Adding a link to the actual text of the bill for your reading "enjoyment"
http://thomas.gov/cgi-bin/query/F?c111:1:./temp/~c111k9FZeM:e6505:
The following email is TRUE. Snopes confirms that it is true but as usual with most item that are political in nature they like to add their own spin. In this case they try to downplay the Bill by saying that it has little support and probably won’t pass. Snopes, as usual in relation to their far-left political agenda, is doing exactly what Obama wants, trying to discourage anyone from paying any attention to the Bill right now, and then after the November elections…….
HR-4646 introduced by US Rep Peter deFazio D-Oregon and US Senator Tom Harkin D-Iowa. It is now in committee and will probably not be brought out until after the Nov. elections. I strongly suggest that you contact your US Congressman and Senators to let them know this bill must not come up for a vote. President Obama's finance team is 100 Percent behind this bill and we all know what happened when they got behind the Health Care Bill that no one wanted. His plan is to sneak it in after the November election to keep it under the radar. This is a 1% tax on ALL transactions at any financial institution i.e. Banks, Credit Unions, etc.. Any deposit you make, or move around within your account, transfer to or from, will have a 1% tax charged. If your pay check or your social Security or whatever is direct deposit, 1% tax charged. If you hand carry a check in to deposit, 1% tax charged. If you take cash in to deposit, 1% tax charged. 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. Some will say aw it's just 1%... remember once the tax is there they can raise it at will.
Here is the wording right out of the legislation summary...
Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions.
So let it sink in now......... We will pay ONE PERCENT of every amount involved in EVERY TRANSACTION involving a credit card, check, cash deposits. Virtually all transactions in your life will be taxed ONE PERCENT. Just think about this. You sell your house. You get a big fat check for the equity in the home. After the mortgage is paid off at the closing, your net, lets say $250,000. You go to deposit your check in your bank account. You pay the government 1 percent of that = $2,500 on deposit. Then you make a few credit card purchases and pay another 1 percent to the government. Then you write a few checks to pay off your credit card bills when they come in and guess what, another 1 percent. You will be TAXED ON THE VERY SAME MONEY YOU JUST PAYED TAXES ON YET AGAIN AND AGAIN AT ANOTHER 1 PERCENT.
Just remember, You have been warned!!!!!