Snap-Dragon #3 - Do You Believe That President Obama Is Going To Tax Every Transaction You Make?

Post date: Jul 03, 2012 3:36:6 PM

Snap-Dragon #3

Do You Believe That President Obama Is Going To Tax Every Transaction You Make? 

The following is a typical Right Wing made up recipe that has been going around the e-mail circuit for the last year. It is a gourmet cook book quality example made up of the ingredients of misinformation, disinformation, and distortion dumped into a blender, mixed, spiced with a few outright lies, and baked at 450 degrees. The resultant slop is then served up to only the most gullible of diners. 

After reading the e-mail (below) it might sound like the real deal; but it is not real and you will see how it is clumsily cobbled together. The author wants you to believe that the evil President Obama is poised to impose a 1% tax on every financial transaction that you make. Furthermore, he isn’t going to do it until after the election in November – so vote against Obama so he can’t cook up this dastardly desert. 

There are a few signs that almost always tip off this type of farce. One is attitude. You can almost taste the loathing for Obama. The hateful chefs can’t resist mixing in a little arsenic into their fine vittles. Also watch out for signs of general paranoia and conspiracy theories. Another tip is the phony reference to a fact check organization, which they know few people will check after hearing that the author has already done so for them and avers this “fact”. 

After reading this piece of tripe you will be very interested in learning that the very fact check organization that is quoted as the authenticator of the e-mail clearly states that the e-mail is an out-and-out lie, and they explain why. 

Beware of the food poisoning loaded ideas you are about to read. Continue on to check the SNOPES link yourself. You will be amazed at how this e-mail was concocted. When you get one of these e-mails check it out and then send the antidote to the person who sent it to you and ask them to pass it back up their chain. 

Here is the MYTH, in its entirety:


From: PLEASE READ and Forward 

Subject: HR 4646 Surprise, Surprise, Surprise !! 




Subject: HR 4646

Be sure to read entire explanation

Watch for this AFTER November elections; remember this BEFORE you VOTE, in case you think Obama is looking out for your best interest. 

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?? 

Well guess what ... It looks as if Obama wants to tax it 1% !!! 

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

President Obama's finance team is recommending a one percent (1%) transaction fee (TAX). Obama's plan is to sneak it in after the November elections to keep it under the radar.

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 Obama $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, Obama 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 

Now that you’ve read this totally made up creation, read the rebuttal by SNOPES. This is the very organization that allegedly verifies the above information. Then just click the link below and you will see what a crock of bull soup you have just been served. If it wasn’t so sad you would have to laugh at what they have to say about this very e-mail. HERE IS THE TRUTH: