The latest idea to come from Washington is to tax all transactions a 1% tax. So, if you go to the ATM, withdraw $100.00, an additional $1.00 will be added for this tax.
Now, the question is, what qualifies as a transaction? Will it be paying a bill? Will it be buying groceries? How about your $10.00 co-pay when you go to see the Doctor?
Should we embrace this idea to reduce debt? Is this a reasonable solution or do you feel outraged at this point?
A good incentive to start bartering goods and services.
They hope we won't notice a 1%. How about cutting spending by 1 or 5 or 10%? Wouldn't that work better?
I would be willing to pay a 1% 'transaction' tax only if elected officials wages were reduced to minimum wage and all other government spending was reduced by 25%.
And what exactly would you do if they do implement this tax?
then I would be forced to pay against my will and I'd cry R@PE!!
contact my state reps? congress? whoever it is I can contact and COMPLAIN my ASS OFF!!
As usual the only solution Dems have is Increase taxes. How about reducing the size of Government ? Geez wouldn't wanna do that !
Sounds like just another spin on a sales tax to me, and I'm really tired of paying more and more and more taxes for things I'll never use or see.
Be careful of this one, folks. A transaction tax of 1% could easily result in a point of sale price rise of 6 or 7%. That's if it is applied to every transaction (i.e. every time goods change hands) from raw material right through to final retail.
I've written a hub about this effect in UK. If interested, it's called VAT Increase - What does it mean in Real Money?
ENOUGH IS ENOUGH. AN IMMEDIATE SOLUTION IS TO HAVE THE GOVERNMENT reduce public employees fringe benefit 30% , no more spending and no more taxes for starters.
Government shows us how well they run the government‘s business. The average pay in the PUBLIC sector is $70,000 plus $40,000 in fringed benefits, a total of $110,000. In comparison the average pay in the PRIVATE sector is $40,000 plus $9,000 in fringe benefits, a total of $49,000.
SOMETHING is very wrong, why does public employees receive $31,000 more in fringe benefits than the private sector?
Maybe that's the answer to why states, cities and towns are going broke by having the taxpayers
Jon - genuine question from a non-American: Why is private sector pay so low in US? I know you are not fond of taxes, yet taxes in US are still quite a lot lower than most of Europe. So why are your private companies not paying decent salaries?
Answer #1: greed begins at the top and apparently the top is government officials.
Answer #2: minimum wage is kept low by 12-20 million illegal immigrants
Answer #3: why would any company pay a living wage when laws only regulate a minimum?
Answer #4: Why would any company pay a living wage for US workers when they can get a tax break by outsourcing jobs to other countries where they can get away with paying less in wages?
Answer #5: there has to be someone to blame for all the negativity in the States. (stereotypes - only the poor have anger issues, only the poor get involved in drugs, only the poor have addiction issues, the poor don't want to work, the poor want to stay poor otherwise they wouldn't be poor, etc....)
So...take your pick.
If you want a true model of inefficient Government all you have to do is look at the Post Office.
Who is going to fund the Government when the private sector disappears?
Do we need to spend $800 Billion on the Military? They can't scrape by on $400 Billion?
5,700 Nuclear war heads is not enough?
by leeberttea7 years ago
Amount of new census jobs in May: 411,000Total census workers 564,000Cost to count American citizens 14.5 billionCost to count American citizens in 2000 4.5 billionTotal workers in private sector for comparison:• Oil...
by ptosis56 minutes ago
federal income tax rates history, During the eight years of the Eisenhower presidency, from 1953 to 1961, the top marginal rate was 91 percent. (It was 92 percent the year he came into office.)What does it mean, though?...
by Moderndayslave4 years ago
With wages adjusted for inflation either stagnant or losing ground and commodities and the cost of living going up. Is the US economy being systematically gutted or is this just a coincidence? What's your opinion and...
by GA Anderson4 years ago
Political pundits are saying the Obama admin is floating the typical "trial balloons", (ie. rumors to pundits to get it in the public conversation/news), of a wealth tax - to see if it would have a...
by Ralph Deeds4 years ago
Paul Krugman:" Back in 2010, self-styled deficit hawks — better described as deficit scolds — took over much of our political discourse. At a time of mass unemployment and record-low borrowing costs, a time...
by safiq ali patel4 years ago
From January 1st 2013 Taxes in the United States of America go upwards. People in the United States of America will pay higher taxes from this day. What is your opinion of these Tax Rises?
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.