Published: Sep 25, 2012 5:56 PM EDT
Updated: Sep 25, 2012 6:41 PM EDT

FORT MYERS, Fla. - Is there a tax every time you use the ATM? That's the claim made in the latest hoax circulating the internet.

Viewers asked Call For Action to look into this after an email showed up in their inbox. It makes some pretty startling claims, almost none of them are true.

The typical email claims President Obama's Finance Team and Representative Nancy Pelosi are pushing a 1 percent tax on all financial transactions.

Every time you touch your money you'll be taxed, the email claims. It also says the democrats plan to push the legislation through after the November elections, in hopes of getting past the country.

But here's the truth.

The Debt Free America Act does exist, but it has almost no chance of passing. Neither President Obama, nor anyone else for that matter, have publicly endorsed the legislation.

It is sponsored by Pennsylvania Congressman Chaka Fattah, but no one else has offered to co-sponsor the bill. The legislation has stalled in committee and has never been called for a vote.

Plus, the Republicans are still in control of the house, and there's no way they would let this legislation pass.