Nanker Posted January 17, 2010 Share Posted January 17, 2010 Goldman Tax on the largest banks (>$50B in assets) . That'll show 'em. AIG, Fanny Mae, Freddie Mac, GM and Chrysler are all going to be taxed to "get our money back". Wait, no - that isn't so??? "I'm a little bit confused by the strong rhetoric," said Dave Bakerian, president of the Delaware Bankers Association. "A lot of the banks were asked to participate in this program to help stabilize the economy when they didn't need to. ... And now we're told we're going to have a new tax." While banks have paid back much of the TARP money they owe -- plus interest -- other companies that took bailouts would be exempt from Obama's fee, including General Motors, Chrysler Group, Fannie Mae and Freddie Mac. "I challenge anyone to show that what the president has proposed is anything but punitive and opportunistic," said David Swayze, a financial services regulation attorney with Delaware's Parkowski, Guerke & Swayze. "There's a perceived pot of gold there that the president wants to tap. ... Certainly there's no equity in what he proposes -- the major banks that took TARP money have paid it, almost the last of them, with interest." So, why stop at Banks? Here's 13 other great taxes. Get 'er dun Nancy! Link to comment Share on other sites More sharing options...
/dev/null Posted January 17, 2010 Share Posted January 17, 2010 Yeah because that'll show those greedy fat cats. Make them pay extra and give the money back to the people! Of course the money used to pay that tax will come via higher rates on loans, lower rates on savings, increased fees, less money to shareholders, and probably a few layoffs But that'll show 'em Link to comment Share on other sites More sharing options...
keepthefaith Posted January 17, 2010 Share Posted January 17, 2010 Goldman Tax on the largest banks (>$50B in assets) . That'll show 'em. AIG, Fanny Mae, Freddie Mac, GM and Chrysler are all going to be taxed to "get our money back". Wait, no - that isn't so??? "I'm a little bit confused by the strong rhetoric," said Dave Bakerian, president of the Delaware Bankers Association. "A lot of the banks were asked to participate in this program to help stabilize the economy when they didn't need to. ... And now we're told we're going to have a new tax." While banks have paid back much of the TARP money they owe -- plus interest -- other companies that took bailouts would be exempt from Obama's fee, including General Motors, Chrysler Group, Fannie Mae and Freddie Mac. "I challenge anyone to show that what the president has proposed is anything but punitive and opportunistic," said David Swayze, a financial services regulation attorney with Delaware's Parkowski, Guerke & Swayze. "There's a perceived pot of gold there that the president wants to tap. ... Certainly there's no equity in what he proposes -- the major banks that took TARP money have paid it, almost the last of them, with interest." So, why stop at Banks? Here's 13 other great taxes. Get 'er dun Nancy! This makes perfect sense (to Obama). You can't tax people or organizations that can't afford to pay, and you need money to further your agenda. Who better to tax than those uncooperative fat cat bankers? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted January 17, 2010 Share Posted January 17, 2010 Yeah because that'll show those greedy fat cats. Make them pay extra and give the money back to the people! Of course the money used to pay that tax will come via higher rates on loans, lower rates on savings, increased fees, less money to shareholders, and probably a few layoffs But that'll show 'em So it is really a power struggle and who has that power and control. Same thing with jobs overseas... If a company leaves, don't let them import their product back into the states. There will be plenty of people looking to fill the void. Link to comment Share on other sites More sharing options...
keepthefaith Posted January 18, 2010 Share Posted January 18, 2010 So it is really a power struggle and who has that power and control. Same thing with jobs overseas... If a company leaves, don't let them import their product back into the states. There will be plenty of people looking to fill the void. Completely different matter from jobs moving overseas. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted January 18, 2010 Share Posted January 18, 2010 Completely different matter from jobs moving overseas. IMO no. The banks are still using leverage to get their way in the end. Link to comment Share on other sites More sharing options...
bills_fan Posted January 21, 2010 Share Posted January 21, 2010 This makes perfect sense (to Obama). You can't tax people or organizations that can't afford to pay, and you need money to further your agenda. Who better to tax than those uncooperative fat cat bankers? Except that old, yellow, crinkly piece of paper called the US Constitution that prohibits Bills of Attainder. Don't think this one's gonna fly Obama. http://www.businessinsider.com/obamas-bank...tutional-2010-1 Link to comment Share on other sites More sharing options...
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