They will say something like this: "FOR THE GOOD / SURVIVAL OF THE NATION AND IT'S CITIZENS THIS BILL MUST BE PASSED NOW" . . . This bill, or anything similar to it, must never be passed. Here is a summary from this citizen / layperson's reading . . .
The person who brought HR4646 to my attention yesterday is a very reliable person who doesn’t go chasing conspiracy theories and the like. I can see it now – any day – they bring this out of committee and begin to cram this thing down our throats as an emergency, as they did everything else . . . not to mention this bill has “fast track” built into it . . . They will say something like this: "FOR THE GOOD / SURVIVAL OF THE NATION AND IT'S CITIZENS THIS BILL MUST BE PASSED NOW" . . . This bill, or anything similar to it, must never be passed. Here is a summary from this citizen / layperson's reading . . .
“Debt Free America Act” . . .
NOTE: I can see this coming out just before voting as “we are going to save America together” crap . . . or just wait for after the vote and do a fast lame duck we will save America as our last act in power.
HAHAHAHAHA Congress?!!!!!!! Finds the current tax system to be bad for numerous reasons
Purpose: states how it is different from other kinds of taxes . . . and will reduce 10.7 trillion in debt over next 7 years ----
Notes: So we don’t pass it on to our kids, we can all starve to death with the tax hike plus this gem!!!!!! Now let me get this straight . . . I get to pay a new tax in order to pay back the money that the government gave to it’s cronies for stimulus and job growth that never happened????? Great.
It also eludes that the Income Tax System will be phased out at some unspecified time in the future, and this will replace it. Oh boy!!! Like they will ever let us off the hook for the other once this is in place!!!! There will always be some emergency to push that date back.
SEC3 (Can this get any better?)
Verbiage of this being an ADDITION to IRS TAX Code for these Transaction Fees = 1% of ALL transactions
Note: HMMMMMMMM we are ADDING to the tax code we are going to REPLACE???? Duh – big clue here that the tax code ain’t going completely away!!
1. Any check, cash, credit card, stock transfer, bonds, or other financial instrument
2. Retail & wholesale sales, purchases of intermediate goods, financial and intangible transactions
3. Always due at Point of Sale / Transaction
4. Fees collected by seller or financial institution
NOTE: They are thinking that you won’t even feel it because it will be collected from you via your bank account and via every purchase you make – but 1% of ALL YOUR PURCHASES AND TRANSACTIONS IS EQUAL TO WAY MORE THAN THE DEDUCTION YOU WILL BE TAKING ON YOUR INCOME TAX RETURN.
5. Paid to Secretary (of Treasury?)
6. Potential exclusions (stock?)
7. “Secretary” can write / create the procedures / rules.
Also, If you don't collect it as the seller . . . you get to pay it anyway (same as sales tax)
Implies that if passed this November – effective 2011 calendar year
- a. While Income Tax and This Tax are in dual effect – Tax Credit equal to 1% of ADJUSTED Gross Income. (LOL?)
- b. ????????? any help out there on this one????
- c. ????????? any help out there on this one?????
These last two are talking in circles, and it can't be good - it seems that there are already ways for them to reduce your deduction at year end.
The “Task Force” = Bipartisan group of government people – will determine “fiscal imbalances” and plans of action . . .
Note: Could they mean further uses of the money collected other than paying off the 1+ trillion debt?????????? But of course, this is their M.O.
Task Force will consist of:
1 Secretary of Treasury
1 Other person appointed from President’s staff / czars
4 Republicans from Senate
4 Democrats from Senate
4 Republicans from House
4 Democrats from House
Equal total of 18 members.
APPOINTED FOR AS LONG AS TASK FORCE EXISTS
Note: If appointed in next few months, the first two positions are likely Democrats - giving them a majority.
2 Co-Chairs from that group
And they will HIRE A STAFF DIRECTOR
14 member quorum
A whole lot of verbiage on Fast Trak rules to get through House and Senate quickly & no time for debate and further Fast Trak rules if House does not pass, to pass the bill anyway.
NOTE: HOW CONVENIENT!!!!! This makes cramming bills down our throat a way of life.
Funded with 9 million from the American Recovery & Reinvestment Act of 2009
Secretaries of Treasury and of State – to determine when and if repayment of any of the 1+ trillion would be DETRIMENTAL FOR THE NATION.
Note: This is rich. It looks like a built in way to re-appropriate money anywhere they want it.
Basic BS on taking the IRS employees into this new entity once it recommends what to ditch about IRS TAXES by way of what to repeal of the IRS TAX Code.
SOMEWHERE IN HERE ARE THE DATES FOR THIS TO BE CONSIDERED AND PASSED BY NOVEMBER, AND IMPLEMENTED BY DEC . . . IT COULD COME OUT OF COMMITTEE ANY TIME AND GO FORWARD.
Juanita has forty five years experience as an Accountant. During her last twenty eight years she specialized in the start up phase and / or the recovery phase of businesses from two million in revenue per year, to fifteen million per year. Her sphere of successful influence ranges from accounting, to operations, to the backroom marketing effort. Streamlining and organizing out of control businesses is serious fun for her.
The art of raising a family while working was of supreme importance to her; and she chose a route of self-education coupled with some college. Her endeavors in self-education range from philosophy and history, to Christian studies outside of mainstream religious organizations. Much of her college dollar was spent on enhancing natural management skills and writing skills.
Although Juanita has lived in many regions of the country, she is settled near the Gulf coast in her home state of Texas.