MarkMc View Post

      Why not tax it...
      Let's tax ourselves prosperous! Tax all winks and nods! Burps and farts!
      Richie Poor

      See no evil, hear no evil, speak no evil, value engineer your unit prices.

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      • #4
        Re: Proposed bill for a 1% tax on all banking transactions.

        Originally posted by Overbuilders View Post
        Let's tax ourselves prosperous! Tax all winks and nods! Burps and farts!
        Speaking farts, this was passed on by a friend, and is just as significant as the 1% solution...

        Russian President Dmitry Medvedev has signed legislation that officially classifies beer as alcohol in Russia.

        The new law will allow controls on the sale of beer and other “low alcohol” beverages in an attempt to reduce alcohol abuse in Russia, a country with an alcohol consumption that is twice the critical level set by the World Health Organization.

        Until now, any drinks containing less than 10 percent alcohol have been classified as a foodstuff in Russia, with no restrictions on sales.

        Russians have tended to treat beer as if it were a soft drink, and it is has even been marketed as a healthier alternative to vodka, the BBC says. Beer has soared in popularity in recent years, while vodka sales have fallen.
        “I find the curiosity of our men with respect to this animal is pretty much satisfied.”
        ~ Meriwether Lewis

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        • #5
          Re: Proposed bill for a 1% tax on all banking transactions.

          Originally posted by MarkMc View Post

          ...and is just as significant as the 1% solution...
          Wonder how that will incite the Russian Tea Party?
          Richie Poor

          See no evil, hear no evil, speak no evil, value engineer your unit prices.

          Comment


          • #6
            Re: Proposed bill for a 1% tax on all banking transactions.

            Originally posted by swbuilder View Post
            http://www.snopes.com/politics/taxes/debtfree.asp

            These politicians just don't get it. Not only is this tax unfair it will just drive more transactions underground or under the table. They just don't understand how the economy works. No doubt congress will try to at some point get rid of paper money to be able to track all transactions. That's when you will see stuff like Facebook credits being traded as legal tender starting with the youth that will see through Big Brothers bull****.
            Randy - Did you read the entire Snopes article you posted? Seems you are worried about essentially nothing....

            Let the disinformation continue. :)
            “Racism is man's gravest threat to man - the maximum of hatred for a minimum of reason.”
            Abraham J. Heschel (Jewish theologian and philosopher, 1907-1972)

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            • #7
              Re: Proposed bill for a 1% tax on all banking transactions.

              Originally posted by davenorthup View Post
              Randy - Did you read the entire Snopes article you posted? Seems you are worried about essentially nothing....

              Let the disinformation continue. :)
              Why should I not be worried Dave? Do the politicians just like to head fake us to keep us in line? Like a twist on the old Prince song "I want to party like it's 1955". Im sick of the Federal government getting into everything although i'm sure you are more than satisfied with hope and change.
              Randy

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              • #8
                Re: Proposed bill for a 1% tax on all banking transactions.

                These types of bills are proposed all the time and have zero chance of going anywhere. If you are worried so much about this I would not advise looking into other bills that are floated that have zero chance of passing. I am sure your blood pressure would spike.
                “Racism is man's gravest threat to man - the maximum of hatred for a minimum of reason.”
                Abraham J. Heschel (Jewish theologian and philosopher, 1907-1972)

                Comment


                • #9
                  Re: Proposed bill for a 1% tax on all banking transactions.

                  Originally posted by swbuilder View Post
                  Im sick of the Federal government getting into everything although i'm sure you are more than satisfied with hope and change.
                  They are pesky critters alright. Let's shut down the dam and plug the CAP. Once a cash buyer steps up then heck ...
                  “I find the curiosity of our men with respect to this animal is pretty much satisfied.”
                  ~ Meriwether Lewis

                  Comment


                  • #10
                    Re: Proposed bill for a 1% tax on all banking transactions.

                    Originally posted by swbuilder View Post

                    Like a twist on the old Prince song "I want to party like it's 1955."
                    Dude. It's 1999. I mean it's 2011, but the song was 1999. I mean...
                    Richie Poor

                    See no evil, hear no evil, speak no evil, value engineer your unit prices.

                    Comment


                    • #11
                      Re: Proposed bill for a 1% tax on all banking transactions.

                      Originally posted by Overbuilders View Post
                      Wonder how that will incite the Russian Tea Party?
                      They done that in 1917. It didn't end well

                      Comment


                      • #12
                        Re: Proposed bill for a 1% tax on all banking transactions.

                        Originally posted by davenorthup View Post
                        These types of bills are proposed all the time and have zero chance of going anywhere.
                        Then what's the point?

                        Tom
                        1) Unconsciously Incompetent: He knows not, and knows not that he knows not. He is a fool. Shun him.
                        2) Consciously Incompetent: He knows not, and knows that he knows not. He is simple. Teach him.
                        3) Unconsciously Competent: He knows, and knows not that he knows. He is asleep. Wake him.
                        4) Consciously Competent: He knows, and knows that he knows. He is wise. Follow him.

                        May we all endeavor to progress from not knowing that we know not, to knowing that we know.

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                        • #13
                          Re: Proposed bill for a 1% tax on all banking transactions.

                          Originally posted by TSJHD1 View Post
                          Then what's the point?

                          Tom
                          Read the Snopes article, it discusses how certain congresspeople are hung up on their own special idea that no one else cosponsors or votes in favor of.
                          This particular thing never made it out of committee and has exactly one sponsor in one house and zero in the other with no support from leadership or the executive branch.
                          Just one more hyperventilating fake email to get everyone excited.
                          Doug

                          Favorite tool this week: Leatherman Wave

                          Blog:
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                          Three types of furnace for your renovation
                          Deconstruction: the thrifty, green start to your remodeling project

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                          • #14
                            Re: Proposed bill for a 1% tax on all banking transactions.

                            Originally posted by ThingOfBeauty View Post
                            Just one more hyperventilating fake email to get everyone excited.
                            Yeah but the author can go home to the good folks who elected them and say they tried. Then of course is the plot to pressure the pendulum to swing a bit more to the proper side which must be what all the wacko's signed up for or contemplating signing up for the GOP primaries thus far are all about - nut x 4 makes nut x 2 twice as good! Twice as good! That's akin to 50% off.
                            “I find the curiosity of our men with respect to this animal is pretty much satisfied.”
                            ~ Meriwether Lewis

                            Comment


                            • #15
                              Re: Proposed bill for a 1% tax on all banking transactions.

                              Originally posted by Overbuilders View Post
                              Dude. It's 1999. I mean it's 2011, but the song was 1999. I mean...
                              Richie,
                              I said "twist" to the old Prince song. I think we've probably gone downhill as a nation since the 50's. By the way. A friend and I booked a day to record 2 songs in Princes Paisley Park studios in 1988 or 1989. Drum machine crashed and with no backup beats programmed it turned to be a bust. Still got thanked as a client in some paper year end promo. I bet Prince still has my 2" Ampex tape!
                              Randy

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