Economic Education

Ahh for those of you who doubted me from the beginning when I said that the Democrats would simply redefine what a "tax" is and where the boundries were between upper/middle/lower incomes ...

HAA --

be prepared to lose MORE of your money ... we aren't even talking income here ... ANYTHING that involves money will be getting an extra "Transaction Tax" ...

Need to move money from your savings to your checking to cover things just in case things hit all at once? you will pay extra ...

paying that electric/cable/water bill? There's that tax again ...

Getting a mortgage? Yep you will not only be taxed for getting the money, you will be taxed again for each payment to make on the mortgage.

Need gas? Well they already have a federal tax on that, so you will be safe, right? NOPE -- you still have to pay for it, so yes you will be taxed twice on it.

The National Transaction Tax is proposed, and getting shoved thru, by a PA congressman ... it will come to 1% .... and it will sit ON TOP of all the other taxes you already pay ...

so yeah, cash that paycheck - you get hit again.

"Theoretically, everyone would pay 1 cent on every dollar for every such
transaction in America -- every day -- whether its $3Million on a $300Million
business acquistion, or $300 on the purchase of a $30,000 car, or even $5 on a
$500 ATM withdrawl"

Lanny Davis, July 6

So which group of people do you think this is going to hurt the most?

The lower income who tend to use cash for everything so its easier to do things "under the table" - the rich who can stand to go "in for a penny, in for a pound"? No it will be the middle class who are already struggling to keep their heads above water!!

"Are you confused? An idea that would raise taxes, spread the pain, pay down the National Debt and require pledges from politicians to protect the dedicated revenues? Is that a liberal idea or a conservative idea? I think its both - its truly a purple idea."

HOLY CRAP!!! This guy has no idea what the heck he is really saying ...

So he is saying that because the National Debt is so high -- we have to tax MORE to fix things ... without a single mention of trying to cut spending.

And there is no way around it -- ANYTHING that involves using cash (supposably) ... check ... or credit card (and they say that lower middle incomers are more likely to pay by cc than anyone else for everyday things) ...

then you will charged for cashing that pay check ....
charged for putting the money in the bank ... and for writing that check (on top of bank fees) ...
charged for charging the card and again for paying it off and again for having the check clear the bank.

to pay off the National Debt which the Dems have ran up nearly unchecked for the last 4 years that they have had control of Congress!!! And the majority of that has been during these last 2 years under Obama!

Don't believe me???

The CBO - they are the ones who watch the budget - the National Debt will be 62% of the GDP - which is a better way of looking at things in the big picture since it puts nations on the same footing, and even administrations (not based solely on the $$ owed)

When Bush left? It was only 40% of the GDP ... yeah, its not pretty but still ....

Would you rather have 40% of your paycheck taken for taxes or 62%???

Mr. President??

What happened to your pledge not to raise taxes by one single dollar for Americans??

oh ok ... I guess you really aren't raising it by a single dollar ...

bend over people and grease up your butts!!! Here they come!