The Government Taketh Away

Bama and the Dems are now pushing their "Regulatory Reform" proposal, which currently includes a "Bank Tax" of $90 Billion to cover the remaining TARP expenditure. JP Morgan president Jamie Dimon did something the government could not counter - he told the truth, saying that this tax would get passed onto consumers. Everybody who knows anything about capitalism knows this is how it always works, but we rarely hear it admitted. Now Democrats are backing off.

But some, like Dickhead Durbin of Illinois are still pushing for it, and so is Bama. If it goes through, you, as an American Taxpayer, will already be on the hook for the first $90 Billion, and you're still on the hook for it, because even though it gets repaid it has already been earmarked for future spending, like the Jobs Bill. You'll also be on the hook as an American consumer for another $90 Billion to cover the hike in service fees passed down by banks that get taxed. So all of a sudden you've just spent 180 Billion dollars. Under President Bush' TARP proposal you were to be reimbursed with interest, but under Bara Bama you get screwed. This is exactly why we continue to see no net increase in jobs relative to population, and why we're unlikely to as long as Dems control government; Bama and the rest of these clowns continue to heap more and more financial burden on everyone while they pursue their liberal political agenda.