debt free america act
To establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals. Debt Free America Act Also check out the response on the Snopes website that is attached at the end of the article.
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Americans owe as of July 2010 more than 13 trillion to our creditors -- mostly foreigners who have.
. Yes Its Possible We all know liberals and conservatives that the growth of the US. 2 The acts goal was to put 787 billion into the pockets of American families and small businesses. The Debt Free America Act it sounds innocent enough until you actually read it.
America Free Summary Act Debt. I heard about this on Neil Bortz several weeks ago. Feb 23 2010 - Introduced in House.
Credit and Debt Counseling. This bill spells it out that everyone will pay the. The truth is that if you find yourself over 10000 in debt you qualify for debt elimination under the Debt Free America Act which mainly refers to the stimulus package that was received by banks.
ON JANUARY 1 2012 THE GOVERNMENT IS REQUIRING EVERYONE TO HAVE DIRECT DEPOSIT FOR SS CHECKS. Congressman Fattah D-PA has once again introduced the Debt Free America Act in the 111 th Congress it was HR. The bill proposes a one percent tax on all financial transactions except stock purchases and sales.
Here is a summery of the proposed Act. It is House Bill 4646 introduced by Representative Chaka Fattah from the 2nd District of Pennsylvania which is primarily Philadelphia and Germantown. 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.
HR 4646 known as the Debt Free America Act is a real bill. Almost 14 trillion now 7 Expressed as a percentage of gross domestic product GDP the national debt reached a high of 1086 percent of GDP in 1946. 4646 would impose a 1 percent transaction tax on every financial transaction whether paid.
2153 E Cedar St Ste 3. HR4646 Debt Free America Act. The debt free america act proposes a 1 percent fee to be charged on all transactions including cash checks credit cards processed through the federal reserve bank and collected at the point of.
HR 4646 IH 111th CONGRESS 2d Session H. As a result the debt limit will be whatever level the debt is on that day. Various forwarded emails that say that we will soon be paying a 1 tax on all transactions conducted with financial institutions.
4646This proposal calls for a 1 fee really a tax on every specified transaction That is any transaction where payment is made by cash check credit card or transfer of stock or other financial instrument. While we do not suggest that it is above the Obama administration along with Harry Reid to sneak such legislation through in the dark of night it is very unlikely such a thing will happen. Congress Passed HR-4646 The Debt Free America Act That Proposes a 1 Tax On All Financial Institution Transactions-Fiction.
4646This proposal calls for a 1 fee really a tax on every specified transactionThat is any transaction where payment is made by cash check credit card or transfer of stock or other financial instrument. I did a search for this topic and found nothing so if this is a repost please let me know and delete. But if it looks like you wont pay they will.
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 taxand the phasing out of the individual income tax. The actual creation of money always involves the extension of credit by private commercial banksIt simply makes book entries for its customers saying you have a deposit with us Source. This is the latest version of the bill currently available on GovTrack.
6 The national debt has grown from 755 million in 1790 to 58 trillion in 2008. A eliminate the national debt which was 63 trillion in January 2009 during a period of 10 years and to phase out the income tax on individuals including interest payments on the national debt which will total 1 trillion annually by 2020 under current fiscal policy and will account for 17 percent of all Federal spending and. LРґuft debt ein 73jГhriger Shooting Craps Table act resulting free helping us free a debt of Kamarupa in the Irwin act here dstb read here 44240 important because the pe.
I just received this via email and thought Id share it with you all. This Act may be cited as the Debt Free America Act. On february 23 2010 fattah reincarnated the bill as the debt free america act hr.
This is the original text of the bill as it was written by its sponsor and submitted to the House for consideration. Debt Free America Act - States as purposes of this Act the raising of sufficient revenue. Multi Location Business Find locations.
Feb 23 2010. Is intended to raise sufficient revenue to eliminate the national debt which was 106 trillion in January 2009 during a period of 7 years and to phase out the income tax on individuals. The Congress finds the following.
Present has been free of a national debt for only two years 1834 and 1835. Heres an interesting new bill introduced by Congressman Chaka Fattah D-PA. National debt is to use a favorite word of our time unsustainable.
In GovTrackus a database of bills in the US. Posted on September 22 2010 by gina branch in Business. It appears to call for a one percent transaction tax and the eventual elimination of individual income tax.
To establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals. Our Mission is to restore a debt free medium of exchange. Congressman Fattah D-PA has once again introduced the Debt Free America Act in the 111 th Congress it was HR.
As the economy tries to recover many Americans have been asking questions regarding rumors that it is now possible to have over half of your credit card debt forgiven.
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