New taxes. If they are new taxes then they are not being raised. Yea.
They are floating a transaction tax to pay for our debt:
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.
Also they seem to be reviving the idea that we should tax into submission one of the only bright spots we can point to...the internet.
The president’s deficit commission is expected to report its recommendations shortly after the midterm elections. It’s widely expected that Congressional leaders may attempt to push through any tax increases during the lame duck session – before a new Congress is sworn in, in January. Don’t be surprised if a new tax on internet commerce is seriously considered.
You see, we have to pay for the non-stimulation stimulus packages, bank bailouts, and cheap home loans the fed gave us by purchasing our own treasuries.
Are you stimulated yet?
Polifrog would find austerity far more stimulating.
Of course, brought to you via RedState.
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