Responsibility the Crime of Our Time

With the deficit climbing the powers to be had a great idea, tax every movement of your money. Suddenly the cash in the shoe box doesn't look so odd.

"One idea for raising taxes to pay down the debt is the bill introduced this February by Rep. Chaka Fattah (D-Pa.). His “Debt Free America Act” (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."--The Hill

Also the federal government had another great idea! Rumors are circulating that confiscation of 401ks and IRA's might fix the budget!

"On August 26, the US Department of Labor issued a news release (http://www.dol.gov/ebsa/newsroom/2010/ebsa082610.html).  It lists the agenda for the joint hearings being held with the Department of Treasury September 14-15, 2010 on what is euphemistically called “lifetime income options for retirement plans.”  The hearings are being conducted by the Labor Department’s Employee Benefits Security Administration." news.coinupdate.com

Articles like this make me excited for my future after college (sarcasm). The people in power are going to keep trying to find ways to "decrease" the deficit. There game plan so far is to sacrifice our future for the "preservation of the present". If we don't get involved soon, if we don't let them know in November, who knows what they will try next. I just can't wait till they find a way to tax the shoe box under my bed.