Thursday, July 8, 2010
Good thing the Democrats are in power...
Democrats Want to Tax Your ATM Withdrawals
You remember Lanny Davis, right? He’s the nice guy you sometimes get confused with Leon Panetta because they both worked for Clinton and their names both start with “L”.
But when Davis speaks and floats ideas, it is more than just your run of the mill Washington personality floating an idea. When Lanny Davis drops an op-ed, there tends to be more to it. So we should take note that he’s got Democrats signing onto a plan to tax your ATM withdrawals.
Why, you ask? Well, to pay down the deficit.
Rep. Chaka Fattah (D-Pa.) has introduced Davis’s dream legislation. It would charge a penny for every dollar of your money drawn from an ATM machine. That would then beg the question — why put your money in a bank if you are going to get taxed merely for the right to access your money.
But wait . . . it’s gets better. They’re back to wanting to tax the internet too.
House Energy and Commerce Communications Subcommittee Chairman Rick Boucher (D-Va.) has introduced legislation to allow retail sales taxes to be levied on internet purchases.