President says will impose levy on the largest financial firms
WASHINGTON - President Barack Obama on Thursday described bank bonuses as "obscene" and called for a new tax on Wall Street's largest firms to cover a projected $117 billion shortfall in the government's financial crisis bailout fund.
"We want our money back and we're going to get it," Obama said in a speech at the White House.
In earlier remarks prepared for the appearance, Obama said he was determined that every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for in some fashion. Congress would have to approve the tax.
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6 comments:
Are our Politians and who some people call our most intelligent President the US has ever had so stupid to think that a tax or any type of added expense is passed on to the Tax Payers? This means another tax on the lower income families. I wished I was that smart to think businesses are not supposed to make money but provide a service.
I want my (tax) money back too.
This president is a populist fool. First, most of the big banks that will be subject to this tax have already paid back the TARP money they received plus interest and dividends. The government has made billions over and above the money that was provided to them. Second, when these banks are taxed, do you not think that these taxes will be passed on to the customer? So much for no new taxes for those making under $250,000. Third, hundreds of billions of TARP/tax money has been used to prop up AIG, Freddie Mac, Fannie Mae and hundreds of smaller banks who are not subject to this tax. And yet not one word or punitive tax against these entities. Fourth, this tax is being used to punish the large banks because of what the president calls "obscene" bonuses. Bonuses are taxed as income to the people receiving them. So the government is taxing the bonuses and then imposing another tax on banks because they say the bonuses are excessive. Unbelievable.
He is no fool. He is a puppet of the international bankers. All of the politicians are controlled by the bankers. They are vipers in a pit of filth.
They will destroy our country.
Whatever you do please don't throw me into that briar patch!
aw dang.
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