Greg Abbott Petition
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This email is circulating the web. You can do your own research by using the links below.

ON JANUARY 1, 2014,



Subject: HR 4646

Be sure to read entire explanation

Watch for this AFTER November elections; remember this BEFORE you VOTE.

A 1% tax on all bank transactions is what HR 4646 calls for.

Do you receive a paycheck, or a retirement check from Social Security or a pension fund and have it direct deposit??

This bill was put forth by Rep. Chaka Fattah (D-PA).

YES, that is 1% tax on all bank transactions – HR 4646, every time it goes in and every time money goes out.

Ask your congressperson to vote NO.


1% tax on all bank transactions ~ HR 4646 – ANOTHER NEW OBAMA TAX SLIPPED IN WHILE WE WERE ASLEEP. Checked this on snopes, it’s true! Check it out yourself ~ HR 4646.

This is a 1% tax on all transactions at any financial institution – banks, credit unions, savings and loans, etc.. Any deposit you make, or even a transfer within your own bank from one account to another, will have a 1% tax charged.

If your paycheck or your Social Security or whatever is direct deposit, it will get a 1% tax charged for the transaction.

If your paycheck is $1000, then you will pay the government $10 just for the privilege of depositing your paycheck in your bank. Even if you hand carry your paycheck or any check in to your bank for a deposit, 1% tax will be charged.

You receive a $5,000 stock dividend from your broker, the government takes $50 just to allow you to deposit that check in the bank.

If you take $1,000 cash to deposit at your bank, 1% tax will be charged.

Mind you, 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 about this guy’s under-the-table moves to increase the number of ways you are taxed.

Oh, and by the way, if you receive a refund from the IRS next year and you have it direct deposited or you walk in to deposit that check, you guessed it. You will pay a 1% charge of that money just for putting it in your bank.

Remember, any money, cash, check or whatever, no matter where it came from, you will pay a 1% fee if you put it in the bank.

Some will say, oh well, it’s just 1%. Are you kidding me? It’s a 1% tax increase across the board. Remember, once the tax is there, they can also raise it at will. And if anyone protests, they will just say, “Oh,that’s not really a tax, it’s a user fee”!

Think this is no big deal? Go back and look at the transactions you made from last year’s banking statements. Then add the total of all those transactions and deduct 1%. Still think it’s no big deal?

The following is copied from Snopes:

1. Debt Free America Act
Is the U.S.government proposing a 1% tax on debit card usage and/or banking transactions?
…It is true. The bill is HR-4646 introduced by US Rep Peter deFazio D-Oregon and US Senator Tom Harkin D-Iowa. Their plan is to sneak it in after the…
….moved beyond proposing studies and submitted the Debt Free America Act (H.R. 4646), a bill calling for the implementation of a scheme to pay down the…
…[2010] 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…
Wed, 02 Nov 201111:27:37 GMT



Chaka Fattah

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OpenCongress Summary

This bill seeks to eliminate the national debt by repealing the individual income tax and adding a new 1% tax on all financial transactions, including all consumer transactions like uses of cash, check and debit. It would also repeal refundable and nonrefundable personal tax credits and the alternative minimum tax (AMT). This bill has not attracted any co-sponsors, moved in the legislative process, or gotten any attention from congressional leaders. There is virtually zero chance of it moving in Congress. For more information, see this OpenCongress blog post: Vast Majority of Bills Go Nowhere (Debt Free America Edition).

OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the “Official Summary” below.

Official Summary

2/23/2010–Introduced.   Debt Free America Act – States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee,…Read the Rest H.R. 4646 – Debt Free America Act  5 days ago  The bill is HR4646 introduced by US Rep Peter deFazio D-Oregon and  If your
pay check or your Social Security is direct deposited, 1% – Similar pages

H.R. 4646 was introduced in 2010 by Rep., Snopes and
Politifact Oregon have debunked this myth, with Politifact Oregon calling it a “
pants on – 29k –Similar pages

Viral message warns against HR 4646, claiming Obama plans to impose a  If
your pay check or your social Security or whatever is direct deposit, 1% tax
charged.  Top Related Searches chaka fattah debt free america factcheck org
brooks – 23k –Similar pages

1% tax on all bank transactions HR 4646 – ANOTHER NEW OBAMA TAX
SLIPPED IN WHILE WE WERE ASLEEP. Checked this on snopes, it’s true! Check
out – 33k – Similar pages

18 May 2012  A 1% tax on all bank transactions is what HR 4646 calls for. ….,
Snopes and Politifact Oregon have debunked this myth, with


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