“Don’t Tax My Credit Union!” a call for action email

[L0oniX]

Here's your chance to affect what the banksters are doing TO SCREW YOU! Remember the "move you money to a credit union" day? Well the banksters took notice and they are trying to "equalize" credit unions to themselves by using their puppets in congress to tax a collective non profit organization. Congress is responding as I have received an email from my local rep acknowledging my concerns but I am going to continue to do what I can to stop the banksters. Bellow is an email I received today I thought I would share so you can also join in the fight against these too big to fail assholes who now want to force you back into their greedy fly trap. They want everyone to pay fees to keep and use your own money.

Dear Credit Union Advocate:

Washington D.C. is relatively quiet this month as Congress has “recessed” for its traditional August break. Of course, that doesn’t mean we can let up our campaign to tell Congress “Don’t Tax My Credit Union.” We can’t let up because the big bank lobby isn’t letting up. The bankers want to use the tax reform process – still going on behind the scene, with bills scheduled to be introduced in September or October – as a means to raise your taxes and tax credit unions out of existence in the process. The American Banker Association has even launched a website and grassroots campaign asking Congress to tell credit unions, “It’s Time 2 Pay.” Well, we think the 96 million Americans who rely on their credit union every day pay enough already. We know that a tax on credit unions is just another tax on those same 96 million credit union members. So keep it up. Keep telling Congress “Don’t Tax My Credit Union!” With Congress at home for the summer, what can you do? It’s easy. Find your Congressman and tell him in person. Chances are her or she is nearby during the recess, which offers the best chance for your Representative or Senator to hear from you how important your credit union is to you and your family. Take advantage of Congressional Town Halls in your area. Drop by her local office. Tell your Representative and Senators to leave credit unions alone when it comes to tax reform. And just for good measure, consider sending another email via www.DontTaxMyCreditUnion.org, sharing your story on social media with the hash tag #DontTaxMyCU, or even calling your Congressman’s office via our toll free number, 1-877-642-4223. But however you do so, please continue to engage. The stakes are too high. You know what your credit union means to you, and now is the time to fight to protect it. Keep telling Congress, “Don’t Tax My Credit Union!”

Your Don’t Tax My Credit Union campaign team

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[DoBotherMe]

1. k & r

[L0oniX]

2. bump

[Dreamer Tatum]

3. I'm sorry - why shouldn't credit unions be taxed, exactly? nt

[L0oniX]

4. Because they are non-profit. n/t

[Dreamer Tatum]

5. They're CALLED nonprofits, but they do in fact earn tidy cash profits.

I'd tax them.

[L0oniX]

6. Wow ...do you work for a bank?

[Dreamer Tatum]

7. No. I think you are somehow under the impression that taxing CUs

would send the money to the banks? Um, no - it goes to the Treasury. You understand that, right?

I thought tax receipts were a good thing...silly me. Turns out putting your money in a CU is really
just a form of tax evasion...who knew.

[L0oniX]

8. Oh geeze another pissing reframe contest. Enjoy your bank job.

[Dreamer Tatum]

9. Translation: D'oh! nt

[L0oniX]

10. If you are against CU's then start your own op. Plenty of people here moved to CU's.

I suppose according to you they moved their money because they are stupid. Enjoy your world.

[Dreamer Tatum]

11. You argue like a child. I asked why CUs shouldn't be taxed.

And I've yet to hear a reply that would pass muster with an adult. Instead I get accused of working at a bank (like that's a BAD thing?)

I never said anyone who moved their money to a CU is stupid, or a doo-doo head, or a poopy-butt, or whatever other words people like you use in place of reason. I DID say that CUs do, in fact, make money in cash terms from their activities. Why not tax them?

Let me guess - if it was Kinecta First Baptist Church and not Kinecta Credit Union, you'd be singing a different tune, huh?

[L0oniX]

14. ..and you argue like a shill for the banks and or a child trying to play a game.

Since you seem to be unable to figure this out on your own I will help you. Taxing non-profit CU's will force them to seek fees or other means of paying for that which will equalize them with the banks. So there would be no point in moving your money to a CU where you can enjoy no fee debt cards. low interest car and home loans. You reframed this by inferring that I was against for profit organizations paying taxes. So far you have not proven that CU's are for profit. All you've done is reframe and use this op to play the usual pathetic childish shill game. You are the one responding like a child in that your response it that of one who thinks they have won some sort of game here. Enjoy your little school yard world.

[Dreamer Tatum]

18. CUs aren't for accounting profits. If you think they don't make cash profits, you're mistaken.

but I suspect you don't know the difference between the two, so nevermind.

[L0oniX]

19. more reframing ...pffft

I never said there weren't any cash profits. Do you even know what they do with those "profits"? I doubt it.

[Dreamer Tatum]

20. I know what they don't do with them. nt

[srican69]

15. They are are coop- they have no profits .. any money they make is passed back to its customers in

form of lower lending rates and higher savings rate ...

Bottom line - its a good choice for the consumer.

Now do you realize why the big banks are terrified of the prospect this taking hold in the market .. as a matter of fact - the 'Grass Roots' campaign to tax credit unions is an astroturf movement funded by - you guessed it - Commercial Banks.

I think I have the right to own shares in a mutual Co-op and not be taxed for it ( which is what a FCU is) ..and that threatens the business model of the commercial banks.

Now - go and do the right thing.

[Dreamer Tatum]

16. I get that. But totally tax-free? No. nt

[srican69]

21. why do you oppose the tax-free status? What is your philosophical angle on this?

Is it fundamentally because

1) it reduces tax base for the government and everything should be taxed including all non-profits such as colleges and charities? they all make an operational surplus(profit??) too - (else they would have to shutter down)

2) FCU's should compete with commercial banks on an even playing field? Never mind the little consumers who are going to get screwed in the process of fairness to the big banks

3) You have had a bad experience with an FCU .. and FCU's can FCUK themselves?

4) some other reason

[L0oniX]

22. +1 ...he should start his own op on how CU's are tax evaders. n/t

[Vinnie From Indy]

28. WTF? Why are you going on about "tax free"?

I will venture a guess that you have no idea what CU's pay in taxes each and every year. The fact is that they pay property taxes, sales tax, all of the taxes associated with their employees and vendors.

It simply appears to me that you want to start an argument using facts you simply made up in your head and, remarkably, believe are the God's honest truth.

Please come back and debate when you have something beyond your gut feeling of the issue.

Cheers!

[L0oniX]

29. +1 ...LOL ...you said it better than I could. n/t

[srican69]

23. the are technically called operating surplus ...... if a government collects more taxes than it

needs to make payments - that is called a surplus ( not a profit) which is then used as the elected representative see fit for common good.

The raison'd'etre for non-profits is to serve a greater good - as opposed to a for-profit enterprise whose only purpose is to make more money for its owners ( everything else such as corporate social responsibility etc is window dressing in service of making more profits)

[RB TexLa]

31. It says why in the post. Unlike people who use banks, people who use credit unions are taxed enough

Has a familiar ring to it, doesn't it?

[KoKo]

12. Thanks for the Heads Up...The Greedy B***ards..NEVER GIVE UP...

I was wondering when they would go after the Credit Unions...and here it is.

[L0oniX]

24. We knew they would. So this means we hurt them. I feel all warm and fuzzy over that. n/t

[Dawson Leery]

13. k/r

[steve2470]

17. strong kick and rec, used the website cited nt

[ananda]

25. I signed some petitions and liked the FB page.

I'd be really angry if they screwed with my CU's. I have two now.

[historylovr]

26. K & R

[wandy]

27. Of the few "establishments" I have any faith in........

My Credit Union Is high in the top 10.
Tax them?
Better to tax the Westboro Baptist Church!
At least my CU does something worthwhile for some of us humans.

[GiaGiovanni]

30. KICK

AND REC