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Cars > 55Stepside’s Garage > Blog > Our illustrious President is doing it to us again


55Stepside’s Profile Photo


M –73
Charlotte, North Carolina
United States


Our illustrious President is doing it to us again

By 55Stepside

Its no wonder that the gov would propose this........ever look at the lines at the ATMs with people paying fees AND all the Ky check cashing joints. People are already used to paying big fees.

1% tax on all bank transactions HR 4646


Checked this on snopes, it's true!
Check out HR 4646

A one percent transaction fee (TAX), proposed by President Obama's finance team, is recommending a transaction tax. His 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 pay check 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 ten bucks just for the privilege of depositing your pay check in your bank. Even if you hand carry your paycheck or any check in to your bank for a deposit, 1% tax will be charged. You receive a $5,000 stock dividend from your broker, Obama takes 50 bucks just to allow you to deposit that check in the bank. If you take $1,000 cash in 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 guys under the table moves to increase the number of ways you are taxed. Oh, and by the way, you receive a refund from the IRS next year....and you have it direct deposited or else 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 from last years banking statements. When you add the total of all the transactions you did last year, then deduct 1%. Still think it's no big deal???

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Cars > 55Stepside’s Garage > Blog > Our illustrious President is doing it to us again

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