Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Government Programs

leave a comment »

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: