Christian Debt Recovery

Debt Free America Act H.r. 4646

November 24th, 2010 |

Author: Gavin

How do you like this idea to pay down the U.S. national debt of $13 trillion?

One idea for raising taxes to pay down the debt is the bill introduced this February by Rep. Chaka Fattah (D-Pa.). His “Debt Free America Act” (H.R. 4646) would impose a 1 percent “transaction tax” on every financial transaction — whether paid by cash, credit card or any form of financial transfer, the only exception being transactions involving the purchase or sale of stock. Theoretically, everyone would pay one cent on the dollar for every such transaction in America every day — whether $3 million on a $300 million business acquisition, $300 on the purchase of a $30,000 car, or $5 on a $500 ATM withdrawal.

http://thehill.com/opinion/columnists/lanny-davis/107351-a-debt-free-america-yes-its-possible

That would function like a mini-VAT. I read that article from “the hill” and it says they would put that money in a special separate trust fund. Maybe they would store that lock-box right next to the Social Security lock-box. I know what that special trust fund will really be used for…These clever politicians will be allowing the government to steal the income that we work hard for so they can redistribute it to finance their coup.

Didn’t they just Limit the fees banks can charge on ATM withdraws… here’s an act of not seeing what the other hand is doing, or maybe our liberal-progressive politicians are juggling so fast that if a few balls are dropped, …. oh well!