Debt Free America Act (HR 4646) Proposes a 1% Transaction Fee

What the terrorists can't accomplish with violence, their sympathizers will destroy from within.

Debt Free America Act (HR 4646)
Introduced by Rep Chaka Fattah, (D. PA)

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.