Sunday, October 31, 2010

One Percent Concern

I was going to write the e-mail off as campaign propaganda given the time of year, but when I followed a link to the SNOPES website where the information was confirmed as accurate - well I got just a little bit agitated.

The e-mail talked about House Bill HR4646, aka Debt Free America Act.

The bill proposes a 1% tax on every financial transaction. Deposit your paycheck - get taxed 1%, make a withdraw - get taxed 1%, buy a house - get taxed 1%, and so on.

While release of this info is undoubtedly tied to the election, if such a bill were to go through it would definitely be more of a trick on the U.S. workforce than a balancing the budget treat.

Between ideas such as this and the great health care boondoggle I foresee a rapidly expanding underground cash economy - along with a few boatloads of burning tea.

No comments: