Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Government Programs

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Here we go again, another tax on business.  The feds are proposing a tax on banks to recoup some of the bailout money.  They should never have bailed out the banks in the first place.  The banks who are subject to the tax would be subject to a 15 basis-point tax on the money they borrow.  Right now their cost of money from the Federal Reserve is zero, so a 15 b-point tax is nothing.  If the feds rally want to do something to reduce the risks the banks are taking (loans), they should raise interest rates, rather than pass a  meaningless tax.  It is just an excuse to force more regulations upon us.


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