Is upcoming tax on your bank account okay with you?

United States
February 21, 2012 2:45pm CST
It seems in January 2013, if all goes terribly, there will be a 1% tax on your bank account - for every incoming and outgoing transaction. Notice it takes place AFTER the presidential election. Does this surprise you? Have you heard about it on the news? What do you think about having your money taxed through payroll and having it taxed again EVERY TIME you use your bank account? By the way, another part of this bill is that EVERYONE must have direct deposit, so even if you take your all your money out of the bank to avoid the tax, it still gets taxed being deposited and being removed. I think it's another way to make sure we have less and less to live on. How do you pay your bills electronically if every check is taxed? Will you have enough to pay those bills? Let me know what you think of this tax and that it takes place AFTER the presidential election.
4 responses
@2004cqui (2823)
• United States
21 Feb 12
Of course it's not OK! No one would agree with this! Now that the middle class has been hollowed out there isn't enough of us to tax in the first place to get ahead.
• United States
21 Feb 12
My apologies to all who answered this. I made the mistake of not doublechecking an email that said this had been proven by the snopes webside. It has NOT been proven.
• United States
21 Feb 12
This is a horrible bill which is why our local Government officials have not backed it. I know our personal finances would take a big hit and we would have a ton of issues stemming from it. It does seem more government scam then anything else though doesn't it?
• United States
21 Feb 12
My apologies to all who answered this. I made the mistake of not doublechecking an email that said this had been proven by the snopes webside. It has NOT been proven.
• United States
21 Feb 12
It seems that someone hasn't done their homework. http://www.snopes.com/politics/taxes/debtfree.asp "The idea of the 1% transaction tax stems from a bill repeatedly introduced by a single congressman which has no support from any other member of Congress and no chance of passing."
• United States
21 Feb 12
You are right and I am wrong. Thank you, TheMetallion. I made the gross mistake of assuming when an email says 'even snopes agrees' that there was no need to double check it. MY APOLOGIES TO ONE AND ALL. I SHOULD KNOW BETTER. Once again, thank you for doing something I should have done - double check any information from emails. Hugs, Maggie
@bobmnu (8160)
• United States
25 Feb 12
Even though this is one congressman how soon before someone else thinks it is a good idea. There are those who believe that the government is entitled to the tax money that is lost due to Medical Savings account, and IRA's and they think the Government should take those funds and use it to save Social Security and in return the government would pay a 3% return. The disturbing part is these staffers and congressmen feel the government is entitled to the money.