1% Transaction Tax - Help Reduce the U.S. Government Debt

Jump to Last Post 1-8 of 8 discussions (16 posts)
  1. rb11 profile image74
    rb11posted 8 years ago

    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?

  2. Rochelle Frank profile image97
    Rochelle Frankposted 8 years ago

    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?

    1. Jim Hunter profile image61
      Jim Hunterposted 8 years agoin reply to this

      Yes, but it makes too much sense and so will never happen.

  3. Rafini profile image87
    Rafiniposted 8 years ago

    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%.

    1. tony0724 profile image61
      tony0724posted 8 years agoin reply to this

      BRAVO ! smile

    2. Misha profile image70
      Mishaposted 8 years agoin reply to this

      And what exactly would you do if they do implement this tax?

      1. Rafini profile image87
        Rafiniposted 8 years agoin reply to this

        then I would be forced to pay against my will and I'd cry R@PE!!  lol

        contact my state reps?  congress?  whoever it is I can contact and COMPLAIN my ASS OFF!!  lol

        1. Misha profile image70
          Mishaposted 8 years agoin reply to this

          Ok, I take your word for that wink

          1. Rafini profile image87
            Rafiniposted 8 years agoin reply to this


  4. tony0724 profile image61
    tony0724posted 8 years ago

    As usual the only solution Dems have is Increase taxes. How about reducing the size of Government ? Geez wouldn't wanna do that !

  5. wilderness profile image98
    wildernessposted 8 years ago

    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.

  6. Paraglider profile image93
    Paragliderposted 8 years ago

    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?

  7. JON EWALL profile image75
    JON EWALLposted 8 years ago


    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

    1. Paraglider profile image93
      Paragliderposted 8 years agoin reply to this

      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?

      1. Rafini profile image87
        Rafiniposted 8 years agoin reply to this

        Answer #1: greed begins at the top and apparently the top is government officials. hmm
        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.  hmm

  8. MikeNV profile image78
    MikeNVposted 8 years ago

    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?


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)