Our Government The Crack Addict - The White House Plans To Raise $120 Billion In Banking Fees
Our federal government is completely out of control. Who is going to pay for this tax? Well, that's quite simple. We are. If the government wants to tax anyone, tax the executives and high income earners at banks. Taxing the banks themselves will simply result in more usurious fees levied on people who cannot afford it. A completely regressive tax which will ultimately impact people who cannot afford higher taxes.
This is modern-day government-meddling politics at its best. The same meddling that has destroyed the economy. Rather than making risky gambling with our money illegal, the government comes up with a plan to allow banks to continue their fraudulent behavior. This solution perpetuates the growth of the state. The government can then tax the behavior in order to perpetuate itself regardless of the morality of the decision. Our government is an addict grasping for any new sources of crack.
If the President truly wants to ensure the American people are never on the hook again for Wall Street's profligacy, he should mandate true financial reform - prosecute theft and fraud, break up large banks, ban casino gambling with society’s money and return to community banking or public banking or both.
This attempted effort by the White House is akin to legalizing heroin, the most addictively destructive of drugs, then taxing it to pay for the treatment. All the while hoping to make a profit on the scheme.
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