Monday, October 10, 2011

Read My Lips: There's No Tax Here.

Whenever a Democrat runs for political office, it seems like there's an automatic reaction:  "If you elect him, he'll raise your taxes!"

Well, here's one viral email that's told us how it already happened.  Even when it didn't.

Subject: FW: this!!!

Snopes says it is true, this!!!
On January 1st 2012, the government is requiring everyone to have direct deposit for SS checks.
WONDER WHY? - A 1% tax on all bank transactions HR 4646
Watch for this AFTER November elections; remember this BEFORE you VOTE in case you think Obama's looking out for your best interest.
Checked this on Snopes; it's true! Check out HR 4646. 
President Obama's finance team is recommending a one percent (1%) transaction fee (TAX). Obama's plan is to sneak it in after the November elections to keep it under the radar. 
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. 
~If your paycheck is $1000, then you will pay Obama $10 just for the privilege of depositing your paycheck in your bank. Even if you hand carry your paycheck or any check into your bank for a deposit, 1% tax will be charged. 
~You receive a $5,000 stock dividend from your broker, Obama takes $50 just to allow you to deposit that check in the bank. 
~If you take $1,000 cash to deposit at your bank, 1% tax will be charged.
Mind you, this is from the man who promised that, if you make under $250,000 per year, you will not see one penny of new tax. Keep your eyes and ears open, you will be amazed at what you learn about this guy's under-the-table moves to increase the number of ways you are taxed.
Oh, and by the way, if you receive a refund from the IRS next year and you have it direct deposited or you walk in to deposit that check, you guessed it. You will pay a 1% charge of that money just for putting it in your bank. Remember, 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. 
Some will say, oh well, it's just 1%. Are you kidding me? It's a 1% tax increase across the board. Remember, once the tax is there, they can also raise it at will. And if anyone protests, they will just say, "Oh, that's not really a tax, it's a user fee"! Think this is no big deal? Go back and look at the transactions you made from on year's banking statements. Then add the total of all those transactions and deduct 1%. Still think it's no big deal? 
"A government big enough to give you everything you want is also big enough to take away everything you have." - Barry Goldwater

Okay, Snopes did say that this is a "mixture of true and false information".

Here's the list of what's true about this email:

Nor was HR4646 new legislation.  He's introduced the same bill as HR1601, HR2130, and HR1703.  And this year, he's submitted it as HR1125.

So far, he's never found a single congressman to cosponsor this bill.  And no other national politician has has  endorsed any version of this bill.  Including President Obama.  Or anyone in the Obama administration.

So, it's not a law.  And that means that you won't be hit by this proposed tax.

But even if hell froze over and HR1125 passed, this bill wouldn't be a tax increase - this tax would replace the Federal Income Tax.

Overall, the email attention that this bill has obtained seems almost comical.

That is - until you realize that people will write and call congressional staffers to overturn this law - even when it never passed.  This takes up a lot of congressional manpower, time, and energy.

Congressional staffers don't work for free.  How much do you think you're paying in order for them to respond to these silly viral emails?