o'robin hood - 1% 'tax' on investments & bank accounts transactions. (Reply from Congressman Duncan Hunter)

From: lc Sent: Thursday, August 25, 2011 Subject: FW: Reply from Congressman Duncan Hunter

re the attached: It's going around the internet fast and furious - was first proposed by Reid, the ******* from NV and as I recall, the ******* from San Fran was involved now some more liberal *******'s are pushing it-sure hope this is really passed around. -- E

     I wrote my district congressman to find out if it was true that there was legislation wandering around to add a 1% 'tax' (it's called a 'fee') on every transaction made in your investments and bank accounts (think about how many times your stock is moved, bought and sold, and how many times you write checks or receive your monthly Soc Sec, MediCare, retirement that are automatically put into your checking account).  Unfortunately, IT'S TRUE!

     I was in shock.  I would suggest you take this letter's information and contact your Senators and Congress(wo)men to say yes or no to this legislature.  If there is a 1% tax on each transaction on our bank account, pretty soon there would not be enough money in there to support us monthly.  Our investments do not move around much at all, so that would not be so terrible.

     In any event, this is just something I felt my friends should know about, because it was just a rumor that I wanted to nip in the bud....too bad it wasn't a rumor. 

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August 18, 2011 Dear M: Thank you for contacting me with your opposition to the Debt Free America Act.  I appreciate the opportunity to respond to you on this important issue. Like you, I believe that last thing Americans need during this time of economic uncertainty is an additional tax on financial transactions.  As you mentioned, Congressman Chaka Fattah has introduced, the Debt Free America Act, formerly H.R. 4646 in the 111th Congress but now H.R. 1125 in the 112th Congress.  This legislation would put in place a one percent tax on transactions that use a payment instrument, including any check, cash, credit card, and transfers of stock, bonds, or other financial instruments.  This bill has been referred to several House Committees for consideration, most importantly the Ways and Means Committee which deals primarily with tax legislation. I firmly believe that one of my primary responsibilities as your representative in Congress is to lessen the burden which the federal government places on taxpayers and support efforts to reform the tax code making it more fair and equitable to all working Americans.  Americans should have the opportunity to keep more of their hard earned money to spend, save and invest as they see fit.  Please be assured that as we continue to consider legislation regarding this issue in the 112th Congress, I will be sure to keep your thoughts closely in mind and will continue to oppose any tax increases considered during a lame duck session. Again, thank you for contacting me.  Please do not hesitate to let me know if you have additional questions or concerns.  Sincerely, ,Duncan Hunter, Member of Congress Please visit my website at hunter.house.gov to sign up for my e-newsletter and receive electronic updates.

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