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.

So instead of being pro-growth to reduce the deficit or pro-job creation, the Democrats have fallen back into being your typical tax and spenders.

http://www.redstate.com/erick/2010/07/08/democrats-want-to-tax-your-atm-withdrawals/

I wear many hats but history, economics and political observance have always been a passion. I am a graduate of the University of Cincinnati College of Business with a degree in Information Systems and Digital Business with a minor in European History. I work for a small mom-and-pop IT consulting and software design company. We deal in servicing mostly government funded non-profit mental and behavioral health care agencies in the state of Ohio. In this I deal with Medicaid and Medicare funds and have a little insight on the boondoggles of government there. Thankfully the undemanding nature of my daily profession gives me ample time to read and stay aware of our current state of affairs which I find stranger than fiction in many instances. In addition to being in the IT field, I have also been self employed with a small contracting company so I might know a thing or two about the plight of small business that employs 71% of the American workforce. I however don't draw my knowledge from my day jobs, which I have had a few; I draw it from an intense obsession with facts and observation about the world in which I live. I do have formal education in things such as history, economics and finance particularly as it pertains to global issues, but I have come to find much of what I thought I knew from the formalities of a state university I had to unlearn through much time and independent research. I hope you enjoy what I bring you which is not often heard in the mainstream news outlets. I would like to think my own personal editorializing is not only edifying but thought provoking while not at all obnoxious. That last one may be a hard to achieve.

1 Comment

  1. TW in SC

    July 19, 2010 at 10:24 am

    Sooner or later, you run out of other people’s money.

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