Obama Wants Punitive Tax For Operating Businesses In USA

"Some companies that didn't receive TARP funds would face the fee, the official said. The administration is using the argument that that every major financial firm in the U.S. is a beneficiary of government steps to bolster the industry."

Let's be clear about this: President Obama is a would-be dictator. A rather ham-fisted one, at that.

Several banks were forced to accept "bailout" money, and several wanted the money. The vast majority of banks in the USA got no TARP funds. Still they are part of the same industry. The argument that they also benefited from the bailout is very deeply troubling as a reason for taxing those banks who got no TARP funds along with those who did. Extra-troubling is the fact that GM, Fanny and Freddie are exempt from the tax. The Republicrats who need to be kicked out of office are afraid that the bonuses being paid (in accordance with legal contracts) are generating popular hatred of bankers in general, and so the bill is politically difficult to oppose.

If the non TARP-recipient banks who are being taxed, having benefited in an auxiliary way from TARP, is an excuse for stealing money from them at gunpoint, how about this: YOU benefit directly by not being stuck in a deep depression*. The TARP staved off the depression. Therefore, YOU, YOURSELF, need a tax levied against you. We'll garnish your wages a (just a little bit) for the next decade because you live and work in America, okay?

No? Think it's oppression? Think it's tyrannical?
You're right.

Special bonus: if you think this will cut into the bonuses of the CEOs of these banks you are fooling yourself. The banks will raise fees on YOU, the consumer. The banking customers, and everyone who does business with these banks, will suffer higher fees because Obama is under the mistaken impression that companies pay taxes.

Consumers pay taxes. This is a $117B tax on YOU.

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*The depression came anyway, and it will last longer because of the TARP program and the other 'bailout' and loss-prevention measures taken by the communists in the Bush and Obama administrations. This bit is for the sake of argument.