Yes, he lied about that too.

President Obama's finance team is recommending a transaction tax...His plan is to sneak it in after the November election to keep it under the radar.

(Read the Text of H.R. 4646 here) This is a 1% tax on all transaction at any financial institution i. e. Banks, Credit Unions, extra. Any deposit you make, or move around within your account, i. e. transfer to, will have a 1% tax charged.

If your pay check or your social Security or whatever is direct deposit, 1% tax charged.

If you hand carry a check in to deposit, 1% tax charged.

If you take cash in to deposit, 1% tax charged.

The MSM would like you to believe this is a dead bill...it's not.  Right now it is currently sitting in stay in the Ways and Means Committee

According to a U.S. Government legislation review website, the bill's current status sits as such:

H.R.4646
Title: Debt Free America Act
Sponsor: Rep Fattah, Chaka [PA-2] (introduced 2/23/2010)      Cosponsors (None)
Related Bills: S.2965
Latest Major Action: 2/23/2010 Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

ALL ACTIONS:

2/23/2010:

Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

2/23/2010:

Referred to House Ways and Means

2/23/2010:

Referred to House Budget

2/23/2010:

Referred to House Rules

2/23/2010:

Referred to House Appropriations

 

This bill is still very much alive and could find it's way into passage if a certain Party remains in power.