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Serious question – is there anything in Team Obama’s bank tax that would prevent the banks from essentially passing “the bill” onto their customers (i.e., the taxpayers)?
I’m guessing “no.”
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The tax on the banks is just another expense of doing business. Like all expenses it will just get passed through to the rest of the sheeple, and if the expenses do not exceed the revenues the government will be there with another bailout. We have the best political system that will money can buy!
My question is: when will the sheeple wake up and head to D.C. with the guillotine and the hot tar and feathers?
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Rick, great question and it is exactly the first thing I thought of when this was proposed by the administration…
Like taxing the oil companies or any other business… it is only natural that it will be reflected in the price the consumer pays for the goods or service.
essentially, it is yet another tax on the American people!
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Right out the liberal playbook , Tax the Rich , play the blame game , class envy . This is not to say that the Bankers are blameless but the dems are as well .
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I agree with the other posters here. Socialists can only function by stealing other people’s money. Their least favoured route, direct taxation, is not appropriate today because the sheeple are angry. Their next option, indirect and hidden taxation is also tricky for them because it requires a degree of guile and subterfuge that is difficult to hide. Their most preferred option is what we see happening with this bank levy proposal. All the socialists need to pull it off is a stupid and apathetic electorate, and fortunately Obama’s flock qualify nicely.
By creaming off $9 billion per year many voters will think the banks are being punished, and some will even give their votes to Obama as a result, but as we are dealing with a relatively small annual levy it will all be passed on to the electorate as higher fees and transaction costs.
It’s brilliant. Increase taxes on the people, and win their votes at the same time.
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I will close all my Chase accounts this weekend & am going to go to a credit union. F… them & Goldman too.
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Celente was right on January 15th, Facism IS coming to Amerika    ……   and in less than a week!  Today, the 21st,  it was announced that the Supreme Court has ruled that corporations, as PERSONS under the First Amendment, can make unlimited financial political contributions or pay for ads. I predict that there will be blood on the streets before this will be repealed; but it will eventually be repealed!
Obviously, corporations are entities, but these entities are not PERSONS. People die from old age. Corporations don’t. They clearly need to designate corporations as special legal entities for business purposes, yet deny them political speech and the ability to use shareholder wealth for political purposes. This would not be inconsistant. Afterall, Churches are legal entities, but can have their non-profit corporate status revoked by the IRS for engaging in political activities. This is another attempt by the Military-Industrial Complex / Financial Elite to control Amerika.
At my last count Exxon had 400 billion dollars in cash! That buys a lot of votes.   Can you say, “Heil Exxon” ?
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